Is an acquisition an option in your exit-strategy? Are you truly prepared for the process if it comes? Our co-founder recently sat down with Peta Ellis, General Manager at Beaten Zone Ventures and founder of HypeMogul PR who shared her invaluable insights into how startups can prepare from day 1 for an acquisition.
Key takeaways:
- Systems and Data Matter More Than You Think: Peta emphasizes the critical role that data and systems play in running a successful business. From tracking customer engagement to managing financials, having the right systems in place is vital when preparing for an acquisition or investment.
- The Importance of Storytelling - But with Data to Back It Up: While reputation and brand are essential, Peta highlights how difficult it can be to quantify them during an acquisition. Startups need to ensure that their impact and success are supported by solid metrics and data that external analysts can evaluate.
- Start Early to Avoid Future Headaches: Peta recommends putting in place good systems, data tracking, and processes from day 1 and that these can make or break your business when it's time to scale or be acquired. Starting early with organized systems saves time, avoids confusion, and sets you up for smoother growth down the line.
- Mentorship is Key: One of the key pieces of advice that Peta gave was the value of having mentors who can guide you through the ups and downs of startup life and help you spot issues you may have overlooked. In fact, she believes having mentors should be a mandatory requirement for anyone starting a business!
Watch the full interview now!
If you're a startup founder or part of a growing company, this interview is a must-watch. Peta’s candid advice will help you understand how to set up your business for growth, prepare for acquisitions, and avoid common pitfalls along the way.
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