Category: Exit Strategy

Angel Investing

This keynote from an Angel Capital Association regional meeting describes three successful exits that were also what I call "Accidental Exits." By that I mean exits that were the result of an unplanned approach from a buyer. In this very active M&A market, sellers are often being surprised by buyers changing the conversation and offering to buy the company. Highlights from Accidental Exits: We don't have hard data to help us ...

Angel Investing

This was the first presentation of the new Exit Strategies workshop that I developed for the National Angel Capital Association's NACO Academy. This is the Canadian national organization that provides education for angel investors and entrepreneurs. The new Exit Strategies workshop was first presented at the Golden Triangle Angel Network in Waterloo, Ont...

Exit Strategy

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. Key Points: We dramatically underutilize exits as part of our life strategies To succeed, CEOs have to learn to b...

Entrepreneurship

Lecture to the MBA class: Growing and Exiting a Venture at the UBC Sauder School of Business on why I believe this is a 'Golden Era' for entrepreneurs. Topics include: There has never been a time before when it was so easy for so many entrepreneurs, to create such valuable companies on so little capital, and sell them so early for so much money The biggest change in the 21st century Big...

Early Exits

I Thought I Understood Patents When I was CEO of my first technology company I thought I understood how patents worked. But it was only after managing a hedge fund for a few years that I began to appreciate the risks patent holders face. Many entrepreneurs think that the real test of a patent’s value is whether or not it will be granted. But in my experience the real value isn’t known until you’ve spent years, and millions of dollar...

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 video is a talk I gave at the Element8 angels workshop in Seattle: Investing a World With Few Exits. Some of the key points from my talk: I believe only 25% of all companies that could have been sold actually end up successfully exiting If a company misses the ideal time to exit, then the most likely result is that it will fail completely...

Early Exits

This is an excerpt from a talk I gave at the Element8 angels workshop in Seattle: Investing a World With Few Exits. Some of the key points from my talk: I believe only 25% of all companies that could have been sold actually end up successfully exiting If a company misses the ideal time to exit, then the most likely result is that it will fail ...

Entrepreneurship

When I was in grad school I co-founded a company that grew to become the second largest manufacturer of cable television headend equipment in the world. For the ten years after I graduated, I woke up every morning thinking of ways to out-innovate our two major competitors. We were a startup and they were both Fortu...

What Happened to Venture Capital

Entrepreneurship

This was a lecture to the MBA Entrepreneurial Finance Course at the University of British Columbia Sauder School of Business. Here's what happened to the Venture Capital industry: Intel, Microsoft and Cisco aren't making money for their shareholders Or, more importantly, for their employees That's part of the reason the best and brightest are now working in startups Big companies have lost their a...