The No-Exit Strategy Sure, Duke Chung was tempted by a buyout offer. But he knew that he was worth much more. (He was right.)

Duke Chung Photo© David Lang

Duke Chung was facing a defining decision: Accept a lucrative buyout offer for Parature, the customer-support software company he started as a student at Cornell University, or stay the course and continue to grow Parature with his four co-founders.

Plenty of college entrepreneurs would jump at a big payout. But Chung and his co-founders decided the offer amounted to a huge pat on the back--and they turned it down.

"When a potential buyer comes to you and shares your same vision for the business, it suddenly gives you a lot more confidence about your plan," says Chung, now 32. "Plus, we figured there would be more offers like this one down the road if we continued building a great business."