Sunday, April 3, 2016

My Exit Strategy

I think the best option for my app TextSwap is to build it up and sell it in the span of a few years. I think this is the best option because I would like to do more than just manage this app. I'm hoping TextSwap would be a spring board into many other opportunities I can find and take advantage of as an entrepreneur. By selling it, I can gain a large sum of money that could help me in my next venture. I think my decision to do this has influenced my other ideas to some extent. Throughout the course, I've known that as a college student it would be very difficult to run an app and manage classes. So whenever I've come up with new ideas for TextSwap, I've always kept in the back of my head that eventually somebody else would probably be running this company. I want to come up with the best ideas that would help the future CEO succeed and give them the best starting point. I don't think this has influenced how I came up with the opportunity or how I decided to acquire resources though. My ideal situation would be I make the app and have a team with me. My team would test the app on a college campus and see the results. If the app is successful, hopefully an investor would like the idea and would be able to bring TextSwap to campuses around the nation, which is something I'm not sure I would be able to do at this point. I did want to start up the app and develop it to some extent before selling it though.

3 comments:

  1. Matthew,
    Your exit strategy is similar to Page and Brin’s with Google. They created Alphabet Inc. as the parent company, because they wanted to move on to new ventures involving future innovations in the medical field and other technologies. Since, your business is running an app, I think this is a perfect plan. I’m sure that you would want to build new apps based off new ideas from your current business. I had two plans depending on my children’s future goals. My main plan was to grow with my company until my time to retire. You should check it out on my blog at: http://entuf.blogspot.com/2016/03/my-exit-strategy.html

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  2. Hi Matthew! It seems like you have a great idea for an exit strategy and what you hope to do within the next few years. My business concept also involves building an app and I also intend to sell it after a few years as I don't think I could manage running it and dealing with Graduate school. I think your exit strategy is a great plan and you seem to have really considered what would be the best move for you! Feel free to check out my blog, http://caitlinc12.blogspot.com/2016/04/my-exit-strategy.html

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  3. Matthew,
    I would first like to compliment your hard work and detail on this assignment -- it certainly shows your entrepreneurial spirit. Like you, I also plan to move on from my business after some time. As college students, we have a perfect opportunity to creatively take risks since we essentially have free space in a vacuum. I hope your semester has been going well and I have attached the link to my exit strategy.

    http://dipaoloent.blogspot.com/2016/04/my-exit-strategy.html

    I look forward to your comment and wish you the best during finals week.

    Sincerely,
    Louis DiPaolo Jr.

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