Touraj Parang

A veteran Silicon Valley insider provides the first comprehensive guide to developing and executing a startup exit strategy--the secret to ultimate entrepreneurial success You're facing tough odds as an entrepreneur today. Up to 65 percent of small businesses in the U.S. don't survive more than five years, and the majority of venture-backed startups fail to fully return the money invested in them. The time is now for a new approach to startups, and this first-of-its-kind guide provides it. If you're ready to embrace the reality that acquisition is the end goal for startups, Exit Path is for you. In these pages, Silicon Valley entrepreneur, investor, advisor, and M&A expert Touraj Parang argues that starting at the end--i.e., creating and executing an exit strategy as you launch and build your business--is the surest path to ultimate success. You'll learn everything you need to know about the process, including: Making a strategic plan Developing relationships Cultivating champions Building capabilities Creating leverage Negotiating term sheets Closing the deal The methods in Exit Path are based on Parang's real-life experience of having no exit plan when he sold his first startup for pennies on the dollar--then embracing exit planning as soon as he joined his next startup, which was acquired for more than $100 million dollars. Exit Path answers the most important questions you'll face in the life of your startup: How do you maximize your chance of survival in the startup world? When is the right time to start planning for an exit? How do you make that exit successful? And whose advice should you seek in such matters? Parang both demystifies and de-stigmatizes the exit process, while providing invaluable lessons on making sure you do it right.

Exit Path: How to Win the Startup End Game

An exit strategy, if implemented early, is the surprising secret to ultimate startup success. Find out why—and how to develop one—in this comprehensive, practical guide from veteran Silicon Valley dealmaker Touraj Parang. In 2008, Touraj Parang's award-winning startup, Jaxtr, had 10 million users, raised nearly $20 million from top-tier Silicon Valley investors, and seemed poised to sail straight through the Great Recession. But, by January of 2009, Jaxtr’s only hope for survival was to find a buyer—sadly, it was too late for that. In Exit Path, Touraj draws on the lessons learned from that chaotic experience and the extraordinary successes that followed once he (and the entrepreneurs he advises) made creating and executing an exit strategy a top priority. For too long entrepreneurs have been failing to establish the requisite relationships and properly prepare for the most important milestone in their life cycle: a sale to an acquirer. But in today’s hyper competitive and interconnected business world, that is no longer an option. In this first-of-its-kind, comprehensive guide, you'll discover the surprising reasons few startups succeed while many fail—and you’ll learn that implementing an exit strategy early will empower you to take charge of your startup’s ultimate fate, maximizing its potential for success while mitigating the risks of failure. Arranged in four sequential parts, Exit Path walks you through actionable steps to devise and execute an effective exit strategy, starting with a fresh new perspective on the critical importance of creating a viable sale option for your startup. You'll learn why creating your exit strategy is necessary well before you're contemplating an exit, regardless of the stage of your startup. You’ll also discover how to create your own exit plan, how to make your plan a reality through personal and business relationships, and how to approach and negotiate with acquirers for an outcome best aligned with your values and ambitions should the need arise. Whether you are an entrepreneur, investor, or advisor, the expert advice and insights in Exit Path will inspire you to take charge of your startup’s destiny and unlock its strategic potential and options over time.

Touraj Parang

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