1)
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?
My exit
strategy depends on the future of the wine market. A change in the climate
could reshape the wine industry. Warmer annual temperatures are shortening
harvest windows around the globe. I would like to use strategic planning every
year to determine whether the industry is growing or waning. If I did decide to
sell, I would sell with enough capital to start a new venture. As an entrepreneur
you can’t become too attached to any specific project. Entrepreneurs are able
to follow different Market trends and capitalize on supply and demand gaps. My
end goal would be to start a family business that I could pass down to my
children. It may not be in wine but it definitely could be. The majority of
wine Chateaux’s in France are family operated businesses passed on for
generations. I think more about the future of my family then my own retirement.
I also want my businesses to have a positive environmental impact. An exit into
the real estate and conservation market is currently my dream exit strategy.
2) Why have you selected this particular exit strategy?
Like I explained
before I want to make sure I leave something for my children. As the world
becomes more populated the concept of scarcity is a reality. I want to make
sure I am not part of the problem contributing to global warming and the
destruction of our fisheries and forests.
3)
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?
In this
particular business venture my exit strategy is definitely apparent. If I get
into the food and beverage industry I only want to sell organic products.
Growth would have been an issue ten years ago when the majority of consumers
were ill informed about the environmental impact their product choices have.
Thanks to social media and the internet more Americans are going green and
buying organic. The success of stores like Whole Foods and Trader Joes is a
perfect example. There is plenty of opportunity in the organic food market.
