Exit Strategy
Example · Board of 3Should we hold for IPO or sell to a strategic at current valuation?
Chief of staff
This one needs a board: The CEO, The Investor and The Strategist. The CEO holds the through-line on company strategy and stakeholder trade-offs. Each researches alone first, then they react to one another — and on a decision, two of them take opposed sides.
The CEOChief Executive Officer
The InvestorVC Partner
The StrategistCompetitive Expert

Asked first
If you could do only one thing this quarter, is this it?
YesOne of twoProbably not
The board’s call
Decline the $20M cash + earnout.
Earnouts that depend on post-close metrics usually pay 60-70% of headline. Parallel processes systematically beat single-buyer negotiations.

The Strategist disagreed
“Decline gracefully — acquirers remember who handled rejection well”
Board of 3 · up to 135 credits on the card · an example, not a recorded run









