(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
- Website / Blog: Blog
- Twitter: @JacobThurman
- Email: [email protected]
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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)