Even Batman Needs Validation Every Now And Then

 

In this episode of "Batman The Animated Series," Batman is a little weary of crime fighting cycle that is notorious in Gotham - he catches them, the "system" sets them free.  He goes out to fight-the-fight again, steers someone to get help, then off again into the night.  The storyline includes Batman's friend, Commissioner Gordon, getting shot and Batman struggles with not getting there in time to stop it.  However, by the end of the episode, Batman saves Gordon from a second attempt at his life by a split second.  Cut to the final scene, a follow-up that gives the Dark Knight more validation that all his efforts do make a difference.

We all need that same kind of validation sometimes.  It's not being "high maintenance" or egotistical to want some validation.  Receiving validation is that sign that we're on the right path to our dreams, we've made the best decisions, or simply that all is well.  Validation is not flattering someone, it's acknowledging in a genuine manner one's contribution to your life or others - that their words, actions, beliefs, have worth.  How have you validated someone in your life lately?  

Batman Always Has An Exit Strategy

If you talk to Fire Fighters, they say having an exit strategy will keep you alive.  When you take your seat on a plane, part of that droning on and on that you have to listen to before take-off is about an exit strategy. Batman always has an exit strategy before confronting any crazy criminal. We also need to have exit strategies for our business. The most successful exits require considerable planning. The sooner you start, the more rewarding your eventual exit is likely to be.

"Most entrepreneurs over time should start to think about a future exit strategy because preparing for an exit takes some time," says C.J. Fitzgerald, managing director of Summit Partners, a growth equity firm with offices in Boston, Palo Alto, and London. The range of exit strategies includes taking the company public through an initial public offering (IPO), selling the company to a strategic acquirer, or recapitalizing and selling the firm to the management team, also known as a management buyout. "Most of those options take some forethought and preparation," Fitzgerald says. "Management should be thinking about what their end goal is and what is the best way to get there for the company, its shareholders, and its employees."  This goes for small business as well as large business.  You might get out alive, but at what cost?

Different people start companies for different reasons, and that can influence their exit strategy. "Some people want to change the world when they start a company," says Eric Young, general partner with Canaan Partners, a global venture capital firm that has invested in more than 250 companies over the past two decades. "Some people don't want to work for anyone else. They want to stay small for perpetuity."

The right exit strategy depends a lot on the objectives of the people who own the business. Initially, the founder(s) own 100 percent of the business. If they take on investment over time from venture capitalists, angel investors, equity investors, or individuals, they usually give up a portion of the company, or shares and those shareholders will have a say in any potential exit strategy.

There is no “one and true way” and you might want to set your plan up to have multiple exit strategies.  Batman goes into each fight with his utility belt holding several different options available to him at any time.  You can’t predict the future, we can forecast, but we never know what will happen in the next minute.  Prior planning will give you and your business chance at the more lucrative options. Consider the steps involved, as well as the all-mighty dollar, and then consult with investors and those close to you that know your goals so you can make the right decision for everyone involved: you, your company, your employees, and your customers.