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Show HN: It took 4 years to sell my startup. I wrote a book about it

174 points by zhyan7109

by gbnwl

4 subcomments

I really enjoy the actual content of the few chapters I read so far, but the styling is 100% LLM, and it's so hard to get through multiple pages of the same exact mannerisms repeated over and over and over.
It kind of feels like reading the world's longest LinkedIn post. I really wish this wasn't the case because I really want to take in the story and lessons, but it's literally too fatiguing to get through much in one sitting.

by nubg

2 subcomments

> Every inbound deserves respect, even if you think you’re not ready. Because the truth is, readiness in M&A isn’t a moment—it’s a mindset.
Dear ChatGPT, please rephrase these bulletpoints into a chapter of my book: ...
Pray tell why may we not just read the bulletpoints instead?
Sold your own company, but unable to use your own words?

by einarvollset

3 subcomments

Great content and perspective. I would say (and fair warning, this is obviously biased as I run one of the investment banks that specialize in B2B SaaS M&A between $2-20M ARR - Discretion Capital), this:
"Now should you hire a banker when there is no actionable inbound interest and you have no prior relationships? I would recommend no, as in such a case bankers would typically rely on their network of Corp Devs and present your company to a laundry list of potential companies that likely have nothing to do with your space or business or you have no interest working for."
..is not how a great banker that actually does deals in the revenue size and market you're in would act. I can see how a "too large" a bank where you're small fry, would do this, but eg in my space ($2-20M ARR), the key job of your banker is to reach out to whomever would pay the most for your business, not just their corp dev buddies they happen to have existing relationships with.
That's not easy - there are 1000+ repeat software buyers with various portfolios and all kinds of timing constraints, and that's even before considering true strategics (in my range, the buyer mix is 70% PE or PE owned, 20% strategics and 10% other).
Typically, for a proper process, you'd want to see 100-150 (well sourced and properly targeted) potential acquirers. If they're just sending you to a handful of corp devs then they're not taking your business seriously and you should get another banker.

by oneneptune

0 subcomment

Nice, you fed bullet points into the LLM to make a book. I can stuff your book into an LLM to make bullet points. It's like a wonky non-deterministic hash for both of us to save time and give the author some feel good dopamine at the expense of tokens + authenticity!

by chilipepperhott

0 subcomment

Frankly, it's insulting enough when someone sends me copypasta from ChatGPT in the form of an email. It's even more so when it's a whole book.

by jasonshen

2 subcomments

Really appreciate the deep dive here. M&A is the final boss of startups and so rarely do we get any credible, detailed information about how things go down from the founder's perspective, especially at the 9+ figure deal size. Having written a book about pivots, I know how hard it can be to then distill a grueling experience into something digestible. Thank you Derek!

by tiffanyh

0 subcomment

In case it help others (since it wasn’t apparent to me) … this is about Pixieset acquiring Polarr

by mvkel

0 subcomment

"Built to Sell" is a better book, starting with the premise that your company needs to be positioned to be bought, not sold. If you are reaching out to someone to buy you, you are effectively accepting an 80% price cut.

by nerdsniper

1 subcomments

Does anyone know of any other resources like this for new founders to understand the experiences of experienced founders? This seemed very candid and earnest - it's rare that these don't sound like personal branding pieces. I'd love to build a collection. This one was superb.

by jacob_rezi

4 subcomments

0 subcomment

by DEDLINE

0 subcomment

This is really, really good. I can’t stop reading it. Thank you for writing this.

by mrandish

0 subcomment

As a founder fortunate enough to get to and through a positive acquisition, just reading the chapter outline and clicking into a few I can see there's useful perspective here I wish I'd had. Since the situation is pretty rare there's not a lot of info for founders from founders.
As it was I had to figure it out as it happened. I managed to thread the needle while avoiding any major pitfalls but it was a close thing that easily could have blown up. The difference probably came down to some good luck at the right moment, which isn't a great feeling in retrospect.

by riazrizvi

1 subcomments

Wow. There's some very useful information for me here. I like chapters 5,13,21. Thanks for sharing.

by tomik99

0 subcomment