Exit Strategy

My exit strategy for my venture is to stick with it for several decades and use it as a cash cow. What I envision is creating a company that will provide substantial income for myself and my family while using my income from it to invest into other businesses and other ventures. As I get older I would like to hand over the company to someone else but still retain majority ownership and have a large say in the company without being involved in all the day-to-day processes so that I will be able to focus on other ventures at the same time. Eventually I would like to be able to create something I can pass down to my kids and provide them a means to make their way in life.

I selected this exit strategy because I feel that it would work best for my personality. I like to always keep moving forward, and while this company revolves around something, I’m passionate about, I always like having a new challenge. I think that by taking my income from this first venture and putting it towards others is a great way for me to achieve this. Additionally, I believe that after setting up a successful model I will be able to train people and show them how to run the company successfully while providing me with some time away from the company to focus on starting/managing others.

I think that my exit strategy has influenced me to set a very lofty goal for my venture idea. By setting this exit strategy it encourages me to grow the company for the first 20-30 years and make it something great and then at a certain point, semi-retiring and focusing on other ventures. I think, if anything, it has influenced me to want to grow the company larger and expand more so than if I were only keeping it for a few years. The reason I say this is because I’ll have ample time to grow the company and there won’t be a need to rapidly grow and over-extend the reach of my company. Furthermore, knowing that I will re-invest my income into other ventures this encourages me even more to put my all into my venture concept.