I think I do intend to sell my business in the near future. I would like to develop the business plan and strategy continuing a little bit, and then let the venture go. The reason for this is that I never intended to make this my life’s work, and while I do feel passionate that it is a good idea that could be fruitful, I do not think doing this for a long time will make me happy. I think there are either people who know this industry far better than I do and they could be much more successful with my product. They are willing to put in the hard work and energy needed going forward. This exit strategy has not influenced my decisions int he concept, but vice versa. In reaching out to experts and customers along the way, I have realized that the rest of the decisions might be better if they are made by someone else. This idea is strong enough on its own to sell, without me investing more of my human capital in it. It has influenced my growth intentions by slowing me down a bit more.
Hey Molly! Selling this idea would be your best bet if it's something you're not passionate about. Over the course of the semester, as I've mentioned on you previous posts, I went from (admittedly) thinking your idea had little potential to later seeing it really develop into a fantastic venture concept ready to go into the market. I truly believe that this product is something that would sell at its current state. Great job throughout the semester, and I hope you find your passion!
ReplyDeleteHi Molly,
ReplyDeleteI think you made a hard decision, but it sounds like the right one because you wouldn't be happy in the long run. I think you should consider the price you could get for it. I also think it would help you sell the idea if potential buyers saw a plan of development for the product. Great post.
Hey Molly! I agree with you in the fact that pursuing this venture forever would not make me entirely happy. And I also think with entrepreneurship comes new ideas and those new ideas become new ventures, so it would make many people happier to sell their businesses to then create new ones, and leave it to the experts to continue to grow it. Great post!
ReplyDeleteHi Molly. I have to agree with you. It's great to have come up with an idea, get it started and then move on. I'm the type of person that gets bored easily as well. It would be fun to get it started and see where the idea can go, but I think after a while I would also want to move on and see what other ventures can be started after this one. I do believe your idea would take off and be a great benefit to your customers.
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