1. I plan on growing my recording studio for a c couple decades. I think it may be possible that I sell the business, but I don't think it is as feasible to sell this as it is for other companies. There isn't any IP that is really being sold. The most important and unique feature of this company is the equipment and people working it. I could see myself doing this for a long time, growing the studio to the point at which there are many customers and possibly entering the industry of VR. After this I could see it becoming a label possibly, promoting artists. I do not plan on passing this down to my children, but now that I think of it, that is a possibility for sure.
2. I selected this exit strategy because I want to see this company progress myself. I want to help many upcoming artists, and I want to see them succeed. This isn't about money to me, it is about making a positive impact in the music world. I want to give other people the chance to create their content without being ripped off in terms of cost. I would also love to help my children make music as well.
3. I think my exit strategy has reflected in the ways in which I picked my team. I chose people who I knew I wanted to be in my life for a long time. They are all really good friends of mine and I trust them all. I do not want them to feel like it is a temporary job, but rather a hobby that pays them. It definitely influenced how I plan to grow the company. I am taking a slower, steadier route in growth. I want to have everyone feel as though they are working and living through their passion. The goal is to self-actualize, not sell the company and get out of it.
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