Day 11 of 45: Greed Is Good

1.46pm. So we have feedback on our massive meeting from an inside source close to the main man. We asked our ‘insider’ to investigate his pulse for it. His feedback was that we should “Propose a price.”

Ok. Deep breath. Let’s not get ahead of ourselves. 

Questions – 

What is our price? What would an acquisition mean? What would the future look like?

I hate asking these questions, because until money is in the bank, nothing is guaranteed. Even if we were to get a good offer, legals can have the plug pulled at any moment. It’s important to stay calm.

But I can’t lie; it’s encouraging at least. In someways I think I would be happy for the company to fall now having just heard the words “Propose a Price.” It’s funny how the mind works. I get a sense of achievement in just hearing that phrase.

So what is our price? There is already conjecture on this point. I have made a few calls to advisors –

“1 million”

“I’d say between 5-10.”

“15 million, no questions.”

If I’m being honest, I’m unfortunately not a greedy person (and it helps to be in business). I was asked by a friend… “What do you want from this? Do you want to get rich?.” I just want the company to evolve. I want the company to grow up. I want the company to survive. I want to look after all the people that have been involved to date. And even though I have worked on this non stop for years I strangely care about myself the least. Don’t get me wrong, I want to get by, but I don’t have many desires past that.

There is no way I would be leaving the company. I would need to continue running it, for at least 2/3 years. It’s just the nature of what we do.  I would need to make sure there was the right budget in place to make that work. Could that budget be part of a deal?

I like the idea of wiping out our current early stage investors off the table (because there are too many cooks in the kitchen right now).

So I would be happy with a 3 million sale… and a commitment to invest X amount over 3 years. I would like a stake in the company going forward too. I dunno… something like that.

What do you think?

John Startup



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