Every founder pictures the same thing when they think about selling their company. The yacht. The private jet. Summers in Italy.
What
@tobi_pearce11 said actually happens after a $25 million exit:
"You wave goodbye to 30% straight off the top. Taxes, fees, lawyers, accountants. You've gone from 25 to 16."
"Then you spend 5 million. Buy a car, give your parents some money, buy a house. You end up with 11 million."
"Almost everyone I've talked to who's been through a real exit had the exact same reaction. Oh my God, I don't want to lose this money. You're 2 or 3 bad choices away from nothing."