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Lessons from my first exit
My takeaways from selling TinyPilot
The pool of bootstrapped founders looking for M&A brokers is small and relatively tight-knit, so Quiet Light has natural pressure to maintain a positive reputation. Working through the requirements from the bank and the SBA probably consumed $10k in lawyer time on each side, so even if I accepted a lower price from a cash buyer, I’d make some of it back by reducing closing costs. As we proceeded further into the due diligence process, I needed to create lots of one-off reports to demonstrate different aspects of my business, like how frequently our customers make repeat purchases or which platforms account for what percentage of our revenue.
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