My Exit Strategy
- I plan to exit my business after maybe a decade or two and leave it to someone I trust can take care of it, unless if I get a fantastic offer to be bought out earlier.
- My main goal is to provide excellent service to my customers. And I would want to be there for a great deal of time so that I can continue to make sure that people are getting the service they ask for. While I eventually want to exit my business, I would have to make sure I would be leaving it with a person that I fully trust to be able to oversee it. I don't know if that would be a family member or just a worker that demonstrates leadership abilities. The only other way I would exit my business is if I received a great offer to be bough out. This is very unlikely, but if the money is right and I know my customers would still be in good hands, then this is something to consider.
- I think my exit strategy has influenced what my biggest goal is for my service offering. I want to make sure that my customers receive fantastic customer service and that they are very happy when using my service. If I can make sure that whoever is in charge after me can deliver that, then I will feel comfortable leaving the company in their hands.
Matthew, seems like you have a pretty simple exit strategy. But also one that will continue to help your customers’ needs be met after you have moved on. I said I would likely sell my business, and it sounds like you would do the same if you had a great offer. I guess the best way to be able to sell the business for a profit is to establish goodwill and great customer satisfaction. Good luck! Feel free to check out my exit strategy: http://emilysentblog.blogspot.com/2016/03/my-exit-strategy.html
ReplyDeleteHello Matt,
ReplyDeleteI like how you decided to pass on the company rather than sell it off. Perhaps you still hold a share of the company after you walk away? Or you're just the generous man alive. I liked how focused you were to offering good customer service, reminds me of my days at chick fil a. I hated those days. You can check out my strategy at http://gainzvillebloggers.blogspot.com/2016/03/exit-strategy.html