The Exit Strategies Conference - September 8, 2011 - SFU Downtown

If you own shares in a private company - this will be a very valuable conference

• Entrepreneurs and investors would have more fun, and more money, if we had more exits
• Exits are not well understood
• Exits are an under utilized business, and life, strategy
• Why exits have changed so dramatically recently
• Big companies suck at innovation

• The best way for big companies to grow
• Most exits are under $15 million
• Google wants to buy "pre-revenue"
• Sales are often just 2 or 3 years from startup
• The current exit environment is hot
• We are really good at early exits in BC
• This is a golden era for tech entrepreneurs and angels

• Companies should be sold, not bought
• The exit is just another business process
• Decide what your goals are
• Determine the kind of company you have
• How to design your exit strategy

• Building alignment on your exit strategy
• Corporate DNA
• The Equity Effect - a critical timing factor
• Vesting - being fair to the founders

• Exits and Investors
• Investors' DNA
• Bootstrapping
• Friends and Family - the really big money
• Why VCs will block good exits

• Angel investors
• Angels fund 27x more startups than VCs
• Choosing between angels and VCs
• Who gets to vote on the exit?
• Investment Terms Sheets and Exits

• Who are the buyers for companies like yours?
• Why the number of buyers is increasing
• Big companies have too much cash

• Small company and Boomer buyers
• Why your buyer might be a public company
• Why your buyer might be in Asia

• A common misperception is that the company needs to be profitable
• Or over $ X million in revenues

• All you need to do is prove the model
• Zero revenue companies get bought all the time

• The most common mistake entrepreneurs make
• Where our human nature defeats us
• Why most boards wait too long to start the exit
• Watch out for "Waves of Consolidation"

• Getting some advice on timing your exit
• How long does it take?
• Steps in the exit process
• What if one firm says they can do it faster?

• How Much Can You Sell for?
• Valuation Methodologies
• Don't pay for a valuation

• Factors that affect your valuation
• Things you can do now to increase value
• How patents play into valuation

• The sales collateral
• Building the financial model
• Preparing your selling document
• The magic of "Secondary Sales"
• The sales funnel for your exit
• Record keeping and information management
• The Hell of Due Diligence
• The buyers will know more about your business than you do

• Tax Planning - Start Years Before the Exit
• The Costs and Financing Your Exit
• Doing a Bridge Financing
• The letter of intent, offer, deposit and exclusivity
• Employment Agreements
• Reps and Warrantees
• Closing

• Exits are an enormous amount of work
• A good team will increase the chance of success
• Why the CEO should not lead
• The Role of the M&A Advisor
• Great M&A Advisors

• Why your M&A advisor should be local
• M&A Advisors in Vancouver
• A new professional: The Exit Coach
• Lawyers - you need a specialist
• Accountants, Tax Advisors, Auditors

• Inefficient markets
• Strategic Value

• Multiple bidders
• Great M&A Advisors

• Local case studies of recent exits
• Confidential Early Exits

• Parasun Case Study
• Other local exits

• Anxiety before closing and what will you do after?
• Congratulations - You're Rich
• What's next?
• What will you do with all that time?

• What to do with all that money?
• The challenges that wealth creates
• Professional financial advisors
• Generational wealth transfer
• Opportunities to 'put something back'

Every attendee will receive a complimentary copy
of Basil Peters' book:
Early Exits: Exit Strategies for Entrepreneurs and Angel Investors
(But Maybe Not Venture Capitalists)