Work as a Team to Execute the Exit Plan.
This article is written by Nardine B. M’barek, a Contributor Author at Startup Turkey.
Kaushal Chokshi is a global named investor, entrepreneur, and the founder of Scaale Group. Scaale as Growth Consultants for smart capital, international sales, and global M & A services to growth companies and large corporates. They believe that they can leverage their capability for developing new business models for growth and build value for exit or shareholder’s value or stakeholder’s value. Mr. Chokshi was present with us during Startup Turkey 2016 and gave a speech about how to build value to exit.
As an entrepreneur, exiting to a global market could be a difficult task. When you start preparing for your startup, receiving funds, and actually moving to the stage where you establish your company; a crucial part of getting into business is not only building strong basis and fundamentals for your company, but also preparing a plan that will help you exit later on. Your exit is something that you need to think of right from the start, it is a matter that deserves as much attention as that you give to selecting first stage investors and finding efficient team members that will help you get your company to the top.
An exit plan needs some work. Indeed, you are going to need a huge amount of research and time in order to prepare one that will later benefit you and your company. One of the biggest issues when it comes to the exit plan, is the investors that you chose. Your investors need to be helpful and understanding. With global investors, you can have a huge amount of benefits, starting with getting to know their global network that could probably represent future acquirers or even other investors as well.
It is important to choose your investors very carefully, since you do not want yourself doubting your choice when you get to the stage of exiting. Investors need to fit with the exit plan that you already built in your mind, that is why you need to take your time and consider every choice you make, as well as its impacts in the future.
If you are not the only founder of the company, then things need to be taken seriously as well. If your co-founder(s) do not agree with the exit plan that you propose, or if it is the other way around, and you are actually the one who does not agree with their exit plan, then it will cause serious damage and disconnection between all of you. It could also happen with your team, when they also do not agree on your exit plan.
In this case, if you have studied and prepared very well for the plan that you have proposed, then it will be easy and feasible to bring all the team together under the umbrella of that specific exit plan. If you think that it is the right thing to do, then you are going to need to convince your team through bringing efficient arguments, and prove to them that this is actually going to work, and that it is the best for the company.
The important thing is that you make the entire procedure and path clear enough to them, so that they will know that what they are going to get out to is something better, and that they will go really far executing this plan; that way, they will be able to work in a very coherent way to help you execute the plan since it does not only depend on you.