1. My exit strategy is to compile as many vapes and people registered into my database as possible within the next 1-2 years. After this, I will then market my database to all big companies looking to sell a nicotine-related product to this demographic. Since I already have all the research on them, I believe a B2B transaction here is very possible.
2. 2. I have selected this exit strategy because I believe vaping is a fad and will not last in the population. Products like Juul and other nicotine vapes are already under fire for multiple reasons, and now legislation is attacking them as well. Once I have taken the vapes out of many young adult’s hands, I will have solved the need they previously had of a structured way to stop vaping. Once a new company comes along with a product they want to market to this generation that relates to vaping, I believe they will buy my data instead of doing it themselves or getting a 3rdparty to find the info I already have in my hands.
3. I believe my exit strategy has influenced my decisions in a variety of ways. The biggest influence is on the short-term life expectancy of my company. Like I stated before, I believe vaping is an epidemic, but a fad. It will crash just as quickly as it rose. And I will be here to catch the falling fruit, disperse it and go about my life onto my next product. Also, since my business is only making money after all the data is collected, I need the lifespan to be short so I can get to the point where I make a profit. Keeping the company’s life span short allows me to collect the data and sell it in a year or two, making all my efforts worthwhile. It also has influenced how I collect resources. Since I don’t have to buy any inventory or have my own money tied up in the company, I can afford to make the life span short and have no consequences or debt to pay for it.
i Christopher,
ReplyDeleteI think your exit strategy is extremely smart, especially from a business perspective. Your company is doing the work by creating the need for a potential new product by helping to remove vapes from the market, and you already have a database full of potential customers ready to go. The company that develops the product to fill that need would probably pay handsomely for all that data.
Hello Christopher Cafaro
ReplyDeleteI found your exit strategy to be quite thoughtful. As your focus on data collection of your customer yourself from being at risk of having your business collapse if it gets ban or get strict regulation do to being either able to data to move customer into substitute or sell that data to make profit. Luckily for you vaping is already illegal for children at such you’re not at risk from regulation involving that. So, you would not get untroubled from collecting the private information of minor. Your idea to sell your business is like my exit strategy but I was planning to handover to someone for price but keep some stuck. To move onto something new, while you seem to want to sell your business completely in order to move something news.