1
0 Comments

Why I did NOT sell my $55,000/month SaaS

Last year, I was near an exit for my SaaS.

TLDR; I'm glad I didn't.

Shared my lessons in today's video at:
https://www.youtube.com/watch?v=p8GGgAyidsk

If you don't want to watch, here are my 3 takeaways:

  1. ALWAYS sign an NDA with everyone you're working with (from employees to contractors). At some point, investors will ask for it.

Free Notion template for you all at:
https://mikestrives.notion.site/NDA-faf91538617f498aa3349a43020d8b80?pvs=4

  1. Also ALWAYS sign IP waivers with everyone that's working on the code (employees, contractors, freelancers, etc.) HUGE bottleneck if you don't.

Free Notion template for you all:
https://mikestrives.notion.site/Freelance-Developer-Agreement-with-IP-9e7efa0e72d7460dbe035e89bac0fbbd?pvs=4

But my biggest takeaway...

If you're thinking about selling, go and draft up your business offer. Write everything down that you want to share with a potential buyer.

Then... go to sleep.

Wake up.

Grab a coffee.

Read your document.

See if you still want to sell when you realize you have a pretty good thing going on.

on November 4, 2024