- As mentioned in my previous posts, my venture of tutoring seniors and foreigners (about technology) does not have a very large window. Due to the increasing norm of technology and globalization, I do no think this venture will be doable about a few decades from now. Because the demand for this may fall too low in the future, I will ultimately discontinue the service.
- I selected this exit strategy because it may not be profitable to enter this business with such low demand. Even if there were profit, it may not be the best way given other alternatives.
- This strategy has influenced my overall decision in this concept. Because I am a student, I am currently gaining and developing skills for a higher career. Thus, this business can help students who not only want to earn small revenue to pay for education, but also to gain experience with teaching others. My venture was not intended to be a long commitment from one person, but rather short-term commitments by many individuals who seek to benefit from this venture.
Thursday, November 21, 2019
28A – Your Exit Strategy
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Dear Tommy, While I am sure that you are disappointing with your decision to shut down the business on which you worked so hard on, I am really impressed with the honestly you are able to have. It is not easy to admit defeat when something is not working, especially when you have invested so much time into it. Hopefully you can take the ideas that were successful and utilize them on a later plan.
ReplyDeleteTommy, I think your exit strategy fits well with your overall plans of moving forward in your education. I think this is a safe plan to keep it very small and not put in too much investment since this is not something you want to do long term. Overall, your strategy makes sense and fits with the model you have developed throughout the semester.
ReplyDeleteHi Tommy,
ReplyDeleteI agree with your exit strategy. I feel like it's a great idea in order to reach your short and long term goals. Understanding your window and realizing that it's short will allow you to not make any impractical decisions and instead save money while maximizing your venture. Good job on this assignment and keep up the good work!