28A – Your Exit Strategy

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?

In 5 years, I would look at identifying other markets to enter, which would be solely based on being able to hire someone with a similar established network and skills in that market as I have in mine. Once I have shown it is scalable in other markets, I would look to sell my firm to a large consulting firm looking to capitalize on the same vertical. At that point, I’d turn my attention to becoming a board member at a fast-growing company that is disrupting the market and needs guidance on how they can hire better.

2) Why have you selected this particular exit strategy?

I feel once I have shown my business is successful beyond me and my market, there would not be a lot of additional challenges left for me. I would simply be staying in the business to make money, which certainly is not a bad reason. I know myself though and I love to be continually challenged. Money by itself has never kept me at a job if I felt I wasn’t challenged and growing.

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?

It certainly has influenced my growth intentions. I designed my new markets strategy based on my exit plan. Once I show I can scale my business to a new market, my business will immediately be a target for large consulting firms to buy.