The exit strategy I intend to use for my company and innovation is to build it up over the next 15-20 years until it is a very profitable and helpful medical company making a difference for a lot of people. Since it is mainly dealing with prescription medicines and also working against virus' I plan to sell the company and its rights to a pharmacy such as CVS or Walgreens to then make a big enough profit to retire. Selling it after many years will feel good and make me feel like I have done something good for society and myself.
I selected to go with this route with my venture because after many years of setting my own structure and remaining small scale I will have helped many people, however selling it to a huge company like CVS would allow for it to help millions and millions of people which is my main goal.
My exit decision has always been an idea from the start actually but the main goal of helping others in need would remain the same no matter what strategy I had in mind! I think the exit strategy has influenced the way I have developed some of the new ideas such as attacking the corona virus ideas with at home testing, so I'd say it effects some of the internal ideas.
Hey Carson,
ReplyDeleteI really enjoyed your post today. I think your company has great potential to grow and I have no doubt it will. As an exit plan, I would recommend to sell and make some good profit. Some of the best entrepreneurs like Mark Cuban sold their company and made a lot of money, we are talking billions.