28A - Your Exit Strategy

1) Identify the exit strategy you plan to make. Do you intend to sell your business in the next 5 years for a large return? Do you intend to stay with the business for several decades and retire? Do you intend to protect the venture as a family business, and pass it down to your children?

From what I have seen, people grow old in this space and tend to work and teach in it until they retire or keel over. This is true of Emma B. Pitcher of Michigan and many others who I look up to. Right up until the couldn’t they were banding birds and teaching classes on natural history. When the time came, systems were already running that obviated their presence and allowed the operations to continue as normal. This is the life I want to live.

2) Why have you selected this particular exit strategy? It’s not analogous to a profit venture or a standard job where buildup then burnout might be the theme of one’s experience. 

This is something that gets better as time and connections grow on and build upon one another. 

3) How do you think your exit strategy has influenced the other decisions you've made in your concept? For instance, has it influenced how you have identified an opportunity? Has it influenced your growth intentions or how you plan to acquire and use resources?

Regarding growth and acquisition of resources, Dave Ramsey recommends growing at the speed of cash. I believe his new building cost $70 million dollars— paid in cash. The same principles that apply to one’s personal finances he applies to the business world. All of that means slower growth, less overhead, lean operations, and long term vision. I don’t see how my exit strategy immediately impacts decision made throughout the journey.