Business Week has a story by Rosalid Resnick of NetCreations on how she sold her company for USD 111 million. She writes:
The business itself must be scaleable with a great product, a solid management team, and long-term contracts that ensure a recurring revenue stream. Its finances must be in order. You, as owner, must network with competitors, who are your most likely buyers. You must also, as the old saying goes, “Know when to hold ’em and know when to fold ’em.” Finally, you must get liquid fast.
Great deals, in other words, don’t happen in a day. They take time, patience, preparation, guts, and many years of building relationships with potential buyers. Only then can skillful negotiating kick in and produce the desired results.
Reading the story reminded me a little of my own experience selling IndiaWorld for USD 115 million. Maybe some day I too should write about that. It ism just that I don’t like to look back much – prefer to look ahead.