1.) The exit strategy I would have if I ever started an online textbook rental service would be to just see what happens. This is not a lifelong passion I have had that I would want to see succeed more than anything. Personally, I am not committed to such a venture and it had nothing to do with what I want to do in life. If the service took off, I would help grow it for about 5 years or so until I can sell it for an enormous profit. I would take that money to plan for my future.
2.) I selected this exit strategy because I do not want to run a textbook rental service in the long run. It does not interest me, it is not what I selected to study in school, and it is not the career path I want. It would be nice if I had managed to create a successful service but even if that is the case, I feel like I personally wouldn't get any emotional satisfaction from this line of work. Once it had become a success, I could easily see myself get bored with the business.
3.) Because my exit strategy is one of very little attachment, every decision I have taken is one that was made without a lot of care. The opportunity I identified was one that stood out to me easily as a college student but if I cared more about the business I was starting, I could have chosen something more profitable or at least easier to get started. Since I don't plan on keeping this business over the long term, it has made me less motivated to seek and utilize resources to help it grow.
Hi Ajay, once again another great post. I too decided to go with the option of selling my company for a large sum of profit. However, my decision was based upon the fact that my product would be able to reach more people, compared to just my business. Either way the money I would receive from a large company would be used for my future.
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