1) The exit strategy I intend to use is to keep the business in the family and retire at the age of 65. It will continue to be a family business long after I am gone.
2) I have selected this strategy for a few select reasons. The first reason is that the company name is The Donnelly Clan Co. and is best to stay with the family with a name like that. Also, I want to ensure that the company goes in the right direction, and is best done via family. I desire to retire at 65 because I would eventually want to spend my last years relaxing. Family businesses are classic and are always fun to come across, like Ward's Supermarket.
3) My exit strategy has influenced my other decisions in my concept. I decided to keep it in the family and that has caused me to look for opportunities in the realm of pets. My family has had pigs, rabbits, turtles, cats, dogs, chickens and lizards. My first product through my company was a cat litter box. Not a far step from my family's love for animals. My family is my resource for getting the business started, and are the ones who will keep it going. My family also had a grand influence on the company name, considering that it is my last name.
 |
| My niece and nephew with their chickens and getting ready for the family business. |
Kristine,
ReplyDeleteI like how short and sweet your post was, but to the point. Such a cute photo of your niece and nephew as well! I also like how you said that you want the company to go in the right direction and your family would probably be best for that. There have been some family-owned companies in the past that either sold their business or gained a new owner, and it has ruined everything for the person who originally started it. While I didn't know exactly what your business was (perhaps next time include a little description at the top), I wish you much success if you decide to pursue it and good luck with your classes!
Here is the link to my exit strategy:
http://nataliem775.blogspot.com/2016/03/my-exit-strategy.html
Kristine,
ReplyDeleteWOW, I absolutely love this! You're the first company I've come across all semester that is a family business and you've taken so many admirable steps toward executing this project. It's actually super heart warming to see that picture because it shows just how truly passionate you are about this and not only that, you've also been able to show your audience how great of a support system you have! Having your family to back it up and be just as passionate about this needs and issues will definitely help the integrity of the mission of your project for the many future generations of the Donnelly name. Congrats! This is definitely one of my favorites thus far. As a fellow blogger, check out my exit strategy: http://entreprevision.blogspot.com/2016/04/my-exit-strategy.html