Eran Galperin

It's surprisingly a large feeling of relief. It was the end of a very grueling, even though not long, maybe in comparative terms, but for me, long process of three months where basically every day I doubted that this would actually end up well. And many times, as sort of a psychological trick, I would kind of let myself feel, so what if it falls apart? It's all good.

It's surprisingly a large feeling of relief. It was the end of a very grueling, even though not long, maybe in comparative terms, but for me, long process of three months where basically every day I doubted that this would actually end up well. And many times, as sort of a psychological trick, I would kind of let myself feel, so what if it falls apart? It's all good.

And when the money actually hit the bank account, actually, it happened very fast. We closed the deal on a Friday, 30 minutes before the wire cut off time. And the funds were in the bank account the same day. I did not expect that before the weekend. And I'm just like, I guess it's over. I guess it's done. I can have a real night's sleep today and maybe the entire weekend.

And when the money actually hit the bank account, actually, it happened very fast. We closed the deal on a Friday, 30 minutes before the wire cut off time. And the funds were in the bank account the same day. I did not expect that before the weekend. And I'm just like, I guess it's over. I guess it's done. I can have a real night's sleep today and maybe the entire weekend.

And I literally slept like 14 hours a day for the entire weekend. That made me just a massive feeling of relief. Like all this weight just washed down.

And I literally slept like 14 hours a day for the entire weekend. That made me just a massive feeling of relief. Like all this weight just washed down.

It's kind of a mix of both. So I didn't really have an idea for things to buy, but I already had in my head a financial plan of how I'm going to deploy this. I'm a proponent of the FHIR methodology, if you heard of it. Financial independence retire early, and it basically revolves around investing in fund indexes that return a very stable amount every year.

It's kind of a mix of both. So I didn't really have an idea for things to buy, but I already had in my head a financial plan of how I'm going to deploy this. I'm a proponent of the FHIR methodology, if you heard of it. Financial independence retire early, and it basically revolves around investing in fund indexes that return a very stable amount every year.

And with this amount of money, I'm basically set for life if I follow this approach. So I knew I was going to do that. I ended up upgrading my car to basically the same model, but newer and higher trim. because I really like that car. And now we're in the process of, we bought a piece of land here in Tokyo where I live, and we're building a house on it. So that's super exciting.

And with this amount of money, I'm basically set for life if I follow this approach. So I knew I was going to do that. I ended up upgrading my car to basically the same model, but newer and higher trim. because I really like that car. And now we're in the process of, we bought a piece of land here in Tokyo where I live, and we're building a house on it. So that's super exciting.

Not something that I actually planned, but like a month after the sale was completed, it's like, you know what, we should start looking into it. And we're now in the process. Yeah, those are the major things.

Not something that I actually planned, but like a month after the sale was completed, it's like, you know what, we should start looking into it. And we're now in the process. Yeah, those are the major things.

So now I have an Audi RS3 for people who are into that kind of stuff. It's a nice car. It's still compact, which fits with the very narrow streets of Tokyo. But it's just a slight upgrade from the previous car, which was an S3. Basically exactly the same car on the inside, but a small upgrade that I felt like was well-deserved.

So now I have an Audi RS3 for people who are into that kind of stuff. It's a nice car. It's still compact, which fits with the very narrow streets of Tokyo. But it's just a slight upgrade from the previous car, which was an S3. Basically exactly the same car on the inside, but a small upgrade that I felt like was well-deserved.

Yeah, so our investor is a private equity firm, and they did a majority acquisition of the company. They bought the majority stake of the company. I'm left with a minority stake in it, and some of the funds are going to be used to grow the company. The majority of it is for them to acquire the controlling stake of the company, and this is what the amount that is on the public statement is for.

Yeah, so our investor is a private equity firm, and they did a majority acquisition of the company. They bought the majority stake of the company. I'm left with a minority stake in it, and some of the funds are going to be used to grow the company. The majority of it is for them to acquire the controlling stake of the company, and this is what the amount that is on the public statement is for.

Most of our customers just refer to us as MA on Rails or just MAOR for some reason. I hated that acronym, but a lot of them used it and I just ran with it. So yeah, at the time, I just winded down a previous company, a VC-backed company called BinPress that raised a seed round and just didn't grow enough to raise another round. And I was kind of burnt out on the VC model.

Most of our customers just refer to us as MA on Rails or just MAOR for some reason. I hated that acronym, but a lot of them used it and I just ran with it. So yeah, at the time, I just winded down a previous company, a VC-backed company called BinPress that raised a seed round and just didn't grow enough to raise another round. And I was kind of burnt out on the VC model.

I felt that company had potential But because it didn't fit the VC timeline, it had to shut down. So I wanted to go in a different direction. Me and my co-founder kind of split paths. He moved to the dark side and became a VC partner. And I started a bootstrap company back then that was called Martial Arts on Rails.

I felt that company had potential But because it didn't fit the VC timeline, it had to shut down. So I wanted to go in a different direction. Me and my co-founder kind of split paths. He moved to the dark side and became a VC partner. And I started a bootstrap company back then that was called Martial Arts on Rails.

I wanted to combine my hobby of many years, which was training in Brazilian jiu-jitsu, nine years at the time, with my professional skills in software development. I did a lot of market research. Initially, I kind of tried avoiding going into the vertical we ended up going in, which is business management software. Because there's some very entrenched players in this space.

I wanted to combine my hobby of many years, which was training in Brazilian jiu-jitsu, nine years at the time, with my professional skills in software development. I did a lot of market research. Initially, I kind of tried avoiding going into the vertical we ended up going in, which is business management software. Because there's some very entrenched players in this space.

Now I know that that's actually an advantage. They do a lot of the customer education for us. There's obviously a lot of potential revenue to be had because they're so big. But back then it looked very intimidating. Eventually, I did decide to go that route just because everybody I talked to in this space said the current incumbents were just so awful.

Now I know that that's actually an advantage. They do a lot of the customer education for us. There's obviously a lot of potential revenue to be had because they're so big. But back then it looked very intimidating. Eventually, I did decide to go that route just because everybody I talked to in this space said the current incumbents were just so awful.

So I don't want to name any names, but anybody in this space knows exactly who they are. And I felt with my experience in user experience and software development, I could bring something better to the market. We launched in 2016, and me being a technical founder in every stop previously, I was the CTO or some kind of engineering leader.

So I don't want to name any names, but anybody in this space knows exactly who they are. And I felt with my experience in user experience and software development, I could bring something better to the market. We launched in 2016, and me being a technical founder in every stop previously, I was the CTO or some kind of engineering leader.

I quickly realized that I had zero idea on how to acquire customers. And so began this kind of slow trial from zero to a livable wage over the course of three and a half years, during which I got a full-time job as initially a software engineer and eventually a CTO of an e-commerce company in LA. And only in 2019, I started working full time on the business.

I quickly realized that I had zero idea on how to acquire customers. And so began this kind of slow trial from zero to a livable wage over the course of three and a half years, during which I got a full-time job as initially a software engineer and eventually a CTO of an e-commerce company in LA. And only in 2019, I started working full time on the business.

It was actually, it didn't feel quick to me. The last couple of years kind of went in a blur when we were growing pretty fast every year. But the first five were a slog for sure. Yeah.

It was actually, it didn't feel quick to me. The last couple of years kind of went in a blur when we were growing pretty fast every year. But the first five were a slog for sure. Yeah.

Yeah, I was around 35K. And by the time the program started, already 40. And I remember having chats with some of the founders and the meetup we had in Arizona. And they're like, you're at 40K. Why did you join TinySeed? And I had a different calculation than them in my mind because I had the same kind of dilemma when I was thinking about applying. It's like, we're doing pretty well.

Yeah, I was around 35K. And by the time the program started, already 40. And I remember having chats with some of the founders and the meetup we had in Arizona. And they're like, you're at 40K. Why did you join TinySeed? And I had a different calculation than them in my mind because I had the same kind of dilemma when I was thinking about applying. It's like, we're doing pretty well.

What can I get from TinySeed that I can't get by myself? And the framework that I use is if TinySeed helps increase the value of the company by more than the equity that they take, which was 10%, then it's worth it. And it ended up being... way worth it.

What can I get from TinySeed that I can't get by myself? And the framework that I use is if TinySeed helps increase the value of the company by more than the equity that they take, which was 10%, then it's worth it. And it ended up being... way worth it.

So I think in that regard, it doesn't matter that we were at 35 because we came in from maybe different reasons than some of the other companies in the batch.

So I think in that regard, it doesn't matter that we were at 35 because we came in from maybe different reasons than some of the other companies in the batch.

A lot of it, well, it started with me following your content and startups for the rest of us, right? You know, I've talked to many investors. And I can tell when somebody actually knows what they're talking about. They're not just repeating stuff they read on somebody else's blog, listened to on a podcast. which is the case with a lot of the investors that I see.

A lot of it, well, it started with me following your content and startups for the rest of us, right? You know, I've talked to many investors. And I can tell when somebody actually knows what they're talking about. They're not just repeating stuff they read on somebody else's blog, listened to on a podcast. which is the case with a lot of the investors that I see.

And I was coming in to get that kind of advice one-on-one. This is my first company that I'm building Bootstrap. First company that I got to a certain scale that I haven't been able to at previous companies. And I'm going into a lot of uncharted territory. I remember that we had pricing realignment engagement together. Me and you sat together and talked it over.

And I was coming in to get that kind of advice one-on-one. This is my first company that I'm building Bootstrap. First company that I got to a certain scale that I haven't been able to at previous companies. And I'm going into a lot of uncharted territory. I remember that we had pricing realignment engagement together. Me and you sat together and talked it over.

That was a very scary process for me. We had a lot of, you know, long-term customers and I'm about to really ramp up the pricing on them. And it helps so much that I can do it with somebody that already ran this playbook. Also seen it fail at Amazon. other companies, even your own after acquisition, I guess.

That was a very scary process for me. We had a lot of, you know, long-term customers and I'm about to really ramp up the pricing on them. And it helps so much that I can do it with somebody that already ran this playbook. Also seen it fail at Amazon. other companies, even your own after acquisition, I guess.

That really helped me do this confidently and it went super well and actually kick-started the next upward strand in our revenue growth. And there were multiple such instances. This is the main reason that I joined TinySeed.

That really helped me do this confidently and it went super well and actually kick-started the next upward strand in our revenue growth. And there were multiple such instances. This is the main reason that I joined TinySeed.

I think I can tell pretty accurately why we succeeded, and it's because we went against what everybody else in the market is doing. So we have the 900-pound gorilla, like you mentioned, and a lot of the similar competitors kind of copied our playbook. They have a product, and I think this has come in a lot of B2B verticals, that is very outdated and difficult to use.

I think I can tell pretty accurately why we succeeded, and it's because we went against what everybody else in the market is doing. So we have the 900-pound gorilla, like you mentioned, and a lot of the similar competitors kind of copied our playbook. They have a product, and I think this has come in a lot of B2B verticals, that is very outdated and difficult to use.

I guess the thinking is that business software doesn't need to be accessible or easy to use, and they just have a very strong sales motion. And a lot of our other competitors are pretty much the same. I mean, their products... started at different points in time. So you can kind of tell, oh, this one is from 08, this one is from 2011, but they never bothered updating it afterwards.

I guess the thinking is that business software doesn't need to be accessible or easy to use, and they just have a very strong sales motion. And a lot of our other competitors are pretty much the same. I mean, their products... started at different points in time. So you can kind of tell, oh, this one is from 08, this one is from 2011, but they never bothered updating it afterwards.

When I started Gym Desk without any sales knowledge, the only thing I can do was just talk to customers and make the product better. I myself went through a transformation with this company where I used to be that technical person, that engineering lead that you would come to with customer complaints. And it's like, yeah, they're using it wrong. They're not very smart.

When I started Gym Desk without any sales knowledge, the only thing I can do was just talk to customers and make the product better. I myself went through a transformation with this company where I used to be that technical person, that engineering lead that you would come to with customer complaints. And it's like, yeah, they're using it wrong. They're not very smart.

I would say mean things like that. And with this product, I kind of realized it's actually the opposite. The dumber the feedback looks like, the more opportunity there is to make the product better. And I really took that to heart and through this endless feedback loop, made a product that just makes everything so much easier than our competitors.

I would say mean things like that. And with this product, I kind of realized it's actually the opposite. The dumber the feedback looks like, the more opportunity there is to make the product better. And I really took that to heart and through this endless feedback loop, made a product that just makes everything so much easier than our competitors.

We might have a similar feature set, but the way those features and flows are implemented is completely different. And this is where I feel we really made our first kind of differentiation in the market. The other side of it is with the customer service. So anybody who works with me knows how responsive I am to emails.

We might have a similar feature set, but the way those features and flows are implemented is completely different. And this is where I feel we really made our first kind of differentiation in the market. The other side of it is with the customer service. So anybody who works with me knows how responsive I am to emails.

And it was the same with customers in the early going when I was the only one talking to them. And when I started hiring for customer service, I made sure that we stayed with that mentality. Somebody sends a report that something is not working, we have to get back to them as early as possible and resolve it as quickly as possible.

And it was the same with customers in the early going when I was the only one talking to them. And when I started hiring for customer service, I made sure that we stayed with that mentality. Somebody sends a report that something is not working, we have to get back to them as early as possible and resolve it as quickly as possible.

not just issues, but also small feature requests where it seems like it's a no-brainer, we would roll those out sometimes the same day. You can find reviews of us on Keptera and other websites where the guy is like, yeah, I message customer service, I talk to the CEO, and on the same day I get a new feature that solves our use case. And you can't beat that kind of experience.

not just issues, but also small feature requests where it seems like it's a no-brainer, we would roll those out sometimes the same day. You can find reviews of us on Keptera and other websites where the guy is like, yeah, I message customer service, I talk to the CEO, and on the same day I get a new feature that solves our use case. And you can't beat that kind of experience.

So this is how we kind of build our brand in this space.

So this is how we kind of build our brand in this space.

I'm 100% optimized for self-serve. So it's maybe a bit ridiculous, but in the early days, I actually refused doing demos. I just hate getting on video calls with people I don't know. And people would email in, I want the demo. It's like, yeah, we don't do that. I'll be happy to answer your questions over email, which is the medium I'm comfortable with.

I'm 100% optimized for self-serve. So it's maybe a bit ridiculous, but in the early days, I actually refused doing demos. I just hate getting on video calls with people I don't know. And people would email in, I want the demo. It's like, yeah, we don't do that. I'll be happy to answer your questions over email, which is the medium I'm comfortable with.

But yeah, for years, we just didn't do any demos. We do do demos now. We have a full team. They help with onboarding. But because we didn't have any demos and none of that motion at all, I really had to make the product shine in those aspects, right?

But yeah, for years, we just didn't do any demos. We do do demos now. We have a full team. They help with onboarding. But because we didn't have any demos and none of that motion at all, I really had to make the product shine in those aspects, right?

So every time people would say, oh, I can't do this in onboarding, it's like, okay, let me go back to the product and fix it like that instead of getting on a call and explaining to you how to do it.

So every time people would say, oh, I can't do this in onboarding, it's like, okay, let me go back to the product and fix it like that instead of getting on a call and explaining to you how to do it.

Yeah. I mean, that's definitely the part of building this company that took me the longest to figure out. I do have some background in writing. So I have written a lot over the years, mostly technical writing, but eventually moved into, I wrote about startups, going through accelerators, stuff like that. So I had that in my back pocket. Also some experience with technical SEO and

Yeah. I mean, that's definitely the part of building this company that took me the longest to figure out. I do have some background in writing. So I have written a lot over the years, mostly technical writing, but eventually moved into, I wrote about startups, going through accelerators, stuff like that. So I had that in my back pocket. Also some experience with technical SEO and

So I thought for sure with SEO, I could drive some leads to the product. Turns out that was also naive. It took me quite a while to figure out the SEO for this company. But now I have such a good handle on it that I advise other SaaS companies on this particular topic. I just had a call with one of the tiny seed companies where I analyzed their entire SEO structure and gave them actionable items.

So I thought for sure with SEO, I could drive some leads to the product. Turns out that was also naive. It took me quite a while to figure out the SEO for this company. But now I have such a good handle on it that I advise other SaaS companies on this particular topic. I just had a call with one of the tiny seed companies where I analyzed their entire SEO structure and gave them actionable items.

It just... This is one of the things, it's not like this with every marketing channel. Maybe it is, I haven't figured it out yet. But specifically with organic traffic, you can approach it almost like an engineering challenge and kind of really figure out a plan to attack it. And we built a really structured, repeatable process there to expand and also retain the land that we acquire in SEO.

It just... This is one of the things, it's not like this with every marketing channel. Maybe it is, I haven't figured it out yet. But specifically with organic traffic, you can approach it almost like an engineering challenge and kind of really figure out a plan to attack it. And we built a really structured, repeatable process there to expand and also retain the land that we acquire in SEO.

Because to keep your rankings it's very difficult in a competitive market it took me i want to say five years to really figure that out in 2021 when we hired the first full-time employee that was a content marketing editor because i knew this is our strongest channel And this is our best writer. And I want to just keep investing in this channel. And it paid off.

Because to keep your rankings it's very difficult in a competitive market it took me i want to say five years to really figure that out in 2021 when we hired the first full-time employee that was a content marketing editor because i knew this is our strongest channel And this is our best writer. And I want to just keep investing in this channel. And it paid off.

We still drive most of our leads through SEO. I think it's over 60, 70% of our leads come through that channel. And they're all extremely qualified leads. It's a channel with a lot of buying intent. So yeah, it's definitely something I had to work on. But just persistence, like with everything else, trying and failing, trying and failing and figuring it out. That's how we did it.

We still drive most of our leads through SEO. I think it's over 60, 70% of our leads come through that channel. And they're all extremely qualified leads. It's a channel with a lot of buying intent. So yeah, it's definitely something I had to work on. But just persistence, like with everything else, trying and failing, trying and failing and figuring it out. That's how we did it.

I follow some people on Twitter that literally what they do is they build a tiny SaaS product and they give it a couple months and then they sell it for peanuts on microacquire.com. I think it's just acquire.com now. And just move on to the next. And they keep hoping that one of those will blow up. But that's not how it works.

I follow some people on Twitter that literally what they do is they build a tiny SaaS product and they give it a couple months and then they sell it for peanuts on microacquire.com. I think it's just acquire.com now. And just move on to the next. And they keep hoping that one of those will blow up. But that's not how it works.

If you're going to only stay with it for a few months, it's never going to happen.

If you're going to only stay with it for a few months, it's never going to happen.

When it started, I initially, first of all, the language that they use in a lot of this inbound is very vague. I didn't think it was about buying the company. I thought it was venture investment, basically. They talk about growth equity, like we said at the beginning. At that time, I didn't know exactly what that meant. It's like, oh, are you interested in growth investment into your company?

When it started, I initially, first of all, the language that they use in a lot of this inbound is very vague. I didn't think it was about buying the company. I thought it was venture investment, basically. They talk about growth equity, like we said at the beginning. At that time, I didn't know exactly what that meant. It's like, oh, are you interested in growth investment into your company?

I'm like, no, you know, I'm bootstrapped. Not interested in that. Eventually, one of them actually used direct language. And I'm like, okay, interesting. I think we're too small, but let's talk and see where it's at. And we were too small at that time, but I started to get a sense of how things might go.

I'm like, no, you know, I'm bootstrapped. Not interested in that. Eventually, one of them actually used direct language. And I'm like, okay, interesting. I think we're too small, but let's talk and see where it's at. And we were too small at that time, but I started to get a sense of how things might go.

And between 2021 and 2023, I must have taken close to 40 calls with different private investors, search funds, all sorts of different constellations. And I really got a pretty good lay of the land as to what a potential outcome might look like and at what revenue numbers it would make sense to sell. And I started having this kind of mental funnel in my head.

And between 2021 and 2023, I must have taken close to 40 calls with different private investors, search funds, all sorts of different constellations. And I really got a pretty good lay of the land as to what a potential outcome might look like and at what revenue numbers it would make sense to sell. And I started having this kind of mental funnel in my head.

It's like, okay, if we hit those benchmarks, maybe it's time to start thinking about running a process.

It's like, okay, if we hit those benchmarks, maybe it's time to start thinking about running a process.

That's definitely an option. And some people do this, but I started to feel some burnout. Even in 2021, I ran the company with a bootstrappers mindset, always hiring maybe a couple of steps later than I really should have because I'm optimizing for profits. It's really hard to disconnect the revenue going into the company from your own finances, right?

That's definitely an option. And some people do this, but I started to feel some burnout. Even in 2021, I ran the company with a bootstrappers mindset, always hiring maybe a couple of steps later than I really should have because I'm optimizing for profits. It's really hard to disconnect the revenue going into the company from your own finances, right?

At the end of the day, anything that's left over in the company is your revenue personally. And I was doing a lot, just maybe doing too much. I was feeling burnout. And at some point, it's like, you know what? I would be happy to take a step back and let somebody else run the company.

At the end of the day, anything that's left over in the company is your revenue personally. And I was doing a lot, just maybe doing too much. I was feeling burnout. And at some point, it's like, you know what? I would be happy to take a step back and let somebody else run the company.

There's also, you know, when you're at a smaller scale and you self-select for the customers, everybody is nice and it's a pleasure to work with. But as you hit a certain scale, the small percentage of people that, I can't think of a better word, just nasty people, and you have to deal with them,

There's also, you know, when you're at a smaller scale and you self-select for the customers, everybody is nice and it's a pleasure to work with. But as you hit a certain scale, the small percentage of people that, I can't think of a better word, just nasty people, and you have to deal with them,

And it gets to the point, those people are above the level of even, you know, a full time customer service person to handle. It leaves a dent in you. You know, it always feels like they're going to ruin your company's reputation. We had people like trash us and all the social media channels for the pettiest stuff. I have stories that just make my blood boil when I think about it.

And it gets to the point, those people are above the level of even, you know, a full time customer service person to handle. It leaves a dent in you. You know, it always feels like they're going to ruin your company's reputation. We had people like trash us and all the social media channels for the pettiest stuff. I have stories that just make my blood boil when I think about it.

And it's like, I just don't. want to deal with it. There's this emotional connection as a founder CEO that maybe a professional CEO would not have because they didn't build the company. They don't feel it in their bones when somebody is just saying nasty things about them online. And yeah, I just wanted to kind of remove myself a little bit from that.

And it's like, I just don't. want to deal with it. There's this emotional connection as a founder CEO that maybe a professional CEO would not have because they didn't build the company. They don't feel it in their bones when somebody is just saying nasty things about them online. And yeah, I just wanted to kind of remove myself a little bit from that.

So because we received so much inbound interest, I did really have a lot of insight into where an optimal result might happen. And it did seem to really funnel around female in an ARR. That's where a lot of the bigger players that can actually pay the big multiples start getting interested. At the lower ARR, it's... There's definitely interest, but people would try for bargain.

So because we received so much inbound interest, I did really have a lot of insight into where an optimal result might happen. And it did seem to really funnel around female in an ARR. That's where a lot of the bigger players that can actually pay the big multiples start getting interested. At the lower ARR, it's... There's definitely interest, but people would try for bargain.

The multiples are lower. The terms are not as good. And I saw a very direct line to that number. With our growth numbers, I was running this kind of projection P&L where If we continue at the same pace that we've been growing and add a little bit to it every few months, and it ended up being almost to the dollar accurate all the way up to 3 million.

The multiples are lower. The terms are not as good. And I saw a very direct line to that number. With our growth numbers, I was running this kind of projection P&L where If we continue at the same pace that we've been growing and add a little bit to it every few months, and it ended up being almost to the dollar accurate all the way up to 3 million.

So as long as I was continuing with the trend that I built there, I'm like, you know what? I'm good. I don't need to sell now unless I see like crazy warning signs. And by the way, those crazy customers, those were the warning signs. Like, is this it? Is this where I'm like taking a... Tumbled down the death row for the company.

So as long as I was continuing with the trend that I built there, I'm like, you know what? I'm good. I don't need to sell now unless I see like crazy warning signs. And by the way, those crazy customers, those were the warning signs. Like, is this it? Is this where I'm like taking a... Tumbled down the death row for the company.

That did make me wonder, maybe it's time to sell now before I really run into that customer that tries to ruin our business. But yeah, as long as we kept on that trend, I'm like, I could see the path. It didn't seem too long. So if it was like five years into the future, I would not be able to do it. But it was about two years into the future.

That did make me wonder, maybe it's time to sell now before I really run into that customer that tries to ruin our business. But yeah, as long as we kept on that trend, I'm like, I could see the path. It didn't seem too long. So if it was like five years into the future, I would not be able to do it. But it was about two years into the future.

I'm like, I think I can hold on for that and have a life-changing outcome there.

I'm like, I think I can hold on for that and have a life-changing outcome there.

Yeah, the process was much more stressful than I anticipated. And it's mostly psychological in its core. First of all, it's a very technical process. That's another thing that I didn't anticipate. Everybody reads about due diligence. It seems like a very straightforward thing. You just provide the documents for the company. You let them look at your code base. And you're done. And it's all great.

Yeah, the process was much more stressful than I anticipated. And it's mostly psychological in its core. First of all, it's a very technical process. That's another thing that I didn't anticipate. Everybody reads about due diligence. It seems like a very straightforward thing. You just provide the documents for the company. You let them look at your code base. And you're done. And it's all great.

But it's actually so technical and complicated. There were times during due diligence, and it's mostly around stuff like taxes and company structure, that the other side's legal team would just disappear for like three, four days a week looking into something. And I'm like, is this a big problem? Is this a small problem? Is this taking down the deal? I just have no idea.

But it's actually so technical and complicated. There were times during due diligence, and it's mostly around stuff like taxes and company structure, that the other side's legal team would just disappear for like three, four days a week looking into something. And I'm like, is this a big problem? Is this a small problem? Is this taking down the deal? I just have no idea.

And this kind of like ambiguity where you have no idea if

And this kind of like ambiguity where you have no idea if

things are going well or not for weeks at a time it really gets to you eventually and it's a lot very minute things written in some contract from three years ago and it's like is this a problem it looks so minor is this really a problem and they're like we don't know we're gonna need more time to find out it's like sounds bad you know but you just stick with it eventually you get food due diligence and then you have the purchase agreement aspect

things are going well or not for weeks at a time it really gets to you eventually and it's a lot very minute things written in some contract from three years ago and it's like is this a problem it looks so minor is this really a problem and they're like we don't know we're gonna need more time to find out it's like sounds bad you know but you just stick with it eventually you get food due diligence and then you have the purchase agreement aspect

I thought once we're done with due diligence, like we're done, you know, we just need to sign the contracts and get on with our lives. But hell no, that was just half of the process. It was crazy.

I thought once we're done with due diligence, like we're done, you know, we just need to sign the contracts and get on with our lives. But hell no, that was just half of the process. It was crazy.

Yeah, you just don't know those things. Luckily, I had Einar to provide some emotional support. He told me that basically his role once the process starts is to be therapist for the founders. And it pretty much ended that way. Every time I would go to him, it's like, how big is this issue? It's like, don't worry, it happens in every sale process.

Yeah, you just don't know those things. Luckily, I had Einar to provide some emotional support. He told me that basically his role once the process starts is to be therapist for the founders. And it pretty much ended that way. Every time I would go to him, it's like, how big is this issue? It's like, don't worry, it happens in every sale process.

Like, okay, if Einar says it happens every time, it's fine.

Like, okay, if Einar says it happens every time, it's fine.

Okay. So he would calm me down and this would happen a lot. Him and my lawyer, I want to give credit, Kaiser, just did an amazing job, especially during the purchase agreements. Every word in those agreements can have... such a long-term effect on your life. And you're like, I don't even know what any of this means.

Okay. So he would calm me down and this would happen a lot. Him and my lawyer, I want to give credit, Kaiser, just did an amazing job, especially during the purchase agreements. Every word in those agreements can have... such a long-term effect on your life. And you're like, I don't even know what any of this means.

So having a really good lawyer that is patient and kind enough to explain it in a way that you can understand is so important. And still there, we would get hung up on things where us and the buyer had some sort of disagreement on and like, is this solvable? I don't know. And again, days would go by, weeks would go by. From my end, this is the only thing going on in my life, right?

So having a really good lawyer that is patient and kind enough to explain it in a way that you can understand is so important. And still there, we would get hung up on things where us and the buyer had some sort of disagreement on and like, is this solvable? I don't know. And again, days would go by, weeks would go by. From my end, this is the only thing going on in my life, right?

Other than running the business. But they're dealing with multiple deals at the same time. So I don't know if they're just ghosting me or actually busy. Is this a tactic that they're using to get me to come to their side? Yeah, it's super stressful. I usually consider myself a very even-keeled person, and I was taken aback by how stressed I got near the end of the deal.

Other than running the business. But they're dealing with multiple deals at the same time. So I don't know if they're just ghosting me or actually busy. Is this a tactic that they're using to get me to come to their side? Yeah, it's super stressful. I usually consider myself a very even-keeled person, and I was taken aback by how stressed I got near the end of the deal.

Even though we had all this inbound interest, I felt like if this deal falls apart and we go back to market, we will be able to get a really good outcome regardless. But I just didn't, once you get too deep into it, you hate so much to go back to the beginning and do the due diligence again. It's like, oh my God, to go for that will be a nightmare.

Even though we had all this inbound interest, I felt like if this deal falls apart and we go back to market, we will be able to get a really good outcome regardless. But I just didn't, once you get too deep into it, you hate so much to go back to the beginning and do the due diligence again. It's like, oh my God, to go for that will be a nightmare.

So yeah, near the end of the process, I literally got insomnia. I would lie down in my bed, refreshing, looking for emails from the lawyer that I felt like, okay, I have to get out of bed, respond to this now. Otherwise, I'm going to stop this deal for the weekend because it's a Friday. And it got to the point where once I turned the phone off and I'm trying to go to sleep,

So yeah, near the end of the process, I literally got insomnia. I would lie down in my bed, refreshing, looking for emails from the lawyer that I felt like, okay, I have to get out of bed, respond to this now. Otherwise, I'm going to stop this deal for the weekend because it's a Friday. And it got to the point where once I turned the phone off and I'm trying to go to sleep,

I just can't fall asleep. So it's like, OK, it's 8 a.m. I'm just getting up. I didn't sleep today. I'll just keep going. And what do you know? Another email came in from the lawyer. So good thing I didn't go to sleep and just stayed like that for the last couple of weeks of the process.

I just can't fall asleep. So it's like, OK, it's 8 a.m. I'm just getting up. I didn't sleep today. I'll just keep going. And what do you know? Another email came in from the lawyer. So good thing I didn't go to sleep and just stayed like that for the last couple of weeks of the process.

As I mentioned, one of the reasons for selling the company was due to burnout. And when I was talking about the terms with the buyer, I mentioned that I would like to step down as CEO after the company is sold, and probably over the course of maybe a year or two, eventually walk away from the company, or at least have the ability to do that. So currently I'm still the CEO.

As I mentioned, one of the reasons for selling the company was due to burnout. And when I was talking about the terms with the buyer, I mentioned that I would like to step down as CEO after the company is sold, and probably over the course of maybe a year or two, eventually walk away from the company, or at least have the ability to do that. So currently I'm still the CEO.

We closed the deal two and a half months ago. We're in the process of recruiting a professional CEO to come in and take over for me. I literally had an interview just before this call, an hour-long interview. By the way, it's been a fascinating process, interviewing for the CEO position.

We closed the deal two and a half months ago. We're in the process of recruiting a professional CEO to come in and take over for me. I literally had an interview just before this call, an hour-long interview. By the way, it's been a fascinating process, interviewing for the CEO position.

I'm talking to really incredible people, and I'm super excited to potentially work with those people, with me taking a smaller role in the company, mainly focusing on product. That's where I feel I can make the most impact at the company. I've been doing well in the other aspects, but those are definitely not my strong suits.

I'm talking to really incredible people, and I'm super excited to potentially work with those people, with me taking a smaller role in the company, mainly focusing on product. That's where I feel I can make the most impact at the company. I've been doing well in the other aspects, but those are definitely not my strong suits.

So going back to focusing on product and over time, reducing my involvement in the company, I still hold some minority stake in the company. So I wanted to do well, but maybe more on a consultancy basis eventually.

So going back to focusing on product and over time, reducing my involvement in the company, I still hold some minority stake in the company. So I wanted to do well, but maybe more on a consultancy basis eventually.

The main thing for me right now, and I already started doing that, is I'm looking to help mentor other B2B SaaS founders from that zero to one and a potential sale process and also do some angel investing in that same realm. So I'm talking to a few founders already. Those conversations actually are incredibly invigorating for me.

The main thing for me right now, and I already started doing that, is I'm looking to help mentor other B2B SaaS founders from that zero to one and a potential sale process and also do some angel investing in that same realm. So I'm talking to a few founders already. Those conversations actually are incredibly invigorating for me.

Yeah, I just incredibly happy to talk about those topics. It's like I have somebody who also understands what I'm talking about and having those conversations, kind of like what we're doing right now.

Yeah, I just incredibly happy to talk about those topics. It's like I have somebody who also understands what I'm talking about and having those conversations, kind of like what we're doing right now.

Yeah, so I have my personal website. It's IranGalperin.com. If you just Google my name, you'll find it. You can contact me through there. Also, I'm on Twitter and LinkedIn. Easy to find. Feel free to reach out if you want to talk. I'm super excited to talk to founders about B2B SaaS. It's kind of my thing right now.

Yeah, so I have my personal website. It's IranGalperin.com. If you just Google my name, you'll find it. You can contact me through there. Also, I'm on Twitter and LinkedIn. Easy to find. Feel free to reach out if you want to talk. I'm super excited to talk to founders about B2B SaaS. It's kind of my thing right now.

Yeah, it always gets me worked up to talk to founders in the early stages and hearing about what they're doing. It's like, wow, that's so exciting. So yeah, I love having those calls.

Yeah, it always gets me worked up to talk to founders in the early stages and hearing about what they're doing. It's like, wow, that's so exciting. So yeah, I love having those calls.

Thank you so much, Rob. Been a pleasure.

Thank you so much, Rob. Been a pleasure.