28 A

Your Exit Strategy



Identify the exit strategy you plan to make. Do you intend to sell your business in the next 5 years for a large return? Do you intend to stay with the business for several decades and retire? Do you intend to protect the venture as a family business, and pass it down to your children?


I plan to bring m invention to market and ultimately to derive enough revenue from m invention to enable me to create other household product to enhance peoples’ quality of life.
I plan to create a family business that gets passed from generation to generation. However, if the right opportunity to sell my invention arises, I might consider selling it. One must always keep an open mind to succeed.



Why have you selected this particular exit strategy?


I chose this invention because when my sister wentto college she struggled with laundry. Her experience made me realized that she was not alone and there had to be a more efficient way to do laundry.
One day I plan on getting married and having children. When my children became old enough to understand the family business, I will have them work during their summer breaks to learn to operate it Once they complete college, I plan to begin transferring more responsibility to them so one day the can operate it.



How do you think your exit strategy has influenced the other decisions you've made in your concept? For instance, has it influenced how you have identified an opportunity? Has it influenced your growth intentions or how you plan to acquire and use resources?


My plan is to create a family business, so I must always be optimistic about its prospect for success.
I present myself professionally and learning about an elevator pitch has really helped me.
I plan on inventing or improving upon other household appliances and consumer products.