1 - My exit strategy for this venture is to license this fan experience concept to professional sports teams across the globe. Once I successfully implement it in Tampa Bay, I can use that success to make it work elsewhere. After that, I will license this concept, the app, and everything else included to other sports teams and collect a royalty fee that will allow for early retirement.
2 - I have selected this strategy because once it works with Bucs and one other team to prove it was not a fluke, teams will be interested in implementing it. Instead of me doing this for a team I don"t really care about, I'll license to them the information and resources necessary and then collect a royalty on all of their sales to limit the work I have to do in the future, while securing a future revenue stream.
3 - My exit strategy has not really influenced any of my other decisions. because this is further down the line and all my decisions will be implemented, just by other organizations.
Andrew,
ReplyDeleteThis is the perfect exit strategy. Everyone's ultimate goal is to work hard on a business, then ultimately find a way to continue receiving passive income once retired or pursuing other ventures. By doing what ur doing you will be able to have the time to enjoy life which is the whole point of creating a successful business. Good job and good luck!
Hey Andrew,
ReplyDeleteI honestly think this is such a great idea to finesse as a whole. Once you contract out and collect royalties from sports teams, all that matters from there is simply hiring middle-management to maintain the day to day operations of the company, while you go out and honestly do whatever you want. Really good work on this post.
Andrew
ReplyDeleteI absolutely love this exit strategy. It is not too far off from mine. Where you talked about collecting royalties during retirement I talked about receiving dividends from my shares after selling my company. We have a lot of the same ideas as it pertains to our exit strategy and I think that is why I enjoyed your post so much. Great job with this assignment.