119. Ferdinand Goetzen, CEO, Reveall - Selling your early stage SaaS!
Dec 27, 2023
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Ferdinand Goetzen, CEO of Reveall, shares his experiences in selling an early-stage SaaS startup. He discusses the driving factors and emotional aspects of this decision, as well as how to prepare the team for the process and life after acquisition. The challenges of the transition and handling emotions are also explored.
Merging with another company can lead to the fulfillment of ultimate goals and visions.
Assessing factors such as market potential and brand value is important when considering a merger or acquisition.
Selling a business can evoke a range of emotions and it is essential to evaluate personal motivations before embarking on a new journey.
Deep dives
The Challenges of Working with Qualitative Insights
One of the main challenges for SaaS companies is working with qualitative insights, which can be difficult and have a high barrier of entry. However, companies like REVE are aiming to address this challenge by providing a platform that helps product teams connect qualitative insights to their decision-making process more effectively.
The Importance of a CEO Network
CEOs of B2B SaaS companies often face feelings of loneliness and the need for support from peers who understand their challenges. The creation of a CEO network, like the one offered by the SaaSiest Podcast, can provide CEOs with the opportunity to collaborate, share ideas, and leverage each other's knowledge and networks to accelerate their individual journeys.
The Benefits of Merging with Another Company
Merging with another company can offer significant benefits, such as fulfilling your ultimate vision and goals. It allows companies with complementary visions, values, and product offerings to come together to create a stronger and more impactful entity. By joining forces, companies can benefit from shared expertise, resources, and a larger market presence.
Considerations for Mergers and Acquisitions
When considering a merger or acquisition, it is important to carefully evaluate the fit between the two companies. This includes assessing factors such as market potential, vertical alignment, technical IP advantages, and brand/community value. Additionally, negotiations should focus not only on the price tag, but also on determining the responsibilities, conditions, and potential challenges that may arise during the process.
The Emotional Journey of Selling a Business
Selling a business can elicit a range of emotions, including a mix of fulfillment, uncertainty, and potential loss. Founders may question if they made the right decision, harbor doubts, or reflect on their next steps. Taking time to process these emotions and evaluating personal motivations and aspirations is crucial before embarking on a new journey.
In this episode, we speak with Ferdinand Goetzen, CEO, Reveall, the product management platform that helps teams create better alignment between their product strategy and operations.
We talked with Ferdinand about what it feels like to sell an early-stage SaaS startup. We are particularly looking into the steps leading to this decision and the emotional aspect of them:
- What are the real driving factors to sell a business?
- How do you know when the timing is right?
- How do you prepare the team for a process of this kind? And for the life after the acquisition as being part of a different, larger organization.
- What is most challenging in this transition? Why? How do you overcome it?
- What emotions are involved in this process and how to handle them?
These are some of the many topics we address with Ferdinand. Please tune in to hear his thoughts on what it is like to sell your early-stage SaaS business, and the decisions and emotions involved in the process.
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