For my venture, I could see myself continuing to run the business in the City of Orlando for as long as possible. Because my venture would be created specifically for Orlando, I would not attempt to add other cities to my venture. I believe I would only sell "Experience Orlando" when I choose to retire. I would, however, consider selling the platform and software to other companies for use outside of Orlando. These purchasers would be required to only focus on their own city and will not be allowed to be used in the state of Florida. Other than the usage of the same interface, these companies will not be tied to "Experience Orlando".
I chose this exit strategy because I want my venture to remain focused on Orlando. I would not want to see this business sold to a large company and applied generally to every city across the nation. I could make money off of selling the platform for other companies to focus on their own city, but I want to remain personally focused on the original city.
This exit strategy influenced how my website would be designed. It can be something that can be applied to other cities and sold, but the venture will always be designed specifically for the original unmet need in Orlando.
Hi Chris,
ReplyDeleteI think that you really thought through the ins and outs of this venture and know exactly what you want to do with it. Therefore I think it is a good idea that you want to hold on to the company until you retire. You really seem to love the city of Orlando and I think that your passion for the city and all of the attractions that it has to offer and I think that passion for Orlando will make this venture successful.
You know what you want and what you do not want, that helps a lot with knowing where you want to go with the business. You've thought of all the different scenarios and it is nice to see your passion on what you want to do. I hope to see this come into fruition in the near future and use it myself possibly.
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