173: Build a Defensible Indie Business
The Bootstrapped Founder
12/16/22
•14m
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When it comes to selling a small indie business, defensibility is a key factor that potential buyers will consider. A unique moat, or competitive advantage, lets your business stands out from the competition and is seen as a valuable acquisition.
Many small founders sell their businesses because they want to get rid of them, and that attracts bargain hunters. It’s easy to negotiate a founder down when they feel pressure to sell a business that’s not very stable or profitable in the first place.
Being able to show that potential competitors have to climb a rather sizeable barrier to entry into your market will net you a significant premium when it’s valuation time. The absence of such a moat around your entrepreneurial castle will push down the price you can ask for. While buyers will still acquire profitable businesses without an oversized advantage, it’s a good idea to consider how you can set up a moat around your business. It will make things much easier.
- Build a Defensible Indie Business
- Find your Following, my Twitter course — now with Find your Following Essentials, the 7-day Twitter crash course
- Zero to Sold & The Embedded Entrepreneur, my books on entrepreneurship
This episode is sponsored by MicroAcquire.
Previous Episode
172: Andrew Gazdecki — Building a Sellable Business
December 14, 2022
•56m
Today, I am talking to Andrew Gazdecki, a pillar of the founder community and himself founder of the acquisition platform formerly known as MicroAcquire — but we’ll learn more about that on the show. Besides organizing millions of dollars worth of acquisitions every month, Andrew is a true teacher. His content on building software businesses is spectacularly useful. And fortunately, he will share a lot of it with us today.
00:00:00 Introduction
00:00:54 Founder and personality
00:04:19 MicroAcquire: the first venture
00:09:51 On being relatable
00:13:42 From B2B to Human2Humman
00:20:10 What was missing in the market?
00:27:07 What makes a business more sellable?
00:32:14 Tips for selling your business
00:39:07 Working in the business vs. working on the business
00:46:47 You can’t succeed without failure
00:52:59 Any exit, no matter how small, is a good step
This episode is sponsored by MicroAcquire.
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[Bonus] Sahil Lavingia — Gumroad’s Pricing Disaster
December 20, 2022
•66m
Yesterday, the creator economy learned that Gumroad, a platform where creators have been building their businesses by selling their services and products, increased their prices significantly. That caused a lot of backlash in the community, with people threatening to switch to other platforms and criticizing how the price hike was communicated. It’s been an intense topic of community discussion.
Today, I am talking to Sahil, the CEO of Gumroad, about what prompted this change, what happened to cause such a stir, and where Gumroad is heading in the future. Here’s Sahil.
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