In reality, I am not in the position to open a business at this point in my life due to many reasons. However, for the sake of this exercise I will imagine that I was realistically able to.
1. If I had opened a successful business, I would want to hold onto it for as long as I possibly could. I imagine owning a business to be possibly the biggest accomplishment in one's life. It has your name on it. You stand for it. I could not imagine letting go to something I built from the ground up, except in extreme circumstances. I would be proud to keep the business in the family, and would love to watch it grow and develop over time.
2. I selected this strategy mostly because of how I feel about accomplishment. I find motivation in reflecting on difficult times. Owning a business would drive me to be better every single day. And being able to share that with family down the road would bring me great joy. I would be able to quite literally leave my mark on the world, which is my ultimate goal in life.
3. I do believe that my outlook has influenced how I view opportunity. I would like to solve a problem indefinitely. I was never really 100% confident on my idea and I believe that if I seriously considered starting a business, it would take a long time to hammer down my idea. In terms of growth and resources, I would still use similar strategy to obtain both. The military has graciously provided me with experience and a huge network base that I could exploit. In the long run, I would love to own my own business if the right circumstances exist.
Salena,
ReplyDeleteThis is a well-planned exit strategy. I can relate to you wanting to keep the business for as long as possible. I imagine the feeling of self-accomplishment is very high after creating and running a successful business. I like that you are cautious and witing until the right conditions exist before pursuing a business. This is a logical decision.
Hey Salena,
ReplyDeleteI believe owning a successful business would be a great accomplishment in life, so I understand why you would want to stay with your company as long as possible. However, I also think that selling your business could be a good option to do if it turned out to be less profitable than expected or you expected your revenues to decrease in the future or if you found a better opportunity to open a new business and solve another problem. I liked your perspective on this, and it helped me think of different possible exit strategies.