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New Micro Startups For Sale 🚀 - Migrate Assets Correctly
I have got so much positive feedback about the latest issue and interview. So, I decided to do interviews regularly for my subscribers.
This week I was faced with a few technical issues implementing Premium so that the launch would be postponed.
Today I am going to cover the theme of exchanging assets when you acquire your next micro-startup.
As always, I am so glad about your honest responses. This fuel boost Microns forward.
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🧶 Assets migration. The right way
The most critical part here is to have a clear plan. Then, with it in mind, you can smoothly acquire in a short period.
I am going to tell you my way of doing it.
The first thing I suggest you do is create a document and list all accounts and services your startup is using. Then, please share it with your buyer.
Discuss how you move assets and money. I suggest using escrow service to make it secure for both.
After you get a notification that money went to the escrow account, you should do one crucial step to make life easier for the buyer.
Sign up for password manager and put all your accounts and passwords here.
Here are a few things to consider:
✅ Ensure the buyer has access to all payment gateways such as Stripe, Braintree, and so on.
✅ Transfer your email lists and flows for all email clients and CRMs such as Revue, MailChimp, and HubSpot.
✅ Don't forget about social media pages which are valuable platforms from which the buyer can reach customers.
✅ Transfer ownership of the domain while keeping the nameservers the same to avoid potential downtime.
✅ Codebase and hosting service. Be sure that the buyer can adopt it and understand how code changes and deploy work.
Then share this password manager with your buyer. The buyer should copy it and verify that he got access to all resources.
After this, the deal is done, and you can move on to the support period successfully.
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Let me know if you have a story about selling, buying, or partnering on the project. I will cover it here so other readers can learn.