Basil Peters Famous Quotes
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Exits are the best part of being an entrepreneur or investor. It's when we get financially rewarded for all of the creativity, hard work, investment and risk we put into our companies.
In the vast majority of exits where shareholders receive a good price for their company, there is an experienced business broker or M&A advisor.
Today, the optimum financial strategy for most technology entrepreneurs is to raise money from angels and plan an early exit to a large company in just a few years for under $30 million.
Angels also often want to contribute more than money to a young company. Angels have the experience, and inclination, to be great mentors and valuable directors.
VC bias toward swinging for the fences means companies that could have exited easily in the $20 to 30 million range will end up being 'ridden over the top' and eventually worth much less - or possibly nothing at all.
Built to flip' should not be a dirty phrase or unnatural act. I believe that to succeed today, entrepreneurs must not only aspire to early exits, but design that objective into their corporate structures and corporate DNA.
In the most successful exits, the company should be delivering its peak performance for the months leading up to the final price negotiations and closing.
Every company needs an exit strategy and an exit plan. Ideally, the exit strategy should be agreed upon by the founders before the first dollar of investment goes into the company.
Exits are the least understood part of investing - as often by the investors themselves as by the entrepreneurs. This book is about the large number of other exits - the ones that are not driven by the VCs.
From the time that all of the sales collateral is complete until the cash is in the bank, the exit process can take as little as 4 to 5 months and as long as 18 to 24 months.
It is highly desirable to have all the due diligence documents in the electronic data room before the rest of the selling process gathers momentum.
It's much easier to understand the pricing mechanisms for exit transactions if you look at it from the perspective of the professionals doing the business.
As VCs invest more and more money in each company, they have to wait longer and longer before they can exit.
