Every person should eventually be thinking about their exit strategy in any place in their career or at any job. it's a lot tougher to think of an exit strategy when it is considering your own business. If I were to think of an exit strategy for my food service app I would genuinely think about selling it off when it got a big following.
I decided this because it would kick me off for my next venture with a hefty check and it would allow the employees under me to either join me for my next venture or stay with the company I sold to. I love the idea of having a family bond and staying with something til I retire but I fear I would get bored at some point and want to try something different. Apps are an ever changing thing and sometimes it's better to let other people take over and try something new with your ideas.
This exit strategy actually came up in my prior thoughts for making an app. I thought about how other apps are made like for example a mobile scanning service app that got bought by Snapchat for 54 million. I thought like that thinking about how my app could eventually be bought out by Apple or any big name company and be integrated with their systems like that one app. This definitely could go into the category of how I identified an opportunity because I wondered why something like that wasn't already made. I want this app to grow through Facebook or word of mouth so that eventually I could attract the attention of big competitors.
I think you are on the right track considering rapid evolution of app usability. It is likely the app would be improving too throughout the business life, however it would be most useful if it becomes part of the larger apps. Thus it would be productive to sell it at some point and may possibly get integrated in some apps like Facebook.
ReplyDelete