28A – Your Exit Strategy

My inventions as noted in previous blog entries, will provide havens for cannabis use on public streets. The device will look like a bus shelter and will help alleviate some of the strong scents that so many non-users object to. Because all of society (users/ nonusers) will need to utilize the same air space, this device should work to treble the level of discomfort that comes with the introduction to change. Users will benefit from preserved autonomy, and non-users, their peace of mind.  

My business will require significant effort in order to bring this invention to market. After that portion of the process is undertaken, a plan to sell the business will be the next step of the endeavor. My preference would be to scale and then sell the business within 2-4 years. This should be more than enough time to pay off debts accumulated in the start up portion of the process. I will then sell the business debt free so that it would attract the vast majority of interested parties.

I have decided to sell after what some would consider to be the short term, as I believe I have small window to show the businesses ability to turn a profit. At that point, I would sell to a larger firm to allow the company to reach its full potential.

I don’t believe my exit strategy has nor will impacted other decisions I am making for my invention. I am prepared to work as though the business were to be handed down to my airs. While I currently have another business that I will continue to hold in the family’s name, this business/ invention would be better served and marketed through an entity that offers national reach. My exit strategy will impact how I acquire resources. Because I plan to sell the business within the first 4 years, I will not be taking out any small business debt or loans or inventory or manufacturing. Any needs for capital in order to support customary business expenses, will need to be raised through marketing. The marketing to my sphere, personal network, and  will be my first course of action. I believe this to be the best course of action of my venture.