Selling a Business - A Guide for Entrepreneurs and Investors

This video series is a practical guide on selling a business, the exit process, the exit team and how to sell for 50% more.

The video is from my keynote speech at the National Angel Capital Organization Annual Summit late last year.

Some of the topics include:

• Successful investing requires two things - investing right and exiting well
• Exiting well means selling a business at the right price but also in a reasonable amount of time
• Why its important to engage professionals and why the CEO should not lead the exit
• The exit is just another business process and why every company needs an exit strategy
• Term sheets create exit alignment and vesting is the most important term
• Who are the buyers for tech companies today?
• Corporate buyers are often the fiercest competitors for traditional Venture Capital funds
• Today, companies are often acquired just two or three years from start-up
• The most important criteria for selecting the M&A Advisor and the M&A Advisors functions
• M&A Advisor fees and why the M&A Advisor should be local
• The benefits of doing a secondary sale before the exit
• Things to do before contacting the first buyers - clean up the structure, employment agreements
• Financial statements - review or audit, the financial model, tax considerations, the sales collateral
• The sales funnel and ways to maximize the final selling price of the business
• Structural value increase, illuminating strategic value, capitalizing on inefficient markets
• Why you always need multiple bidders and the selling skill of the M&A Advisor
• Reps and warranties, the closing process, it's recycling other resources on selling businesses

The video series on Selling a Business is online here.