My Exit Strategy

1) Identify the exit strategy you plan to make. 

I plan to sell my business after 5 or so years. This could change depending on the trending success of the product and whether it's projected sales are worth holding on to the company. I always like thinking of new concepts or potential ventures so I think I'll want to start the next 'chapter' after 5 years. 

2) Why have you selected this particular exit strategy?

I selected this exit strategy because I know how my mind works, and 5 years from now I will likely be eager to experience something other than Floaki. Granted, I could be very wrong and if the product is a huge success I would like to hold on to the company (wouldn't we all). If I had to bet, though, I see myself wanting to sell. I always viewed this venture as a side business to my main career, so selling wouldn't be a devastating financial blow. 

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?

I think my exit strategy has influenced how I've approached acquiring and using resources. My main focus has been to talk with avid anglers and see what they have to say about the product. Realistically I would be happy with partnering with one of these people and letting them do most of the selling/marketing because they're already in the demographic I need to be in. Because of this, I wouldn't have as much 'skin in the game' and selling would be much easier for me to do.