8
32 Comments

Should I sell?

Hey All -

Wanted to get some advice. One of my projects GPT Hotline has been doing well (for me). I'm making close to $500 MRR. After stalling at $150 for a while, I somehow got a nice big surge of interest in March with the monthly growth rate almost 150%.

The thing is I suck at marketing and am more excited about building new things. Should I sell it to someone who can scale it and move on or focus on growing this?

What would you say I should sell this for if I go down that path?

Appreciate any advice.

Bilal

The Product => https://www.gpthotline.com/

posted to Icon for group Growth
Growth
on March 30, 2023
  1. 4

    Selling the project is definitely an option if you're not interested in marketing and scaling it.

    However, you should consider whether you're ready to let go of a project that has shown such promising results.

    (Speaking this from experience I sold one of my bootstrapped startup for 2million)

    As for the value of your project, it's difficult to determine without more information about your revenue streams and customer base.

    You could consider consulting a business broker or doing some research on comparable sales to get a better idea of what your project might be worth.

    Ultimately, the decision to sell or focus on growing the project is up to you. Consider your long-term goals and passions before making a decision.

    Best of luck

    1. 2

      Thanks!

      These are solid points. I definitely need to do more due diligence as well as dig deep and understand my goals and motivations.

      I think partly I want to sell cause I'm anxious that the revenue might dry up / I might run into issues even though it's more in my head than based on any real data lol.

  2. 3

    Well, that depends on how you want your life's next few quarters to go. If you sell, it is no longer your problem. If you don't sell and decide to scale then all that work that goes in is your problem.

  3. 2

    You're in early.
    Don't sell it.
    Listen to customers and grow it.

    Take a break for a while if you're stressed and come back fresh and recharged.

    This is my opinion.

    1. 1

      Well said - yeah gonna keep at it for a bit.

  4. 2

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  5. 1

    How about partnering with a Marketing mastermind so you can focus on making the product better?

    1. 1

      maybe ;)

      but they're usually all talk and can't deliver results

  6. 1

    Here is an unpopular opinion. Marketing is unavoidable.

    Regardless of what you build, where you go, and whether you love or hate a project, you can never get around marketing it.

    Whether that be doing it yourself or teaming up/hiring someone to do it for you.

    I would highly recommend figuring out how to market this product in some capacity because once you go on to the next thing it will be an invaluable skill to have in your arsenal.

    Hope this helps! Wishing you the best :)

    1. 1

      True! Thanks for the advice...I do need to just get better at marketing.

  7. 1

    I really like your project! I cannot give you any advice, but I would like to ask if you know how to go about selling a project like yours? Are there any brokers involved?

  8. 1

    If I'd be at your place, I'd consider to sell only if I feel that I cannot do more the for product. If you have another project that interests you more, then probably sell. Btw, what platform will you use to sell it? If you consider selling GPT Hotline

  9. 1

    How much? I will make an offer.

    1. 1

      Thanks haha - I think I'm gonna keep at it for a bit :)

      1. 1

        If you change your mind, I would also ve interested in knowing more about the pricing.

  10. 1

    I think if your heart isn't in it then someone else is going to come along with the same idea and eventually it might just die regardless. My feeling is that you should sell, and maybe you'll find a buyer that will let you take a minority stake or offer some options in their company as part of the payment. At least that way you'd potentially see some upside further down the line from the future success the buyer may have with your idea.

  11. 1

    @bilal, if I were you I would still try to scale.

    Selling a company is not easy at all. Especially when you are in the early stages. My guess is your valuation is going to be low enough you wouldn't be too stoked on selling.

    A few questions: Do you know what churn is right now? Churn is one of the biggest metrics potential buyers are going to look at.

    Do you know what Cost to Acquire a customer is?

    How about annual revenue per user (ARPU)?

    1. 1

      These are good questions I will have a better answer for hopefully once a stable MRR is reached. Thanks!

      1. 2

        Got ya. I have found finding the answers to those questions using marketing is pretty expensive. It takes a while to get your cost to acquire low.

        Best of luck in your journey!

  12. 1

    You love building new things, so have any of your other projects made money? If so, then sell, rinse, repeat. But I feel like a lot of people struggle to get sales going initially, so personally, I would keep it, figure out what triggered the bump then capitalize on that. You can hire out marketing as well if that is not your forte.

    1. 1

      You're right about that...that's why I think I need to give this the opportunity to grow.

  13. 1

    Hi there! It really depends on your personal goals and priorities. Are you looking to make a profit, or are you more interested in pursuing your passion? Selling your project could potentially bring in a nice sum of money, but it also means giving up ownership and control. On the other hand, keeping the project could allow you to continue growing and improving it on your own terms. Ultimately, the decision is yours to make based on what's most important to you. Good luck with whatever you choose!

  14. 1

    Hey Bilal,

    It depends on what you want to do with your life.

    If you want to be an entrepreneur, you've got to stick with it. You're never going to build a successful business if you keep dropping things as soon as they aren't new.

    If you need help marketing - I've got an entire strategy outlined on my website here: www.thebluntmethod.com

    But, if you're happy just building new things and don't really care about building a business then by all means drop it and move on to something else. Nobody needs to be an entrepreneur.

    Best

    Chris

  15. 1

    In my opinion, you have made an excellent assistant for WhatsApp. You can put in more work and later sell it at a good value. Marketing may be a little challenging, but it will help you grow your this and new project.

    1. 1

      Thank you! Yes you're right I just gotta suck it up and give it a proper go. :)

  16. 1

    This comment was deleted 3 years ago.

  17. 1

    This comment was deleted 2 years ago.

    1. 1

      Not sure - but yeah likely nothing life changing which is why i think I'll just keep at it.

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