Want Your Startup to Get Acquired?
Welcome to the Dave vs. Startups.
Today we’re diving into what actually matters when looking to get your startup acquired.
My brother, Chris, and I just sold our bootstrapped software company.
The biggest surprise:
The price was the easiest part to agree on.
Here's what actually matters in an acquisition (and why most founders get it wrong):
Everyone thinks you fight over the number during an acquisition.
Truth is, you agree on that pretty quickly. Then comes the hard part:
Due diligence.
The most exhausting process I've ever been through.
Picture this:
11 PM on Christmas Eve. I'm on the phone with lawyers discussing deal details.
Because the acquiring company went through EVERY:
Invoice
Contract
Email
Financial record
They left no stone unturned.
I learned this:
If your data is messy, they won't bother buying.
They even sent documents to offices in different time zones to keep reviewing 24/7.
Your systems need to be pristine or the deal dies.
But the biggest shock was the real negotiation wasn't about money.
It was about:
What happens to my customers
Will there be price increases
What about my staff
How long is my earn-out
Also, nobody prepared me for the emotional side.
The day after the sale, I looked at my email.
Empty inbox. No messages.
No team updates.
No customer questions.
Just... nothing.
That identity loss hits HARD.
One day you're the founder everyone needs.
Next day your business is gone along with the team & everything you’ve built.
Seth Godin was right, I wish someone had warned me how it would feel after selling.
Here's what I'd do differently:
Make systems crystal clear
Document everything obsessively
Prepare for intense scrutiny
Build a support network
Plan for the "after" emotionally
And the most important lesson:
Your company needs to run without you.
If you're essential to every operation, you don’t have a sellable business.
You've built yourself a rather demanding job.
A good acquisition isn't just about the price tag.
It's actually more about:
Your customers being taken care of
Your team having opportunities
Your legacy continuing
Build for that, not just the exit.
Thanks for reading!
Dave