1) With my business, I plan on keeping it for years to come and retiring, eventually passing it down to the right management.
2) I plan on choosing this exit strategy because this business in agriculture is something I am passionate in and believe that I can make an impact on the community if the business is managed well. It would be something that I enjoy, allowing me to work with it full time and keep it for years if successful.
3) This exit strategy is definitely something that I considered when developing a thought process about my opportunity. When creating a business that involves farming, it is something that you might not see a big profit in for the first few years, but after a while can be successful if managed well. It is also something that is a big investment, and for those that are passionate about the industry, it is something that they keep with for years rather than moving in and out of the industry. Choosing to stay with the business has also affected my future decision to possibly grow this business to the surrounding communities. Being able to retire knowing that you made an impact on the community and grew your business to benefit the surrounding area would be a huge accomplishment.
Hi Myles,
ReplyDeleteI liked reading about your exit strategy and what you plan on doing with your business opportunity further down the road. Similarly to you, I wish to work in a field I am passionate about until I retire, as I want to be sure I will enjoy what I do for a living most of my life. With my current opportunity I plan on selling high after a few years in order to pursue this dream of working around a passion of mine. Lastly, I liked how you emphasized that you want to leave a positive impact on the community and the agriculture industry as this shows you have good intentions and are truly passionate with this opportunity.
Hey Myles!,
ReplyDeleteI would follow a similar path, keeping it till I want to retire and live a good life, and pass it down to the right team to keep it going, either that be family or otherwise. Thinking about the impact of your business was very insightful, and something more people should do in the long-game for their businesses.