Does Anybody Else Feel Like When It Rains It Pours? - This might be a really dumb question but after my experiences recently I've come to feel like for some reason when it comes to being an entrepreneur there's almost this crazy domino effect that seems to take place. It ... See More could all just be a coincidence or the effect of setting multiple things into action but take my most recent experience since leaving the company I worked for. I left and started my own SEO company and things were barebone dry. I had spent hours upon hours calling to companies who might be interested, sent out thousands of emails to no reply, and worked through social media groups day and night just to even get a conversation that would go past "Hey my name is...." and for the longest time I had absolutely nothing as nobody was willing to deal with me or even hear me out.

Then just like I mentioned in my last post, I landed my first client and it almost seems that the world has begun to turn in my favor. Since landing that client I'm not sure if I'm speaking differently, standing a little taller, or whatever it is but I've been able to book my next 5 meetings with potential clients whereas before I couldn't even get people to hear me out. Now am I saying that all of them are going to sign, But it is a huge step from where I was previously and I'm not sure if this is a similar feeling for anybody else but it almost feels like when it rains it pours because the tides are changing in my favor and hopefully I can continue to ride this wave and make a real living for myself doing something I enjoy. But does anyone else feel similar to this?

Where to make rich friends? - I'm starting to realize that to get rich, one needs to hang out with rich people but I'm not sure where to meet them. The only places I can think of are Silicon Valley and New York (no I don't know where in New ... See More York they are).

Why have rich friends?

- If they didn't make the money themselves, they at least know people who did can learn from them
- They're the ideal customer because they can pay more for the same product

Edit: This post generated a very interesting conversation. Thank you all for sharing your insight. Of course, the friendship would come first before that fact they are rich. My apologies if someone found this crude.

I sold 2 micro startups in 2023—here's what I learned - I used to believe a $300 MRR startup was worth nothing. I was so wrong….

* In March 2023, I sold my first startup GameWidget: $80 MRR for $4,300.
* 3 weeks ago, I sold my second startup Habits Garden: $450 ... See More MRR for $10,000.

Your weekend project can change your life. Let’s talk about what it’s worth and how to sell it.

​

# Valuation

Startup valuation can be very complicated. I’m going to assume we’re alike:

* You’re a solopreneur or have a co-founder
* Building software, AI tools, or mobile apps (no info products)
* Shooting for 5/6/7 figures valuation (no unicorn)
* Low operating cost (hosting, OpenAI credits, etc.)


Here’s the over-simplified formula to calculate your project worth:
**Valuation = Annualised Revenue x 3**
Let’s take a few examples:

* A habits tracker with $300 MRR could be sold for $10,800 (300x12x3)
* A logo maker with AI launched 3 months ago and made $4,000 so far could be sold for $12,000 (4,000x3)

Note that Monthly Recurring Revenue (MRR) can be extrapolated to a year for the habit tracker but the one-time payments for the logo maker with AI can’t.
You can dive deeper into startup valuation. I don’t. It gets overwhelming and gaining 5% here or there isn’t worth the hustle. I’d rather build more apps.
Imagine you grow a weekend project to $1,000 MRR… **You have a 2-year pass to quit your job, move to Bali, and build apps full-time.** Congrats.


# Is it time to sell?


It’s a tough question. For me, it comes down to 3 criteria:


* Can I 10x the revenue in a year?
* Do I care about the market?
* Do I need money right now?


It’s tempting to enjoy a juicy $500 recurring revenue. But keep in mind that every abandoned business goes to 0 quickly.
When you sell a startup, you get temporary financial freedom (and less stress) along with more time to focus on a new project.


​

# The acquisition process


You made up your mind, listed your startup, and got interested buyers. What’s going to happen if someone decides to buy?
**1. Paperwork**


First, you’ll do boring paperwork like signing a Letter Of Intent (LOI) and an Asset Purchase Agreement (APA). The latter is a summary of what’s going to be bought, like your Intellectual Property (IP), marketing assets (like a Facebook page), etc. You might also sign a non-compete agreement. Just make sure it’s not too broad and allows you to build apps you care about.
Platforms like Acquire will do the paperwork for you. You don’t have to read 20 pages of boredness, ask ChatGPT to explain like I’m 5 to make sure you know what you’re signing. If you don’t use Acquire, ChatGPT is also really good at making the paperwork for you.
**2. Payment**


Second, the buyer will secure a payment through a third party like Escrow. Once the money is secured, you have to send the assets to the buyer.
**3. Transfer**


Lastly, transfer the domain name, database, credentials, etc (more on that below). The buyer will inspect everything and tell Escrow to move forward with payment. Congrats, you got acquired!


# How to transfer the assets


Some platforms don’t allow you to transfer assets. For instance, you can’t transfer an AWS S3 bucket, a Mailgun email-sending domain, or a Google Cloud Console project.
Should you give your credentials and move on? I wouldn’t.
Chances are you use these platforms for other projects and sending your credentials isn’t an option. In that case, explain it to the buyer and ask him/her to create his own account/API keys.


# Tips to sell faster

​

* Ditch buyers asking a million questions. If they’re highly skeptical, they won’t buy and you’re losing your time
* It all comes down to trust so build your startups in public: you don’t know it yet but potential buyers are following you and can wire the money to your bank account without asking much (that was the case when I sold Habits Garden). You also save the platforms’ listing fee (4% on Acquire, for instance)
* Don’t be afraid to follow up and tell buyers you need an answer within 3 days.
* If you’re selling on Acquire, ensure your listing is 100% ready before publishing. All buyers on the platform will be notified within 24 hours when most opportunities land.
* If you’re selling on Acquire and no one is interested after a month, lower your price a bit. Acquire tends to lift your listing up when significant edits are made.


Selling your side project can give you the mental clarity to work harder on your solopreneurship journey. Dive in!

#ETHUSD Wagmi

#ETHUSD It's happening

#ETHUSD Washington post's portrayal of Sam bankman in court

#ETHUSD It's over guys... It's finally over. SBF is no more.

Thoughts on $AMD? - Up 7.5% after yesterday earnings. Do you think this is a bounce or a fake pump?

Thoughts on Lucid? -
Bought in at around $5.50… lucid is currently breaking new 52 week lows every week…. Not feeling optimistic about earnings call. What do you guys think?

Lost over 15K in savings by doing this - Writing this to remind myself what an idiot i was with my investment account.

I put some savings aside since before covid and then I started "playing" with options. I thought i had figured out how to deal with this putting
stop ... See More loss orders to manage risk and avoid big losses. However, I got assigned stock for a short leg of a vertical spread I had, when AFRM started dropping in 2021-22. I sold the long puts and decided to wait and be more flexible with my risk tolerance, after all the market would always bounces right? Well i was very wrong. Timeframe is really important and decided to ignore that thinking I had enough time for the stock to bounce a little and recover part of my losses.
Then the market started to tank... I lost control of it after it went down by 10K and by the time i was down 15K and I had lost more than half my savings, my mind went numb to losses. I started trying to pick long only options to recover something but since then I rarely got a good win to help me but me back on track. A lot of the stocks I invested in never bounced back, all because I was following the trends and investing in what other people invest.
I would blame it on the news and stock research, sites sometimes gaslighting stocks that seem solid but ultimately it all comes down to one's research and self control to manage risk.
Today I got f'ed by $ON, which was a very solid stock based on my research. Not a huge blow compared to AFRM, but this time I give up. I will leave my account alone for a while and let it be, hoping for a stock market rally to cut down my losses...

Needed to rant, opinions and feedback welcome as there's nothing left to do but keep saving and grinding.

Apple earnings are out — here are the numbers

Why hasn’t Dillards crashed to its 2020 lows yet? - Dillards appears to be the only large mid-cap department store that has yet to come off its 2020 highs or lows. Most other big name dept stores have retraced including Macy’s, Nordstrom, and Kohl’s. Why is this?

Convince me not to average down on Disney

U.S. stocks are rising ahead of Fed meeting, jobs report, Apple earnings

Ford shares fall 9% after earnings underline worries about costs and EV plans