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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Micro iSV to Micro Acquisition (@JacobThurman)
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Links to Speaker’s Websites
- Website / Blog: Blog
- Twitter: @JacobThurman
- Email: Jacob@twodesk.com
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Micro iSV to Micro Acquisition (@JacobThurman)
Tweet This(This article is part of the MicroConf 2015 Recap. Want to explore more talks from the event? Go back to the Recap Hub)