A founder walks through how to sell a startup on MicroAcquire, covering the timeline from listing to close. The video covers managing multiple buyers, setting deadlines, and clarifying deal terms to get the best outcome.
As soon as you go live on Microquire, you're going to be hit up by a ton of different buyers. So you really want to funnel everybody into a certain time period. Acquisition process overviews. This can be a really effective way to create urgency for your startup and also show that there's other buyers interested and you want to get a yes as soon as possible. You basically say you have a deadline for booking calls, so you're going to give access to the company presentation. This would be giving us access to the private details in your microacquired profile. And then from this time period, from August 10th to August 17th, you are available for calls, answer any questions, Q and A, and then you have a deadline for submitting loi. So formal offers. So this is really a powerful way to just show buyers that there's other parties interested. So the more you drag your feet, the lesser chance you have of acquiring the company. And then clearly state the objectives for the sale of your company. What price are you looking for? What terms? So in this example, I have immediate transfer of 100% of the company ownership, no contingencies, for a minimum price of 2.5 million. Note, we might have severed buyers. Given current revenue margins, we won't consider any proposition below the minimum terms. Just basically being really upfront. Like we have, you know, three employees, they have been reassigned after the transition period. The buyer agrees to bear all legal costs. That one's, you know, a negotiating chip decision by the end of May, August, whatever your timeline is. And then we have our offer to maximize your future success. So this is what you're going to do in return. So you're going to accept to provide transition support and training for maximum of three periods, depending on the deal size. This would probably be longer. It really depends on the buyer. But this is something to talk about up front. The more information you can give buyers about your expectations or timeline, the better. And just being upfront, this is what I'm looking for. If it's not a fit for you, let's just end the conversations and that's that.
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