Category: Exit Execution

Preparing to Sell - First Steps in the Exit Process

Exit Execution

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 If necessary, discuss mechanisms to increase alignment The Exit ...

Exit Execution

This was the first presentation of the new Exits Execution workshop I developed for the Angel Resource Institute. I've been a fellow at this institute for many years and contribute new educational content as often as I can. The Exit Execution workshop was first presented at the Angel Capital Association An...

Exit Execution

Keynote from the Business Transitions Forum in Vancouver, BC. Learn how to determine the price you'll receive when you sell your company and what you can do to ensure the price is fair. This talk describes the market factors which affect the price and describes what you can do to maximize the final valuation. Highlights from How Much Will Your Company Sell For? About half of the peo...

Exit Strategies for European Technology and Life Sciences Companies

Exit Execution

At the Artic 15 Conference: Exit Path in Helsinki, I describe exit strategies for European technology and life sciences companies. And explain why I believe growing a knowledge-based company in Europe today can be better than building one in Silicon Valley. Highlights include: Why it used to be easier to grow a company in America Yes, raising capital in Europe is more challenging and why Fortunately, capital...

Angel Investing

This Early Exits Workshop was presented at the National Angel Capital Organization (NACO) Annual Summit in Banff, Alberta. NACO Summits are usually around 500 attendees. Most people are from Canada, but international attendance increases every year. Key Points from Part 1 - Early Exits Seed and startup investing is changing The “Traditional VC model” is broken Startup costs ar...

Exit Execution

What I’m about to describe is difficult for some people to understand. Recently, I completely failed to convey this concept to an experienced professional accountant. The fact is, nobody can sell your cash well. What I mean is this: if you’re thinking about selling your company, I feel strongly that it’s desirable to strip out the cash that’s not absolutely necessary before starting the exit valuation negotiation with pr...

Exit Execution

For almost every M&A transaction the Confidential Information Memorandum (CIM) contains both actual financial results and projections.  (The rare exception is a company whose entire value is a patent portfolio.) In companies with external investors, management teams are familiar with projecting financials. This is a necessary part of projecting future financing requirements. For internally financed companies that are ready to exit, the enti...

Exit Execution

This is the first time I've described all of the things we did wrong the first time I tried to sell a business. It's also the story of the first time I lost several million dollars. How Not to Sell a Business - Don't Blow The Biggest Deal of Your Life This is a talk I gave to the Vancouver Chapter of the Entrepreneurs Organization (EO) on February 19, 2009. It is consistently the most viewed video on my blog. In this talk, I compare my f...

Exit Execution

I'm convinced that only about 25% of saleable businesses end up having successful exits. Yes. I believe that about 75% of the time, when a company could have been successfully sold, the result was either a transaction at prices or terms below market - or even worse - no sale at all. Most of the time, it was preventable. The biggest reason this happens is simply due to a lack of knowledge. The Frustrating Lack of Data on Exits One of the ...

Basil Peters at the AM&AA Summer Conference 2012

Exit Execution

When a saleable company fails to sell, it's often the seller's psychology that kills the transaction. Most of the time, the seller doesn't even know that they were the reason their company failed to sell. This talk describes the seller psychologies that can kill exits. The Psychology of Exits Presented at the Alliance of Merger and Acquisition Advisors Summer Conference July 10, 2012 in Chicago Highlights: W...