The Art of Exit
Last week, I shared my exit experience at an Entrepreneurs Organization Poland meeting. It was a great chance to put some thoughts together that might be useful for other founders.
Why even think about an exit?
Because keeping all your money in one place (your company) is risky. It’s smart to have flexibility – cash, liquidity, and options.
Also, your values and priorities might change. An exit gives you space to ask yourself: Do I still want to be an entrepreneur, or is it time for something new?
Maybe you want to build another company. Maybe you’d rather invest in other people, or support causes you care about. That can have even more impact than your original business.
Professional succession – not just for big corporations
I’m a big fan of founders handing over the company to professional managers. Why?
- Because the company doesn’t have to be about you. You can keep it, live off dividends, start something new – or just take a break.
- Because it’s easier to sell if it’s not personal. It’s just a cool company someone wants to buy. The discussion is about the business, not your feelings.
- Because earnouts suck. Do you really want to work like a regular employee in a company that’s no longer yours?
- Because buyers feel safer when the founder is out of the picture. Professional managers can be replaced. Founders – not so much. Less risk = higher price.
How to avoid a bad exit
Always run a proper process. More offers = better price. Every time.
Don’t do it alone. You need at least two advisors:
- M&A advisor – someone who can build a long list of buyers. You’ll be surprised who might be interested – sometimes it’s a company you’ve never heard of.
- Lawyer – a good one. Someone who’s done exits before.
Also: tell a strong story. Prepare a data room. Set a timeline. A serious, structured process makes a huge difference.
Final note
If you’re thinking about an exit – happy to chat. I’m not a consultant charging by the hour. I’ve been there. And I’m happy to help.
