28A-My Exit Strategy

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If I was doing very well I would plan on selling my business when I approach 10 years but if I could see that my profits were starting to decline by year 5 I would sell it easily. The reason for this is because when I sell it that money will only last but for so long but if I am able to make money as my full time job I would build my money for as many years as I could. When the right offer came by I would sell it, retire, and take my wife to go see the world because I hate traveling but she is obsessed with it. If I made a ton of money I would be willing to give to a family room or my kid but if was just a trend that would soon die I would sell it and just set them up a college fund.
I have chose this exit strategy because being rich is money that is temporarily in your possession while wealth is money that is coming constantly that will keep your financial position. I want to be okay financially until I die so I will keep my business for as long as it is thriving and then I will sell it when the right profit is offered so I can finish out my days.  
I think that my concept is to sell as much as possible while the going green phase continues but earth could eventually just be a dust ball or we will murder ourselves through war or creating a disease that wipes us out. I want to make a ton of money and then start living my life and die before any of that happens. 

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Comments

  1. Jessica KutzApril 11, 2019 at 1:15 PM

    Hi Christopher,
    I thought it was interesting that you could see yourself selling your business after 5 years or 10 years. For my business, I see myself selling at the 5 year mark, but I think in either case it really depends on how our businesses are doing. I also liked how you talked about being rich versus being wealthy. I too would rather be wealthy and financially stable in the long run, and if my business were still thriving I would want to hold on to it as well. Overall, great job on your post.

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