MicroAcquire

“And how I found the person that I sold it to was actually first originally listed on micro acquire. Then I was also active in my first million podcasts as well in a community they have on Facebook. And someone just happened to be in London at the same time tha…”

“Originally what I'm getting at is the original idea was a deal flow platform for myself. So I could potentially acquire small SaaS companies. And then if you couldn't find, if I didn't buy it, you could still find a buyer.”

“There were no M&A advisors, I believe, and the last time the acquisition fell through, so it didn't happen.”

“I think it's a great way to test out Entrepreneurship through acquisition. It's kind of in that, you know, 2030, 40 K range is a great sweet spot to find something.”

“We had actually received an offer from someone outside of micro acquire. And I think that's what first got me thinking, oh, actually, potentially I could sell this”

“The smaller transaction of 40,000 US or something like that on microacquire was like, for us, more like a bonus. We didn't expect that. We were about to, I mean, sorry for the person who purchased that, that listens to the podcast, but we were about to shut it…”

“Within seconds, maybe just a couple minutes of listing, I got a few messages, and within a couple hours, the money was in the bank, and it was done at, like, three a.m. It was a very small deal, right? I think it was, like, 1750 dollars, maybe. That was my ask…”

“I put it up and I think within sort of maybe three to four months, I got the first LOIs.”

“One tip for those listening that I've seen work really effectively is kind of recording like a loom as you go live on MicroQuire, just kind of going over the tech stack, common questions, because most buyers have the same questions, like, how are you finding y…”

“I built an app. That was an NFT tracker that would let you publish sales to, like, a Discord channel... Within seconds, maybe just a couple minutes of listing, I got a few messages, and within a couple hours, the money was in the bank, and it was done at, like…”

“I believe the business is north of, you know, two and a half million ARR a year. It has five years of cash in the bank from the money that they've raised. It's profitable.”

“There was one night where like one person sent an LOI out of the blue. And then I got like four more right away.”

“Yeah, and if I remember correctly, I think the number of buyers was about 20 that, you know, had reached out and shown interest, and there was, in the end, there was probably three serious buyers that not only wanted to use the application, but wanted to build…”

“I think we spend almost a hundred hours of our own time just getting the application ready for the transfer.”

“If you're a SaaS company and you have to keep on your contractors or your development team a little longer, like really expect to keep them on through the acquisition and not like cut them before thinking everything's going to go smoothly.”

“We've actually had to turn away some that raised millions of dollars, and the revenue is less than a couple 100,000, and we're just like, I don't know who's gonna buy this. Like, you need to essentially, you know, this is an aqua hire situation.”

“When I decided to build something for micro acquired, I had no idea what was going to be. So it was like, I'm going to spend some time finding a nice problem, solve it build something, and then in the end sold it.”

“You'd be surprised at how many startups we see at Microquire where we look at them and they're really good, but we're like, what do you do? What? So when you see the newsletter, actually, that's usually us. Kind of doing them some help in terms of clearly expl…”

“At the end I sold for three something.”

“Yeah, I would say that's probably the number one reason we see startups not sell on Microquire is when they just price way too high.”

“If you're in line with those valuations, your buyer interest is based on our data. It's like two to three, four times higher.”

“And so I came across UTM link manager and which is a short link short link builder and UTM link builder and really well built product, but I really just wanted to find a company that had terrible marketing or really no marketing at all and take my marketing ex…”

“One of my always, the recommendation I always make if they're looking to do technical due diligence is to have agency or, you know, some Individual that is technical that can help with that side.”

“Definitely, like, ask everyone the same, like, full set of questions, even if the tools are a little bit different. Cause that way, like you're just establishing that baseline. You're able to compare offers or compare companies you know, a more fair way.”

“Having a transition plan laid out in advance is a huge advantage comparative to other founders that may not have that. Because if you're interested in that application, you're wondering what's, what do we do next sometimes? And instead of figuring it out on th…”

“Believe it or not, at this point, we're seeing typically on average, usually two or three acquisitions per day.”

“I think when we first found it on Micro Acquire, it was around just over a thousand dollars MRR and just flat line, no marketing, no presence online.”

“So it was a company called Sunrise KPI, and it, like I said, small acquisition. I think it was like, 10 grand US.”

“I got in a couple of situations on On micro-acquired, I think, one-off, where I didn't end up buying, and this is, again, pre-Stridist, where I submitted a letter of intent, we moved into due diligence, and the seller just was still really unwilling to share m…”

“Some due diligence questions can be you know, tricky, like, hey, send me your entire customer list. The answer to that is no. Scrub it. Send anonymized data.”

“We had been contacted by well over a hundred. We didn't get to meet with everyone by any means. We kind of sifted through... We ended up meeting with probably well over 30 or 40 people.”

“Sometimes it's not just the price that, you know, you, I could tell you got some passion for travel and, you know, you don't want to just sell to someone who's gonna, you know, just destroy or ruin the reputation of the business. So that's something buyers, I …”

“It would have benefited us when we were selling, so we could have sold for a higher price, probably if we had paid attention to that earlier”

“I just have mostly given up on trying to convince people like you could throw them the micro require reports and be like, well, this is what things are transacting at. But if people think their business is worth 10, 20 times ARR, it's just, you know, maybe the…”

“What's exciting to us is, like, more of these companies that are, like, struggling to raise their next round, like these venture orphans. I've seen a few come up on Microquire. I think we're going to see more of those pop up.”

“If you want to create wealth, bootstrap. If you want to change market raise venture because your odds are, I mean Mike requires venture backed. I know my odds. I got a one percent lottery ticket.”

“Just having like those growth opportunities on how you would continue growing this startup with a buyer, I think is a huge selling point because you kind of just give them a roadmap.”

“He has sold, or he has micro acquired five different startups, or have had five different startups micro required.”

“24 hours later, 24 hours after listing on Microquire, not only did I have a few people who were interested in buying, but I actually had my first real offer within 24 hours, which was absolutely insane.”

“I'm trying to kind of build a micro startup studio almost. So it's more like a build to sell model. And using kind of sites like might require to achieve that.”

“And I even recommend sometimes to price lower than you might expect, because then you'll draw on more buyers. There's no, if you have one buyer, you have no buyers. And so if you can get, you know, a bidding war going with a timeline saying, Hey, I'm looking t…”

“Always asked for the buyer to jump on the call if they're interested because anyone who's kicking the tire, anyone who's not interested is not going to go forward because there's a ton of people who might reach out, but at the end of the day, they're not reall…”

“Every time I've listed a startup without fail. There's always that one person who lowballs you with like a 1.5 X multiple or two X multiple. It just says your startup isn't worth what you're asking for. I'll pay you this much. So, so don't fault them. Even if …”

“So last year in July, I built a startup and sold it on microquire within 30 days.”

“It's almost like I can see a future where, you know, people are able to build products specifically to sell them to someone else. And then you get to go back to doing what you love, which is building.”

“That was a good seven figure deal.”

“For MicroRequire, it was actually Ryan Holmes, the CEO of Hootsuite, or now chairman, and I'm kind of a startup nerd, so when that came in, I was like, whoa, like, that's so cool, like, hey Ryan, I hope I don't let you down with MicroRequire. He's now an inves…”

“I don't have a lawyer that does any of this. I do all the legal myself. It's not terribly complicated when I could use your forms off your site, and we all agreed to not touch them and mark them up.”

“And then the other thing I'm looking for is I'm waiting for that like company that raised 30, forty million dollars and now burned through it all, but built an amazing piece of tech to go and micro acquire and sell for a million or two. Like, It's inevitable. …”

“We have a 150,000 registered buyers.”

“From my experience of doing this, of just successful founders like yourself, they all figured out the sales process on their own, and they did not outsource it. They did not hire for it. They grew into it. You know, if you figure it out, you nail it, and then …”

“It's almost like a, in my opinion, a benefit to bring your business forward with, you know, scars and, you Especially, like, growth opportunities, like, hey, I haven't done this, haven't tried this, I tried this, and I failed at this, or this has a, you know w…”

“So I would say for micro acquire, I had like two serious inquiries, and then outside of micro acquire, I had like three serious inquiries,”

“And what you want to do in those situations is I always recommend, you know, make the buyer perform. What I mean is, You know, you have someone inquire about the business. Instead of just granting them access, ask them a question like, hey, do you have experie…”

“And then, you know, I'd say off of that, like, 50% of the people didn't even sign it.”

“This is a definite pattern when we see across successful acquisitions is just preparation, like actually putting some thought and some time into preparing, you know, proper financials, you know, how does marketing work, like all the questions that a buyer is g…”

“Although I sent, like, 250 DMs, ultimately, the buyer came from MicroAcquire”

“Roughly speaking, about 30 or something, like in, in the course of two months, I would say we were in touch with maybe 1516, 17 with them.”

“One piece of advice I always give to sellers is make a buyer work for you, and what I mean by that is you ask them a series of questions like, have you acquired a company before, or in your situation maybe do you have any experience in this space, and they slo…”

“Cause the number one reason that a lot of startups don't sell on microquire is they just priced. 10 X annual recurring revenue. And those multiples are really reserved for when you're at scale. So when you're like at ten million revenue and above, that's when …”