Exit strategy: I would intend to stay with the business for many years and then retire. I don't see myself protecting the venture as a family business, unless my family shows the same vision and passion for exercise. At this moment, that isn't the case.
Why: The purpose of creating this company wouldn't be to get as much money as possible. Of course, it'd be nice to earn enough to live comfortably. But I wouldn't sell the company or make a deal just to make some extra cash, unless I believe that I wouldn't be able to continue my vision without that extra cash. I want to create a change in peoples' lives, empower them and help them start their fitness journey.
Exit strategy influencing other decisions: For other decisions, I had never consciously thought about my exit strategy. However, I can see some overlay now. For instance, I would hire individuals that have the same vision as me while having the proper credentials (e.g. physical therapists, personal trainers, etc.) I wouldn't hire family just because they're family. I don't think it influenced my opportunity identification, growth intentions, or acquisition and use of resources.
Hello Angel,
ReplyDeleteYour exit strategy is very similar to mine. I can see that we share some ideas which make us want to stay with the business venture as long as possible. I can see that one of your priorities is to help people be healthy by providing then access to a fitness apparatus and that vision is what moves you.