Vision without action is a daydream.

—Japanese proverb1

Do you know what large, successful acquisitions such as Facebook’s purchase of Instagram and WhatsApp, Google’s purchase of YouTube, or Microsoft’s purchase of LinkedIn all have in common? They are all overnight successes years in the making. The following chapters are focused on deconstructing the “years in the making” aspect—the long game that entrepreneurs play to get to that overnight success. The long game in M&A involves taking your exit strategy and implementing it deliberately and patiently, with a purposeful mindset and orientation.

The conventional approach to implementing a strategy is that you systematically proceed from the planning phase to the ...

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