Assignment 28A: Your Exit Strategy

My Exit Strategy:

            I would probably stay with the LB Food Allergy and Sensitivities Test (which is what I would be calling my product) for a maximum of 5 years. Ideally, I would have help create or start creating the simple food test, found doctor’s offices to partner with, and create a customer base. After that I would most likely sell the test or rights to the test and continue with the job I would have at that time (which hopefully, fingers crossed, would be marketing for a professional sports team, one can hope).

Why this Strategy:

            I chose this strategy because although many people said I have a great idea, I do not think that I could stay with it for very long. I do not think that I have the proper background or knowledge to push this idea past what I have already thought of. By that I mean, I am a marketing major and I am basically using my experience of dealing with food allergies/sensitivities to help people. I would have a learning curve when it comes to designing the test itself or trying to express the idea to doctors. I feel as though I would want to leave my idea in capable hands and have them constantly improve the product. I am content with knowing that I potentially helped people, that is enough for me.

Has this Strategy Impacted My Decisions:

            The idea of leaving the company fairly early has affected some of the decisions I made in designing my concept. I have expressed many times that I want my product to be very accurate for consumers and having my product created in more capable hands than mine will help accomplish this. Also, I feel as though sometimes I express my ideas very thoroughly because, subconsciously, I want to find someone who believes in this idea as much as I do and has the knowledge, resources, and expertise that an idea like this needs to reach the next level.