A founder can sign a deal with an impressive headline number and still take home far less than expected, because the price at the top of a term sheet is rarely the amount that gets wired at close. In this episode, managing directors Mike Lyon and Jeff Koons break down the terms that can erode a founder's take-home, which ones buyers negotiate hardest, and which ones founders tend to overlook, and how holding onto leverage early in the process can help founders improve their final outcome.

Vista Point Advisors is a boutique sell-side investment bank providing unconflicted M&A and capital raising advice to founder-led software, AI, and internet businesses. We partner with entrepreneurs of growing businesses to help them understand their options in the marketplace so they can maximize business value, leverage their options, and realize their ideal outcomes.

Securities offered through Vista Point Advisors, member FINRA/SIPC. This has been provided for informational purposes only and should not be considered as investment advice or a recommendation. It is not intended to address all circumstances that might arise. The views expressed herein may change at any time subsequent to the date of issue. Opinions contained herein should not be interpreted as a guarantee of future results. Outcomes will vary depending on individual circumstances. Any examples used in this material are generic, hypothetical and for illustration purposes only. Testimonials from past clients may not be representative of the experience of other clients and there is no guarantee of future performance or success. Clients are not compensated for their comments.

For founders who built a software company without big venture rounds, the exit playbook looks different. Raising little or nothing keeps your options open, but it also means you have to build a company worth buying without the fuel VC-backed peers spend on sales, marketing, and product. In this episode, Mike Lyon sits down with Greg Head, founder of Practical Founders, to discuss how bootstrapped SaaS founders keep their optionality, why AI is shifting the calculus for smaller and middle-market software companies, and the specific steps to prepare for a transaction on your own terms.

Vista Point Advisors is a boutique sell-side investment bank providing unconflicted M&A and capital raising advice to founder-led software, AI, and internet businesses. We partner with entrepreneurs of growing businesses to help them understand their options in the marketplace so they can maximize business value, leverage their options, and realize their ideal outcomes.

Securities offered through Vista Point Advisors, member FINRA/SIPC. This has been provided for informational purposes only and should not be considered as investment advice or a recommendation. It is not intended to address all circumstances that might arise. The views expressed herein may change at any time subsequent to the date of issue. Opinions contained herein should not be interpreted as a guarantee of future results. Outcomes will vary depending on individual circumstances. Any examples used in this material are generic, hypothetical and for illustration purposes only. Testimonials from past clients may not be representative of the experience of other clients and there is no guarantee of future performance or success. Clients are not compensated for their comments.

When founders picture selling their company, they often focus on one thing: the price. But who sits on the other side of the table shapes far more than valuation. It changes how the deal gets structured, how fast it moves, what buyers dig into during diligence, and what life looks like after closing. In this episode, managing directors Mike Lyon and Jeff Bean discuss the different buyer types software founders are most likely to meet, how they think about value, and what founders should weigh before deciding who fits.

Vista Point Advisors is a boutique sell-side investment bank providing unconflicted M&A and capital raising advice to founder-led software, AI, and internet businesses. We partner with entrepreneurs of growing businesses to help them understand their options in the marketplace so they can maximize business value, leverage their options, and realize their ideal outcomes.

Securities offered through Vista Point Advisors, member FINRA/SIPC. This has been provided for informational purposes only and should not be considered as investment advice or a recommendation. It is not intended to address all circumstances that might arise. The views expressed herein may change at any time subsequent to the date of issue. Opinions contained herein should not be interpreted as a guarantee of future results. Outcomes will vary depending on individual circumstances. Any examples used in this material are generic, hypothetical and for illustration purposes only. Testimonials from past clients may not be representative of the experience of other clients and there is no guarantee of future performance or success. Clients are not compensated for their comments.