The third presentation at The Exit Strategies Workshop 2011 explains why every company should have a clear, signed exit strategy.
Highlights of Part 3 – Every Company Needs an Exit Strategy.
- The exit is just another business process.
- Companies should be sold – not bought. Why this is such a critical concept.
- Optimum exits require strategy and planning.
- A focus on exits is healthy – it does not detract the team from their primary mission.
- I believe entrepreneurs and angel investors would have better returns and more fun if we designed and built more companies with a focus on the exit.
- Why the exit strategy is the most important element in the business plan.
- It can be as simple as: “Our exit strategy is to [sell the company] in about __ years for around $ __ million.
- Why it’s essential to have alignment on the Exit Strategy and how to maintain it.
- The importance of having a clear exit strategy before doing any work on financing.
- How I almost lost my first company by not understanding this.
Part 4 is online here.