How to Sell a Company for $16.5 Million at 25

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Remember that you will have to deal with a huge amount of bureaucratic issues. I made a deal at the end of 2021, and the money allocated for highly qualified specialists helped me feel protected in terms of risks and not go crazy from studying the documents on my own.

One of the last steps, while you are still in your startup space, will be to appoint a new CEO who will lead the team forward. When choosing, review the talent, talk to the top management, assess their strengths and weaknesses, determine each person’s inclination to leadership. Find out how they see their professional development in the company, what ideas they want to implement and how significant a contribution to the team they want to make.

In the case of my startup, the new leader was the CPO. He had a good belgium whatsapp phone number understanding of how the service could grow further. And the same questions from Y Combinator that you can ask yourself at the stage of deciding to leave will help you see this.

Finally, before the exit, prepare a risk playbook for the new CEO and owner. Conduct an assessment and share the results with them. Run through several scenarios of what could go wrong in the immediate aftermath of your departure and how you would address these issues.

You can stay as a consultant or simply organize regular meetings with the team after the exit: tell them that you will be in touch. For example, in the first period after the exit, I regularly met with the CEO: I found out what the project was breathing, what further risks were seen for it.



Life after
I was lucky - already at the exit stage I knew what I would do next and was burning with the idea of ​​a new project. I started creating a service aimed at improving users' sleep.

The most important thing for me is the huge charge of energy that I managed not to lose during the laborious process of exit. In order for you to be able to keep the fire in your eyes for new business achievements, do not forget to think through each stage of the company's exit, prepare your team and hand over your employees to reliable hands.