What I ultimately plan to do with my website will partially depend on its success, but it is not something I foresee myself owning for any more than 10 years. In about 5-10 years time after opening, I will probably step down from the role as CEO/owner (a grander term than it really is for a business this small). While I don't want to completely step away from my website, I wouldn't mind simply assuming a smaller role for the sake of maintaining the feel of the website, eventually fading out (unless the website does first). Knowing myself, I come up with new ideas pretty frequently, so I won't want to work on the same project forever.
Honestly, I was in the chunk of people who hadn't even considered an exit strategy for their venture, but I'm glad I see the wisdom in planning one out now. It hasn't really influenced much of my business decisions yet beyond making them feel more real. I suppose I've taken the lifespan of my market into greater consideration.
I think it's cool that you plan on stepping down to make time for new projects while still participating in a chunk of your idea by investing some portion of yourself into a smaller role. That way you're still committed and connected to all your ideas while still freeing up the ability to work on new things. I think with artistic projects like you and I we can't just decide on a certain path too far into the future because, again, it's wherever the wind blows us. Best of luck, and hopefully I hear again from you and your project in the future!
ReplyDeleteIts great that you see yourself being able to come up with enough new ideas to be able to create more than just one website. Your exit strategy also opens doors for other opportunity if you were to ever lose interest, where you could stick around to overlook things. I hope to hear of projects that youve done in the future because it looks like you could have a few successful ideas.
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