1) I think I could choose between two exit strategies, depending how well my business was doing. If I believed that my business lacked longevity and would decline within 15 years, I would sell the venture in close to 5 years for maximum profit. This would allow me to move on to something else that is more in line with my passions while also getting me out of the business before it experiences difficulties in the market. However, if projections looked good for an extended time period to come, I would love to keep the venture and allow my future family to take it over. This would give my family the opportunity to receive the benefits from my venture for a long time to come. If possible, I would choose to keep the venture.
2) I would select these exit strategies depending on the situations because of their benefits. If possible, I would definitely like to keep the venture in my family because of the financial benefits it could provide my family for generations to come. I would be able to help my family even after I'm gone which is a high priority.
3) I think my exit strategy has made me more driven and focused on the longevity of my venture. Since I would like to keep the venture with my family for a long time, it has made me focus more on how this company could grow in the future rather than only focusing on short term success. It has definitely made me think about future product lines we could produce, because I know the initial product can't keep the venture running forever.
Hey Brandon, your exit strategy sounds perfect for your situation. I had a somewhat similar exit strategy, but I put more focus on keeping the venture long term since it does align with my life pursuits and goals. You could always keep your company and use it as an umbrella brand for more similar ventures, that way you wont have to start again from scratch.
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