In Europe this type of business development does not have a long tradition, and even in the USA is not yet considered a classic solution for making money.
Selling a business after 10-20-30 years is not a new phenomenon. A solo founder may loose his or her interest over the years due to the technological and / or economical changes reshaping the original business, or willing to invest in a different activity, or just feeling the need to retire. The evolution of a partnership may experience various ups and downs, but at some point the founders may choose to sell a big part of their shares.
Building a business from scratch with the aim of selling it for a good price is more like a new profession, because even if the target is merely financial, the founders need to put in the same effort and dedication in growing their new business, as the initiators of a regular start-up.
As it always happens with sniffing out business opportunities, "many are called but few are chosen". People who don't have years of valuable work experience in filtering, interviewing and managing human resources, will usually find a too big challenge to keep the boat floating.
In other words if a group of investors do not have hands-on experience in HR & PM, their own start-up is the worst possible place to learn.
In the USA people who have already failed with three or more businesses are considered experienced, but who wants to pay that much for growing professionally?
While the board of directors are changing their personnel and decisions all the time, they are in the initial phases of a start-up, regardless of the company's age. In case their product or service offer is considered attractive, and they find sufficient investors for growing, but they don't choose the right tools and solutions for taking their business to the next level, then ...they will certainly gain experience.
