Jacob Thurman — "Micro-ISV to Micro-acquisition: Selling my 11-Year One-Man Software Business"


(This article is part of the MicroConf 2015 Recap. Want to explore more talks from the event? Go back to the Recap Hub)

Main Concept

Selling my 11-year one-man software business

SUBTITLE

Making big, important life-changing decisions

Three Key Points

  • Instrument products to see how users use their software 
  • Take your time to plan important decisions so you don’t make dumb mistakes
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Talk Recap

Lesson Learned

  • Every suggestion by every speaker and attendee at MicroConf is a valuable solution to someone’s problems
  • Take your time to plan important decisions so you don’t make dumb mistakes

Pricing for Sale

  • Lifestyle is more important than money
    • Buy money is a force-multiplier for desired lifestyle
  • What is my business worth to me?
    • Revenue, assets, liabilities, etc
    • Freedom, autonomy, etc

What is my price?

  • Future liability to self: income replacement
  • Cash to use right away
  • Arbitrary value attached to the ‘invaluable’
  • Taxes!

Lesson Learned

  • Make big decisions based on as much objective data analysis as possible

The Offer

  • They came up with an offer based on..
    • “What would it cost us to build the same product?”
    • “What would it cost to train people on staff to have the same expertise that I have?”
    • …which was based on the MINIMUM acceptable value
  • Separately, they offered
    • Coming on board as a consultant to integrate
    • …which was close to the top of the MIDDLE acceptable value

Health Issues

  • Don’t make big decisions when you feel
    • Hungry
    • Angry
    • Lonely
    • Tired
    • Sick

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Speaker’s Slides

Links to Speaker’s Websites

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(This article is part of the MicroConf 2015 Recap. Want to explore more talks from the event? Go back to the Recap Hub)