The startup ecosystem is a wonderful place. It’s where entrepreneurs can share their ideas for the next game changing product and work alongside some of the brightest minds in the country. Normally, when we hear ‘start-up’ and ‘entrepreneur’ we think of fund raising and chasing financial backing. Unfortunately there is very little focus on how to successfully exit a business once you have created your empire.
So this week Maestrano, and their partners Co-Equity, held an event to educate business owners on how to exit a company successfully and intact. And who better to show the way than Creel Price. Creel’s story is an amazing adventure that started with $10,000 and ending in a successful exit at $109Million. If you missed the event you can read the full story in his book ‘The one thing to win at the game of business’.
I was recently shown a statistic that said less than 1% of businesses will make a successful exit through an IPO or trade sale. I was shocked at this figure as I know plenty of people with fruitful businesses that could easily sell off their pride and joy and walk away with a hefty chunk of change. So when I asked them about exiting their company, they all had the same response “I wouldn’t even know where to start”.
It would seem that not having the tools and knowhow is the main issue a successful business owner will face when trying to sell their company. Luckily for you, Maestrano and Co-equity have teamed up to provide the knowhow and the tools you will need to grow your business to its peak and successfully exit. So keep an eye on the ‘This week in exits’ meetup page for the next event and more info on how to build your business.
Speaking of successful exits, Maestrano is about to leave its Surry Hills office (I’m literally packing my things as I type) and move into the CBD. It’s an exciting milestone in the Maestrano story, so stay posted to see the new digs in the coming weeks!