80% of software companies are zombies. After three decades guiding thousands of software founders through exits and acquisitions, Mark Edwards reveals the uncomfortable truth: most businesses exist in endless loops, neither thriving nor dying. In this episode, Mark shares what separates the 20% who succeed from the zombie majority. His verdict? Strategy beats everything else. The conversation explores how AI quadruples the number of software companies whilst collapsing barriers to entry. Mark warns that despite new technology, success still demands emotional intelligence, strategic positioning, and teams that balance technical, creative and commercial capabilities.
Guest bio
Mark Edwards brings three decades of experience in software company mergers and acquisitions. As founder of Boss Equity (established 1999), he has worked with thousands of software companies across document management, workflow automation and enterprise solutions. His pattern-matching across hundreds of exits reveals why most software businesses fail to escape mediocrity. Mark combines his early creative background in photography with deep commercial expertise to help founders understand strategic positioning and market dynamics.
Topics covered
• Why 80% of software companies exist as zombie businesses.
• The three-word answer to escaping mediocrity: strategy, strategy, strategy.
• Only 35% of companies actually know their competition.
• Less than 5% seeking investment successfully secure funding.
• How AI quadruples the number of software companies in five years.
• Why emotional connection, not features, drives B2B sales decisions.
• The danger of technical founders building companies in their own image.
• Barriers to entry collapsing through tools like Lovable.
• The need for cerebral diversity: creatives, strategists and technicians.
• CEOs as figureheads who make their teams look exceptional.
Timestamps
00:00:00 Mark's lifelong obsession with improvement
00:03:14 Building Boss Equity and international expansion
00:05:00 Pattern matching across thousands of companies
00:08:10 The 80% zombie company problem explained
00:10:00 Strategy as the only escape route
00:11:13 Understanding real competition and market positioning
00:16:00 Marketing failures and disconnected sales processes
00:18:17 Zombie loops and endless investment searches
00:19:48 Why less than 5% achieve institutional investment
00:22:32 AI creating the most exciting time in software
00:26:00 Barriers collapsing and competition intensifying
00:29:23 The rise of peer-to-peer funding models
00:32:00 Companies reaching hundreds of millions overnight
00:37:11 The need for cerebral diversity in teams
00:39:30 CEOs as figureheads who elevate their teams
00:41:05 The future of RPA and business operating systems
00:47:38 Psychology as the key to successful deals
Resources and links
• Mark Edwards on LinkedIn
• Tim Bond on LinkedIn
• Boss Equity – Mark's M&A advisory firm
• Lovable.com – No-code platform changing barriers to entry
Listen now
• Spotify
Related episodes
• Episode 74: Marketing in an AI-first world
• Episode 72: Building scalable software businesses
Get your AI acceleration report
Want to teach your team to build their own AI agents that act like teammates, boosting productivity, quality, and job satisfaction? Get your FREE AI Acceleration Report (for listeners with teams of six or more), a quick team survey and consultation that maps priority workflows, time saved and ROI from an AI upskilling programme. Visit Cogniscale.com and enter promo code PODCAST.
Connect with us
Follow Enterprise Thought Leadership for weekly episodes exploring technology, operations and the future of work. Rate and review this episode if you found it valuable. Have burning questions or topics for future episodes? Email podcasts@techpros.io