Deciding to sell a company is one of the biggest decisions we make as business owners. It will change your life in ways that are impossible to imagine.
And it will often change the lives of your shareholders and employees. And, as important as this decision is, the truth is – we are not very good at exits.
- We dramatically underutilize exits as part of our life strategies
- To succeed, CEOs have to learn to be good at many aspects of business
- Much of what we learn is empirical – we learn by doing, by trial and error
- That doesn’t work very well with exits
- Simply because exits don’t happen very often
- To be a successful entrepreneur we have to be indefatigable optimists
- But those same genes make most of us particularly poor at assessing risk
- Exit case studies with valuations are quite rare
- Primarily because almost all exits are covered by NDAs
- Here are a few war stories that we have permission to share
The PowerPoint for this talk is online here.