The business concept that I have thought about and put together for the duration of this semester is a business that would take many years, even decades to develop. I would focus on running the business for a few decades and then retiring. What I would do when I am ready to retire, I am not. It is possible that I would hand the business down to a family member, or depending if I can net a large return, it is possible I would sell.
I have selected this particular strategy because a consulting business is not built overnight. It takes many years and many successful contributions to create a firm that is well-known and worth anything. I would like to head the firm until retirement and then hand off the company into the possession of someone I believe is capable of continuing the direction it needs to go.
I know my business concept will take years, if not decades to develop. Knowing that, my growth intentions and my plan to use and acquire resources is extremely long-term. The best resource for consulting is experience, and experience is gained with time.