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Posted: Mon Jan 06, 2025 4:36 am
Hopefully, you've returned to this paragraph from the beaches of the Black Sea or a mountain retreat in Altai. If the desire to exit the business has taken a more structured form in your head during this time, then you're probably now wondering whether the team can hold out without you.
The good news is that this problem has most likely already been worked out by the vacation from which you have just returned. The processes have not gone down the drain, breaking through the lower bar of target indicators, sales are going well, and there are not fewer clients? This means that you have excellent top management that will cope even after you leave.
sorp.ae
Sometimes the decision can be difficult to make because the benefit is unclear. This often happens when a founder is thinking about leaving a project at the growth stage: thoughts of missed opportunities weigh heavily on their minds. When it comes to finances, it is better to think about other scenarios, rather than exit: do you want to belgium whatsapp phone number exit the business and move on, or do you want to exit the operational processes and receive dividends?
Remember the original reason for your desire to leave: is there anything you can do now to multiply the business? Do you have the energy for it? Are you ready to stay longer for this? If not, plan to transfer your affairs. The decision to “wait for a better price” is not the best one: the circumstances in the market or in the country can change dramatically. And the higher the cost, the narrower the circle of buyers and the very probability of exit.
For those who want to leave the founder role, but are not ready to abandon the project to its fate, there is always the option of staying in an alternative role. For example, as CEO. Another option for those who are not ready to hand over their business to an unknown buyer is selling over several years using a formula, for example, a put option. The scheme is divided into four years, in each of which you can sell 25% of the company. At the end of each period, you can decide whether to keep the rest or not.
To better understand whether to wait on the mountaintop or let someone else get there, I advise you to set aside time for reflection. Take a break, abstract yourself from emotions and think about whether you still see yourself as a team leader. For example, the Y Combinator fund asks founders the following questions :
What other startup growth ideas can you suggest?
What profit do you estimate these ideas could generate?
Do you want to work for a startup that is moving in this direction?
If you understand from the answers that you can (and most importantly, want) to give a new impetus to your business, stay. If you are still not sure, but there is still fuel to overcome the further path within the project, try to sell a larger share, keeping some percentage and the position of the manager. By the way, in the case of my startup, I did just that.
On the topic. Entrepreneur's dictionary: exit
The good news is that this problem has most likely already been worked out by the vacation from which you have just returned. The processes have not gone down the drain, breaking through the lower bar of target indicators, sales are going well, and there are not fewer clients? This means that you have excellent top management that will cope even after you leave.
sorp.ae
Sometimes the decision can be difficult to make because the benefit is unclear. This often happens when a founder is thinking about leaving a project at the growth stage: thoughts of missed opportunities weigh heavily on their minds. When it comes to finances, it is better to think about other scenarios, rather than exit: do you want to belgium whatsapp phone number exit the business and move on, or do you want to exit the operational processes and receive dividends?
Remember the original reason for your desire to leave: is there anything you can do now to multiply the business? Do you have the energy for it? Are you ready to stay longer for this? If not, plan to transfer your affairs. The decision to “wait for a better price” is not the best one: the circumstances in the market or in the country can change dramatically. And the higher the cost, the narrower the circle of buyers and the very probability of exit.
For those who want to leave the founder role, but are not ready to abandon the project to its fate, there is always the option of staying in an alternative role. For example, as CEO. Another option for those who are not ready to hand over their business to an unknown buyer is selling over several years using a formula, for example, a put option. The scheme is divided into four years, in each of which you can sell 25% of the company. At the end of each period, you can decide whether to keep the rest or not.
To better understand whether to wait on the mountaintop or let someone else get there, I advise you to set aside time for reflection. Take a break, abstract yourself from emotions and think about whether you still see yourself as a team leader. For example, the Y Combinator fund asks founders the following questions :
What other startup growth ideas can you suggest?
What profit do you estimate these ideas could generate?
Do you want to work for a startup that is moving in this direction?
If you understand from the answers that you can (and most importantly, want) to give a new impetus to your business, stay. If you are still not sure, but there is still fuel to overcome the further path within the project, try to sell a larger share, keeping some percentage and the position of the manager. By the way, in the case of my startup, I did just that.
On the topic. Entrepreneur's dictionary: exit