Category: Exit Strategy

Exits in 2012- Part 1

Angel Investing

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 very often - learning ...

Angel Investing

Every company needs an exit strategy. Ideally, the exit strategy should be signed off by the founders before the first dollar of external investment goes into the company. A good exit strategy, well matched to the characteristics of the business and market, will: improve the probabilities of success shorten the time to exit, and often significantly increase the ultimate exit valuation This is especially t...

Entrepreneurship

Companies certainly have cultures. They also seem to have DNA. Corporate DNA is formed early on in a corporation's life-cycle. But unlike most living creatures, a company's DNA can change later in life. Corporate DNA, like all other DNA, determines, to a large extent, the characteristics and success of the organism. Flaws in the DNA can lead to infant mortality, or failure modes, that might not be apparent for many years. When investors, o...

Angel Investing

The most important new data on angel investing comes from Robert Wiltbank of Willamette University and Warren Boeker of the University of   Washington. Robert Wiltbank is one of the world's pre-eminent researchers on angel and VC investment. One of the fascinating aspects of this research is  how VC investors affec...

Exit Strategy

Sponsored by the Angel Capital Education Foundation and the Angel Capital Association presented at the Angel Capital Association National Summit, Silicon Valley May 5, 2010 Part 2 - Exit Strategy Part 2 PowerPoint PDF here Part 2-1: Focusing...

Exit Strategy

Start at the End - Your Exit Strategy - Part 4 Highlights of Start at the End - Your Exit Strategy - Part 4: The Unintentional Moonshot - 92% of exits don't work for traditional Venture Capital funds. In the 1990s the time from VC investment to exit was only 2 or 3 years. Today, the median time from when a VC fund invests to an exit is about 7 years. But that actually means, on average, y...

Exit Strategy

Start at the End - Your Exit Strategy - Part 3 Highlights of Start at the End - Your Exit Strategy - Part 3: Why you need an exit strategy right from the beginning - and certainly before you contact your first prospective investor. Why it is essential to check the DNA compatibility before you accept money from investors. How a mistake with DNA compatibility can be fatal and how I almost lost my fir...

Exit Strategy

Start at the End - Your Exit Strategy - Part 2 Highlights of Start at the End - Your Exit Strategy - Part 2: Do you even need investors to make it big today? Why this is a golden era for entrepreneurs. The Club Penguin example - it's never been easier for entrepreneurs to make a lot of money - quickly. Back in the 1980s almost every company cost $tens of millions to build. That ...

Exit Strategy

Start at the End - Your Exit Strategy - Part 1 Highlights of Start at the End - Your Exit Strategy - Part 1: Your exit is the culmination of all the hard work you do as an entrepreneur. First - why are you doing this? Why have you chosen to be an entrepreneur? Entrepreneurs have complex motivations. Investors are easy to understand - we think of your company as a simple black box.

Exit Strategy

Start at the End - Your Exit Strategy - presented at the 2009 New Ventures BC Seminar Series Why every company needs a clear exit strategy right from the beginning This was the final seminar in the 2009 New Ventures BC Seminar Series. PowerPoint PDF here