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Startups, Always "Mind" the Exit
Transcript of Startups, Always "Mind" the Exit
do not help
2) Running out of cash
brings to DoD zone (Death or Dilution)
may compromise your exit strategy
KEEP ALWAYS YOUR EYE ON THE BALL, i.e. THE EXIT
Chairman, Mind the Bridge Foundation
... crossing the Finish Line
DRIVING EXIT VALUATION
#STARTUPS, ALWAYS "MIND" THE #EXIT
The final goal (Dave McClure)
The ultimate metric
Turn into cash-flow-positive
The ultimate proof of success
Have an Exit at a «fair» valuation
FIRST, SHOW ME THE MONEY
COOL, WHAT’S A «FAIR» EVALUATION?
Price vs Amount of Capital raised
(not all investors cross the finish line)
(not all founders cross the finish line)
Price vs Time
Better «quick and dirty» than never
Price vs Deal Terms
Cash vs Paper
3. Sustained Growth
4. Exponential Growth
LOW vs. PREMIUM
MOST OF THE TIME
WHAT'S YOUR ULTIMATE GOAL ?
It’s like taking drugs,
addictive and expensive
“Money is like gasoline during a road trip
You don’t want to run out of gas, but you’re not doing a tour of gas stations.” (T.O’Reilly)
"Raising a lot of money gives the illusion that a startup has made it." (M.Andreessen)
No exit, no "real" party.
“Kicking the can down the road is not a strategy” (F.Sturgis)
Don’t raise another round just for kicking the can another mile.
Which ones to use?
It really depends
the company is in
by Alberto Onetti @aonetti
1) Hiring is an easy-sounding solution to many problems startups face. But once you stop being lean, you can become
slow to execute
2) When you're a bloated company,
to support that size operation can be hard to do
3) If you have a high burn rate, no one will
High burn rates
You are not done
if you’ve slipped into working regular hours and your Facebook feed slowly fills up with snaps from weekends away on city breaks, at parties and gigs— I’m here to tell you your startup is already dead (Paul Smith)
You have far more to do and far more to prove after you raise money, than you do before.
RAISING MONEY DOESN'T MEAN TO BE SUCCESSFUL