5 lessons I learned from selling my 1st business

So, earlier this week I sold 3 products to a PE firm based in San Francisco.

If you want to know the full story behind the acquisition, you can read my earlier IH post 👉 How I Sold My First Business 🥳🥂

In this post, I lay out the 5 lessons I learned in a process that took 17 days, 77 emails, and 2 Zoom calls.

Enjoy :)

1. It’s easier to persuade when you have numbers 📊

Numbers, stats, and data points that indicate growth give you leverage in negotiations with an investor or an acquirer.

Without those metric, you're fighting an uphill battle in trying to convince an investor/acquirer that your business is worth what you say it is.

With those metrics, it's easier to demand/justify whatever price you want.

2. Don't let your ego get in the way 👤

It's not about you. It's about the business and your customers.

So when an acquirer/investor comes in with a better vision for your business, don't think of it as you lacking the ability to build it yourself.

Think of it as a partner joining you to grow your business better than you could've done by yourself.

3. Don't let the money make you short-sighted 👀

Keep both parties happy.

Come to a price that both you and the acquirer will be happy with.

A happy relationship = long term success.

4. The importance of building assets for wealth 📈

Stocks and investing of all kinds require lots of initial capital to make any meaningful returns.

A business can be started with \$0. And it's an asset that you can control the value of.

True wealth comes from ownership. Build something that you can own and then grow it— wealth will come.

5. The internet is awesome 🤩

I come from not a lot.

So it's still crazy to me that just by tapping on a keyboard, I could drastically alter my circumstances.

My end goal is generational wealth, and this is a great step in towards that future.