Assignment 28A - Your Exit Strategy

My exit strategy is to get in and out, fast! I don’t even anticipate waiting the 5 years.

The goal would be to make no long term investments in development, manufacturing, or sales of this particular product, as it is so closely tied to today’s existing smart device technology. Even with a patent, technology changes so quickly. I do not want to still be in this business when smart devices no longer require hand-eye coordination. Or, when vehicle integration technology becomes so sophisticated that direct smart device interface is no longer required. Or, when autonomous driving really takes off! The plan would be to sell off the patent, and cash out with no strings attached.

I know we have been talking about always starting our business by having the end in mind. Or, we have at least later in the course. Honestly, when I was picking an opportunity to pursue, I was just trying to come up with one. Period. That is usually half my struggle, picking an idea, because I tend to be a perfectionist (although I am making great strides with this in recent years!) The opportunity I selected ended up being one that satisfied the initial course assignment criteria, and one that I believed I could most develop a concept from. There was no end game in mind. Similarly, because we have been walking through the process step by step, growth intentions or resources were not influenced by the exit strategy.