My preferred route would be to stay with Comfort Food Inc. from anywhere between 8-10 years, before moving on to go full force on my actual dream business which is an athletic training business for prospective and professional athletes. However, I would try my best to keep the business in the family or give it to a close friend. I know that is wishful thinking, but if I actually try to do it, then I'm going to do it. Yes, Comfort Food Inc. would be my baby and it would be extremely hard to bring myself to leave it to someone else, but it is not my dream company.
On the other hand, I know myself as a person, and I am super nostalgic. For this reason, I would not be surprised if I decided to stay with Comfort Food Inc. until I retire. I can see myself doing this, and in turn, I would most definitely keep this business in the family. In the end, it is not about the money for me, it is about enjoying what I am doing. That being said, if I see that this restaurant is making a difference in people's lives, and people seriously enjoy eating at my restaurant, then I would be perfectly happy staying there. And who is to say that I can't start my athletic training business while doing this too?
If I do decide to stay with Comfort Food Inc., then I will plan on expanding to other locations, and adding in a health and fitness department as well. I would probably still try to do this even if I was only planning on staying with the business for 10 years, but I would put more effort into doing it if I knew that I would be staying with the company for the rest of my working life.
Dakotah,
ReplyDeleteI too never thought of my exit strategy. I think if I would've given this thought in the beginning, I may have changed my business concept. Like you, my business in ENT is what I'm good at and what I know but it's not my dream.
If you have time, I always appreciate feedback
http://jamiecgarcia.blogspot.com/2016/04/my-exit-strategy.html
Dakotah, I was nice to read that you actually did not have an exit strategy in mind every other blog post did glad to see someone was different. However, it was also great to see that you were able to come up with some after some thought about it. I think your business will do just great. Keep up the good work and make sure to check out my blog post: http://ariellechristina.blogspot.com/2016/04/my-exit-strategy.html
ReplyDeleteHi Dakotah,
ReplyDeleteI got your message after two words! Appreciated. I say you should go after your actual dream business, and pay someone else to watch over your Comfort Foods stores, while continuing to expand or at least maintaining them. Thank you for putting effort into your post, I also like your background/ design.
Check out my blog post here, if you like:
http://rileyent.blogspot.com/2016/04/my-exit-strategy.html