1. The exit strategy for my “Hot Spot” app is for me to continue running my business for several years, while I go through law school and begin my law career, and eventually sell the software to someone in the tech industry to hopefully expand upon the product that I created.
2. I chose this strategy because although law school is going to be strenuous and time consuming, I believe that if my business is up and running before law school begins, I will be able to continually work on it as I am going through school and have members on my team that will be able to help me as well. Once I begin my other ventures several years from now as a lawyer, I feel it will be best for the business to have someone who can dedicate their full time to improving it, so selling the app will be the best option.
3. I think my exit strategy has made me plan more carefully, since I know I will be attending law school in a year and a half, it seemed smarter to sell the app directly to students instead of through the university because I didn’t want to spend months waiting for it to go through an approval process at the University. Knowing that I will be in charge of the business for a long period of time has also made my more meticulous when it came to choosing who I would want to work with and how exactly I would want the app to look.
Hi Nicolette,
ReplyDeleteI think your exit strategy is appropriate in your situation. This is because my father is a lawyer and I could pretty tell you that it is very time-consuming. He have to fly all over the country to solve his cases. Selling the application to someone who will dedicate for it is a good idea. I believe that you will obtain both financial resource from selling it and a bright future in your career. Overall, you did a great job on this assignment. Keep going!
Hello Nicolette,
ReplyDeleteI think you did a great job on the assignment. I chose a similar strategy for my assignment and I also see the merit in getting to be in charge of major decisions. I think your plan seems well-structured and it seems quite efficient to ensure your venture’s success. Overall, good luck and keep up the good work!
Hello Nicolette,
ReplyDeleteAs always you did a great job on your post. although in my strategy I did not give a time frame as to when I would like to sell my venture I still would like to do the same thing as you as to sell my business to someone who has the skill to not only take it over but also to expand on my original concept and make it better. keep up the good work.