1. I am hoping to sell my product (automatic door lock for school) in the following 5 years. I think the faster it is up, the better. This is something that is needed now and I don't think it should wait. I don't really had a set time that it will be in business. I think it should be in business until every school as this product installed. This product is something that is very meaningful for safety and its not something I would keep as a family company. It could be, but if my children want to do something else, they can. I will pass the company down to a CEO or CFO, if the company becomes that large.
2. Like states before, the faster the product is up and running the better. Last year there was one school shooting per week, whether it was covered on the news or not is a different story. It is proven that there needs to be something done about this problem and this product will do just that.
3. I think since this is something that is a problem today in society, it has really affected the exit strategy. There are products that are made everyday and put on the market that its not the right time to sell it and then the company fails. This strategy is good because its what the market needs today and it will not fail. It will succeed until it is everywhere (hopefully).
Hi Cristina, I like your viewpoint because it is unique to your idea. I think I would do the same because once the product is implemented and everything is going well it would be easy to give up the CEO position to someone younger with more energy toward it. After getting your idea implemented in the schools I think you have done more than enough! Good job.
ReplyDeleteHey Cristina! I can understand your exit strategy very well. I agree with you that it needs to be selling as quickly as possible. But when the time comes to where it is sufficient and sustainable, your exit strategy works very well. Passing it down to a CEO or CFO would allow more family time and understand your children and their futures. Great post Cristina!
ReplyDeleteHello Cristina! I like the idea you have with the door lock to be implemented into schools across the country to improve safety on those campuses. I truly hope your idea comes into fruition. If you do end up selling it make sure your family lives off the royalties the company will have for as long as it's an active entity.
ReplyDeleteHey Cristina, I just read your post and it was a great read! I definitely agree with you that the faster the product is up and running the better. In my exit strategy, I plan to sell it to the highest bidder as long as the amount meets the quota. This will allow me to retire at an early age. Anyways, keep up the great work!
ReplyDeleteCristina, good job taking an empirical look at your business and coming up with a plan for the future. I agree that a near-future time frame is ideal for your product. It is unfortunate that this problem exists in today's society, but is important that we handle it in a proactive way to make sure that it is curbed as soon as possible.
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