Microns: Micro Startups For Sale, Acquisition Call & Broker

#10ใƒป
19

issues

Ilya Novohatskyi
Ilya Novohatskyi
Honestly, I had a face similar to this cat after seeing how many people liked and subscribed to Microns ๐Ÿ˜‚
This week we launched on Product Hunt and finished the day in 3rd place. Thatโ€™s an awesome result. I am thrilled ๐Ÿ˜„
But it wouldnโ€™t be possible without you. Thank you, everyone, for your support, feedback, and questions ๐Ÿฅฐ
It really means a lot to me and drives Microns to the moon ๐Ÿš€

Photo by Tran Mau Tri Tam on Unsplash
Photo by Tran Mau Tri Tam on Unsplash
๐Ÿ‘‹ Welcome
Welcome to theย 419 new peopleย joining this week!
Feel free to reply to this email. Replying helps Google realize itโ€™s not spam and helps me learn what topics are important to you.
Prefer Twitter? Drop me a DMย here.
Now letโ€™s crack on with the newsletter ๐Ÿš€
(Estimated read time: 4 minutes)
๐Ÿ“Ž Preparation before the call
Let me explain the prep phase for buyer and startup founder.
It would be great if the buyer asks due diligence questions before the call with the startup founder.
Therefore if the founder gets more requests from potential buyers, he should prepare Google Docs with all questions answered.
So he can send a link to the doc and donโ€™t spend much time on frequently asked questions.
Answering only specific questions from the buyer. It will be easier for both sides.
โ˜Ž๏ธ The call itself
The first rule here, always to be kind and appreciate each other.ย 
Connection and relationships matter more than other stuff. Remember this.
You can use Google Meet, Zoom, or another video tool that has a screen sharing feature.
On the call, the founder should make a short demo, 3-5 minutes, for a buyer.
Show only important things on the demo, no fluffy stuff.
The founder should show analytics metrics, revenue, and ownership approval via screen sharing.ย 
Donโ€™t share passwords or private tokens for security reasons โ€” only public data.
The buyer may ask additional questions, try to answer them fully to give a full understanding.
When all questions are answered, you can make a deal in the call.ย 
Negotiate the asking price, transfer process, and support period. I will make a detailed section about these in the next issue.
Anyway, donโ€™t be upset if the buyer asks for time to think about the deal.
Be friendly and nice.
๐Ÿค” Do I need a broker?
I got a question from one of my followers: โ€œDo I need a broker to acquire a micro startup?โ€
Great question!
To be short, it depends.
If you trust each other, you can make a bank transfer and schedule another call to transfer all assets(domain, codebase, passwords). Simple as it.
If you donโ€™t know each other, it is better to use the ESCROW service. It protects both buyer and founder.
Something like escrow.com or tazapay.com. Let me know if you know something better. Would love to cover it in my next issue.
Thatโ€™s it.
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๐Ÿ’ก Wisdom from subscriber
Dennis Zoma ๐Ÿ’ฅ
How to build any product? ๐Ÿ‘ท๐Ÿปโ€โ™‚๏ธ

1. Set up a free landing page with a waitlist.
2. Share it with your target audience.
3. Speak to potential customers.
4. Pivot or cancel your idea.
5. Build the product.

Always validate first.
๐Ÿ’Œ Share with a friend
If you found value in reading this issue, please consider sharing it with your dear friend.
Let me know if you have a story about selling or buying a startup. I will cover it here so other readers could learn.
Stay awesome,
Ilya Novohatskyi
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Ilya Novohatskyi
Ilya Novohatskyi @ilyanovohatskyi

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