Exit
Having created a successful business, exiting through its sale is often considered the final goal of an entrepreneur. But what are the financial gains for the entrepreneur; and do they represent sufficient reason to sell their business? Are there other reasons to sell beyond financial? Are there reasons not to sell? What principles apply in negotiating an exit? These are the questions these essays will address for the Objectivist Entrepreneur.
“Productive work is the central purpose of a rational man’s life, the central value that integrates and determines the hierarchy of all his other values.”?
Ayn Rand
Why Exit?
Many entrepreneurs and their investors start developing an exit strategy almost from the beginning, perhaps through an acquisition, a merger, a public offering, or by some other exit vehicle. Most investors won’t even consider investing in a company before they have a plan to exit at some point in time. And for the entrepreneur “FIRE”, Financial Independence, Retire Early, is an acronym for what sounds like an appealing and widely held goal. However, as discussed in another essay (Why Become an Entrepreneur), money is only an incentive, not the entrepreneur’s primary source of motivation. What motivates an entrepreneur is the pursuit of…
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