Try to build a company you would never sell.
— David Cancel (@dcancel) August 16, 2014
BATNA is the best alternative to a negotiated agreement. People naturally formulate these in negotiations so they are not really interesting. I have two thoughts to share though:
1) Early in our startup, our goal was a quick sale. We sort of wanted to make money and return to our regular careers. We had early acquisition interest and were naive in many ways about dealing with those negotiations. Our BATNA was weak.
2) Startups should be focused on building a great business. Owning a functioning and money producing business is awesome. Ultimately it is much more attractive to potential acquirers too if you build something great.
So the BATNA for startups in acquisition discussions should always be to keep building a great and lucrative business.
What are your thoughts on BATNA for startups?