Exits Classics

Exits Classics

How Often Do You See Smart People Leaving a Big Company? Here’s a typical article from a couple of days ago: Microsoft Loses Key Public Sector, Visual Studio, and Bing Execs (UPDATED) The article starts off with: “Several high-ranking Microsoft executives exited the company this week.” And ends ...

Exits Classics

This was a talk to several hundred M&A professionals at the Association of Mergers & Acquisitions Advisors annual conference. The organizers asked me to discuss ways to increase the final selling price and gave me this title to work with. Key Points: The first step: Hire a really good M&A Advisor – seriously Isn’t going “from 3x to 7x” the main reason to hire an M&A Advisor? Selling a business for 3x is a heck ...

Exits Classics

I was a little sad listening to President Obama talk about his job creation plans last week. Most of us in North America would agree that our highest economic priority is finding ways to create more new jobs. My take on Obama’s plans is that he proposes to borrow more, or tax more, to subsidize companies to hire the people who are least employable. He also plans to require companies to “buy American” as long as that won’t increase prices...

Exits Classics

I started my first company, Nexus Engineering, when I was still a grad student. A little over ten years later, the board decided it was time to sell. The company was the second largest manufacturer of cable TV headends in the world. The number one and number three in our vertical were Fortune 500 companies. Our Exit Strategy Our exit strategy was to sell our company to a Fortune 500 company in the defense business. At that time the...