My exit strategy - my escape
When reviewing Allpoint and what type of business it is,I realize it does have a lot potential to be become to be next Facebook and with right conditions it could be lifetime project that I could use until I retire. But after reading “Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future, “ I realize that this venture isn’t what I want to spend the rest of my life working on similarly how Elon Musk created a program that would later be known as paypal which he sold to Ebay then pursued his dream of SpaceX. I feel that I would take a similar course of action as even though it seems like a interesting venture now 5 or so years from now I would probably sell the company and use the money I earn to further research and pursue other ventures.
The reason why I choose this specific strategy is because I feel that Allpoint is a very finite venture that will one day reach a its peak in terms of usefulness and it would probably be a better resource in the hands of a company which specializes in connecting people and businesses like Facebook.
The plan for my venture in the beginning seems relatively unchanged but it will seem to properly utilize my exit strategy I will need to focus harder on getting sponsors and investors.
It's probably very rare for a person to be so single-minded (not in a bad way, just focused and passionate) that they spend their entire adult lives on one mission and or venture. people change and grow and everything has a lifecycle. I can totally understand your preference of taking your idea as far as you can and then moving to something different when the time is right. Good luck!
ReplyDeleteIt’s cool that what you read in Musk’s book influenced how you think about your own venture. We can learn so much from other people who have already done something similar to what we aim to do. Your idea is so novel and useful that I think you have a great exit strategy – when the time comes, your platform will be sold for enough to help you pursue whatever dream you have at that time!
ReplyDeleteDedicating everything, your entire life towards one particular business idea and venture is a very emotional rollercoaster. For Elon Musk, you can imagine the sheer stress going through his veins on such a regular basis, particularly during the start up period. He would've run into problems just like any other up and coming. Luckily for him, although i'm sure it wasn't luck, look at where he is today. For the majority of other start ups, these failures on people's dreams can really hit you hard. Nonetheless, to take your idea to its limits and demonstrate such passion in your own work is something beautiful and inspiring
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