1. From the start of my idea, I always felt that I really wouldn't have any part in it. It would be solely up to banks to market this new tracking chips on cards. I would simply just sell them the rights to the idea. I figured this route would be more effective than coming out with my own cards instead. Either way, I'd have to take it up with the banks.
2. I've always felt it was smarter to sell my rights for a lump sum of money rather than having my own cards mostly because of the liability. Also because well known banks could see the potential in this product and will have all the resources to build and app and make this thing actually happen.
3. I can't really say my exit strategy was influenced by other parts of this business venture because up until now, the idea and rights were completely mine. I wanted to figure out all the logistics and tweak my product enough to bring it to someone with more power and influence than I.
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30A- Final Reflection
1. I knew what I was getting into from the very beginning of this course because I had already taken it a year before. When I took it the fi...
I relate to this strategy because my perspective on my venture is somewhat similar in the sense that I feel like if it were to actually lift of the ground then it would probably be best in the hands of existing companies and organizations. I think it is smart that you thought about the liabilities that would come into play if you were to provide cards to consumers yourself.
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