Who’s Buying and What They Want
Different buyer profiles value different things:
Individual Operators
Seek low-maintenance products with documented SOPs and predictable support.
Micro-PE Funds
Focus on SDE multiples, quick efficiency gains, and bolt-on synergies.
Strategic Buyers
Look for tech, audience, or channel advantages that justify higher multiples.
Decision Checklist Buyers Use
- Churn trend and net revenue retention over the last 12 months.
- Customer concentration and contract enforceability.
- Gross margin, support load, and infrastructure resiliency.
- Growth channels that are repeatable and cost-effective.
- Founder dependence: time commitment, code ownership, key relationships.
Proof Points to Prepare
- Clean MRR reports and GAAP financials.
- Uptime logs, incident reviews, and security practices.
- User engagement and feature adoption dashboards.
Positioning to Win
- Show moat: integrations, data network effects, or niche expertise.
- Quantify ROI with case studies and payback calculations.
- Present a 90-day optimization plan for the new owner.
Avoid These Pitfalls
- Overstating pipeline without probabilities.
- Mixing SaaS and services revenue in one number.
- Leaving undocumented code or vendor relationships.
Map Your Next Moves
Convert buyer criteria into an action plan before you list.
Improve the Story
- Refresh your pitch deck with ARR, churn, and cohort charts.
- Create SOPs for onboarding, support, and releases.
- Offer transition hours tied to a short earn-out.
Improve the Numbers
- Shift to annual contracts to boost cash flow.
- Retire unprofitable features or SKUs.
- Test a second acquisition channel to diversify risk.