A weekly podcast by Josh Pigford, founder of Baremetrics, on his journey growing a startup.
Saving you millions of dollars: asset sale vs stock sale
Earlier this year I failed to sell Baremetrics for $5m. But I learned a heaping pile of things from that and one of the biggest things I learned about was the world of asset sales and stock sales.
This is about to get real nerdy but this is crucial if you're trying to sell a company. It could literally save you millions of dollars.
5 things I learned failing to sell Baremetrics for $5m
I failed to sell Baremetrics for $5m. While failure is 100% a part of success, it's only useful if you learn something. So, here are some of the things I learned from this little failure.
Hopefully these are some things you can apply to your own company (present or future) that can save you a bit of pain.
I almost sold Baremetrics for $5m
In the past six years of Baremetrics' existence, I've received dozens upon dozens of emails from folks interested in acquiring Baremetrics. When you're running a transparent company that's growing, it just comes with the territory. Generally these conversations quickly fizzle once they realize I'm not even remotely interested in some quick, 1x revenue sale.
Sunsetting Intros: A post-mortem on shutting down a product we just launched
Intros, a product we launched to great fanfare three months ago, is being shutdown, having never made a single penny and costing our team months of work.
Staying mentally healthy as a founder
Yesterday I wasn't feeling great, mentally. I had a level of anxiety I hadn't felt in a long time that started in the morning and really persisted through the night. I can't pinpoint it to any one specific thing. It was more the sum of a dozen small things. I felt like I hadn't been leading the team well through a big product change, parenting has been taxing lately, I was second guessing all sorts of life decisions, the things that typically bring me joy day in and out have just felt really uninteresting and on top of that, the weather yesterday was dark and stormy...which perfectly matched how my brain felt.
Why founders need hobbies
As founders, a lot of our identities get wrapped up in our companies. Certainly within our industries, but even to family and friends it’s how people know us. And over time, we sort of become our companies. Most founders or CEOs are the “face” of their businesses and eventually they’re inseparable. Being wholly consumed by your company hurts not only you and the people around you, but even the company itself.
Quick listen, actionable insights
I love the format of Founder's Journey. Since it exists as a written blog and a podcast, I can listen to Josh's insights while I'm working or driving and circle back to the blog posts to review and share with my coworkers. The topics are of a manageable scope and therefore very easy to grok. Thanks, Josh!
Excellent Advice From A Real-World Personality
Josh is very knowloedgable about a number of topics regarding entrepreneurship and SaaS. It is great to hear about some of his experiences and failers and to learn from them. Plus Josh has a down-to-earth personality - someone you would want to get a beer with.
New Listener - Enjoying So Far
I like how it has some longer episodes and shorter ones to listen to. That gives me flexibility to listen when I can. I also enjoy how each episode he has a closing remark/line that really seems to very easily tie the episode together very neatly and have it all make sense.