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Early Exits: Exit Strategies for Entrepreneurs and Angel Investors (But Maybe Not Venture Capitalists) Paperback


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Product Details

  • Paperback: 195 pages
  • Publisher: MeteorBytes Data Management Corp.; 1 edition (March 2009)
  • Language: English
  • ISBN-10: 0981185517
  • ISBN-13: 978-0981185514
  • Product Dimensions: 8.9 x 5.9 x 0.6 inches
  • Shipping Weight: 12.8 ounces (View shipping rates and policies)
  • Average Customer Review: 3.3 out of 5 stars  See all reviews (6 customer reviews)
  • Amazon Best Sellers Rank: #182,355 in Books (See Top 100 in Books)

Editorial Reviews

Review

Times have changed. VCs now invest $10s of millions in each new venture looking for home runs over a long investment cycle. Unfortunately, singles and doubles provide inadequate returns for huge VC firms, so VCs press for big winners at the risk of losing everything. Dr. Peters has a compelling new strategy for entrepreneurs and angels: Improve your odds of lucrative returns using only angel money and focusing intensely from the outset on seeking Early Exits. --Bill Payne, Angel Investor and Winner of the 2009 Hans Severiens Award

Early Exits is a 'must-read' book for serious entrepreneurs and individual investors. It is the only book that I have seen in 12 years that focuses exclusively on Exit Strategies. An invaluable resource with a detailed contents section, it is easy to read with plain language, not too much jargon and good case study examples. READ IT. --Bob Chaworth-Musters, founder of the Angel Forum - Vancouver

Basil has provided a wonderful service to the angel community by writing the best book on exits. All will benefit from his wisdom and the experiences he shares. --John O. Huston, Founder, The Ohio TechAngels - Columbus

About the Author

Dr. Basil Peters is the Fund Manager for Fundamental Technologies II - an angel investment fund (seed stage venture fund). He also founded a venture capital firm and a hedge fund and has been a CEO in Vancouver and Silicon Valley. Basil is an active, early-stage, technology investor and writes a blog on best practices for entrepreneurs and angel investors at AngelBlog.net. He has a Ph.D. from the University of British Columbia in Electrical and Computer Engineering and has received the Entrepreneur of the Year Award; the Entrepreneurship Silver Award; the BC Science and Engineering Gold Medal; and the Business Leader of the Year Award. More on Basil at BasilPeters.com.

More About the Author

Basil Peters is an angel investor with a passion for exit transactions. After being an investor for a couple of decades he finally realized that successful investing requires two things: making the right investment decisions and getting your money back. The most fun Basil's had as an entrepreneur, and an investor, are when companies are successfully sold.

Dr. Peters is the principal of Strategic Exits Corp and fund manager for Fundamental Technologies II - an angel fund (seed stage venture fund). He also founded a venture capital firm and a hedge fund, and has been a CEO in Vancouver and Silicon Valley.

Basil writes a blog on best practices for entrepreneurs and angel investors at http://www.AngelBlog.net

He just published his first book: Early Exits - Exit Strategies for Entrepreneurs and Angel Investors (But Maybe Not Venture Capitalists).

Basil is an Entrepreneur in Residence at Simon Fraser University where he helps students and faculty spin-off research into promising technology companies.

He has a Ph.D. from the University of British Columbia in Electrical and Computer Engineering and has received the Entrepreneur of the Year Award, Canada Awards Silver Medal in Entrepreneurship, BC Science and Engineering Gold Medal and Business Leader of the Year Award.

For more: http://www.BasilPeters.com

Customer Reviews

3.3 out of 5 stars
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Most Helpful Customer Reviews

12 of 13 people found the following review helpful By Doov on September 6, 2012
Format: Paperback
I don't usually write reviews, but this book deserves a really negative one. As an entrepreneur targeting an early exit I thought this book would be highly relevant. It's not. This book is really an homage to the great Basil Peters written by none other than Basil Peters. For the first 80 or so pages he repeats the same three points over and over. First is that companies should target early exits (he defines as exits less than $30MM). Second is that there's a big difference between VCs and Angels. Third is that web 2.0 and the internet have really changed things for startups. Wow. How insightful! The first "insight" is a decision a company has to make, not a doctrine. Why he defines early exits as companies that exit for $30MM or less is beyond me. There are tons of early exits that go for way more than $30MM. The second point is true. But his explanation and writing is pathetic on the matter. There are plenty of other books/sources that describe these differences in a much much more meaningful way. The third point is just ridiculous. You don't need a book to tell you that. Let alone a $24 book.

I was hoping for a book that would give solid advice on how to best achieve an early exit. When to start talking to BD guys at big firms, what to show them versus what not to show them, negotiation tactics for exits, the terms of an exit (eg a detailed LOI), etc etc. Instead this book just repeats the same anecdotes - incidentally the authors own stories - without any details whatsoever. The author has no data to back up half of what he claims or says and provides zero insight.

Here's a great example of what you'll get if you buy this book (from page 89 in the paper back version).

"7.5 Corporate DNA

Companies certainly have cultures.
Read more ›
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10 of 11 people found the following review helpful By Lawrence Johnson on March 1, 2012
Format: Paperback
Early Exits was disappointing. While the author makes the case for shameless early exits plays, and reminds the reader of the woes of extending the start-up experience to the point where VC funding - with its own "volturous" values, practices and economics - may be a necessary evil.

If early exits are to succeed they need special strategies (lean development and marketing, telling your story, distinction between building a product and building a company, making yourself "pretty" for a suitor from day one, and new framework for angels), none of these were explored.

The author is content to refer to his extensive experience and trove of anecdotes and tactics but shares none of them. He prefers to wallow in the trite recitation of the exit process.

It is somewhat ironic that a VC suggested that this book was essential reading - just maybe he was trying to tell the audience that they were not interested in risky start-ups.

This is not a reference book, it is sales collateral.
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7 of 8 people found the following review helpful By Nicholas Spring on April 12, 2012
Format: Paperback Verified Purchase
Early Exits: Exit Strategies for Entrepreneurs and Angel Investors (But Maybe Not Venture Capitalists)

I'm a biotech/pharmaceutical entrepreneur who has done the complete cycle of start up, angel investors, and venture capitalists to a successful (Oct 2011) acquisition and exit. I took my company from a business plan through all of the FDA approval stages too so I'm talking from direct experience. I really wish that I'd read this excellent little book back in 2005 when I was setting the company up - its pages are a gold mine of practical information for any entrepreneur who is thinking of using outside finance to 'jet fuel' their business. The bottom line is exit as early and as profitably as possible as this maximizes the returns for everyone. The expansion step that involves VCs is usually unecessary and actually harmful to the founders (70% fired within a year of VC investment) and early investors - avoid at all costs!! Its no wonder VCs are folding - they are not meeting the needs of their Limited Partners and Entrepreneurs. Basil Peters has a number of good stories with learning points from each (mainly tech, by the way). I certainly will use a number of his pointers in my next venture. Great book.
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