1) I would like to sell my business idea to someone who is more educated with technology and creating apps so I can ensure the app and computer programming will be easy to use. By selling my idea, I would hope to make a large profit. I would like to be heavily involved in the decision making behind the app for the first 5 or so years and then sell the business and receive some type of compensation after selling it.
2) I have selected this strategy because at first I want to be involved with the creation and success but I do not want to make it my whole life. I would like to have a different, full time job and see this as a side project that I eventually wouldn't have much time for. At first, I want to see through it's success.
3) I think my exit strategy shows how an idea like this could easily take off and become an extremely popular app for the college age and young adult generations. It has greatly influenced my growth intentions of the app.
Amy,
ReplyDeleteI think you've planned a smart exit strategy. Seeing all the apps students have come up with this semester, I've wondered what people would do in situations where they have a good idea but lack the skills to execute it.
It sounds like what you actually want to do though is bring someone one to help you develop then sell after the app is up and running. That probably is the best way to maximize profit as you would be able to offer an operational, producing app instead of your idea.
My exit strategy is fairly similar (http://adventuresinent.blogspot.com/2016/04/my-exit-strategy.html). I want to get the business up and running then sell it to someone who can take it from there.
Amy I am not sure I agree with your APP selling idea. Can you tell me an APP I would have downloaded 5 years ago that I still use today? Other than an idea like amazon or Pandora most APPS have a short life span, so if you were going to do this I would plan on having the app on the market for maybe 6-8 months before selling it to maximize your profit potentials. Come Check out my exit strategy at http://stephenclegg.blogspot.com/2016/04/my-exit-strategy.html
ReplyDeleteHi Amy,
ReplyDeleteI think you have a good plan for your exit strategy. I also had a similar idea. I obviously want to be involved with my company, just like you do with yours, and we both do not want it to take over our lives. I think this plan will be successful for the both of us, as long as we make enough money when we sell it.
Check out my blog post if you want!
http://lilliegilmoreent3003.blogspot.com/2016/04/my-exit-strategy.html
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ReplyDelete