Background:
My entrepreneurial concept was building underground
parking garages. My vision was constructing these garages for interested
parties. Hence my company would just be a contractor/builder so our revenue
stream will come from business entities hiring us to build them an underground
garage. My main goal was to fix
the parking problem here at U.F but eventually my company could expand
to even more populated areas. Especially
populated areas which are still under infrastructural development. Places like
India or China, where there population is abnormally huge, we could find a way
to fit all these people but underground.
I
think my exit strategy will definitely be staying in the business until I retire.
Throughout all the assignments that was just my underline thought. I never once
thought of selling it of or giving it to my future children.
2. I
picked this strategy just because it has been installed in my culture and the way I
was raised in general. It might not always be a good thing, but I was thought
to always stick to my main goal and never doubt myself, especially in hard
times. I could see this by the way my parents have handled there 27 year marriage,
my dad’s 25 years of service ect. Also my parents have kind of installed in me
this idea of when you start something also ways finish it, and finish strong.
3. My
exit strategy has definitely influence the other decisions I have made. Back to
my first point, throughout the assignments, especially the ones requiring me to
look into the future and into possible markets, all my plans where long term
plans. I even talked about expanding my venture into foreign markets, like India
who have very high populations and poor infrastructure. Such expansion would
take time and a lot of money.
I love the visual addition to the project! This is the first time I've read your idea and I have to say it's great. It's really a huge need and I've thought a lot about different ways to expand parking on campus (as I'm sure we all have) but this one seems to make the most sense. I respect your desire to finish strong but I also feell ike you could look into buying options. Who knows, you may be interested in other career avenues and will need the time. Here is my bog post if you're interested: http://bonanientrepreneurship.blogspot.com/2016/04/my-exit-strategy-week-13.html
ReplyDeleteIt is great that you have planned to stay with this venture and that you have used that as inspiration for what steps to take along the way. One piece of advice that may not necessarily apply to this venture, but could be useful elsewhere is to consider that finishing what you set out to do does not always mean sticking with one thing for the rest of your life. For example if your mission was simply to launch a buisness, sell it, and move on, completing that mission would not be quitting, it would be following through with the plan.
ReplyDeleteHere is a link to my post: http://greywilliams3.blogspot.com/2016/04/my-exit-strategy.html