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Tag: Selling a business
A “micro” is any business that turns over less than $250K a year, so the business I sold this week most definitely falls into that category! Instagram, it was not. So, in celebration of the HUGE gap between the sale price of my business and how much Instagram's Kevin Systrom made last week, here are three things I learnt from selling my micro-business.
While most new technology developers will spend months chasing down angel investors and cold calling VCs, often with the randomness of a headless chook, without too much planning or forethought (much to the potential investor's frustration), sometimes the safest money is already right under their noses. It's called 'strategic capital' or 'smart money' (or a mix of the two).