At TechZulu fireside chat yesterday, Krishna Gupta shared his advice on how to prepare your business for acquisition. Having acquired his most recent company, Sortfolio, rather than starting it himself, he had lessons to share.
A retired rocker, Mr. Gupta is now a fashionable entrepreneur. That was a pun. As web design has become increasingly important in the business world, his site has become increasingly fashionable too. And with a 3-piece suit and hoop earrings, this guy does business in style.
But this is a business blog, not a fashion blog, so without further ado:
Top Ten Take-Aways: Krishna Gupta
“Design is a great way to differentiate yourself. It’s about understanding what your consumer wants and providing that through an interface”
“Do social. Social is like low-hanging fruit.”
On the benefits of acquiring a company vs starting one: “You inherit history; lessons have already been learned”
“If you want an exit, you have to know where the door is. Work backwards.” – on how to get acquired.
“People, people, people. It’s a broken record but a good one.” – on the importance of company culture.
“I’m the eternal optimist. You can do anything.”
Top 3 characteristics in a business partnership: “Trust. Talent. Shared vision. Ethics.” …wait that’s four.
“Make your company’s message so clear you could explain it to a 5-year old, and that 5-year old could explain it back.”
“Get your agreements on paper early. EVERYTHING has a honeymoon phase, so get something down.”
“Deals just happen at cocktail parties.” – on the value of networking