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Great read, highly recommended. I especially liked this paragraph: The absolute most important factor in getting a great deal in a sale is not having to sell.
by klausjensen 7y ago
Great read, highly recommended.
I especially liked this paragraph:
The absolute most important factor in getting a great deal in a sale is not having to sell. All of the work here happens well before the sale. Craft your business in a way that you would be perfectly happy to run it indefinitely. Get your work/life balance in order and your stress level under control. Go into a sale process with the idea that if you don’t get exactly the offer you want, you are 100% willing to just wait it out and run your business for another year.
- brianwawok 7y agoAnd for this to happen you really want to bootstrap from day 1. If you have investors on your back you have pressure to grow or bust. Bootstrapping isn’t always easy but it seems to have been worth it so far!!
- tylertringas 7y agoBootstrap or just don't raise 'too much' capital and not from VCs. Lots of optionality still available for founders who raise eg less than $500k and don't give up control. (I'm not exactly neutral on this tho)
- brianwawok 7y agoFor sure! Friends and family can be a good source, but can imply different risks (i.e. awkward Thanksgivings).