People like to ask entrepreneurs “what’s your exit strategy” as a nice conversation question. In fact, I like to ask it to get a gauge for an entrepreneur’s approach to the business. An exit strategy is simply what someone wants to do with the business when/if they are done with it. A typical exit strategy would be to get bought out by a larger, complementary company or to go public with an IPO (rare these days).
My preferred exit strategy response is neither of the above. Here’s my favorite exit strategy response:
My goal is to build the coolest, most innovative and profitable company I can. If an acquirer comes along I will consider it, but I’m focused on making something that is built to last.
I believe that building a sustainable, enduring company is the highest form of entrepreneurship.
