- I plan to protect my venture for many years so that it can be passed down to someone close to me.
- I hope to continue building off this venture by creating new products for my business. Although in the next decade I would rather be running my coffee shops from afar, I'd still like to be the owner. At this point, I want to focus more of my attention on the products I'm creating for my business and focus less on running the actual coffee shop. I also plan to exercise this exit strategy for the purpose of maintaining the values and routines instilled in my staff. I want to hold on to the integrity of my business. I guess the overriding reason for my exit strategy is simply that I'm a control freak and don't want my company to fail at any other hands but my own.
- I think I've placed extra influence on team chemistry between my staff. I think that is why I chose the exit plan that I did. I want the focus of my business to be on the customer always. By having a solid staff that understands the values that I have placed within the company, I believe my business will have something that other businesses don't have, consistent customer satisfaction. I think it's easy for customers to be turned off by a company when they don't do everything with the customer in mind. Also, values and routines can be shifted when a company begins to grow and franchise. I want to maintain control over this.
Friday, July 29, 2016
My Exit Strategy
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It is important that you are focusing on continuing to expand the product and make sure that customers remain satisfied. Some business may forget about the little things in their business and it will suffer because of that. The exit strategy you picked should be a successful transition.
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