Today, I encountered an article in the Telegraph talking about the importance of the exit strategy. The article is written by Alex van Someren who is a partner in a UK-based investment fund.
For most of the article, Alex explains the importance of the exit from the viewpoit of an investor, but the most important piece of information Alex provides in the article is quoted below...
"Having said all that, delivering a great exit is a bit like a Zen mediation exercise: you are most likely to achieve the outcome you are looking for precisely by not thinking about it. Managing your business so that it delivers a great solution to a real problem, acquires lots of happy customers and makes a lot of profitable sales is the right thing to do anyway, but it's usually also the best way to get to a great (that is, a high value) exit in the longer term."
This is great advice! "You are most likely to achieve the outcome you are looking for precisely by not thinking about it." That means forget about the exit strategy. Focus on building a great company. People always want to buy great companies even if those companies have never thought about an exit strategy. Build a great company and the exit will come. Build a great exit strategy without a great company and there won't be any way to exit. Your choice.