She Had a 7-Figure SaaS Exit! with MeetEdgar Founder, Laura Roeder

so I I I knew I would be able to sell it so I I I knew I would be able to sell it at some point to someone for some price at some point to someone for some price at some point to someone for some price but I didn't know if these would be the but I didn't know if these would be the but I didn't know if these would be the people if this would be the time so it people if this would be the time so it people if this would be the time so it it did feel like it was kind of a high it did feel like it was kind of a high it did feel like it was kind of a high pressure time and an exciting time too pressure time and an exciting time too pressure time and an exciting time too but also stressful just is this is this but also stressful just is this is this but also stressful just is this is this going to happen or not and kind of every going to happen or not and kind of every going to happen or not and kind of every phone call you have once you're in the phone call you have once you're in the phone call you have once you're in the negotiation process every phone call negotiation process every phone call negotiation process every phone call you're like is this going to be the one you're like is this going to be the one you're like is this going to be the one where we close the deal is this going to where we close the deal is this going to where we close the deal is this going to be the one where you know like I said be the one where you know like I said be the one where you know like I said they didn't bring up any big crazy they didn't bring up any big crazy they didn't bring up any big crazy surprise things but on every phone call surprise things but on every phone call surprise things but on every phone call I'm like maybe maybe they're G on this I'm like maybe maybe they're G on this I'm like maybe maybe they're G on this one this week on the channel we're one this week on the channel we're one this week on the channel we're continuing our series looking at continuing our series looking at continuing our series looking at Founders who've sold their companies we Founders who've sold their companies we Founders who've sold their companies we had a video a few weeks back with Derrik had a video a few weeks back with Derrik had a video a few weeks back with Derrik Rhymer and a sixf figure exit and today Rhymer and a sixf figure exit and today Rhymer and a sixf figure exit and today I'll talk with Laura rer about her seven I'll talk with Laura rer about her seven I'll talk with Laura rer about her seven figure exit selling meet Edgar before we figure exit selling meet Edgar before we figure exit selling meet Edgar before we dive in I wanted to thank our sponsor dive in I wanted to thank our sponsor dive in I wanted to thank our sponsor for this video Quiet Light brokerage for this video Quiet Light brokerage for this video Quiet Light brokerage I'll talk more about them in a minute I'll talk more about them in a minute I'll talk more about them in a minute I'm Laura rer I'm the founder of me I'm Laura rer I'm the founder of me I'm Laura rer I'm the founder of me Edgar and paper B what was Meet Edgar Edgar and paper B what was Meet Edgar Edgar and paper B what was Meet Edgar and who was it built for so meet Edgar and who was it built for so meet Edgar and who was it built for so meet Edgar is a social media scheduling tool is a social media scheduling tool is a social media scheduling tool Twitter Facebook LinkedIn Etc and our Twitter Facebook LinkedIn Etc and our Twitter Facebook LinkedIn Etc and our target market was solopreneurs target market was solopreneurs target market was solopreneurs Freelancers very small businesses and Freelancers very small businesses and Freelancers very small businesses and what problem specifically did it solve what problem specifically did it solve what problem specifically did it solve for those people so the problem meet for those people so the problem meet for those people so the problem meet Edgar did and does solve is creating a Edgar did and does solve is creating a Edgar did and does solve is creating a library of content for your social media library of content for your social media library of content for your social media accounts and then the tool automatically accounts and then the tool automatically accounts and then the tool automatically repurposing it over and over again which repurposing it over and over again which repurposing it over and over again which really means the problem it solves is really means the problem it solves is really means the problem it solves is fill up your social accounts with good

fill up your social accounts with good fill up your social accounts with good high quality content and what were the high quality content and what were the high quality content and what were the price points and maybe the customer price points and maybe the customer price points and maybe the customer sizes or types yeah so our price point sizes or types yeah so our price point sizes or types yeah so our price point was always around $50 a month which I was always around $50 a month which I was always around $50 a month which I think is where it still is later we think is where it still is later we think is where it still is later we added a lower tier for $29 a month and added a lower tier for $29 a month and added a lower tier for $29 a month and our customer sizes were usually solo our customer sizes were usually solo our customer sizes were usually solo businesses way less than five people we businesses way less than five people we businesses way less than five people we did didn't have a way to work with did didn't have a way to work with did didn't have a way to work with larger businesses or Enterprise accounts larger businesses or Enterprise accounts larger businesses or Enterprise accounts or anything like that and you decided to or anything like that and you decided to or anything like that and you decided to sell it what about a year and a half ago sell it what about a year and a half ago sell it what about a year and a half ago what was the trigger that caused you to what was the trigger that caused you to what was the trigger that caused you to think I want to sell this actually the think I want to sell this actually the think I want to sell this actually the business had the growth had flattened business had the growth had flattened business had the growth had flattened out and I was kind of dissatisfied with out and I was kind of dissatisfied with out and I was kind of dissatisfied with the business and I considered a lot of the business and I considered a lot of the business and I considered a lot of different options of what to do with it different options of what to do with it different options of what to do with it and what I ended up doing was kind of and what I ended up doing was kind of and what I ended up doing was kind of putting it in maintenance mode so I let putting it in maintenance mode so I let putting it in maintenance mode so I let almost the entire team go it was kind of almost the entire team go it was kind of almost the entire team go it was kind of running on its own I did that for a few running on its own I did that for a few running on its own I did that for a few months I thought that's the path I months I thought that's the path I months I thought that's the path I wanted to take and then I didn't want to wanted to take and then I didn't want to wanted to take and then I didn't want to take that path and actually that was take that path and actually that was take that path and actually that was kind of the impetus for selling the kind of the impetus for selling the kind of the impetus for selling the business I thought I wanted to do the business I thought I wanted to do the business I thought I wanted to do the maintenance mode thing it wasn't fun I maintenance mode thing it wasn't fun I maintenance mode thing it wasn't fun I decided I would rather just sell it and decided I would rather just sell it and decided I would rather just sell it and that the math worked out better to sell that the math worked out better to sell that the math worked out better to sell it what wasn't fun about the maintenance it what wasn't fun about the maintenance it what wasn't fun about the maintenance mode I think like a lot of entrepreneurs mode I think like a lot of entrepreneurs mode I think like a lot of entrepreneurs the building in the beginning is very the building in the beginning is very the building in the beginning is very exciting that growth phase is very exciting that growth phase is very exciting that growth phase is very exciting uh to have a business that you exciting uh to have a business that you exciting uh to have a business that you know isn't grow gr is just it it felt know isn't grow gr is just it it felt know isn't grow gr is just it it felt very frustrating the idea was that I was very frustrating the idea was that I was very frustrating the idea was that I was just going to sort of accept that you just going to sort of accept that you just going to sort of accept that you know the cash was going to come in but I

know the cash was going to come in but I know the cash was going to come in but I wanted to be building and improving wanted to be building and improving wanted to be building and improving something and can you give us an idea of something and can you give us an idea of something and can you give us an idea of where the business was at maybe Revenue where the business was at maybe Revenue where the business was at maybe Revenue wise when you made this decision yeah it wise when you made this decision yeah it wise when you made this decision yeah it was at a few million a year Topline was at a few million a year Topline was at a few million a year Topline reoccurring revenue and so you decide reoccurring revenue and so you decide reoccurring revenue and so you decide you don't want to do maintenance mode you don't want to do maintenance mode you don't want to do maintenance mode you're going to sell it what was the you're going to sell it what was the you're going to sell it what was the process like from there once I decided I process like from there once I decided I process like from there once I decided I wanted to sell the business uh the first wanted to sell the business uh the first wanted to sell the business uh the first thing did was go into research mode so thing did was go into research mode so thing did was go into research mode so the book that absolutely everyone must the book that absolutely everyone must the book that absolutely everyone must read is the art of selling your business read is the art of selling your business read is the art of selling your business by John waro I also recommend um before by John waro I also recommend um before by John waro I also recommend um before the exit by Dan Andrews is another great the exit by Dan Andrews is another great the exit by Dan Andrews is another great book to get the lay of the land so first book to get the lay of the land so first book to get the lay of the land so first I read those books and then I listened I read those books and then I listened I read those books and then I listened to as many episodes as I possibly could to as many episodes as I possibly could to as many episodes as I possibly could of the built to sell podcast thank you of the built to sell podcast thank you of the built to sell podcast thank you John waro for letting us all you know John waro for letting us all you know John waro for letting us all you know behind the scenes on on what real behind the scenes on on what real behind the scenes on on what real business sales look like I think both business sales look like I think both business sales look like I think both those steps are so important for anyone those steps are so important for anyone those steps are so important for anyone who wants to sell your business because who wants to sell your business because who wants to sell your business because it's a big new thing if you've never it's a big new thing if you've never it's a big new thing if you've never done it before there's a lot of stuff done it before there's a lot of stuff done it before there's a lot of stuff you don't know that you need to learn so you don't know that you need to learn so you don't know that you need to learn so that was kind of Step One learn all the that was kind of Step One learn all the that was kind of Step One learn all the things after I had done that it became things after I had done that it became things after I had done that it became clear to me that the acquisition type clear to me that the acquisition type clear to me that the acquisition type that I was going to go after was going that I was going to go after was going that I was going to go after was going to be a financial acquisition rather to be a financial acquisition rather to be a financial acquisition rather than a strategic acquisition or sale in than a strategic acquisition or sale in than a strategic acquisition or sale in my case because we didn't really have my case because we didn't really have my case because we didn't really have any strategic interest already it seems any strategic interest already it seems any strategic interest already it seems like when people sell their business like when people sell their business like when people sell their business strategically they often have some strategically they often have some strategically they often have some Partners or vendors or something in mind Partners or vendors or something in mind Partners or vendors or something in mind that they're thinking they'll probably that they're thinking they'll probably that they're thinking they'll probably work with that just wasn't our case we work with that just wasn't our case we work with that just wasn't our case we weren't you know getting all these weren't you know getting all these weren't you know getting all these emails saying we want to partner with

emails saying we want to partner with emails saying we want to partner with you just wasn't didn't happen with me you just wasn't didn't happen with me you just wasn't didn't happen with me Edgar so I thought okay so it's going to Edgar so I thought okay so it's going to Edgar so I thought okay so it's going to be a financial sale and then I started be a financial sale and then I started be a financial sale and then I started thinking do I want to use a broker do I thinking do I want to use a broker do I thinking do I want to use a broker do I want to use one of these websites to want to use one of these websites to want to use one of these websites to sell it how do I want to do it and so I sell it how do I want to do it and so I sell it how do I want to do it and so I thought okay well I should start by thought okay well I should start by thought okay well I should start by researching who's buying you know researching who's buying you know researching who's buying you know relatively small SAS businesses like relatively small SAS businesses like relatively small SAS businesses like mine and basically by the time I done mine and basically by the time I done mine and basically by the time I done that research I kind of realized well I that research I kind of realized well I that research I kind of realized well I have the list of potential acquirers you have the list of potential acquirers you have the list of potential acquirers you know I've done my research I found the know I've done my research I found the know I've done my research I found the companies that are out there saying yes companies that are out there saying yes companies that are out there saying yes this is our thing we buy these kind of this is our thing we buy these kind of this is our thing we buy these kind of SAS businesses which are sometimes SAS businesses which are sometimes SAS businesses which are sometimes called micro PE firms the type of firm called micro PE firms the type of firm called micro PE firms the type of firm that bought my business and once i' done that bought my business and once i' done that bought my business and once i' done all that I kind of thought well if I all that I kind of thought well if I all that I kind of thought well if I already have my list of potential buyers already have my list of potential buyers already have my list of potential buyers maybe I can just run this process myself maybe I can just run this process myself maybe I can just run this process myself and I kind of figured why not give it a and I kind of figured why not give it a and I kind of figured why not give it a shot I was excited about doing it myself shot I was excited about doing it myself shot I was excited about doing it myself so why not give it a shot try to do it so why not give it a shot try to do it so why not give it a shot try to do it myself if it was a total failure I could myself if it was a total failure I could myself if it was a total failure I could go back to the drawing board and work go back to the drawing board and work go back to the drawing board and work with some sort of broker MMA adviser with some sort of broker MMA adviser with some sort of broker MMA adviser whatever you want to call it did you whatever you want to call it did you whatever you want to call it did you have any concerns that doing it on your have any concerns that doing it on your have any concerns that doing it on your own you might make a big mistake like own you might make a big mistake like own you might make a big mistake like get a lot less than the business was get a lot less than the business was get a lot less than the business was worth sort of but I felt like I was worth sort of but I felt like I was worth sort of but I felt like I was educated enough to have some idea of educated enough to have some idea of educated enough to have some idea of what the business was worth uh before I what the business was worth uh before I what the business was worth uh before I started I set a really clear number for started I set a really clear number for started I set a really clear number for what I would need out of the exit and I what I would need out of the exit and I what I would need out of the exit and I did have that maintenance mode to did have that maintenance mode to did have that maintenance mode to compare it to so it's like okay I have compare it to so it's like okay I have compare it to so it's like okay I have this cash flowing business that's going this cash flowing business that's going this cash flowing business that's going to pay me this much a month this much a to pay me this much a month this much a to pay me this much a month this much a year you know I did estimates of the year you know I did estimates of the year you know I did estimates of the revenue going down over time you know

revenue going down over time you know revenue going down over time you know when I thought it might kind of Peter when I thought it might kind of Peter when I thought it might kind of Peter out entirely so I had a pretty good idea out entirely so I had a pretty good idea out entirely so I had a pretty good idea of how much it was worth and I felt of how much it was worth and I felt of how much it was worth and I felt excited about doing the negotiation it excited about doing the negotiation it excited about doing the negotiation it wasn't it was definitely something new wasn't it was definitely something new wasn't it was definitely something new but it was something that I was looking but it was something that I was looking but it was something that I was looking forward to diving into and how did you forward to diving into and how did you forward to diving into and how did you decide on the price so I set my own decide on the price so I set my own decide on the price so I set my own internal number that I actually tried to internal number that I actually tried to internal number that I actually tried to set kind of on the low side because uh a set kind of on the low side because uh a set kind of on the low side because uh a big factor for me which people don't big factor for me which people don't big factor for me which people don't often talk about is taxes so in my often talk about is taxes so in my often talk about is taxes so in my situation and in a lot of people's situation and in a lot of people's situation and in a lot of people's situations the taxes on selling a situations the taxes on selling a situations the taxes on selling a business were very significantly lower business were very significantly lower business were very significantly lower than the taxes of just collecting income than the taxes of just collecting income than the taxes of just collecting income for the business like about half for for the business like about half for for the business like about half for selling the business so that was selling the business so that was selling the business so that was actually a big factor in okay what's actually a big factor in okay what's actually a big factor in okay what's going to be the number that if I sell going to be the number that if I sell going to be the number that if I sell the business post taxes is going to be the business post taxes is going to be the business post taxes is going to be likely kind of a higher number than I likely kind of a higher number than I likely kind of a higher number than I would collect just letting the business would collect just letting the business would collect just letting the business run out and obviously also having that run out and obviously also having that run out and obviously also having that Assurance of getting the cash and all up Assurance of getting the cash and all up Assurance of getting the cash and all up front once I have the cash I can invest front once I have the cash I can invest front once I have the cash I can invest it blah blah blah so I tried to set my it blah blah blah so I tried to set my it blah blah blah so I tried to set my own extremely reasonable number which I own extremely reasonable number which I own extremely reasonable number which I think is also kind of the opposite of think is also kind of the opposite of think is also kind of the opposite of what you hear a lot of people who want what you hear a lot of people who want what you hear a lot of people who want to sell their business and they're like to sell their business and they're like to sell their business and they're like Well yeah if someone writes me a check Well yeah if someone writes me a check Well yeah if someone writes me a check for 50 million then sure it's like well for 50 million then sure it's like well for 50 million then sure it's like well but no one's going to write your but no one's going to write your but no one's going to write your business isn't worth 50 million so sorry business isn't worth 50 million so sorry business isn't worth 50 million so sorry but that's not that's not going to but that's not that's not going to but that's not that's not going to happen so I tried to set a number that happen so I tried to set a number that happen so I tried to set a number that I'm like I feel pretty confident that I'm like I feel pretty confident that I'm like I feel pretty confident that I'll be happy with this I can get this I'll be happy with this I can get this I'll be happy with this I can get this and then if I get more then great so and then if I get more then great so and then if I get more then great so what was the initial response you send what was the initial response you send what was the initial response you send all these emails to these micro firms all these emails to these micro firms all these emails to these micro firms like did most of them respond or only a

like did most of them respond or only a like did most of them respond or only a handful most of them did respond and I I handful most of them did respond and I I handful most of them did respond and I I had a very targeted list of acquirers had a very targeted list of acquirers had a very targeted list of acquirers and I think something really important and I think something really important and I think something really important when you're selling your business is when you're selling your business is when you're selling your business is it's very important to Hype yourself up it's very important to Hype yourself up it's very important to Hype yourself up about how great your business is because about how great your business is because about how great your business is because in this whole process the other party is in this whole process the other party is in this whole process the other party is going to Chip Away way at the value of going to Chip Away way at the value of going to Chip Away way at the value of your business and let's be real you want your business and let's be real you want your business and let's be real you want to sell it you you see some problems to sell it you you see some problems to sell it you you see some problems with it right in in one way or the other with it right in in one way or the other with it right in in one way or the other right or else you would hold on to it so right or else you would hold on to it so right or else you would hold on to it so and it's our own business we're always and it's our own business we're always and it's our own business we're always looking at the problems how to make them looking at the problems how to make them looking at the problems how to make them better blah blah blah so I really hyped better blah blah blah so I really hyped better blah blah blah so I really hyped myself up convinced myself on the value myself up convinced myself on the value myself up convinced myself on the value of this business again nothing crazy but of this business again nothing crazy but of this business again nothing crazy but it's like okay I have this number that I it's like okay I have this number that I it's like okay I have this number that I feel very confident that it's worth and feel very confident that it's worth and feel very confident that it's worth and I was targeting companies that buy SAS I was targeting companies that buy SAS I was targeting companies that buy SAS businesses so you know it's not a super businesses so you know it's not a super businesses so you know it's not a super long list so I I think I had about like long list so I I think I had about like long list so I I think I had about like 10 kind of initial phone calls with 10 kind of initial phone calls with 10 kind of initial phone calls with people who were interested and I think people who were interested and I think people who were interested and I think even at that stage sometimes people get even at that stage sometimes people get even at that stage sometimes people get very intimidated being like Oh I'm going very intimidated being like Oh I'm going very intimidated being like Oh I'm going to bother these people it's like these to bother these people it's like these to bother these people it's like these people buy stas companies you're not people buy stas companies you're not people buy stas companies you're not bothering them you're saying hey I have bothering them you're saying hey I have bothering them you're saying hey I have the thing that you want to buy and so the thing that you want to buy and so the thing that you want to buy and so how long did it take to find a buyer and how long did it take to find a buyer and how long did it take to find a buyer and how long to actually close the deal so how long to actually close the deal so how long to actually close the deal so it was all extremely fast um so it took it was all extremely fast um so it took it was all extremely fast um so it took I think about 2 months from kind of I think about 2 months from kind of I think about 2 months from kind of first round of emails to um the LOI that first round of emails to um the LOI that first round of emails to um the LOI that turned out to be the LOI uh I sold my turned out to be the LOI uh I sold my turned out to be the LOI uh I sold my business to Shor Swift all they do is business to Shor Swift all they do is business to Shor Swift all they do is buy SAS companies so by the time they buy SAS companies so by the time they buy SAS companies so by the time they bought my company they had bought 40 SAS

bought my company they had bought 40 SAS bought my company they had bought 40 SAS companies and kudos to them they had companies and kudos to them they had companies and kudos to them they had their process down so they told me it their process down so they told me it their process down so they told me it would be a 30-day due diligence and it would be a 30-day due diligence and it would be a 30-day due diligence and it was that's uh I think that's pretty rare was that's uh I think that's pretty rare was that's uh I think that's pretty rare well no I think a 30-day due diligence well no I think a 30-day due diligence well no I think a 30-day due diligence is extremely rare from what what I've is extremely rare from what what I've is extremely rare from what what I've heard about in other people's situations heard about in other people's situations heard about in other people's situations but this was a nice thing about working but this was a nice thing about working but this was a nice thing about working with a company that this is just kind of with a company that this is just kind of with a company that this is just kind of all they did day in and day out it was all they did day in and day out it was all they did day in and day out it was very formulaic for them also our very formulaic for them also our very formulaic for them also our financials were so simple 100% of our financials were so simple 100% of our financials were so simple 100% of our income came from stripe we didn't have income came from stripe we didn't have income came from stripe we didn't have any special deals we didn't have people any special deals we didn't have people any special deals we didn't have people writing us checks so it was a very writing us checks so it was a very writing us checks so it was a very simple business to vet financially and simple business to vet financially and simple business to vet financially and what was involved in that 30-day due what was involved in that 30-day due what was involved in that 30-day due diligence process uh so it was actually diligence process uh so it was actually diligence process uh so it was actually pretty simple you know I didn't need to pretty simple you know I didn't need to pretty simple you know I didn't need to hire a special accounting team or hire a special accounting team or hire a special accounting team or anything like that there was no quote anything like that there was no quote anything like that there was no quote unquote forens accounting where they're unquote forens accounting where they're unquote forens accounting where they're you know I've had friends whose's you know I've had friends whose's you know I've had friends whose's Acquisitions they're bringing in deoe Acquisitions they're bringing in deoe Acquisitions they're bringing in deoe and stuff even when it's totally and stuff even when it's totally and stuff even when it's totally ridiculous for the deal size so I had ridiculous for the deal size so I had ridiculous for the deal size so I had always done a good job with you know always done a good job with you know always done a good job with you know just the basic stats of the business and just the basic stats of the business and just the basic stats of the business and the bookkeeping and things like that so the bookkeeping and things like that so the bookkeeping and things like that so those were the things it's like we want those were the things it's like we want those were the things it's like we want to look at all the bookkeeping we want to look at all the bookkeeping we want to look at all the bookkeeping we want to look at the stripe account we want to to look at the stripe account we want to to look at the stripe account we want to look at the Google analytics account look at the Google analytics account look at the Google analytics account basically having firsthand access to basically having firsthand access to basically having firsthand access to make sure that all the numbers that I make sure that all the numbers that I make sure that all the numbers that I was saying were the real numbers in the was saying were the real numbers in the was saying were the real numbers in the business were there any surprises along business were there any surprises along business were there any surprises along the way I think think a big surprise for the way I think think a big surprise for the way I think think a big surprise for me uh was how much I enjoyed the process me uh was how much I enjoyed the process me uh was how much I enjoyed the process actually dealmaker dealer I had heard so actually dealmaker dealer I had heard so actually dealmaker dealer I had heard so many horror stories of it going terribly

many horror stories of it going terribly many horror stories of it going terribly and I had never done anything like this and I had never done anything like this and I had never done anything like this before I was very positive and extremely before I was very positive and extremely before I was very positive and extremely cautious at the same time because a big cautious at the same time because a big cautious at the same time because a big thing I had learned from all the thing I had learned from all the thing I had learned from all the research I had done is that there are a research I had done is that there are a research I had done is that there are a lot of people out there that play a lot lot of people out there that play a lot lot of people out there that play a lot of games so I was on very high alert of games so I was on very high alert of games so I was on very high alert alert for all these red flags for the alert for all these red flags for the alert for all these red flags for the games um and I think sh Swift did an games um and I think sh Swift did an games um and I think sh Swift did an amazing job not playing games but I was amazing job not playing games but I was amazing job not playing games but I was also very conscious in just shut also very conscious in just shut also very conscious in just shut shutting anything down right away like I shutting anything down right away like I shutting anything down right away like I didn't get into when they would kind of didn't get into when they would kind of didn't get into when they would kind of a common thing in the negotiation right a common thing in the negotiation right a common thing in the negotiation right is they're going to bring up negative is they're going to bring up negative is they're going to bring up negative points about your business and be like points about your business and be like points about your business and be like oh what about this what about that and oh what about this what about that and oh what about this what about that and the way I handled that was always to say the way I handled that was always to say the way I handled that was always to say yeah you guys need to make a decision if yeah you guys need to make a decision if yeah you guys need to make a decision if this makes sense for you so if they're this makes sense for you so if they're this makes sense for you so if they're like I don't like this about the tech like I don't like this about the tech like I don't like this about the tech you know I'd be like you know what or you know I'd be like you know what or you know I'd be like you know what or they say we're going to have to bring in they say we're going to have to bring in they say we're going to have to bring in this big Tech Team or we're going to this big Tech Team or we're going to this big Tech Team or we're going to have to bring in this specialist I'd be have to bring in this specialist I'd be have to bring in this specialist I'd be like do the math you know if that's what like do the math you know if that's what like do the math you know if that's what you're going to need to do make sure the you're going to need to do make sure the you're going to need to do make sure the deal makes sense make sure the price deal makes sense make sure the price deal makes sense make sure the price makes sense I was never arguing about makes sense I was never arguing about makes sense I was never arguing about like oh no you won't need to do that or like oh no you won't need to do that or like oh no you won't need to do that or our teex great it was just like okay our teex great it was just like okay our teex great it was just like okay that's up to you we both need to feel that's up to you we both need to feel that's up to you we both need to feel happy with the price and that's all happy with the price and that's all happy with the price and that's all there is at the end of the day it's a there is at the end of the day it's a there is at the end of the day it's a really nice way to handle it really nice really nice way to handle it really nice really nice way to handle it really nice way so from the time you signed the way so from the time you signed the way so from the time you signed the letter of intent there's a 30-day due letter of intent there's a 30-day due letter of intent there's a 30-day due diligence did the the offer or the deal diligence did the the offer or the deal diligence did the the offer or the deal change at all during that time it did change at all during that time it did change at all during that time it did not change at all and so again I just not change at all and so again I just not change at all and so again I just have to give I have to give them props have to give I have to give them props have to give I have to give them props because I hear a lot of stories um where because I hear a lot of stories um where because I hear a lot of stories um where it does change and something else I did it does change and something else I did it does change and something else I did is once I had the LOI from Shor Swift I

is once I had the LOI from Shor Swift I is once I had the LOI from Shor Swift I could see other companies that they had could see other companies that they had could see other companies that they had purchased uh so I called up some of purchased uh so I called up some of purchased uh so I called up some of those companies and asked them those companies and asked them those companies and asked them specifically that question did the price specifically that question did the price specifically that question did the price change from the LOI to the sale price um change from the LOI to the sale price um change from the LOI to the sale price um and a few of them told me that it had and a few of them told me that it had and a few of them told me that it had not I feel like I should throw in too not I feel like I should throw in too not I feel like I should throw in too while I'm talking about it the team at while I'm talking about it the team at while I'm talking about it the team at Short Swift that I worked with has Short Swift that I worked with has Short Swift that I worked with has actually all left now and is now at a actually all left now and is now at a actually all left now and is now at a company called big band so short Swift company called big band so short Swift company called big band so short Swift if you want to work with the people that if you want to work with the people that if you want to work with the people that I worked with they at a company called I worked with they at a company called I worked with they at a company called big band now and throughout this whole big band now and throughout this whole big band now and throughout this whole process what was the most stressful part process what was the most stressful part process what was the most stressful part of it for you the most stressful part of it for you the most stressful part of it for you the most stressful part was probably just the was probably just the was probably just the uncertainty that the whole thing uncertainty that the whole thing uncertainty that the whole thing wouldn't work because it was it it was a wouldn't work because it was it it was a wouldn't work because it was it it was a relatively short list like I said I had relatively short list like I said I had relatively short list like I said I had you know I had phone calls with like 10 you know I had phone calls with like 10 you know I had phone calls with like 10 different buyers different buyers different buyers um maybe none of them would just want a um maybe none of them would just want a um maybe none of them would just want a social media tool you know sometimes the social media tool you know sometimes the social media tool you know sometimes the Stars just don't align so I I I knew I Stars just don't align so I I I knew I Stars just don't align so I I I knew I would be able to sell it at some point would be able to sell it at some point would be able to sell it at some point to someone for some price but I didn't to someone for some price but I didn't to someone for some price but I didn't know if these would be the people if know if these would be the people if know if these would be the people if this would be the time so it it did feel this would be the time so it it did feel this would be the time so it it did feel like it was kind of a high pressure time like it was kind of a high pressure time like it was kind of a high pressure time and an exciting time too but also and an exciting time too but also and an exciting time too but also stressful just is this is this going to stressful just is this is this going to stressful just is this is this going to happen or not and kind of every phone happen or not and kind of every phone happen or not and kind of every phone call you have once you're in the call you have once you're in the call you have once you're in the negotiation process every phone call negotiation process every phone call negotiation process every phone call you're like is this going to be the one you're like is this going to be the one you're like is this going to be the one where we close the deal is this going to where we close the deal is this going to where we close the deal is this going to be the one where you know like I said be the one where you know like I said be the one where you know like I said they didn't bring up any big crazy they didn't bring up any big crazy they didn't bring up any big crazy surprise things but on every phone call surprise things but on every phone call surprise things but on every phone call I'm like maybe maybe they're GNA on this I'm like maybe maybe they're GNA on this I'm like maybe maybe they're GNA on this one so the deal closes you refresh your

one so the deal closes you refresh your one so the deal closes you refresh your bank balance on your phone usually is bank balance on your phone usually is bank balance on your phone usually is what where people wind up doing it but what where people wind up doing it but what where people wind up doing it but you look at at that number with all you look at at that number with all you look at at that number with all those zeros what was the feeling that those zeros what was the feeling that those zeros what was the feeling that you felt in that moment well it's funny you felt in that moment well it's funny you felt in that moment well it's funny you know the negotiation was way more you know the negotiation was way more you know the negotiation was way more exciting than the close because the exciting than the close because the exciting than the close because the close I knew what was coming I knew what close I knew what was coming I knew what close I knew what was coming I knew what the number was going to be right I knew the number was going to be right I knew the number was going to be right I knew the day it was going to land so actually the day it was going to land so actually the day it was going to land so actually the negotiation was kind of the exciting the negotiation was kind of the exciting the negotiation was kind of the exciting part because that's when it was like oh part because that's when it was like oh part because that's when it was like oh are they going to you know I'm asking are they going to you know I'm asking are they going to you know I'm asking for more are they going to go for it how for more are they going to go for it how for more are they going to go for it how much more are they going to offer me much more are they going to offer me much more are they going to offer me that was like if there was an exciting that was like if there was an exciting that was like if there was an exciting part of the process it was that the part of the process it was that the part of the process it was that the truth is the number Landing just felt truth is the number Landing just felt truth is the number Landing just felt like the end of this process process like the end of this process process like the end of this process process that had already for for me it wasn't a that had already for for me it wasn't a that had already for for me it wasn't a super long time that it had been going super long time that it had been going super long time that it had been going on but just sort of closing the book on but just sort of closing the book on but just sort of closing the book rather than like the the big height of rather than like the the big height of rather than like the the big height of excitement and what are you working on excitement and what are you working on excitement and what are you working on today so today I'm working on paper bell today so today I'm working on paper bell today so today I'm working on paper bell which is another SAS business it's a which is another SAS business it's a which is another SAS business it's a tool for coaches like life coaches and tool for coaches like life coaches and tool for coaches like life coaches and business coaches to do their scheduling business coaches to do their scheduling business coaches to do their scheduling and their payments and their client coms and their payments and their client coms and their payments and their client coms kind of a a back office tool for coaches kind of a a back office tool for coaches kind of a a back office tool for coaches in a minute we'll hear from Laura about in a minute we'll hear from Laura about in a minute we'll hear from Laura about the thing she bought with the proceeds the thing she bought with the proceeds the thing she bought with the proceeds from her sale before we do that I want from her sale before we do that I want from her sale before we do that I want to thank Quiet Light brokerage they're to thank Quiet Light brokerage they're to thank Quiet Light brokerage they're our sponsor for this video Quiet Light our sponsor for this video Quiet Light our sponsor for this video Quiet Light brokerage has a stellar reputation and brokerage has a stellar reputation and brokerage has a stellar reputation and they've been around for 15 years they've been around for 15 years they've been around for 15 years representing Founders and Builders who representing Founders and Builders who representing Founders and Builders who make online businesses ranging from make online businesses ranging from make online businesses ranging from content sites to SAS to e-commerce to content sites to SAS to e-commerce to content sites to SAS to e-commerce to Wordpress plugins and they have helped

Wordpress plugins and they have helped Wordpress plugins and they have helped hundreds of Founders exit their hundreds of Founders exit their hundreds of Founders exit their businesses and hundreds of people businesses and hundreds of people businesses and hundreds of people acquire businesses if you've ever acquire businesses if you've ever acquire businesses if you've ever thought about selling your SAS company thought about selling your SAS company thought about selling your SAS company even if it's a bootstrapped company even even if it's a bootstrapped company even even if it's a bootstrapped company even if you think this isn't far enough to if you think this isn't far enough to if you think this isn't far enough to require an m&a adviser Quiet Light can require an m&a adviser Quiet Light can require an m&a adviser Quiet Light can be that partner for you head to microc be that partner for you head to microc be that partner for you head to microc comp.com sell to learn more about Quiet comp.com sell to learn more about Quiet comp.com sell to learn more about Quiet Light and to get some resources to Think Light and to get some resources to Think Light and to get some resources to Think Through exiting your business and now Through exiting your business and now Through exiting your business and now let's hear from Laura about the trophy let's hear from Laura about the trophy let's hear from Laura about the trophy she bought after selling me edger so I she bought after selling me edger so I she bought after selling me edger so I had already started uh a house had already started uh a house had already started uh a house renovation when the deal happened uh but renovation when the deal happened uh but renovation when the deal happened uh but I will say we do have Japanese toilets I will say we do have Japanese toilets I will say we do have Japanese toilets in every bathroom so maybe my Japanese in every bathroom so maybe my Japanese in every bathroom so maybe my Japanese toilets are my so this is a new one I've toilets are my so this is a new one I've toilets are my so this is a new one I've asked this question of a lot of people asked this question of a lot of people asked this question of a lot of people no not one person has said they bought no not one person has said they bought no not one person has said they bought toilets well done there you go there you toilets well done there you go there you toilets well done there you go there you go something you can enjoy every day yes go something you can enjoy every day yes go something you can enjoy every day yes indeed well congratulations again on indeed well congratulations again on indeed well congratulations again on your success Laura thank you if you're your success Laura thank you if you're your success Laura thank you if you're interested in reading a full recap of interested in reading a full recap of interested in reading a full recap of the process Laura went through she has a the process Laura went through she has a the process Laura went through she has a blog post titled exactly how I cold blog post titled exactly how I cold blog post titled exactly how I cold emailed my way to a life-changing exit emailed my way to a life-changing exit emailed my way to a life-changing exit that she published about a year and a that she published about a year and a that she published about a year and a half ago and we will link that up in the half ago and we will link that up in the half ago and we will link that up in the description if you enjoyed Laura's story description if you enjoyed Laura's story description if you enjoyed Laura's story about selling meat Edgar for seven about selling meat Edgar for seven about selling meat Edgar for seven figures you'll want to check out this figures you'll want to check out this figures you'll want to check out this next video about how I grew drip into a next video about how I grew drip into a next video about how I grew drip into a multi-million dollar business and exited multi-million dollar business and exited multi-million dollar business and exited for a lifechanging amount to lead Pages for a lifechanging amount to lead Pages for a lifechanging amount to lead Pages thanks for watching we'll see you next thanks for watching we'll see you next thanks for watching we'll see you next week