Cross Border Business- Key Questions for New Enterprises
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6. What is Your Exit Strategy?
The immigration authorities want thriving businesses that create products and services and employ Americans. Whether an enterprise envisions itself being purchased by a larger organization or going it alone to develop a market niche is not the main focus of immigration regulators, but it is still relevant to them. This is because designing a company to be cashed out in five years is very different from designing an enterprise to become a successful family business. The attitude towards the business is different; the metrics to be concerned about are different, the people brought into the business could be different, fund raising strategies are different, and the level of corporate organization is different.
The Take Away from the Immigration Universe:
- Know what your business does and its target market and be able to give examples of how your product or service is going to help people.
- Bring in partners that have something to contribute in terms of experience, knowledge and skills and that prize teamwork over self-aggrandizement.
- Don’t skimp on bringing on board qualified service professionals. It could save the business big head-aches in the long run.
- Think about how you want to build your work force and the culture and values you want to instill in the people who work for you.
- Consider the end game: Your long-term strategic goals will help define your short term tactical ones.
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