Effective positioning begins with identifying the most realistic exit paths. Rather than assuming that ‘someone will want to buy us’, founders should ask more precise questions: who might acquire this company, under which circumstances, and for what strategic reasons? Different buyers look for different attributes, and a lack of clarity can result in diffuse messaging that fails to strongly appeal to any one group.

A company may be attractive as a strategic asset, offering unique technology, intellectual property or market access that complements an acquirer’s existing capabilities. Alternatively it may function as a growth platform, providing a base from which a buyer can expand into new markets or customer segments.

Some businesses are primarily defensive acquisitions, purchased to neutralise competitive threats or consolidate fragmented markets. Others are valued for operational efficiency, predictable cash flows or cost optimisation opportunities, making them appealing to financial buyers such as private equity firms.

Each of these exit paths implies a different positioning emphasis. A technology-driven strategic asset may highlight innovation and differentiation, while a growth platform may focus on scalability and market momentum. Understanding which narrative best fits the company’s reality is essential.