The Episode in 60 Seconds
Dream Big – Sell Big
- Swiss people have a tendency to sell themselves and their business short. Instead of going for the billion dollar deal, they settle for the first offer which comes their way. Dare to be great and know your true potential.
Don’t crack under pressure
- One of the reasons founders sell their companies too early (and too cheaply) is because of the immense pressure they are under; from employees, family, VCs and, sometimes, from themselves.
- Know that VCs may not always have your best interest in mind and/or know the business like you do.
- Be truthful with your employees, especially in hard times. If you have invested in building a company culture, this will now pay off.
Selling done right
- The bad news: you cannot plan an exit strategically. The good news: if you’re good at what you do, the opportunity will arise naturally.
- Make plans but be ready to abandon them if a better course of action presents itself.
- Money isn’t everything. It may be smart to accept a smaller offer if this means that your company’s vision will persist and your employees will have a “good home” even after the acquisition.