We know a 54-year old entrepreneur whose initial business idea was two rounds of raising money, followed in short order by an IPO. Twenty-six years later, he is a profitable solopreneur, but with no IPO insight, all savings poured back into the business and a need to monetize his equity to exit. When we first talked, he’d been overtaken by events:
- He was midway through updating his CRM, inventory and accounting systems, navigating the IT and data chaos
- He’d just learned that his wife had been diagnosed with early onset Alzheimer’s
- A potential buyer had raised interest in a letter of intent and hada due diligence list a mile long
Unable to respond, and without an exit plan in place, he lost a timely and urgent opportunity to sell his business. Nobody ever thinks it will happen to them.