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Also -- even if you intend to sell, consider raising a round first. Having an bonafide valuation will let you jack up the sale price 5x, or more.
A few things, though it's hard without much info (re: revenue/growth). Regardless: 1. A $14m sale is a huuuge win. You'd be set for life. A 100% likelihood of $14m is something that is difficult to turn down in almost any scenario. Even if you'd eventually make $50m, your life wouldn't change much from a net worth of $14m to $50m. You could buy a nicer jet? Let's say you take the $14m. Your life would (presumably) ch…
No one is buying a jet with a $14mm sale
A few things, though it's hard without much info (re: revenue/growth). Regardless: 1. A $14m sale is a huuuge win. You'd be set for life. A 100% likelihood of $14m is something that is difficult to turn down in almost any scenario. Even if you'd eventually make $50m, your life wouldn't change much from a net worth of $14m to $50m. You could buy a nicer jet? Let's say you take the $14m. Your life would (presumably) ch…
"Even if you'd eventually make $50m, your life wouldn't change much from a net worth of $14m to $50m. You could buy a nicer jet?" I know you're kidding around here, but all kidding aside, whether your net worth is $14M or $50M, you can't afford a jet. (I mean, nominally speaking, you can front the sticker price -- but you'll get eaten alive on fuel and maintenance over the jet's useful lifespan, and the jet as an ass…
- Raise some from http://www.indie.vc/ and then, upto 30% of your ARR as debt. Repayment done as x% of your rev.
If you think, these two steps will charge you up to build & grow this business to 10m or 100m revenue biz, then don't sell.
Else, $12m is pretty much FU money. Buy 250 bitcoins, buy bunch of rental properties, invest in your health & fitness. And, travel a bit to come up with the next idea.
I have sold two companies in last 5 years. But this time, I'm building bootstrapped business with an aim to remain bootstrapped till we touch $100m ARR i.e. building for long term
All the best. There is no right answer to this so, in future, never regret whatever route you pick at this juncture.
A few things, though it's hard without much info (re: revenue/growth). Regardless: 1. A $14m sale is a huuuge win. You'd be set for life. A 100% likelihood of $14m is something that is difficult to turn down in almost any scenario. Even if you'd eventually make $50m, your life wouldn't change much from a net worth of $14m to $50m. You could buy a nicer jet? Let's say you take the $14m. Your life would (presumably) ch…
> your life wouldn't change much from a net worth of $14m to $50m. You could buy a nicer jet? No one is buying a jet with a $14mm sale
Side question. It seems the conventional advice here is to take the money. What if it was far less, say half that? How much is too little?
1mm = 40k per year forever
2mm = 80k per year forever
3mm = 120k per year forever
4mm = 160k per year forever
Pretty set with anything past 2mm in most of the US, maybe you would want 3 or 4 if you really like SF.
Earlier quoted context omitted.
"Even if you'd eventually make $50m, your life wouldn't change much from a net worth of $14m to $50m. You could buy a nicer jet?" I know you're kidding around here, but all kidding aside, whether your net worth is $14M or $50M, you can't afford a jet. (I mean, nominally speaking, you can front the sticker price -- but you'll get eaten alive on fuel and maintenance over the jet's useful lifespan, and the jet as an ass…
Would a small helicopter make more sense?
50k to 150k per plane
AngelList was built to solve this problem. If your revenue and traction are true, you'll be oversubscribed. Create a profile, and message investors. Also -- even if you intend to sell, consider raising a round first. Having an bonafide valuation will let you jack up the sale price 5x, or more.
Or rather, did. I don't know if it's any better now, but I doubt it.
If you're young, sell now. Then take some time and pursue something more recreational for a while. When you're ready to get back into the grind you'll still have a nice stake to start with.
I might even argue even if you're old, sell now still. I assume "a ridiculously small team" means 3-4 people. Even assuming an equal split (it sounds like OP is CEO/main founder, so should be even more), that's $3mil a person at least. After tax that's still $1.5mil. It allows OP to live a much improved life, while at the same time optionally pursuing more business ventures if they wanted, or simply spend more time w…