Startups often adopt a sprinter’s mentality. They want to get as far ahead as possible in as little time as necessary. Progress is measured in terms of growth, profitability, and revenue, but there’s a big difference between generating revenue and driving actual value. Just because a company is growing doesn’t mean it’s actually becoming a greater asset. It’s just a larger version of its previous self.
To boost your company’s value, I recommend creating a startup exit strategy as part of your startup’s overall business plan. You may be thinking, “I’m not ready to sell!” But hear me out.
All business owners should be taking steps from day one that will determine how profitable their creation will be on the day of the sale. And the exit stra...