Being an Entrepreneur in the 21st Century -Part 3

BY Basil Peters

Highlights of Being an Entrepreneur in the 21st Century – Part 3:

  • Many big companies have so much cash that it’s a problem.
  • Big companies are not the only buyers. There are many more medium and small sized buyers.
  • And an even larger number of successful, wealthy, boomers who have realized they aren’t ready to retire.
  • A “weekender” is where entrepreneurs build an entire company in a weekend.
  • In 2009 when I wrote “Early Exits” I speculated that one day:
  • “They’ll probably define an early exit as selling the company before the end of the weekender”
  • That almost happened in November 2009.
  • A local really early exit: This is a Vancouver company but they asked me to keep their details confidential – for now.
  • This company was successful sold less than 12 months from startup and they hadn’t launched the product yet.
  • Here is a list of exits that happened in the 2 to 3 year from startup range – but they were also huge.
  • How early can you sell? Why selling early is often the optimum time.
  • The most heartbreaking error I see is entrepreneurs waiting too long to start the exit. Here’s why.
  • What works best today: startups innovate and create new jobs, angels and friends and family finance them.
  • Angels and friends and family finance them. If they really can’t be bootstrapped.
  • Big companies, and others, buy and continue to grow the businesses. Entrepreneurs and angels to it all again.
  • I believe this time will come to be known as a “Golden Era for Entrepreneurs”
  • There has never been a time before when, it was so easy for entrepreneurs to create such valuable companies,
  • On so little capital and sell them so early for so much money

Part 3 of the Being an Entrepreneur video series is also available on Youtube.

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