Get In, Get Rich, Get Out

Groupon's Share Price Performance Over Last 9 Months

The entrepreneurial mantras are crisp and clear.

Cash is King.

A bird in the hand is worth two in the bush.

Sometimes the name of the game in business is to get in, get rich and get out.

Some entrepreneurs need to realise that they are not always building a long term, sustainable business. That their brainchild is simply a product of its times. And it has a short shelf life. A bit like cheese.

But knowing when to get out is what separates the successful serial entrepreneurs from their counterpart failures.

That's why I will always have the greatest respect for Julie Meyer who sold the two year old First Tuesday global technology investment network for a cool $33million. It wasn't worth that just 12 months later but, as an entrepreneur, she did her job and made the best deal. No doubt.

That's why I worry for Groupon's founder Andrew Mason. He may have missed his moment. Google offered him $6billion for the global network of daily deal sites a couple of years ago. A good deal by any standards.

Perhaps Andrew believed his deal had been discounted? Either way, it was rejected and now his company is worth less than a third of that price.

How ironic, then, is it that Andrew delivered a lecture at Stanford University in 2010 where he gave students 6 tips on how to get super rich.

Among his top tips are:

"You’re building a tool, not a piece of art. Don’t get blinded by vision."

and  "Quit now. Sometimes you have to let an idea go."
Maybe time he listened to his own advice?

Before it's too late.