Thursday, 18 August 2011

...and thanks for all the fish

We've sold the company!

When we started this company, we set a very clear goal; sell the company and get on with something else within three years. Well none of us could have predicted, that we'd be made an offer to sell the company in not three years, but eleven months.

That's what has happened, and after a little thought, we decided to take the offer. Some entrepreneurs may think that we've sold too soon, but I disagree. Creating a company with the express purpose of selling it for cash is not like creating an empire. It's a simple transaction where you compare what you've put in with what you get out. There are no hard and fast rules about how long a start-up has to exist, and we know that we're making a fantastic return for less than a year's work.

So, what lessons have I learnt?

I've confirmed that a start-up can be created in a controlled way where decisions are justified and made rationally, where chaos is not confused with creativity, and where clients don't dominate direction.

I'm certain that creating a software product company from scratch isn't an expensive business if you have the technical skills within the ownership of the company. If you're going to try to create a software company without the very best technology brains sitting on the board, then you're going to pay more, take longer, and incur more risk.

Be lead by the people who are passionate about the product, never forget that sales are a consequence of creating value not a goal in themselves, and know that your collective brains are your biggest asset.

So long, and thanks for all the fish.

The end.

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