1. I intend to continue working on this project for as long as I am capable before handing the reins over to my most trusted volunteer. As it is a volunteer-run non-profit organization, I would not be able to sell it for a large return. It wouldn't necessarily be a family "business," but I hope that my family will see the value in its purpose and want to continue serving the world in this way.
2. I have chosen this particular exit strategy because this is a very unique sort of venture. I believe it can only be properly and successfully run by someone with the same passion for service. Therefore, I would want to personally know and trust the person who would take over the management of this project.
3. I believe my exit strategy is a natural extension of the way that I would run this project. While it wouldn't necessarily influence the way I made decisions and distributed resources, I think my exit strategy is consistent with the way I would do business.
Isabelle,
ReplyDeleteWith a volunteer non-profit organization, that is about all you can do. It's important that you're keeping the integrity of your company by making sure you approve of the person it gets passed down to. Care for detail is very important, especially in such a delicate situation as handing over your business.
Check out my exit strategy here: http://ent3003sinon.blogspot.ie/2016/03/my-exit-strategy.html
Hey Isabelle,
ReplyDeleteYou took a wise approach to your exit strategy. Since you are a non-profit organization, it would be absolutely senseless to just sell it to the highest bidder. I think that you would either want to have a leader in training situation or a specific process for picking a suitable replacement. Here is a link to my blog if you're interested: http://ryangoodsonent3003.blogspot.com/2016/04/my-exit-strategy.html
Isabelle,
ReplyDeleteI like your approach to this exit strategy! I think that if you work in this company for a long time you will definitely know the right person to hand off your company to! I also like the point where you said it wouldn't necessarily influence the way you make decisions. I ended up saying that I would sell out and sell my company to make a lot of money. Check it out here! http://jhoreckyblog.blogspot.com/2016/04/my-exit-strategy.html