Your Exit Strategy


1. For my exit strategy, I have decided that I will get my business patent and keep it going. I will then pass it down to my children and keep it running in the family as a source of revenue. I believe that this business can be effective for many years to come, and the company can even grow in ideas and resources.

2. I chose this strategy because I want to help create generational wealth in my family. I do not want a constant cycle of having to reinvent the wheel. Instead of trying to come up with something brand new, the money and resources will already be there. This way the company can just grow expeditiously.

3. If I want to pass something down, I do not want to do a half decent job. That will only create more work because then my children would have to fix my mistakes. Therefore, this strategy has allowed myself to focus in on executing properly. This will benefit in the long run.


Comments

  1. Mohammed Al-AmaryApril 19, 2020 at 2:37 PM

    Hey Xavier, I enjoyed reading your post because it gave me a different perspective. My thought was to develop my business and sell it after at least 10 years for a large return. The idea of creating generational wealth through a family business sounds absolutely ideal, so that is something for me to consider as well. Great job writing your post, I appreciate the different perspective you offered me.

    ReplyDelete

Post a Comment

Popular posts from this blog

Forming an Opportunity Belief

Ever since I began high school, I have become consistent with working out at the gym or being physically active in general. Most people want to go to the gym, but do not feel access to the proper resources or mainly they do not have any outside motivation to go. The majority want another person to go with so it will help keep accountability. My idea is for each gym, starting with YouFit, create an app. This app will have a profile for each member of the gym after they sign up, and then there is the opportunity to add friends or groups to your personal account. This will allow for more interaction and an individual can find other gym partners. The world is moving fast with technology, so this is an opportunity to use technology to help with personal fitness. I am 90% sure that this opportunity exists. Interview 1: Diaunte, Junior, Age 20 1.      How often do you go to the gym? “On a good week, I will go at least 3 times.” 2.  ...
Read more

Final Reflection

Image
When it comes to this course the thing I enjoyed the most and the thing I am most proud of go hand in hand. It would have to be the elevator pitch video. I did not realize how much actually goes into the pitch. Also, challenging my mind to be creative with it has helped me grow. Since the beginning of the semester, I have grown. I did not believe in myself that I could have an idea and capitalize on it. However, going through this course made me realize that I have the capability to configure a business venture from start to finish. For those who choose to take this course in the future, I recommend really thinking in depth and in advance when doing the assignments. Your business venture could be only confined to these tasks, but at least you are able to grow mentally if the time is put in.
Read more

Identifying Local Opportunities

1.      Rays stadium debate used to be contentious. Now, it’s just stupid. https://www.tampabay.com/sports/rays/2020/01/31/rays-stadium-debate-used-to-be-contentious-now-its-just-stupid/?clearUserState=true In Tampa, Major League Baseball team The Rays have been going back and forth with the City Council about the construction of a new stadium. Trenches have been dug all around the stadium, but there are negotiations that the team might actually just move to Canada. However, residents around the stadium are not being informed about what is going on. The Problem: There is not a way of communication between all three parties within Tampa. The team, the City Council, and the residents of St. Petersburg is all on different loops. Who has the problem: Those residents with businesses around the stadium are having their roads and buildings broken up because they are anticipating a new stadium. However, this only hurts their businesses and...
Read more