First Class Founders: Creators | Solopreneurs | Personal HoldCo

How to Build and Sell a Startup with Andrew Gazdecki, Founder and CEO of Acquire.com

Feb 21, 2024

Learn from Andrew Gazdecki about successful business exits, how to structure deals, find the right buyer, and sell a startup in as little as 30 days. Discover insights on business acquisitions, strategic vs. financial buyers, and preventative measures for startup sale disappointments. Explore deal-making challenges, the importance of transparency, and Acquire.com's innovative approach to simplifying startup acquisitions.

36:59

Episode guests

Andrew Gazdecki

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Timing of business exit depends on personal goals, even million-dollar exits are feasible for bootstrap founders.

Critical role of deal structuring and preparation in selling a business, involve attorneys early for a smooth acquisition process.

Deep dives

Andrew Gazteki's Entrepreneurial Journey

Andrew Gazteki, from a young age, was passionate about business and entrepreneurship. He started his first business while still in college, creating business apps that became a huge success, powering 5% of all apps in the iTunes app store. Later, he sold business apps for a significant sum, which he used to start his current venture, Acquire.com, a platform that helps startups get acquired.

Introduction

2min

Insights on Building and Selling Startups with Acquire.com Founder and CEO

3min

Navigating Business Exits: Timing, Preparation, and Valuation

7min

Understanding Buyer Types and Deal Structures in Business Sales

2min

Strategic vs. Financial Buyers in Business Acquisition

10min

Dealing with Startup Sale Disappointments and Preventing Nightmare Scenarios

3min

Navigating Deal-Making Challenges

4min

Building Startups and Making Strategic Bets on Business Apps

3min

Simplifying Startup Acquisitions with Acquire.com

4min

E72: When is the right time to exit a business? Sounds like a simple question, but the answer... isn't as simple.

Today, host Yong-Soo (@YongSooChung) sits down with accomplished entrepreneur Andrew Gazdecki (@agazdecki), the Founder and CEO of Acquire.com. Andrew discusses the strategies behind successful exits and how to position your company to be sold for the highest valuation. He also discussed how startups can be bought in as few as 30 days.

On today’s episode, you’ll learn:

- How to Structure Your Deals
- Strategic Buyer vs. Financial Buyer
- How to Get Ready to Sell Your Business
- How to Find the Right Buyer for Your Business

Let's get down to business!

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EXCERPTS:

Startup Valuations: "You can sell it for whatever you want. You can sell it whenever you want. You can sell for $10,000,000, all cash to a private equity firm with 90-day transition period, you're out, and then you just get to do whatever you want with your life. " — Andrew Gazdecki (05:51)

Understanding Business Acquisitions: "So if you can structure, you know, an acquisition with favorable terms like that, that's the way to go. And that I'd say that's probably the most common is cash in close with some component of, maybe a little bit of seller financing at the end, 80% cash in close, 20% seller financing with 3 to 6 month transition depending on the size of the business." — Andrew Gazdecki (19:14)

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LINKS:

From Bankruptcy to Millionaire in 2 Years: How Tibo Louis-Lucas Built and Sold TweetHunter & Taplio for Multi-Millions

Acquire.com

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First Class Founders is a show for indie hackers, bootstrapped founders, CEOs, solopreneurs, content creators, startup entrepreneurs, and SaaS startups covering topics like build in public, audience growth, product marketing, scaling up, side hustles, holding company, etc.

Past guests include Arvid Kahl, Tyler Denk, Noah Kagan, Clint Murphy, Jay Abraham, Andrew Gazdecki, Matt McGarry, Nick Huber, Khe Hy, and more.

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First Class Founders: Creators | Solopreneurs | Personal HoldCo

How to Build and Sell a Startup with Andrew Gazdecki, Founder and CEO of Acquire.com

Episode guests