I'm Looking to Leave the Business Post Sale?

Some buyers want the founder to leaver, er, they're very open to the founders staying. It really depends on buyer, and that's usually dictated duringa negotiations. But i say we'd probably see like a 50 50 split in terms of who is going to leave. There's usually always some sort of transition period. Transitions, long transitions are sometimes no transitions just just depends, ok.

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Andrew Gazdecki is the Founder of Microacquire, an online startup acquisition marketplace. Andrew is also the former CEO & Founder of Bizness Apps and Altcoin (both acquired).

On this episode, Chris and Andrew discuss the early days of founding Bizness Apps and Altcoin before his jump into Microacquire. They break down the process of how Microacquire works, what types of companies are on the platform, how they engage with potential buyers and advice for founders to be successful in selling their businesses. Finally, Andrew discusses why VC isn't right for everyone, his Bootstrappers platform and much more. Enjoy!

Follow Chris on Twitter: www.Twitter.com/FortWorthChris

Learn more about Chris Powers and Fort Capital: www.FortCapitalLP.com

Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/

(02:43) - Andrew’s Career Background Leading into Microacquire

(15:31) - Why Andrew Regrets Starting an Ethereum Transaction Company

(18:43) - What is MicroAcquire and what are you trying to achieve?

(21:05) - How do you make money?

(24:03) - What is the range of sellers you’re seeing on the platform?

(26:48) - Does the seller have to put the price they want on the platform?

(29:08) - What’s the vetting process for sellers to get on?

(30:47) - What’s the range of buyers you see on the platform?

(32:28) - What do you mean by Corp Dev licenses?

(33:24) - Have you had any first-time buyers who just looking to get into entrepreneurship?

(35:03) - What would a $10,000 per year revenue business vs. an $8mm company look like on Microacquire?

(38:43) - Are you providing resources for new buyers or how do they learn how to acquire businesses?

(42:00) - What are the things sellers need to check off the list in order to sell quickly online?

(44:49) - Is something like the founder wanting to exit immediately listed on Microacquire or does that only come up in conversations with buyers?

(46:56) - Does Microacquire cut out intermediaries like investment bankers?

(49:36) - How does the buyer and seller communicate with each other? Do they need to use platform-approved legal templates?

(56:15) - How are the smaller buyers financing deals?

(59:44) - How are you going to crack the code to get $100+ MM companies onto the platform and do you plan to bring non-traditional companies on to sell?

(1:03:44) - Dealing with Team Members Either Knowing or Not Knowing the Business They Work For Is Up For Sale When It’s Listed on Microacquire

(1:06:29) - Launching Bootstrappers.com & Beefing with Tech Crunch

(1:12:15) - How does a company know if they should go raise from a VC or not?

(1:16:57) - The #1 Reason For Start Up Success

TED Talk: The Single Biggest Reason why Start Ups succeed

(1:18:12) - Why did you choose to build in public and what have been some positives/negatives of the experience?

(1:20:01) - How do you build a ‘fun’ company?

(1:23:46) - Is it harder to build a fun company when you’re fully remote?

(1:26:11) - Is a hotdog a sandwich?

(1:26:49) - What’s the best advice you’ve ever been given?

(1:28:44) - How can people find you or Microacquire

Website: www.microacquire.com