Ultimately, my exit plan is to pour all profits the company makes into a foundation that is dedicated to helping to pay off student loan debt all over the country or preventing it in the first place. This could be in the form of providing scholarships as well as working with colleges to make college cheaper entirely. I intend to find a way to make the business pretty much fully on autopilot so that I am freed up to work on another entrepreneurial venture. I have selected this exit strategy because I want to start this business to help people and the best way to do that is to pour the money into helping people. I think the exit strategy influences the other decisions I make in the sense that it helps me realize that every decision I make should be to help others and not just make us more and more money. It motivates me to want to grow quickly so that I can use the resources acquired to help as many people as I can.
Hi Jaiden,
ReplyDeleteI like the idea a lot of using the profits you make to help people affected by that topic and to overall prevent student debt. You can definitely tell that you are involved in this topic for personal reasons and for a deeper motivation - not only monetary reasons.
I understand the idea as well that you want to run the business "on autopilot" at some point, so you can work on other projects. Although I do not plan to work on other ventures myself, I want to do a similar thing to open up new time for new projects and jobs.
Ollie