Andrew has founded and sold multiple companies, including Bizness Apps and Altcoin.io. He is the author of the book Getting Acquired: How I Built and Sold My SaaS Startup.
If you plan to sell your startup or want to launch one, you'll learn a ton from Andrew's experience and specific tips. He explains the key milestones of the acquisition process and stresses the importance of finding multiple buyers to increase leverage and maximize the exit.
The quote "enjoy the journey" is vastly overused because it's so true. You have to enjoy the process of just, hey, I'm building this business each day, I'm just going to try and move the business forward just a little bit. Those small percentages or small improvements in your business, they compound over say five, six, seven years into something really meaningful."
[00:01:06] Andrew's background and the founding of Acquire.com
[00:03:46] Mistakes made during the sale of the first business
[00:08:01] TechCrunch's coverage of bootstrapped businesses
[00:13:51] Reasons to Start and Sell a Business
[00:16:08] Technology's Shelf Life and Acquisition Offers
[00:20:00] The Role of Brand and Storytelling in Marketing
[00:24:14] Building the Right Team
[00:27:43] Importance of Hiring Smart People
[00:33:04] Balancing Perseverance and Realism
[00:36:23] The importance of learning from failure
[00:38:13] Enjoying the process of building a business
[00:39:56] Building profitable SaaS businesses in specific niches
[00:49:18] The acquisition process
[00:52:40] Global availability and legal aspects
[00:53:49] Business model and future plans
Andrew's book: Getting Acquired: How I Built and Sold My SaaS Startup