Exit Strategy
Although an emergency reserve battery would be beneficial to future smartphone owners, I would most likely sell my business once it has reached peak performance. I feel as if though at some point in time, phone manufacturers will develop their own reserve battery and/or extend the life of primary batteries indefinitely.
Why?
If I were to sell my business concept once it has hit peak performance, there is little room for loss. Rather than sit by and watch my product die out by lack of demand and competition, I'd rather make some sort of profit by selling the business to another company or individual.
Influence
I believe my exit strategy has influenced some ideas regarding my product. I knew from the jump that I would want to sell my business at one point or another. This generated the idea of partnering or selling the product concept to large phone manufacturers so that they may directly incorporate it into future smartphones. At the end of the day, the goal of the business was to create accessibility for all smartphone owners.
Although an emergency reserve battery would be beneficial to future smartphone owners, I would most likely sell my business once it has reached peak performance. I feel as if though at some point in time, phone manufacturers will develop their own reserve battery and/or extend the life of primary batteries indefinitely.
Why?
If I were to sell my business concept once it has hit peak performance, there is little room for loss. Rather than sit by and watch my product die out by lack of demand and competition, I'd rather make some sort of profit by selling the business to another company or individual.
Influence
I believe my exit strategy has influenced some ideas regarding my product. I knew from the jump that I would want to sell my business at one point or another. This generated the idea of partnering or selling the product concept to large phone manufacturers so that they may directly incorporate it into future smartphones. At the end of the day, the goal of the business was to create accessibility for all smartphone owners.
Hey LeeAndrew,
ReplyDeleteI think its a smart decision to get out if you can with the emergency reserve battery since technology is very fickle in the marketplace. At one point it could be doing amazingly well but then out of nowhere the next big thing will come out and what was once the best is now completely obsolete. By partnering up you also have a great chance for the partner to just offer to buy up your portion of the company which would be great for you in profits. Great exit strategy!