Each one of us a will choose to leave our venture at different points. I plan on leaving my business venture with grace and beauty. After working hard for 5 years to build up my app I plan on selling it to a bigger company, who can take it to the next level with resources that I don't have. As part of the sales contract I would requires a small share of royalties and shares of the company. Its only fair after all :)
I chose this strategy because I believe that with my current resources and skills their is only a certain distance I can take this venture. Better to hand the ball off to the pros and take the glory along with the team. I believe I always knew this would be my exit strategy. Therefore a chose a venture that I knew I could build up only so far.
So just like the great queen herself would do, I'm peacing out like a boss.
Hi Niamh!
ReplyDeleteGreat introduction, by the way. It made me laugh a little.
I think that your exit strategy is very reasonable. All in all, it might be better for your venture, like you said. Larger companies do tend to have more resources, but they still might need some of your managerial help. Would you stay with your venture if the people who bought it from you also offered you a position?
Our exit strategies are not that alike, but feel free to see mine: http://kwallaceent.blogspot.com/2016/04/my-exit-strategy.html
Thanks,
Katherine Wallace
Hey Niamh,
ReplyDeleteI enjoyed reading your post, and I especially liked the gif you used (yas, the queen)! I respect your exit strategy, as it shows that you're more about your product's progress and improvement than anything else. However, even though you feel you may not have the resources, you are still an innovator, and who better to provide new ideas for the app than the person who created it?!
Handing it off to someone that has more resources is a good idea, however, I think you should still be involved and have some creative control.
Niamh,
ReplyDeleteI am choosing to sell my business as well after five years because I believe both of our opportunities will get smaller as technology gets better. Also, by selling to a larger company, they will be able to make more of your company than you could have because of their larger amounts of resources. Check out my blog post at: http://usingmediaforgodsglory.blogspot.com/2016/04/my-exit-strategy.html