My Exit Strategy

1)   Identify the exit strategy you plan to make. Do you intend to sell your business in the next 5 years for a large return? Do you intend to stay with the business for several decades and retire? Do you intend to protect the venture as a family business, and pass it down to your children?

My exit strategy is most likely to sell off my business for a large return.

2)   Why have you selected this particular exit strategy?

I selected this strategy because I feel as though the product is sort of a one hit wonder and would benefit me by getting up in popularity and selling it while it is still hot. Companies do this all the time, so I figured why not do it myself. I can get the stress of having the company off my hands and also get a great return from it.

3)   How do you think your exit strategy has influenced the other decisions you've made in your concept? For instance, has it influenced how you have identified an opportunity? Has it influenced your growth intentions or how you plan to acquire and use resources?

My exit strategy has definitely influenced my growth intentions, mainly because I do not want to continue evolving my product. I simply just want to make an excellent music app and have it serve its function. Therefore, by me wanting to sell my product in five years, I am not allowing myself for any new thing to happen or for my company to grow and expand.