The 6 Stages — Deep Dive

Select a stage below to explore methodology, MENA context, and case studies.

Strategic Positioning

"Who would buy us — and why would they pay a premium?"

Definition

Strategic Positioning is about understanding your company through the eyes of potential acquirers. Most founders build for customers. Exit-ready founders also build for buyers.

This stage answers three critical questions:

Who would actually acquire us?
What are they really buying?
Is our entity structure deal-ready?

Key Questions to Ask Yourself

Can you name 5 specific companies that would acquire you?
Acquirer Clarity
Do you know what multiple they've paid in past deals?
Valuation Realism
Is your company incorporated in a buyer-friendly jurisdiction?
Structural Readiness
Could a buyer's 'build vs. buy' analysis justify your price?
Strategic Value
Do your co-founders agree on exit timing and terms?
Alignment

MENA Reality Check

In MENA, strategic buyers pay 30-50% more than financial buyers (PE firms). But most founders can't name a single strategic acquirer. They wait to be found instead of positioning to be acquired.

The gap: Founders wait to be found instead of positioning to be acquired.

Learn This Stage

Program

What You'll Build

Sprint

Acquirer Target List (10+ buyers)

Accelerator

Full acquirer thesis + outreach strategy

Case Study

Careem

Before Uber acquired Careem for $3.1 billion, the founders had already mapped the acquirer landscape. They knew who would want them, why, and what they'd pay.

When Uber came calling, Careem wasn't desperate — they were prepared.

WATCH: How Careem Positioned for Exit

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Checklist Preview

We can name 5+ potential acquirers
We understand what buyers would value most
Our entity structure is deal-ready
Our cap table is clean
Co-founders are aligned on exit goals
... 5 more in full checklist

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Scalable & Sustainable

"Can this business run — and grow — without me?"

Definition

Scalable & Sustainable means building a business that doesn't depend on you. Buyers don't want to acquire a job. They want to acquire a machine. If revenue drops when you go on vacation, you're not exit-ready.

This stage covers:

Financial readiness (clean books, audits, metrics)
Operational maturity (documented processes, trained team)
Founder independence (business runs without you)

Key Questions to Ask Yourself

Could your business run for 3 months without you?
Founder Dependency
Are your financials audit-ready today?
Financial Maturity
Can you explain your unit economics clearly?
Investor Readiness
Are critical processes documented?
Operational Maturity
Is your IP properly assigned to the company?
Legal readiness

MENA Reality Check

In emerging markets, "informal" business practices are common — payments in cash, relationships on handshakes, books that "adjust" for tax purposes.

Buyers see risk, not opportunity. Every informal practice is a discount on your valuation.

Learn This Stage

Program

What You'll Build

Sprint

Gap Analysis + Founder Independence Score

Accelerator

Financial Model + Operational Audit

Case Study

Talabat

Before Delivery Hero acquired Talabat, the company had invested heavily in systems and processes. The founders had stepped back from daily operations.

When due diligence came, there were no surprises — because the house was already in order.

WATCH: Talabat's Path to $170M Exit

Watch Clip

Checklist Preview

Financials are audit-ready or audited
Unit economics are documented
Key processes are documented
Team can operate without founder for 2+ weeks
IP is properly assigned to company
... 9 more in full checklist

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Market the Deal

"Are we ready to engage buyers — professionally?"

Definition

Market the Deal is about presenting your company to buyers in a way that creates competitive tension. This isn't about desperation. It's about preparation. A well-run process can increase your outcome by 20-40% compared to a single-buyer negotiation.

This stage covers:

Data room preparation
Exit narrative and pitch deck
Advisor selection
Valuation modeling
Creating competitive tension

Key Questions to Ask Yourself

Do you have a data room ready to share?
Deal Readiness
Can you tell your exit story in 2 minutes?
Narrative Clarity
Do you know your realistic valuation range?
Expectation Alignment
Have you identified M&A advisors or lawyers?
Professional Support
Could you run a process with 3+ buyers simultaneously?
Leverage capability

MENA Reality Check

Most MENA founders respond to inbound interest rather than running a proactive process. This means:

Single-buyer negotiations (no leverage)
Reactive timelines (buyer controls pace)
Lower valuations (no competitive tension)

The best exits are marketed, not stumbled into.

Learn This Stage

Program

What You'll Build

Sprint

Exit Story Draft + Data Room Skeleton

Accelerator

Complete Data Room + Pitch Deck + Valuation Model

Case Study

Souq

When Amazon acquired Souq, it wasn't a surprise deal. Souq had been positioning for exit for years, with a professional data room and clear narrative.

Multiple buyers were interested. Amazon paid a premium to win.

WATCH: Inside Souq's Acquisition

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Checklist Preview

Data room structure is ready
Core documents are uploaded
Exit story is clear and compelling
Valuation range is researched
Potential advisors are identified
... 7 more in full checklist

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Negotiate & Close

"How do we protect our value through the finish line?"

Definition

Negotiate & Close is where deals are won or lost. The LOI is just the beginning. Due diligence, purchase agreement negotiation, and closing mechanics determine your final outcome.

This stage covers:

LOI negotiation
Due diligence management
Deal structure (cash, stock, earnout)
Purchase agreement terms
Closing conditions

Key Questions to Ask Yourself

Do you understand common deal structures?"
Sophistication
Do you know your walk-away terms?
Negotiation Clarity
Have you engaged M&A legal counsel?
Professional Support
Can you manage due diligence without disruption?
Execution Capability
Do you understand escrow, earnout, and indemnity terms?
Deal literacy

MENA Reality Check

Emerging market deals often have different terms than US/EU deals:

Higher indemnity caps (30-50% vs. 10-20%)
Longer escrow periods (24-36 months vs. 12-18)
Currency and repatriation considerations
More extensive representations and warranties

Knowing EM deal norms prevents getting squeezed.

Learn This Stage

Program

What You'll Build

Sprint

Negotiation Prep + Deal Structure Understanding

Accelerator

Access to M&A lawyers and negotiation experts

Case Study

Careem Negotiation Phase

Careem's negotiation with Uber took months. The founders pushed back on terms, protected key employees, and secured commitments that mattered to them.

They didn't just accept the first offer — they negotiated the deal they wanted

WATCH: Inside the Careem Negotiation

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Checklist Preview

We understand standard deal structures
We have M&A legal counsel engaged
We know our walk-away terms
We can manage DD without disrupting business
We understand EM-specific deal terms
... 3 more in full checklist

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Integration Success

"Will the value we created survive the transition?"

Definition

Integration Success determines whether the deal delivers on its promises — for everyone. 70-90% of M&A deals "fail" to deliver expected value. Most fail in integration, not negotiation.

This stage covers:

Day-One planning
Key person retention
Customer communication
Cultural integration
Earnout management (if applicable)

Key Questions to Ask Yourself

Do you have a Day-One communication plan?
Transition readiness
Are key employees committed to stay post-close?
Retention planning
How will customers learn about the acquisition?
Stakeholder management
What's your role in the first 90 days?
Personal clarity
If there's an earnout, how will you protect it?
Deal protection

MENA Reality Check

In MENA, relationships matter more than in Western markets. Customers and partners may have chosen you specifically because of your relationships.

The acquirer needs a plan to preserve those relationships — or they'll lose them.

Learn This Stage

Program

What You'll Build

Sprint

Integration Considerations Framework

Accelerator

Post-deal support from exited founders

Checklist Preview

Day-One plan is drafted
Key employees have retention agreements
Customer communication plan exists
Cultural integration considered
Earnout terms are clear and protected
90-day founder role is defined

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Transition

"What's my next chapter — and am I ready for it?"

Definition

Transition is the most overlooked stage — and often the most difficult. Founders spend years building a company that becomes their identity. When it's sold, they face an unexpected question: Who am I now?

This stage covers:

Wealth management and tax planning
Personal security considerations
Identity transition
What comes next

Key Questions to Ask Yourself

Do you have a wealth management plan?
Financial readiness
Have you considered tax implications of the exit?
Planning ahead
What will you do on Day 91 after close?
Identity preparation
Who are you outside of your company?
Personal readiness
Have you talked to founders who've exited?
Learning from others

MENA Reality Check

In the Gulf, sudden wealth can create unexpected challenges:

Family and social dynamics shift
Security concerns increase with visibility
Tax residency and wealth jurisdiction matter
Cultural expectations around success

Planning your personal transition is as important as planning the deal.

Learn This Stage

Program

What You'll Build

Sprint

Personal Transition Framework

Accelerator

Connection with exited founders

Case Study

The Other Side

Many exited founders describe the same pattern: Euphoria. Then emptiness. Then searching for the next thing.

The founders who transition well are those who planned for it — not just financially, but personally.

WATCH: Life After Exit

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Checklist Preview

Wealth management plan in place
Tax implications understood
First 90 days post-close planned
Identity beyond company considered
Spoken with exited founders
Personal security assessed

Download Full Checklist

The 6-Stage Exit Framework

The 6 Stages at a Glance

Strategic Positioning

Scalable & Sustainable

Market the Deal

Negotiate & Close

Integration Success

Transition

Why This Framework Works

Research-Based

50+ Exits Analyzed

Practitioner-Tested

The 6 Stages — Deep Dive

Strategic Positioning

Scalable & Sustainable

Market the Deal

Negotiate & Close

Integration Success

Transition

This Is NOT a Where Are You In the Journey?

Adopt the Exit Builder Mindset. Build something they have to buy.

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