Why an acquisition strategy needs proper planning
When you own a technology company and you decide that it is time to search for a business to acquire you, there are certain aspects that must be considered. This is not to say that a successful technology acquisition will take several years to complete, just that it is important to gather advice from those who understand the industry and are willing to work with you.
For example, James Altucher is an entrepreneur who sold his own tech company. He explained his process in a TechCrunch contribution piece, and said that he spoke to as many organizations as possible, whether he wanted them to buy his company or not. On the other hand, a colleague of Altucher's said he opts to "trash every company he can think of" in the hopes that the businesses will do the same. That way, some of their audience will be directed back to him. As Altucher explains, this could have a great short-term effect, but in the long-run, it will not help your company be sold.
Overall, an entrepreneur needs to know his or her business, inside and out. This will make it easier to explain daily operations and future goals to prospective partners. Furthermore, any investment banking firms will need to know company details, so they can also help you work toward the best solution possible.
Asking for help or advice is not something to sneer at. Companies that understand the sector can assist you in tracking down a solution that will benefit your organization in the long run and still give you a feeling of accomplishment after the fact. The right opportunity doesn't need to take forever, it just needs the right amount of attention and care.