Many founders wait for the “perfect moment” to sell or fixate on hitting a specific valuation target, but both can lead to missed opportunities. In this episode, Sarah Letourneau from Goldman Sachs joins Mike Lyon to discuss the most common mistakes they see founders make on the path to an exit; from waiting too long to run a process, to anchoring on a headline number, to assembling the wrong deal team. They share how to plan ahead, build the right advisors around you, and make informed decisions that support both your transaction and your life after the deal.

Securities offered through Vista Point Advisors, member FINRA/SIPC. This has been provided for informational purposes only and should not be considered as investment advice or a recommendation. It is not intended to address all circumstances that might arise. The views expressed herein may change at any time subsequent to the date of issue. Opinions contained herein should not be interpreted as a guarantee of future results. Outcomes will vary depending on individual circumstances. Any examples used in this material are generic, hypothetical and for illustration purposes only. Testimonials from past clients may not be representative of the experience of other clients and there is no guarantee of future performance or success. Clients are not compensated for their comments.

Software founders often underestimate who needs to be involved to successfully sell their business or raise capital, and how much value the right team can add. In this episode, Managing Directors Mike Lyon and Mike Greco walk through the key people founders should have on their side, and how assembling the right team early can make the entire transaction smoother and more successful.

Securities offered through Vista Point Advisors, member FINRA/SIPC. This has been provided for informational purposes only and should not be considered as investment advice or a recommendation. It is not intended to address all circumstances that might arise. The views expressed herein may change at any time subsequent to the date of issue. Opinions contained herein should not be interpreted as a guarantee of future results. Outcomes will vary depending on individual circumstances. Any examples used in this material are generic, hypothetical and for illustration purposes only. Testimonials from past clients may not be representative of the experience of other clients and there is no guarantee of future performance or success. Clients are not compensated for their comments.

When founders set out to sell their business, many underestimate how important it is to choose the right investment bank, and how costly it can be to get it wrong. In this episode, managing directors Mike Lyon and Miles Lacey break down what founders should and shouldn’t do when evaluating banks, negotiating fees, and determining the best time to hire, so you can run a competitive process and achieve a better outcome.

Securities offered through Vista Point Advisors, member FINRA/SIPC. This has been provided for informational purposes only and should not be considered as investment advice or a recommendation. It is not intended to address all circumstances that might arise. The views expressed herein may change at any time subsequent to the date of issue. Opinions contained herein should not be interpreted as a guarantee of future results. Outcomes will vary depending on individual circumstances. Any examples used in this material are generic, hypothetical and for illustration purposes only. Testimonials from past clients may not be representative of the experience of other clients and there is no guarantee of future performance or success. Clients are not compensated for their comments.

When founders lack experience in selling a business, they’ll often accept what buyers lead with, especially the demand for an exclusivity period. In this episode, managing directors Mike Lyon and Jeff Bean break down why buyers push for exclusivity, the real motivations behind their request, and how to navigate the conversation in a way that preserves your leverage throughout the negotiation.

Securities offered through Vista Point Advisors, member FINRA/SIPC. This has been provided for informational purposes only and should not be considered as investment advice or a recommendation. It is not intended to address all circumstances that might arise. The views expressed herein may change at any time subsequent to the date of issue. Opinions contained herein should not be interpreted as a guarantee of future results. Outcomes will vary depending on individual circumstances. Any examples used in this material are generic, hypothetical and for illustration purposes only. Testimonials from past clients may not be representative of the experience of other clients and there is no guarantee of future performance or success. Clients are not compensated for their comments.

SaaS founders often lean toward pursuing a minority deal when looking to raise capital because they believe it means they can maintain control of the business and take advantage of current growth and future upside in their equity ownership, but it’s not that simple. In this episode, managing directors Mike Lyon and Scott Austin unpack the common misconceptions founders have about minority deals, why they often come with more strings attached than expected, and how founders can help set themselves up for a better eventual exit.

Securities offered through Vista Point Advisors, member FINRA/SIPC. This has been provided for informational purposes only and should not be considered as investment advice or a recommendation. It is not intended to address all circumstances that might arise. The views expressed herein may change at any time subsequent to the date of issue. Opinions contained herein should not be interpreted as a guarantee of future results. Outcomes will vary depending on individual circumstances. Any examples used in this material are generic, hypothetical and for illustration purposes only. Testimonials from past clients may not be representative of the experience of other clients and there is no guarantee of future performance or success. Clients are not compensated for their comments.

Retrades are when a buyer or investor tries to renegotiate the valuation price or key terms after a deal is agreed—and it’s always to the founder’s disadvantage. It’s one of the most frustrating risks in M&A, often surfacing late in the process, when founders have already invested significant time, energy, and focus into a buyer. In this episode, Managing Directors Mike Lyon and Jeff Koons break down why retrades happen, what they look like in practice, and most importantly, how founders can help guard against them.

Securities offered through Vista Point Advisors, member FINRA/SIPC. This has been provided for informational purposes only and should not be considered as investment advice or a recommendation. It is not intended to address all circumstances that might arise. The views expressed herein may change at any time subsequent to the date of issue. Opinions contained herein should not be interpreted as a guarantee of future results. Outcomes will vary depending on individual circumstances. Any examples used in this material are generic, hypothetical and for illustration purposes only. Testimonials from past clients may not be representative of the experience of other clients and there is no guarantee of future performance or success. Clients are not compensated for their comments.

Understanding the internal dynamics of a PE fund—such as where it is in its lifecycle, who is championing the deal, and how decisions are made—is critical for evaluating the strength and seriousness of their bid for your business. The most attractive buyer on paper may be structurally incapable of closing a deal due to internal constraints. In this episode, Managing Directors Mike Lyon and Mike Greco discuss how private equity fund dynamics can impact the quality of their bid—from how serious it is, to its structure, to the risk of closing.

Securities offered through Vista Point Advisors, member FINRA/SIPC. This has been provided for informational purposes only and should not be considered as investment advice or a recommendation. It is not intended to address all circumstances that might arise. The views expressed herein may change at any time subsequent to the date of issue. Opinions contained herein should not be interpreted as a guarantee of future results. Outcomes will vary depending on individual circumstances. Any examples used in this material are generic, hypothetical and for illustration purposes only. Testimonials from past clients may not be representative of the experience of other clients and there is no guarantee of future performance or success. Clients are not compensated for their comments.

Why would a founder sell their business while it’s thriving? It’s a question we hear often—and what we call the “entrepreneur’s dilemma.” In this episode, Managing Directors Mike Lyon and Jeff Bean unpack why selling during a growth phase, though counterintuitive, can lead to better outcomes. They discuss how buyers value momentum, the risks of holding on too long, and how founders can maximize value by leaning into growth.

Securities offered through Vista Point Advisors, member FINRA/SIPC. This has been provided for informational purposes only and should not be considered as investment advice or a recommendation. It is not intended to address all circumstances that might arise. The views expressed herein may change at any time subsequent to the date of issue. Opinions contained herein should not be interpreted as a guarantee of future results. Outcomes will vary depending on individual circumstances. Any examples used in this material are generic, hypothetical and for illustration purposes only. Testimonials from past clients may not be representative of the experience of other clients and there is no guarantee of future performance or success. Clients are not compensated for their comments.