For the business, I plan on protecting it as an asset and passing it down to someone I am close with. This company is not something that requires a lot of attention or time until it is used or purchased from. For the most part, this can be a source of secondary income during hurricane season.
I have selected this exit strategy because I feel like this company will be undervalued in the eyes of other business owners. Many people don't realize the demand for hurricane protection supplies and equipment until an actual hurricane comes around. It is a great opportunity to earn a passive income while I focus on my career.
Because I plan on keeping the company for a while, I have set my goals for the long-term and am taking it slow with growth and investment. By doing so, I am able to have enough time to analyze each business situation and take the right steps to preserve the authenticity of the company moving forward.
Hey Michael,
ReplyDeleteI liked how you said that this opportunity can be like a secondary source of income for you and your family because I feel like it is always good to have a backup to make sure that your family is always secure. I feel that it is not working slow but rather thinking logically and fully analyzing the situation, nice post!
That's very smart of you to take it slow because other entrepreneur's like to take things fast and that's not good. When you move fast you tend to lose yourself in life and with your company as well. By doing this you lose more than just yourself but money as well. You put yourself in a tough situation with the company and now your dreams come crashing down. So I'm glad you will take it slow. You'll do great if you this!
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