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I am not a good founder. I have weak risk tolerance, I'm lazy, and I don't have the mental fortitude needed to see complex problems through to completion.
So if someone seriously offered me quick money for my lackluster business, that's the only time I would take it.
Might contain a few useful tidbits. What most stuck with me from his pieces on microSaas is that the best time to sell is when you don’t have to - which implies that you should not put yourself in a situation where starting the talks leads you to have to sell (because you fall in love with the idea of selling, of you neglect the business, etc)
The real danger of going through this process is that you will get so enamored with this acquisition that the normal drudge of plugging away becomes uninteresting in comparison. They drag you along, you stop shipping, you stop growing and then they can offer you whatever they want or nothing at all. In the end, I don't think many people are very happy post acquisition, so if you feel good about your product and team,…
Or, worse yet, you spend a lot of time and effort on this acquisition, time passes, due diligence goes through, all of your team already expects it to happen, growth stalls, everybody slacks off - and then they cancel it completely at the last moment.
"Magic Box Paradigm: A framework for startup acquisitions"
If you haven't check out @DHH's start up school talk. (Link is to a section for you, but go back and listen to it all) https://www.youtube.com/watch?v=0CDXJ6bMkMY&feature=youtu.be...