How can you leverage startup exit opportunities?

I recommend startup entrepreneurs and CEOs to set the course of actions with the outcome in mind. For instance, a startup at Seed stage will use the funds it raised to achieve product-market fit. If it fails, it may either try to raise new funds or shutdown. If it succeeds, it will raise a growth round or could get acquired (the IPO is unlikely at this stage). Entrepreneurs and CEOs also need to be knowledgeable of the dynamics of the markets they're in. Are Fortune 500 looking to buy the solutions their startup is building? Is it a fading market? The exit of a startup is conditioned by the execution as entrepreneurs, but also by the market conditions at the exit moment.

Few ways this goes: 1. All cash 2. All stock 3. Cash + Stock 4. Cash + Stock + Earnount 5. Cash + Stock + Seller Note 6. Cash + Stock + Seller Note + Earnout Learn it & understand how much CASH you are getting

Sometimes, exits just come at you from nowhere. I remember that just two months prior to COVID, I asked my partner whether she was willing to sell the company should an offer come along. It was casual curiosity on my part. And she said 'yes'. The next day, an agency leader called and asked whether I was willing to deflect to their firm. I said 'yes' on the condition that my entire firm came along. It evolved into a conversation, and two weeks after the deal was concluded, COVID became a reality. The point is to establish your exit mentality early. So when an unplanned opportunity comes your way, you will be ready to pounce.

💭 Should you start a company with the sole intention of growing it to sell it? IPO🎉 These 3 letters generate a lot of enthusiasm & excitement & for good reason (as does "acquisition” & exits"). When you build something from day 1 with the intention of selling it, then you MAY not build it the same way as someone intending to keep it and grow it. Because … When you are passionate about solving a problem … Your passion will oftentimes be infused into the quality of your product. When your passion is about your product primarily … the profit more easily follows. When your focus is about profit primarily, it can be more difficult to create a quality product. Follow your passion. Lead with your passion. 👍 Like to support this

A clear way to maximize your exit returns in case of buyout or IPO is to maximise your business value. By value I mean everything from a happy and prosperous customer base to a loyal stakeholder community. Before you even embark on your growth journey it's worth putting in the effort and time to think through what kind of business you want to build and what milestones you want to achieve before you exit. Start from the end and then reverse engineer everything.

Comparto lo que aprendí al vender mi #StarUp: * El cambio es la única constante en las fusiones y adquisiciones, todo lleva mucho tiempo desde firmar una carta de intención, que puede demorar entre 60 a 100 días. * Varias de las cartas ofertas pueden ser rechazadas debido a las prioridades de tu StartUp. * Entre más opciones tenga mayores serán tus posibilidades de éxito. *Inmersión de tiempo completo: Las fusiones y adquisiciones son un trabajo de largo aliento, pero aún tienes que administrar tu empresa. Quizas será lo más difícil que haya hecho en su vida, así que con mucha sabidurida lidera tu negocio mientras vas haciendo los procesos de traspaso de tu StartUp.

Leveraging startup exit opportunities requires strategic foresight and preparation. Focus on building a scalable business model that attracts potential acquirers. Maintain clean and organized financial records, and ensure intellectual property is properly secured. Network actively within your industry to establish relationships with potential buyers early on. Consider hiring advisors who specialize in mergers and acquisitions to guide you through the process. Lastly, always have an exit strategy that aligns with your business goals and personal aspirations to ensure a smooth transition.

If you are raising outside investment, have your most likely type(s) of exits in mind. Acquisition is often earlier than IPO and both have benefits. But, don’t rule out acquisition after IPO. That is very common and allows for a sort of 2X Exit strategy. Should you not be starting a business for much outside investment and aim to build a profitable startup, then maybe an exit strategy isn’t the right place to put your thoughts and energy. In any case, build a great and profitable successful startup and the exit will take care of itself.

I have been part of U.S based startup from last 3 years and according to my experience the best strategy to exit would be when another company acquires the startup. To achieve that, the vision should be clear from the start so all the processes and systems gets designed in a way that when a bigger company acquires you, you whole workflow model ready to work with automation for them as well.

In my years of working with startups, one piece of advice I consistently share with my clients is the importance of planning early. From day one of your entrepreneurial journey, start thinking about exit strategies. Why? Because having a clear exit plan not only guides your business decisions but also ensures you're well-prepared for the future. Whether it's an acquisition, IPO, or another path, early planning empowers you to build a business with intention, one that's attractive to potential investors and buyers. So, remember, the time to plan your exit is now. It's a crucial step toward long-term success.

I sold my company to a PE group. Build a company that an acquirer wants to acquire. This is intuitively obvious yet so difficult to achieve. Before someone wants your company, you must produce something that people want to buy that will ramp addressing a known need or a compelling yet unknown need. What makes you different? Are there barriers of entry? Treat every dollar you have as the last dollar you will ever have. Dilution is real, maintain control if you can. Once your product gains initial acceptance, not before, it is all about revenue generation. Hire well, establish a great culture, do not accept mediocrity. Exits happen when revenue, growth, and EBITDA are compelling. Have realistic valuation expectations. Enjoy the ride.

Some of the best advice I've ever received, was to begin with the end in mind. Meaning have an exit strategy in place as soon as you start getting traction so you can focus on building the startup attributes that your target buyer is looking for. That way ever step you take will be building toward achieving your goal of a productive exit. That kind of focus will not only serve you well in the end, but will help you a lot as you solicit funding from others.

For founders, the path to a successful exit event should come down to a focus not on the end goal of being acquired but instead on the process of building a great company. A laser focus on developing a great product offering that serves a significant market need and is also differentiated is the foundation upon which great companies are built. Once a founder has that in place, there needs to be an aggressive effort to drive strong YOY revenue growth. When all of these things happen, founders will find themselves in a situation where they are not only primed to be acquired but should have enough interest from suitors that they will be able to take their time, weigh their options, and choose an exit path that best meets their goals.

Have solid financial and legal foundations, a clear exit strategy, and a realistic valuation. Build an engaged customer base, assemble a capable team, and create a scalable product or service.

As a startup founder, ensuring exit readiness involves a proactive and strategic approach. This includes having a clear exit strategy from the outset, aligned with the venture's long-term goals. It means maintaining up-to-date and audited financial records, evidencing business model validity, and demonstrating sustained growth. It involves crafting an attractive value proposition for potential acquirers or investors. With all IP and compliance elements managed, legal preparedness mitigates prospective acquisition obstacles. I think engaging advisors or brokers for their expertise can be beneficial. Exit readiness ensures my startup is attractive and well-positioned for an exit transition when the opportunity arises.

Plenty of great businesses have failed to exit due to lack of solid financial and legal foundations. This was best described as making sure your business always looks like a big “BUY”. Examples of this: 1: clear and up to date financials, showing mature accounting principles and policies 2: Having all of your legal contracts and agreements neatly housed in one place 3; Making sure you haven’t been using the business as a personal piggy bank 4: ensuring things like trademarks and IP are secured (some companies only find out via diligence that they are in breach of someone else’s IP!) You need to make the buyers job simple, regardless how attractive your business might be.

Having an exit strategy from the start is very important. Have everything in place from an early stage to make it easier to exit when you are ready.

Exit readiness refers to a startup's preparedness for potential acquisitions or initial public offerings (IPOs). For startups that utilize debt financing or leverage to accelerate growth, achieving a successful exit is critical for maximizing returns for investors and stakeholders. Here are ten key considerations for leveraged startups to enhance their exit readiness: • Financial Strength • Scalable Business Model • Strong Market Position • Protected Intellectual Property (IP) • Experienced Management Team • Due Diligence Readiness • Strong Customer Relationships • Defined Exit Strategy • Network Building • Legal and Regulatory Compliance By addressing these ten areas, leveraged startups can significantly improve their exit readiness.

Plan for Post-Exit: Have a plan for what you'll do after the exit, whether it's starting a new venture, investing, or enjoying retirement. Remember that exit opportunities may take time to materialize, so stay patient and adaptable. Continuously work on enhancing your startup's value, and be ready to seize the right opportunity when it comes along.

Leveraged startups, relying on borrowed capital to fuel growth, face unique challenges when considering an exit. Here are key factors to navigate this strategic decision: • Market Dynamics: i. Market Trends & Investor Sentiment ii. Competitive Landscape iii. Economic Outlook • Company Performance: i. Milestones Achieved ii. Debt Repayment Plan • Investor Considerations: Investor Expectations • Strategic Options: Strategic Partnerships • Regulatory Landscape: Regulatory Changes • Internal Factors: Team Dynamics & Personal Goals Exit Timing: The optimal exit hinges on a dynamic interplay of factors, goals, and market conditions. Regularly adapt your strategy for a successful exit.

As a startup founder, determining the exit timing hinges on an amalgamation of factors. These include industry climate, our startup's financial health, market position, potential opportunities, and personal readiness. An exit should ideally coincide with a market upswing or when our startup exhibits consistent growth and profitability - enhancing its appeal to potential acquirers or enabling a more successful IPO. Personal factors, such as my readiness to move onto other ventures, or changes in co-founders' circumstances, may influence timing as well. Discerning the optimal timing can maximize exit value and ensure a smoother transition. Every scenario is unique, and there's no one-size-fits-all answer.

Once you get to a certain size and if exit is your intent you should always be as close to exit-ready as it is reasonable to be. Systems and processes in place. KPIs being monitored. Sales projections or forecasts done. Strategy refreshed. Sales and marketing plans updated. Accounts up-to-date. Etc. Basically be shipshape all the time - then go looking - thena sale will be so much smoother and easier.

Start-ups should always be primed for an exit, but not solely for that purpose. The goal is to build a thriving business, and it's these successful ventures that attract exit opportunities. Preparedness is key. Whether it's safeguarding your intellectual property, securing patents, maintaining robust tech infrastructure, nurturing a healthy deals pipeline, or ensuring optimal product positioning, every detail matters. If a golden offer landed on your table today, would your start-up withstand rigorous due diligence? Always be ready; opportunity might just be around the corner.

From a founder's perspective, timing the exit perfectly means you capitalize on years of hard work by maximizing the valuation of your startup. It's not just about money; it's also about the legacy and credibility you leave behind. If you exit when the startup is at peak performance, it can be a testament to your skills as an entrepreneur. Moreover, a well-timed exit can give you the resources and freedom to either take some time off or jump into your next venture with ample capital and a strong reputation. On the other hand, poor timing can mean not only financial loss but also a hit to your credibility, which could make future entrepreneurial endeavors more challenging.

Timing is critical when looking to exit a crypto startup. Consider exiting during a bull market when asset prices and investor appetite for growth are high. However, it's not just about broader market conditions. Evaluate your startup's unique growth stage and metrics. Exiting after hitting key milestones or when your product may be a trending topic in the industry can have similar effects. Time both macro market factors and your startup's progress to pick the optimal window for a exit and don't be afraid to have the conversations early.

Again, in an ideal situation everything comes together, but life is rarely ideal, so people are forced to exit early. It’s quite often the new investors that scale the company.

Consider market conditions and trends to determine the optimal timing for an exit. Economic factors, industry developments, and the competitive landscape can all impact the timing. Be prepared to adapt your exit strategy based on changes in the business environment.

Timing is everything—nail it and you’re golden. Aim to bow out when your startup is riding high, not just in profits and growth, but also in buzz. That’s when buyers’ eyes light up. Watch the market like a hawk; if it’s hot, your exit could be even hotter. But don’t forget to check in with yourself, too. Are you still fired up? Or is it time for the next adventure? The sweet spot for an exit is where your startup’s peak vibes meet your readiness to jump onto the next big thing. Get this right, and you’re not just exiting; you’re making a grand exit.

From a startup founder's perspective, the exit process begins with identifying a suitable exit strategy, be it an acquisition, merger, buyout, IPO, or dissolution. This is followed by preparing a comprehensive exit plan, ensuring the startup's financial, operational, legal, and compliance affairs are in order. Valuation of the company comes next, involving an analysis of financial performance, market trends, and more. Following this, the search for a suitable buyer or investor starts, either independently or with the help of financial advisors. The final stages involve negotiating deal terms, due diligence, and closing the deal. The entire process requires meticulous preparation, patience, and negotiation skills.

Many start-ups fail to understand the effect due diligence will have on staff and the business and don’t put enough pressure pre-planning in.

An important item that is often overlooked during the exit process is ballooning costs. Of course, it is important to remember that each exit process is unique so each startup should adopt strategies based on their specific situation and industry norms. In essence, it is important to get the basics right - namely: plan ahead, and turn to streamlined processes wherever possible. It is also important to have some in-house expertise that can help you remain focused on key tasks while conducting a thorough cost-benefit analysis.

A well-defined exit strategy is crucial for startups that utilize leverage. To maximize returns and minimize risks during the exit process, consider the following steps: • Evaluating Exit Options • Preparing for Due Diligence • Engaging Advisors • Negotiating the Deal • Legal Documentation • Finalizing the Deal • Ensuring a Smooth Transition • Post-Exit Management Remember: The exit process can be intricate and time-consuming. Careful planning and due diligence are critical for achieving the best outcome for your leveraged startup and all stakeholders involved.

Get someone with significant experience to be on your side. Each word in a term sheet can and will have an impact. Engage with advisors. Clarify terms.

The first step in an exit process is to build a wish list of every potential acquirer. These are companies in your sector that you can bring value. But only pick companies that actually buy companies. Databases like crunchbase or cbinsight can help. Then, identify the decision maker in that company, thats usually heads of lines of business. They’re the ones who sponsor M&A. Approach these execs and offer your help and keep them updated with your progress. Treat them like a prospective investor, it's a numbers game

My perspective: Navigating the exit process requires thorough preparation and expert guidance to mitigate risks and ensure a smooth transition. Helpful insight: Engaging professional advisors, like lawyers and accountants, streamlines due diligence and negotiation, safeguarding your interests. Disagreement: While advisors are essential, over reliance on them may diminish founder autonomy and overlook unique market insights crucial for strategic decision-making. Example: I've seen startups successfully navigate exits by maintaining an active role in negotiations and leveraging industry knowledge to secure favorable terms while working closely with advisors to manage complexities.

From a founder's viewpoint, navigating the complexities of an exit is often akin to steering a ship through turbulent waters. Each stage—from due diligence to post-exit transition—demands meticulous attention. Advisors like lawyers and accountants become invaluable, as they help you avoid pitfalls and maximize the deal's value. Due diligence can unearth hidden issues that could derail the deal, so being prepared is key. Negotiations can be intense and emotional; an experienced mediator can help keep things on track. Finally, the post-exit transition often gets overlooked, but it's crucial for ensuring the legacy of the startup and the well-being of its team.

1 - Target completion date, make sure you’re in constant contact with the POC at the buyers end on this date. Lack of communication on this can slow down and delay the process. 2 - Keep an up to date live contacts list for all post deal comms. You won’t want to rebuild it now. 3 - Keep buyers updated with trading progress while the deal is ongoing. They will ask for it. 4 - Completion / final docs signing can take a week. Carve out time. 5 - Communication is a huge part of this! Having all the docs ready to go; press release, blog, employee FAQs, client FAQs, website updates, social media updates. 6 - Day 1 planning post deal is key, this will take weeks of prep to ensure it’s smooth and your team understand the plan clearly and succinctly.

Develop a clear and well-defined exit strategy that outlines the steps involved in the process. Engage with legal and financial advisors early in the process to ensure a smooth and legally compliant exit.

The fist step in negotiating exit term is agreeing to an LOI: This a non-binding agreement to buy your company that can be a letter, a term sheet or even an email. Then figure out how to get a second one. Your leverage is only as good as your next best option. One alternative is getting a fundraising term sheet. In the LOI there's two things that you should negotiate : price and structure ( cash vs equity, holdback period, etc). Most LOIs will require exclusivity, so you want to negotiate just enough to give you time find an alternative

I always tell exiting founders who are selling their businesses to be careful about snatching defeat from the jaws of victory by letting ego get in the way. After all, does it really matter if you get 30 million or 33 million for your business? The first 30 is the life-changing amount!

I have been more often on the buying side than on the selling one, so here are three advices to sellers from the opposite ground. Hire a lawyer who is specialized in such transactions. Specific technicalities will make a difference, and your trusted lawyer won't know them. Manage the time factor and be patient. Once you get into the mindset of getting out and starting a new life, you get impatient. And you don't want to be impatient while you negotiate with pros with no pressure on their shoulders. It's personal to you, not to them. Last: cut as much as possible post deal commitments. You'll have to accept some but even if you are dealing with pros and you are leaving a clean situation, always plan for the worst and limit liabilities.

Exiting a startup involves a variety of factors and legal agreements tailored to the specific circumstances of the company and its stakeholders. Here's an overview of some common terms encountered during a startup exit: 1. Acquisition: • Purchase Price • Earn-out • Stock/Cash Mix 2. Merger: • Equity Stake • Management Roles 3. Initial Public Offering (IPO): • Valuation • Lock-up Period 4. Buyout: • Valuation • Financing Structure 5. Liquidation: • Priority of Payments • Wind-Down Costs 6. Secondary Sale: • Price per Share • Transfer Restrictions 7. Strategic Partnership: Collaboration Agreement Exit terms vary by startup and goals. Secure legal and financial guidance for a smooth exit.

From my experience as a startup lawyer, “letter of interest” is the first step in an exit arrangement. The LOI sets the stage for the entire exit process. It’s your opportunity to understand fundamental terms of the deal and establish a mutual understanding with potential buyers. From the moment you receive LOI, it's advantageous to work with experienced lawyers. Having a reputable M&A lawyer can also lead to better offers, as the other party is less likely to try to take advantage through the common “tricks” that happens in this stage, if they know your lawyer will hold them accountable.

From the perspective of a founder, exit terms are like the final pieces of a complex puzzle that you've been assembling for years. These terms dictate not just the immediate financial gain but also long-term implications like your role post-exit or restrictions on your future endeavors due to non-compete clauses. Understanding and negotiating these terms require a blend of financial acumen, strategic thinking, and emotional intelligence. A founder would benefit from a robust negotiating position, backed by a compelling value proposition and a realistic valuation of their startup, as it gives them leverage to optimize these terms to their benefit.

1. Understand valuation methods. 2. Cash is king. Stocks are papers that may or may not increase in value. 3. Having a deal and cash in the bank is more important than keeping your ego. 4. Timelines, future roles, indemnification, limitation of liability are important.

Understanding and negotiating exit terms is an integral part of the exit process. These terms define the specifics of the deal and can encompass aspects like the sale price, payment structure, future role and involvement in the business, non-compete agreements, earn-out period, and provisions for employees. Sorting these elements requires careful examination to ensure they align with my personal expectations, protect the interests of employees, and recognize the startup's value. Every exit scenario is different, necessitating flexibility, forethought, and strategic negotiation skills. Professional legal and financial advice is indispensable in navigating this complex process to secure favorable exit terms.

Negotiate favorable exit terms that align with your company's value and future prospects. Be flexible in negotiations but also prioritize protecting the interests of your stakeholders, including employees and investors.

Exit terms are the fine print that can make or break a startup's exit. Negotiating the price, payment method, earn-outs, escrows, equity retention, and non-compete agreements is critical. Understanding and negotiating these agreements properly will result in positive financial and personal benefits. A credible assessment, attractive value proposition, and strong negotiation stance are critical. Startups can optimize value and ensure a smooth transition by carefully handling exit conditions, while also aligning with strategic and financial objectives.

A well-defined exit strategy can significantly impact a startup's future prospects. Several factors influence this impact, including the startup's stage of development, market dynamics, investor preferences, and the founders' aspirations. Here's an overview of some common exit strategies and their potential implications: • Acquisition • IPO (Initial Public Offering) • Merger • Strategic Partnerships • Liquidation Ultimately, the impact of an exit strategy on a startup hinges on its alignment with the company's goals, the prevailing market conditions, and the interests of stakeholders. Founders should carefully evaluate their options and seek guidance from experienced advisors to identify the most suitable path forward.

when Zappos, was acquired by Amazon, the immediate response was jubilation over the lucrative deal. However, as the integration process began, many team members expressed feelings of loss and disorientation. They felt that the unique culture and close-knit community they had built at Zappos were being overshadowed by the larger corporate ethos. Some even felt their roles became redundant or diluted. This underscores the importance of not just a strategic exit but also a well-communicated and empathetic transition plan. It's not just about the exit's financial success but ensuring the team sees it as a new beginning rather than the end of an era.

Exiting can have a multifaceted impact. Financially, it can provide a significant return on investment and can also fuel my next entrepreneurial venture. It has repercussions on the employees, potentially affecting their job security and the company culture. It can change the startup's strategic direction, depending on the vision of the acquiring entity or new shareholders in case of a public offering. An exit also impacts customers who may worry about product or service quality changes. While exits often mark a successful entrepreneurial journey, the transition requires careful management to ensure positive outcomes for all stakeholders involved.

From the perspective of a founder, the exit impact goes beyond the financial transaction and seeps into the very fabric of what the startup was built to achieve. It influences the startup's culture, mission, and the lives of the employees and customers who were part of the journey. The founder's reputation also hangs in the balance. How the exit is managed—communication with stakeholders, transition plans, and even the founder's demeanor during the process—can set the tone for their future endeavors and relationships in the business community. A thoughtfully executed exit can turn a transactional event into a legacy-building moment, while a poorly managed one can do the opposite.

Maximizing optionality:- Founders must grasp the factors leading to a successful exit, such as forming strategic partnerships, Just like how PayPal founders built their company, entrepreneurs must focus on not only developing their product but also maximizing optionality—exploring various exit opportunities to secure their startup's future success.

Assess the potential impact of the exit on various stakeholders, including employees, customers, and partners. Develop a communication plan to manage expectations and ensure a positive perception of the exit.

An exit is always a separation. For founders, regardless of the positive or negative experience, it is a complex event. Many founders become anxious or depressed after exits, even successful ones. “Will I be able to find another great idea?”, “will I have the same luck I had this time around?”, “how can I make sure I don’t repeat the mistakes I did”, “can I really withstand another emotional roller coaster?” - these are all questions that exited founders raised. The most important aspect from a psychological perspective is to admit that exits can be painful and confusing. That you might not feel as happy as you and others expect you to be. And, that like many other things in life, you need time to process, adapt and grow from this.

Exit impacts ripple beyond financial outcomes, affecting your startup's core identity, customer relationships, and personal trajectory. Consider both immediate and long-term consequences across all stakeholders. A successful exit requires strategic communication to maintain trust and brand integrity. Develop a thoughtful transition plan that respects your team and preserves company culture. Approach the process with gratitude and humility, recognizing the collective effort that led to this point. Ultimately, a well-managed exit can open new doors and opportunities for future ventures.

I've experienced being forced out of something I built not once, but three times. It's a harsh lesson in the unpredictable world of entrepreneurship. I've learned that founders must mentally prepare from the very start for the possibility of an unexpected exit. It's not about being negative but about being resilient and adaptable. Prepare for the worst while working for the best. That way, you're equipped to handle any curveball the entrepreneurial journey throws at you. Keep building, stay resilient, and never underestimate the power of preparation.

Startup employees grossly over value their equity. They are essentially white collar lottery tickets —with the majority being scratchers rather than mega money ball tickets

Consider how your company culture will be impacted in an exit, and consider what you will be contributing to the parent company. I see a lot of times founders struggle with a mismatch in culture ( and they're stuck in a golden cage).

Beyond the money, the emotions, the worry over what's next: As an employee, ensure that whatever you learn while being a part of a startup is more valuable and more impactful than what you brought in when hired. As a leader, be the best cheerleader & champion you can for those who are leaving...because one day, they might be your leader.

Do not let ego get in the way. The fact is, no business stands forever. It either gets sold or pivots. Entrepreneurship is haphazardly uncertain. If you are considering an exit, whether it is a sale or a shuttering, it is usually for the best (at the point in time). So do not waste time haggling for the best deal. Settle for equitable terms and move on to the next stage of your life.

Leveraging startup exit opportunities effectively involves strategic planning and execution. Here are some key steps to consider: • Understanding Exit Options • Building Value • Networking for Success • Financial Transparency • Strategic Timing • Seeking Expert Guidance • Post-Exit Planning • Flexibility and Openness By following these strategies and adopting a proactive and strategic approach, you can leverage startup exit opportunities effectively, achieve optimal value creation, and ensure a successful outcome for your venture.

Just like you should be looking to who has your customers in the early stage to partner with for referral opportunities, some of those same partners could be ideal acquisition targets to exit your startup to in the future (same customers, who doesn't like a funnel of engaged people who already recognise your brand!).

As a startup founder, considering exit timing is significant. A premature exit might undercut the startup's potential, while delaying could lead to missed opportunities. The availability of willing and fitting buyers or market conditions for an IPO heavily influences timing. It's critical to keep abreast with market trends and industry movements. Additionally, preparing for the emotional aspect of an exit is crucial. After investing significant time and effort in building and growing the venture, letting go can be challenging. Consideration of these factors ensures a thought-out, balanced, and well-timed exit, amplifying potential success and minimizing detrimental emotional impact.

The old saying "don't count your chicks before the eggs hatch" holds true. I have seen exit deals fall apart at the last set of approvals and signatures more than once. Every leadership team should have some messaging and roadmap prepared should the deal fall through.

Start by understanding that most often reality deviates from your plan. There is a lot of competition for investors, whether they be through an angel investor, a VC, an IPO, a reverse acquisition of a public shell corporation, a strategic partner, a competitor or you're able to bootstrap the whole thing. My experience is that your agility will be required to navigate the opportunities that come (or do not come) your way. It's also my experience that, in the end, some combination of these funding/exit vehicles will be utilized in some way. One of my mentors often chided me: "think conventionally; act unconventionally." This advice has served me well in the businesses (startups and turnarounds) in which I've been involved. Know your options.