Forums: Discussions for entrepreneurs and small business.

Here`s another component to thinking big, going big, and choosing:

• When you start a business, you must develop it with the intention of selling it for a lot of money at some point.

What`s the difference between demanding that a startup entrepreneur only go big or go home; and demanding that the only reason for someone to start a business should be that they eventually sell it?

On the other hand, if you can`t even conceive of someday valuing and selling the business, doesn`t that limit your imagination?

Thanks Craig (about the worth issue!!!). I agree. Big to someone in business may mean not living paycheck to paycheck, being able to provide for their family, have decent health insurance buy a decent car own a house etc. To some they see going big as being able to use their passion and make money at it. Some may feel being there own boss the real payoff. For others going big is setting up a business and being able to make a difference. In any case an exit strategy is a smart move, to build value, an optimized strategy to capture the largest value for whatever company you are building. Even if it is a family buisness, you should be able to pass on a valued company. If a sale then you want your buisness to have it`s best value, even with dissolution, you want assests. This should be in anyone`s business strategy. Think of all that work you put into creating a business. If you strategize right, that won`t be wasted. It is all with a plan. And an exit strategy should be created as soon as possible in a buisness.

 

Erin

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