The Founder’s Guide to Selling Your Company
I sold 40% of my company and I got insanely lucky to find a partner who fit all the holes that I have in my approach. He's now the CEO and I'm the President. I was losing hope for a long period of time even though my business was solidly in the black with large cashflows and zero debt, because it's such a niche business where no one is interested (sports science).The guy dropped into my lap and made me a reasonable offer, which now "looks bad" because he's doubled revenue in six months. Not, obviously, that I'm complaining....Luck is a huge part of the whole process. I went months and even almost 2 years resigned to the fact that I would be turning in 80 hour work weeks while having two kids and a wife to try and please, and that my personal health would be the sacrifice. I am not sure how I'd survive or if I could even continue to run the company under those conditions for much longer than I did.I feel for the sole owner of a startup gaining traction and nearing an inflection point. I just wish I had more advice.