Companies that go out looking for a buyer almost always never find one. Even those with term sheets rarely close. We had everything going for us, strong inbound interest, enterprise contracts, products used by tens of millions, a technical team... And it still took four years, over a hundred conversations, and a couple of near-death experiences.
I wrote a book on this whole bloody experience, hopefully to help founders think clearly and not make the same mistakes I did. The stakes are way too high for the slightest errors.
Resources
M&A Readiness Checklist
12 items to check off before engaging with potential buyers. Don't start conversations until you're ready.
The Toughest Sell: A Founder's Guide to Startup Exits
A culmination of all the mistakes and learnings from my four-year journey to sell my company. 53 chapters of hard lessons, what worked, what didn't, and how perseverance paid off in the end. Free to read online.
10 questions to understand where you stand and what your realistic path might be.
Question 1 of 10
A note of caution: Selling because you're exhausted rarely ends well. M&A is one of the most stressful things you'll ever do—it won't give you the relief you're looking for. Consider whether you can take a break, hire help, or reduce your role instead.
Read: Chapter 2 - "An Exit is Not the Silver Bullet You've Been Looking for"