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Early Exits: Exit Strategies for Entrepreneurs and Angel Investors (But Maybe Not Venture Capitalists)

3.93  ·  Rating details ·  94 ratings  ·  10 reviews
Exits are the least understood part of investing and entrepreneurship. Very little has been written about exits - the emphasis is usually on starting, financing and growing technology companies.

Most of the earlier books on exit strategies were written for business owners who wanted to retire. More recently, there have been a number of books written about exit t
Hardcover, First, 195 pages
Published March 2009 by Meteor Bytes Data Management Corp. (first published January 1st 2009)
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Scott Li
May 22, 2017 rated it really liked it
An under-rated topic for most founders. Good thesis, but not sure on the tactical suggestions.
Christian LeFer
Boy, this guy does NOT like Venture Capitalists! But, VC is changing, and if I could ask Peters, he'd probably say for the better. As capital markets converge, VC is becoming more responsive and transparent thanks to people like Brad Feld and others.

I'll admit, until I read Early Exits, I had not looked quite as strategically at positioning to maximize the perceived (and real) value of my business for the purpose of exiting as I do now.

This book is a MUST READ for entrepreneurs - it
Brian Morin
Oct 06, 2011 rated it it was amazing
Terrific view of how to exit a high tech company early, make a reasonable nest egg, and prepare to do it again.
Jul 09, 2016 rated it it was amazing  ·  review of another edition
Fascinating Insights

The author does a terrific job describing the value of early exits to investment returns and improving the odds of a successful liquidity event.

His insight that you should secure alignment from the very beginning on your exit strategy among the founders and early investors is invaluable. As he points out, most boards and management teams miss the opportunity to secure their maximum valuation because they are too focused on their day to day efforts, do not think to sell unti
Feb 12, 2012 rated it really liked it
Este libro propone ideas interesantes sobre el modo de operar y la dinamica financiera de los fondos de Venture Capital y como provocan en las satrtups una mortandad mas alta y un retorno mas remoto para los fundadores y los inversionistas angeles, al buscar los "homeruns".

Habla de una nueva epoca para inversiones en tecnologia donde gracias a las reducidas inversiones para arrancar la empresa y haciendo uso inteligente de los recursos ("Bootstrapping"), es posible tener salidas o "e
May 30, 2011 rated it liked it
This was a quick read despite ample filler text that conspired to make an already short book appear longer than a series of essays. The author does a great job of providing some valuable insights into startup exits. The only problem is that the author's aim appears to be to offer one size fits all for different industries and companies without spending enough time researching industries and companies that he isn't familiar with. In this regard, the book is a lot like Good to Great. A lot of inte ...more
Dec 26, 2014 rated it liked it
Overall I understand the point made by Mr. Peters but I do not agree. He however does have more than two decades worth of experience on me so it is something that should be mulled over.

One thing that profoundly bothers me is that the Executive Director (Wade Brooks) of one cited sources (Willamette Angel Fund) does not agree with the interpretation of the data provided by Mr. Peters. If the information held true time and time again then would not Wade Brooks and Robert Wiltbank be gr
Jose Vieitez
Mar 27, 2015 rated it liked it
Summary of book: don't raise vc funding, exit sooner, so you get money sooner, and therefore, do more startups more often, because building billion dollar companies is improbable, so don't even try.

The premise makes sense (not everyone should raise vc funding), I often don't l agree with the arguments used to justify the premise, though (often opinion rather than data-focused arguments).

Worth reading for a new perspective.
Jose Papo
Jun 29, 2015 rated it really liked it
A very insightful book. The book gives many examples on why Early exits can be sometimes better for the entrepreneurs and to the angel investors than having many rounds of VC Funding and the dilution that happens. Considering also the new reality( where you don't need lots of money to start your growth trajectory, IPOs are becoming rare, companies are staying private longer and acquisitions are growing as an exit strategy) this book is a very good read.
Mar 05, 2014 rated it it was amazing
Excellent overview of early stage investing and the risk associated with VC involvement. A good case for early exits is presented.
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Basil Peters is an angel investor with a passion for exit transactions. After being an investor for a couple of decades he finally realized that successful investing requires two things: making the right investment decisions and getting your money back. The most fun Basil's had as an entrepreneur, and an investor, are when companies are successfully sold.

Dr. Peters is the principal of
“Angels also often want to contribute more than money to a young company. Angels have the experience, and inclination, to be great mentors and valuable directors.” 2 likes
“Built to flip' should not be a dirty phrase or unnatural act. I believe that to succeed today, entrepreneurs must not only aspire to early exits, but design that objective into their corporate structures and corporate DNA.” 2 likes
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