Dennis Crowley is best-known for being one of the architects of Foursquare, but before founding the geolocation company in 2009, he had a less than ideal experience selling his previous startup, Dodgeball, to Google. 

During a recent interview with Inc., Crowley explained why, in hindsight, selling the location-based social network--which Google discontinued in 2009--might have been a mistake.

"There were all these things that we wanted to do at Dodgeball that we didn't get a chance to do," Crowley says. "We had the kernel of a really amazing idea that needed a lot of energy and gasoline thrown on top of it, and we weren't able to really get there."

So what advice would Crowley give to other entrepreneurs considering an exit from their startup?

"Don't let go of the company until you've achieved all the things that you wanted to do, or at least until you can see where the finish line is, where you're close enough to the vision that you're probably going to hit it anyway," he says.

"Make sure that the company is far enough along that you feel comfortable putting it in someone else's hands."

To hear more from the conversation, watch the video below.