41–50 of 125 posts
Shows how out of touch I am with the corporate world. I can't believe people pay monthly for this.
> Purposefully under-optimize > For example, I really do not understand paid search advertising (Google Adwords, Facebook, etc) so I purposefully put almost no effort into it as a customer acquisition channel for Storemapper. This article is awesome and super helpful, but that particular point seems like terrible advice. Surely it would be much better to hire a marketing/adwords contractor, and increase the value of…
...the cash, from selling the business has built momentum for other projects like [...] angel investing, I just knew that would be in there. Why do so many tech people seem to think that VC investment is what they want to be doing once they have spare cash? This isn't a personal critique of the OP, but it just seems so very common in general. I don't understand it.
I "invest" in new startups because I want to help the next generation. I put invest in quotation marks because I don't expect to make any money (I will be happy if I break even), but I do want to give back and create the environment that I never had access to. I know others feel the same.
That sounds noble. But, concretely, you want to help people make SaaS products like Storemapper (mentioned in the article)? I don't want to sound demeaning, but is that really such a noble goal?
Earlier quoted context omitted.
Can you give an idea of the multiples of X (i.e. revenue, Ebitda, etc) that you did consider? You mentioned 6x(monthly-revenue) was bad. But can you discuss the spectrum of what looked good/interesting? (not asking $$$ .. just multiples that were presented)
Can't talk about my deal (see below). At the time I started discussions (early 2017) I had SaaS brokers tell me the "market rate" for SaaS was about 3-3.5x annual SDE (see post for discussion of what SDE is).
Earlier quoted context omitted.
I believe this a great feature that create "tech hubs". It is the "give back to the community" of tech entrepreneurs. It is not just a financial decision.
But there's plenty of ways to 'give back to the community' without being the one waving the chequebook. In particular, if you've got the spare time to work on other projects, you can do plenty to help out.
Shows how out of touch I am with the corporate world. I can't believe people pay monthly for this.
...the cash, from selling the business has built momentum for other projects like [...] angel investing, I just knew that would be in there. Why do so many tech people seem to think that VC investment is what they want to be doing once they have spare cash? This isn't a personal critique of the OP, but it just seems so very common in general. I don't understand it.
> I don't understand it.
I do. Angel investing is a status symbol in tech circles.
Earlier quoted context omitted.
I believe this a great feature that create "tech hubs". It is the "give back to the community" of tech entrepreneurs. It is not just a financial decision.
But there's plenty of ways to 'give back to the community' without being the one waving the chequebook. In particular, if you've got the spare time to work on other projects, you can do plenty to help out.
I think a lot of us non-rich guys know this, too. When I was young and had no money, it was harder to give someone a significant amount of money than to spend my time helping them. So I would give my time. Today when someone asks me to help them with something I'm thinking "can I just give you money, hire someone to do it" unless it's something I actually enjoy doing. And I'm FAR from rich.
One of my least favorite things is when a family member asks me for help but they refuse to take money / let me pay for something. They think they're being fair by refusing money but they're actually being unfair because they're asking me for help but not letting me help them in the way that is easier for me, purely because they don't want to feel bad for having taken the money.
...the cash, from selling the business has built momentum for other projects like [...] angel investing, I just knew that would be in there. Why do so many tech people seem to think that VC investment is what they want to be doing once they have spare cash? This isn't a personal critique of the OP, but it just seems so very common in general. I don't understand it.
I "invest" in new startups because I want to help the next generation. I put invest in quotation marks because I don't expect to make any money (I will be happy if I break even), but I do want to give back and create the environment that I never had access to. I know others feel the same.
This is the reason I would do it if I ever make FU money.