“From the time that all of the sales collateral is complete until the cash is in the bank, the exit process can take as little as 4 to 5 months and as long as 18 to 24 months.”

“In the most successful exits, the company should be delivering its peak performance for the months leading up to the final price negotiations and closing.”

“Every company needs an exit strategy and an exit plan. Ideally, the exit strategy should be agreed upon by the founders before the first dollar of investment goes into the company.”

“As VCs invest more and more money in each company, they have to wait longer and longer before they can exit.”

“It's much easier to understand the pricing mechanisms for exit transactions if you look at it from the perspective of the professionals doing the business.”

“Exits are the least understood part of investing—as often by the investors themselves as by the entrepreneurs. This book is about the large number of other exits—the ones that are not driven by the VCs.”

“Today, the optimum financial strategy for most technology entrepreneurs is to raise money from angels and plan an early exit to a large company in just a few years for under $30 million.”