As for my public relations company, I feel as if the exit strategy I would take when leaving this venture would probably be to stay with the business for 5-7 years and sell the company. The reason why I would choose this exit strategy is because in those 5-7 years, many changes in the external environment can take place, therefore I could potentially be in a position in which I am not receiving as much business. My biggest threat would be the growth of technology and the opportunities that will most likely arise in the future that will make PR services mostly virtual. Therefore, I would most likely sell the business and try and venture onto a more virtual PR platform for client services. I do not feel as if my exit strategy influenced my other decisions because it took me some time to actually figure out which exit strategy I would want to choose. I tried my best to weigh the pros and cons before doing this assignment therefore I don't really think it has affected prior thoughts and opportunities I had for this venture.
I like the idea of staying with the company for about 5-7 years and then selling and moving on. I would be afraid that I would be complacent in the company and my ideas and ventures would be stifled. I think you did an excellent job!
ReplyDeletehttp://katyshitchhikingghosts.blogspot.com/2016/04/week-13-my-exit-strategy.html
Hi Breyenne, love your post! You definitely make some good points, and it's good to see how your aware you are of the tech landscape and how it might render your business useful if you don't innovate. Personally, I'd try establishing yourself relatively quickly and then start innovating in order to start the push into the tech PR wave! Best of luck with it, here's my exit strategy: http://gonzalonunezent3003.blogspot.com/2016/04/my-exit-strategy.html
ReplyDeleteHi Breyenne,
ReplyDeleteI also feel that my exit strategy was not influenced by other decisions, because it is important to give 100% no matter what when starting a business. Maybe only actions after the first 6 months would differ, in my opinion. Virtual PR is cool.
I liked your plan!
Check out my blog post here, if you like:
http://rileyent.blogspot.com/2016/04/my-exit-strategy.html