Exits rarely involve a single decision-maker. Unlike the early days of a start-up where founders often drive nearly all strategic decisions, exit processes engage a wide spectrum of stakeholders.

Co-founders, employees, investors, boards and advisors all have a vested interest in the outcome, and each group may hold different priorities, timelines and risk appetites.

This diversity of perspectives can be a source of strength, providing wisdom, scrutiny and support. But it also introduces complexity which must be actively managed. Achieving alignment among these stakeholders is one of the most important, yet often overlooked, determinants of a successful exit.