Exit Strategy
My Exit Strategy
1. I think for this business venture, I will probably end up selling my business after a few years of profitable gains. I think my venture in particular takes advantage of adding new technology to existing knowledge about personal wealth management, and since technology is constantly improving, my product will eventually be outpaced by new products that are more innovative than mine. Therefore, I think it would be prudent to create my product and see if people would be willing to purchase it, and after a few years of growth sell the business and revenue stream to a bigger company with resources to spend on technology innovations, while retaining some form of royalty check in the process.
2. I have selected this exit strategy bases on what I think is a realistic model for how technology influences the creating of new products. I believe that now the value I can add by restructuring existing finance knowledge in an web format is highly useful, but who can say if a product like this will not be soon outdone by a new technology that is far more useful to the average consumer. Rather than constantly innovating my product to meet the specific needs of an ever changing consumer base, I believe I should capitalize on my potential for short term success and sell when my business is the most valuable to the existing consumer population.
3. I think my exit strategy has influenced my decisions concerning this venture in that I am not very keen on developing a costly long-term worker base, as my revenue model relies partly on low overhead, instead focusing on using the gig economy to produce the resources I desire and only employing hourly workers when absolutely necessary. I think this low overhead will allow me to more quickly adapt to changing technology and alter my revenue models based on changing data, and exit more easily when I deem it is appropriate.
1. I think for this business venture, I will probably end up selling my business after a few years of profitable gains. I think my venture in particular takes advantage of adding new technology to existing knowledge about personal wealth management, and since technology is constantly improving, my product will eventually be outpaced by new products that are more innovative than mine. Therefore, I think it would be prudent to create my product and see if people would be willing to purchase it, and after a few years of growth sell the business and revenue stream to a bigger company with resources to spend on technology innovations, while retaining some form of royalty check in the process.
2. I have selected this exit strategy bases on what I think is a realistic model for how technology influences the creating of new products. I believe that now the value I can add by restructuring existing finance knowledge in an web format is highly useful, but who can say if a product like this will not be soon outdone by a new technology that is far more useful to the average consumer. Rather than constantly innovating my product to meet the specific needs of an ever changing consumer base, I believe I should capitalize on my potential for short term success and sell when my business is the most valuable to the existing consumer population.
3. I think my exit strategy has influenced my decisions concerning this venture in that I am not very keen on developing a costly long-term worker base, as my revenue model relies partly on low overhead, instead focusing on using the gig economy to produce the resources I desire and only employing hourly workers when absolutely necessary. I think this low overhead will allow me to more quickly adapt to changing technology and alter my revenue models based on changing data, and exit more easily when I deem it is appropriate.
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