Your Exit Strategy

My Strategy

1) I think the thing I plan on doing is to continue growing my business for the foreseeable future. If it is successful, I plan on growing my business and passing it on. Preferably, I would pass it on to someone in my family, but I think I would give it to anyone who would do a good job. Just look at medieval monarchies, one bad ruler can ruin it for everyone. If I pass this company off to a child or someone in my family who doesn't have the ability to run it, there could be many small businesses that suffer because of that choice. I think giving it to a determined and capable person (preferably a child) is what I want to do after retiring from this business.

2) I think that I want to keep working on this business instead of selling it because I think this business could have a huge impact on small business owners lives across the world. How I see this working is that I would start out by helping the local community and then my business' reach would gradually increase. After helping the local community, I would help the state, then the country, and then North America, etc. I see this business doing a lot of good for a lot of people, so I think that I would want to keep working with it until it can help all small businesses across the world or the business fails.

3) I think that this decision has influenced my decisions in regard to growth of the business and its cultural identity. I think that since I am planning on pursuing this long term, it is not as important for the business to grow right at first. I think many people who want to sell the business want it to grow right away so big companies take notice right away and try to acquire them. Like I said, I am trying to stay with my business long-term, so its okay for my business to not grow as much.  As long as my business helps small businesses obtain an online presence and make money, I am happy.  As far as cultural identity, I think that I want to have a family-like feel. I think that I want to have this type of culture because I want people to be there long-term like I will. By having a welcoming and close culture, people will stay with the business long-term.

Closing Statement

My business' mission is to help small businesses obtain an affordable and easy to use online presence. By doing this we can help these small businesses reach customers that they probably wouldn't have otherwise and sell to customers outside of the store. This will prevent many small businesses who are being affected by the coronavirus from closing down. I think that this business could do a lot of good and this is the reason I want to be a part of it for as long as possible.