This is a checklist for the first phase of the exit process. These tasks should all be complete before engaging with the first prospective buyer. Exit Strategy Fully signed Exit Strategy document Discuss mechanisms to increase alignment The Exit Team Engage an external accounting firm for a review or audit – ideally a ‘big four’ [...]
How Exits Have Changed in 2012 – Presented at the National Angel Capital Association Summit – March 8, 2012 in Austin, Texas – Highlights of Part 1: Investing is easy – getting our money back is much more challenging Three reasons why it’s more challenging to learn about exits than investing Exits just don’t happen [...]
How Exits Have Changed in 2012 – Presented at the National Angel Capital Association Summit – March 8, 2012 in Austin, Texas – Highlights of Part 2: Boomer buyers – a new category of buyers for companies in the $20 million range Family offices – not a term we heard much in North America until [...]
How Exits Have Changed in 2012 – Presented at the National Angel Capital Association Summit – March 8, 2012 in Austin, Texas – Highlights of Part 3: Story of a Vancouver company that was acquired before it’s first year end A possible new record – the company acquired by AOL just four days after its [...]
How Exits Have Changed in 2012 – Presented at the National Angel Capital Association Summit – March 8, 2012 in Austin, Texas – Highlights of Part 4: The most devastating reason that companies fail to exit A relatively new phenomena driven by the amount of cash available, number of buyers and the internet The buyers [...]
Highlights of Part 6 – Financing Strategy for Maximum Exit Value: Axel Christiansen introduction. And why is he so funny? What is Sub Debt and who is it useful to? In what types of exit transactions? Company value as a multiple of EBITDA. The “New Normal”. Seven reasons to create a financing package. Vendor notes [...]
If you own any part of a ‘service’ business you must read “Built to Sell”. John Warrillow has crafted an effortlessly readable, but incredibly important, book on business strategy for owners and decision makers in ‘service’ businesses. I keep putting quotes around ‘service’ because I’m not sure John and I agree on the precise definition. [...]
Being an Entrepreneur in the 21st Century Video Series Presented at New Westminster, BC ByzHub Meetup on October 20, 2011 The PowerPoint for this talk is available here. Highlights of Being an Entrepreneur in the 21st Century – Part 1: Everyone living here has enjoyed a very high standard of living. Unfortunately, that’s changing. The [...]
Highlights of Being an Entrepreneur in the 21st Century – Part 1: Everyone living here has enjoyed a very high standard of living. Unfortunately, that’s changing. The economy has changed. The whole world is changing. Entire countries are bankrupt and more are certain to follow. Lehman Brothers is gone. GM was bankrupt. Why is this [...]
Highlights of Being an Entrepreneur in the 21st Century – Part 2: Uh, Oh. These are our friends and family! And we really need their money. The solution: Fairness, Alignment and Governance. All built into the structure of the company. More good news is that there are lots of angel investors. Angel Co-Investment – groups [...]
