Colin Keeley - How/Why to buy or sell a business

In this episode we go full send on the business side of IndieRails and explore with Colin how buying/selling a small SAAS works (as small as a couple of hundred MRR to 5m ARR) and the differences in building a company and buying.Colin shares his knowledge and experience in going from many startup attempts to now buying multiple established software companies through his holding company Verne.  Colin Keeley on TwitterIndiePE.com (courses)ColinKeeley.com (writing)Verne (holding company)Scout, Ottomatik and Blinksale5:40 - Seller Financing8:40 - Selling a business9:02 - Why buy vs build?11:15 - Are you a starter or a scaler?12:30 - Getting experience running a saas as a developer13:34 - Buying/Selling example breakdown15:00 - ROI on buying a business (double your money slide)15:50 - Brokers and Marketplaces acquire.com16:05 - How to make your company attractive to PE17:25 - How much cash would you need to buy a business?18:23 - SBA Loans18:45 - How to raise money?19:40 - Constellation Software20:55 - Partial / Minority Equity21:30 - Due diligence21:54 - How do you find a partner?22:40 - Andrew Wilkinson & Chris Sparling23:50 - Due diligence on the deal side (course & community)24:30 - Working in an industry that you know. “All software tastes like chicken.”25:30 - Game plan after acquisition27:55 - Customer trust: in brand or person/founder?30:10 - Marketing and Using Twitter31:00 - https://typefully.com/ (writing threads)31:45 - Promotional channels32:45 - What should you be building right now?