28A- My Exit Strategy


My exit strategy is to sell my product to the distribution specialist after they realize how big of a market it could be and how it could be implemented after like 3 to 5 years of running it myself. Hopefully it would be by then that I would be able to sell it for over a million  dollars and with that money I would use to start up my real estate development business. I selected this exit strategy because I do not really want to make this my entire life. The typical entrepreneur makes their products their entire life and makes it their prime focus of their life. I want my life and my business to be about how to create a business with my family and successfully run it. I have spent the last three years of my life and am going to spend the next 2 years trying to learn all about business and all about the best practices. I want to utilize all of this information for the best and make my own company with what I have learned.

This exit strategy has influenced my concept mostly because I do not want to make to my life's work. My biggest idea would be to show it to a Prosthetics distribution company in Tampa and try to sell it to them. They buy new medical device ideas and patents off of people who present to them. I know an individual on the board and that is how I could potentially have my way in. If I wanted to make it my life's work, I would maybe try a new way where I could make it myself like starting up my own store where I specialize in the sale of my product.

Comments

  1. cpatton10July 29, 2019 at 5:06 PM

    Hi jack I personally did not select that exit strategy but I see where you are coming from with your strategy. I can tell that your true passion is real estate. I hope that your start up does become that successful and that you are able to sell it and pursue your true passion in real estate. I see that you do not want to produce the product yourself now which makes sense based on your exit strategy no reason to buy all the equipment and 5 years later sell out.

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  2. Ana RebolledoJuly 29, 2019 at 9:29 PM

    It seems like this course might have very real applications for you in the future! Like you said, the capital from this other project would be a great start up fund for your real estate venture. You appear to have a directed passion and the motivation to work towards it so it will likely go well for you. I hope your own company works out, family businesses are really cool and when they go well, can be a wonderful legacy to continue your interests.

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