Harvesting is the most important and exciting part of this entrepreneurial process. There are many forms of harvesting: walking harvest, initial public offering, strategic sale, to name a few. It is the time in your business to reap all the hard work and effect that was put in. In many cases, VCs (venture capitalist), may want to acquire your business, another big business that sees your business as a good addition to theirs.
In the harvesting stage the entrepreneur has to be careful as well. You want your business to fulfill the purpose you have set out for it. Additionally, you will have to come to terms that someone else is now calling the shots. Since this is an scary leap for many entrepreneurs, they’ll negotiate deals that will keep them in mix somehow, often times as a board member.
In my case with iEatz, I hope to eventually sell this business to a large company like amazon. However, with health and wellness being my core passions, I would still want to has a role in the business.
Harvesting does not have to be a sale of your business; however, it can be a merger of two company in the industry. I believe this merger will help your business gain more of the market share and grow at a much faster rate, all while keeping your business.
Amis, D., & Stevenson, H. H. (2001). Winning angels: the seven fundamentals of early-stage investing. London: Financial Times Prentice Hall.