Mark Spera, co-founder of GrowthBar and Growth Marketing Pro, discusses his approach to transitioning into full-time entrepreneurship with Andrew Gazdecki.
0:00 / 0:13exact quote · 13.5s
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“And I actually like, I think it's a great way to build a business is just as a side hustle, because then you can be one foot in the door, one foot out and still make, you know, a paycheck. And get to build something you really love on the side.”
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“So like narrow and deep is great for customer retention and like giving somebody something they can't live without, but For customer acquisition. I actually like the broad”
Mark SperaAug 22, 2023▶ 5:20Startup Acquisition Stories with Mark Spera, Co-founder of GrowthBar
AssertionNot checkable as stated
Spera: GrowthBar was generating $318,000 in annual recurring revenue upon acquisition
“Yeah 318,000 dollars. You asked for a range. I actually, I know what the number was, three 18.”
Mark SperaAug 22, 2023▶ 9:59Startup Acquisition Stories with Mark Spera, Co-founder of GrowthBar
Insight
Spera: Deal momentum is critical, as weekends often derail M&A transactions
“Like, you know, the weekend kills deals.”
Mark SperaAug 22, 2023▶ 19:26Startup Acquisition Stories with Mark Spera, Co-founder of GrowthBar
Insight
Spera: Bootstrapped startups must leverage organic channels against venture-backed competitors
“Organic growth still, particularly for, you know, bootstrap startups, like, you've got to find a way to reduce your customer acquisition costs, because every venture-backed company who you're competing against has enough money to outspend you on, on all the pa…”
Mark SperaAug 22, 2023▶ 24:37Startup Acquisition Stories with Mark Spera, Co-founder of GrowthBar
Disclosure
Spera: GrowthBar rejected a seven-figure acquisition offer due to significant earnouts
“We got one that was a seven figure offer, but it came with a pretty significant earn out. So we ultimately passed on that.”
Mark SperaAug 22, 2023▶ 12:25Startup Acquisition Stories with Mark Spera, Co-founder of GrowthBar
AssertionNot checkable as stated
Spera: Fifty buyers signed NDAs for GrowthBar within 48 hours on Acquire.com
“And we had like 50 people sign a NDA to get into the data room. So it was like, it was a swell of people in the first 48 hours.”
Mark SperaAug 22, 2023▶ 16:49Startup Acquisition Stories with Mark Spera, Co-founder of GrowthBar
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