Exit Path: How to Win the Startup End Game

CHAPTER 13

FOCUS ON EVERY SHOT

Every shot counts.

—Sir Henry Cotton

In Part III, you learned how to play the long game of M&A during which you build the foundation for mutually advantageous, long-term relationships with potential partners, expanding the horizon of strategic possibilities for your startup. It is now time to turn to the more tactical parts of selling your startup, a process I call the short game of M&A. It is at this stage of your startup’s life cycle that you get to harvest the fruits of years of effort cultivating your relationships, capabilities, and leverage. You are now ready to drive toward, and negotiate the terms of, the combination of your startup and potential acquirers. The short game is, true to its name, short and ...