Why All Tech Entrepreneurs Need An Exit Strategy
| ravi22 - Patna, Bihar - Aug 20, 2024 |
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message ravi22 about this ad Most tech entrepreneurs are too busy running their startup to think about leaving it. In fact, a lot of them cant the idea of ever leaving the business they founded and nurtured. However, as strange as it may sound, an exit is just as important as a business plan. Every tech entrepreneur should develop one before launching their business. Indeed, an exit plan will determine the direction in which the startup will go. Having the ambition of going public will require a different corporate than trying to merge with another company or selling the business outright. Further, its important that the founder(s) agree on their long-term vision before they launch their startup. This avoids unnecessary confusion and subsequent tensions between founders. Some tech entrepreneurs are specialized and most interested in starting and scaling projects. They arent particularly keen on managing large with demanding shareholders and multiple stakeholders. They enjoy launching companies and exiting long before they hit the big time. This allows them to raise the necessary capital to move on to their next ambitious project. Other entrepreneurs dream of blockbuster IPOs and acquisitions that will make them wealthy. They dont mind relinquishing control of the company in exchange for equity, a comfortable salary and a seat on the board of directors. Clearly, these two types of tech entrepreneurs have very different goals and ambitions. Thus, they need to formulate an exit plan to make their dreams a reality. message ravi22 about this ad |