Focus on offering an end-to-end solution instead of just software. The true value comes from solving the complete problem for the user, not from selling tools.
The end-to-end solution is really what made the business work. We are going to be your bookkeeper, your finance team, rather than sell you software.
Do not agonize over theoretical existential threats. Focus on what really matters to the business, since most concerns never materialize into real impact.
I try to have a better sense of what is actually important. We were so worried about all of the stuff that we thought represented an existential threat but in practice literally zero of those things m…
Evaluate funding based on your real objectives. The Silicon Valley narrative of 'VC or nothing' is false; for most businesses, bootstrapping or modest financing is more viable than pursuing venture capital.
There's a very pervasive and harmful narrative in Silicon Valley that the VC way is the only way to do it. I actually think the VC way is the unnecessarily difficult or hard way.
In an acquisition, prioritize strategic and cultural fit with the buyer over maximum dollar value. A good fit creates far more value through the subsequent relationship than the initial purchase price.
Look at the acquisition as the start of a new relationship, not the end of something.
Keep your communication short, specific, and with a clear call-to-action. This dramatically increases your chances of receiving responses from busy people.
Craft something that is really short, that is to the point, and that has a very crisp and clear call-to-action at the end of the email. Ideally the call-to-action is as easy to respond to as possible.
