Exit Strategy

As it pertains to my exit strategy, I hadn't thought about it until we had the guest speaker two weeks ago. He made me realize that having an exit strategy is crucial to entering a business or starting one. After some thought, I realized that my ideal exit would be to be purchased by a larger firm and transition into a new market. I know that my personality doesn't fit with working in one market for several decades. After acquiring business across hundreds of U.S. coastal communities, Red Tide management will be very effective. Our patented methods will work in harmony to prevent future outbreaks from ever occurring. I find the acquisition of new clients and new areas more interesting than the actual management of a particular area. Therefore, a buyout would be ideal for me. It would provide me the necessary funds to transition into a new market of interest for me. Specifically, I would want enough money to pursue a new venture in biosecurity risk assessment and management.

I believe that my exit strategy has played a major role in my decisions to this point. Although I didn't realize my exit strategy, the choices I made were very conducive of a buyout. For example, I focused on acquiring markets across the United States instead of a particular region. If I had focused on a small area, it would be more likely that I would grow attached and not want to sell. Not to mention, I planned to have local authorities work with my company to oversee the Red Tide management. This will allow each individual community to have a say in the management program. Lastly, I wanted to grow very quickly. This is not conducive of a small business because it requires a lot more employees to manage a company that is working across a large geographic area.