When it comes to my application, depending on how large the
application becomes I would either want to sell the business to a larger firm
and create a new venture or continue to make it grow within the next 5 years.
If the application becomes large enough for me to become a “stakeholder” that
can give advice and input to its future development, I would prefer to do this
in order to move on to newer fields and interests. If the application is still
in a largely developmental stage, I would like to move forward for a while
longer to at least lift it off the ground and see it move towards the right direction.
I selected
this strategy as I have had multiple interests in life and fitness is only a
small facet. I created the idea as I saw that it could produce the most
success, but I have already been thinking of different ideas and ways to grow
as an entrepreneur. If I were to move on from FitIn, I would definitely use my
knowledge of trial and error and move onto a new horizon where I can still
apply those skills.
Your strategy sounds smart for you given your interests and business model. What would some of your other interests be that you would build another business off of? I know for me, personally, if I were to sell off my company like I plan to do once it's successful enough, I don't think I would want to get involved in another venture, but rather just spend time with my family. However, you mentioned being a stakeholder in your business, which isn't a bad option that I for some reason didn't really think of.
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