What’s up blog,
My exit strategy will consist of a calculated approach based on the current market conditions in Gainesville.
Based on experience, one should never leave a profitable business. With that said, I plan to stay in the parking business as long as I am making a profit. The only situation I see myself exiting the market is if there is an oversaturation, and I am no longer the preferred parking provider for students.
I have chose this exit strategy because I know that parking is something that can be managed remotely, meaning that I can continue with ventures elsewhere, and still profit from the business in Gainesville. Oversaturation is out of my control, and as long as I’m in control of the market I plan to remain in it.
My exit strategy has definitely influenced my other decisions. It influences how I set up my organization, with full time experts in the industry overseeing a part time staff. I have set up my business to rely on trusted employees, and will give them an opportunity to become successful as well. This is a long term strategy that reflects my hesitation to leave the market.
Hey Louis,
ReplyDeleteI personally am in the same boat as you. I think it is best to ride the wave as long as you can and get out. I would not stick around if you were losing money. It is a sad reality but all things must end. It is important to get out while you can. I like your strategy and keep up the hard work. I think it will work out great!