SaaS Buyers' Club How to get the perfect exit from your business with Nathan Hirsch
In this SaaS Buyers' Club Episode 28, your host, Software as a Service (SaaS) mergers and acquisitions (M&A) lawyer Omeed Tabiei from Optimist Legal interviews Nathan Hirsch, a serial entrepreneur who secured an incredible exit from his previous company, FreeUp.
In this episode, Nathan Hirsch discusses the journey of his company, FreeUp, from its inception to a successful exit. Nathan shares his early entrepreneurial ventures and how challenges in hiring led to the creation of FreeUp, a marketplace for high-quality virtual assistants and freelancers.
The conversation goes deep into the strategies behind their minimum viable product, the explosive growth of the platform, and the crucial tactics employed in making the business sellable.
They delve into the six-month-long, stressful process of due diligence leading to the acquisition, and Nathan provides valuable advice on earnouts, dealing with buyers, and ensuring a business continues to thrive post-sale.
The episode is packed with actionable insights for entrepreneurs looking to build and sell a business in the SaaS and e-commerce spaces.
00:00 Introduction to SaaS Buyers Club and Nathan Hirsch's Entrepreneurial Journey
00:36 The Genesis of FreeUp: From College Entrepreneur to Marketplace Innovator
00:56 Building and Scaling FreeUp: Challenges, Solutions, and Success
05:20 The Acquisition Journey: Decision Making, Negotiation, and Due Diligence
19:50 Post-Acquisition Insights and Building a Business to Be Sellable
27:21 Mastering the Hiring Process: Interviews and Expectations
27:35 The Art of Onboarding and Setting Clear Expectations
28:11 Creating a Transparent Hiring Environment
28:23 Navigating the Challenges of Rapid Growth and Client Management
29:07 The Importance of Cultural Fit in Hiring Decisions
30:09 Optimizing the Hiring Process for Success
30:24 Effective Strategies for Identifying and Addressing Bad Hires
31:25 Due Diligence from the Seller's Perspective
37:00 Ensuring a Smooth Transition Post-Acquisition
44:07 Navigating Earnouts and Post-Sale Relationships
52:51 Closing Thoughts and Advice for Future Sellers
Follow the Guest: Nathan Hirsch
► https://www.facebook.com/nathan.hirsch
► https://www.linkedin.com/in/nathanhirsch/
Follow the Host: Omeed Tabiei
► https://www.linkedin.com/in/Omeed-Tabiei
► https://www.facebook.com/omeedt
►https://www.instagram.com/saasbizlawyer
How to reach Optimist Legal about your SaaS M&A transaction to explore working with us
► https://www.optimistlegal.com
►Omeed@OptimistLegal.com
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About Optimist Legal:
Optimist Legal is a SaaS corporate and business focused law firm with extensive experience in M&A. When you work with Optimist Legal for your next SaaS M&A transaction, you can rest assured that you're working with diligent experts that are going to get you the best deal possible.