In 2002 I wrote a detailed business plan and created the investor presentation deck for MessageRite, my first startup. One of the key slides, or so I thought, was the gratuitous “Exit Strategy” slide. In my slide I described how MessageRite would one day be acquired by one of precisely four companies I cited by name. Investors would enjoy a handsome return at such time as we were snatched up by one of these four companies. While I was incredibly luckly to have accurately named the ultimate acquirer, I now realize how wrong was the advice I heeded to include that slide in the first place.

This time around with blist, I had no such exit strategy slide in the investor presentation deck I created to help tell potential investors learn about our business.

Certainly it can’t be solely attributed to the presence or absence of that exit strategy slide, but the fundraising outcomes were vastly different for my two companies. At MessageRite we effectively struck out raising venture capital. At blist, we were fortunate to have piqued the interest of a handful of quality firms and are now backed by two of the best in Frazier Technology Ventures and Morgenthaler Ventures.

But raising capital in and of itself wasn’t a milestone and it’s dangerous for entrepreneurs to think of it that way. Raising venture capital was a step we elected to take in our plans to grow a viable, enduring company with a great product and happy customers.

And that’s the point of this post and my advice to fellow entrepreneurs. Forget the exit strategy. A great exit will solve itself by building a viable, enduring business with great products and happy customers. Have the courage to omit the slide and also the courage to tell VCs just that. You are building a strong, enduring business which is the best way to ensure that the investors see a healthy return on their investment.

Are you building an enduring company? I’d love to hear about it.

photo credit A-Wix