Tuesday, April 5, 2016

My Exit Strategy

1. My exit strategy consists of growing my app to the highest degree to the pint that I would soon be able to sell it. This is a service business that think I could dedicate a lot of time to while now in college but after graduation maybe not. The best thing is to try to establish a good foundation, create a market share, pass the business down to a fellow peer after graduation and then eventually sell the app.

2. I selected this particular venture because I want to be able to focus on other new innovations and also my career in the future. I think that Tap&Snack would be just a stepping stone into my entrepreneurial ventures. I also think that it would be better to continue having the business ran under the control of someone that is still I college until sell to help identify what is going on campus.

3. I think that my plan to sell the business affected the initial resources and how much funding that I would allocate to this service. Knowing that this business is something that I do not plan on having past 5 years I though of the most simple but innovative way to provide a service to students in college.
  
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3 comments:

  1. UnknownApril 10, 2016 at 10:01 AM

    Markemia, this is a good idea, but in also reading your venture concept, you are already aware this is going to be a very heavily concentrated field due to the delivery service offerings today. Also, in the class, I have read other ideas similar to this application, therefore, you will need to really have this one stand out. Also, selling in five years would be best, while the market heats up prior to it becoming saturated with competitors. Think about adding something to your app to make it different from the others that will attract most college students. There is a definite need for this app, just have a fear, you need to jump on it quick and differentiate it from others (be innovative).
    Here is the link to my post: http://sonjasevolution.blogspot.com/2016/04/my-exit-strategy.html

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  2. JoselynApril 14, 2016 at 6:58 PM

    Hi Markemia, you’ve pointed out a very important part about running a business and that is the time commitment. You’ve acknowledged that the business will eventually become less important to you as you move on to other pursuits and opportunities and have no problem of letting go. I think that leaving it for someone else to run who can dedicate the time is a good idea. I have included a link to my blog here: http://js-uf-ent3003-2016.blogspot.com/2016/04/my-exit-strategy.html

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  3. UnknownApril 14, 2016 at 8:51 PM

    I definitely agree with you Exit Strategy, it is a powerful move to expand you app, and it's marketing, It is something That I have to also do but with my music. I wish the best with this strategy & hopefully your app can garner a major profit that constantly increases every year.

    Sadly I did not to an exit strategy (but I was told you can go through the directory & comment on someone in your group)

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