My exit strategy is to pass my business on to one or more of
my children. Working in the healthcare industry will be the defining endeavor
in my business career. I have absolutely no plan to retire. I will wear out
before I rust out. I see COHA as a family business. My daughter is in school
now to become a doctor. My son may have the talent to be a lawyer. I can pass
this thing down without much of a problem as a closely held company.
I have selected this strategy become I would like to build
generational wealth for my family. I know the odds of the organization
surviving past the 3rd generation are slim to none, but hopefully I
can put some safeguards in place to ensure the company’s survival.
Looking forward into the future, I see that healthcare is
always going to be a concern and need for everyone. Knowing that this industry
is essential has influenced my decision to seek opportunities and develop
concepts that are connected with the industry. I also foresee that the room for
growth is unlimited. So, the acquisition and use of resources will be with a
long-term view in mind.
Hi Lamar! I enjoyed reading your blog post for this assignment. I think your exit strategy makes sense for your business idea. I especially enjoyed reading when you described your rationale for operating COHA as a family business. I think passing down COHA to your children would be a seamless transition. I also agree that the healthcare sector is essential, and I liked how you weighted this into your exit strategy. Overall, this was an excellent and well-written post!
ReplyDeleteHello Lamar,
ReplyDeleteI thin your ext strategy is very well thought out as well as creative. I think it would be great to pass it on to your children. I think that is very creative and a great way to keep your business in tact and your kids a guaranteed job. You never know what will come out of them taking over, they could enhance the product and make it even better as well. Overall, great post!