1) My exit strategy on my business plan is to essentially sell it in a few years because I do not see myself expanding on my paper straw. I do not see that potential growth because I have different plans to pursue my law degree and correlating straws with it is not a match. I intend on making a few million dollars out of my business to start different ventures to grow.
2) I have selected to sell my venture because I would need more values and resources in regards of my business to boom and I could sell my business to a person to create capital in my pocket. I could create another venture like my straw invention and essentially sell that idea or grow from that idea. The reason to why I have selected this route is because I want to grow my capital, basically different plans for life.
3) It indeed has influenced me to think about ideas as much as I can. For instance, if I think about a business idea in the future, I would just need to ask myself the same question these assignments have asked me because I have came up with many new ideas in regards of my project/venture without noticing that this information is out there and all I need to do is access this information or reach out to experts in regards of questions that you may have. I now am adequate to expand on my business plan when thinking about any venture because I am capable of asking the correct questions to further assist me in my future.
Hi Mickel! Looking into the future, I feel you have come up with a wise plan to sell in a few years. Being locked onto one product, in this case paper straws, it is very hard to expand this very specific avenue. In addition, financials have a big part and if you are unable to support the business it would be in your best interest to sell. Good job!
ReplyDeleteHey Mickel,
ReplyDeleteIn the future I see your plan coming to fruition. I like your exit strategy and think that your venture will be very rewarding and like you said you have the adequate knowledge and resources to expand your business!