About this Episode
Tyler Tringas maintained his independence from beginning to end, starting with bootstrapping his SaaS company and then ultimately navigating the sale alone.
Tyler Tringas was adamant on establishing his SaaS business without the help of external capital.
He founded Storemapper—providing small businesses with a platform to showcase the location of their products in-store to curious consumers—in 2012.
By 2017, Storemapper was seeing $50,000 in monthly recurring revenue with a team of five. Ready to build his next business, Tringas made moves to sell the company, including moving himself away from day-to-day business operations, learning critical questions to ask potential buyers, and maintaining radical transparency to accelerate the sale.
In this episode, you’ll learn:
- How to know when it’s time to sell
- The importance of asynchronous communication and how to integrate it into your hiring processes
- How Tringas used radical transparency to attract buyers and accelerate the sale process
- The subjectivity of Seller’s Discretionary Earnings (SDE) and how it can impact your value
- Defining strategic and financial buyers for your company
When Tringas decided to sell Storemapper, his first step was to reclaim his time from day-to-day operations. Learning how to make a business less dependent on the owner is explored in Module 7, Hub & Spoke, of The Value Builder System™. Get started for free right now by completing Module 1.
About our guest
Tyler Tringas is a former Forbes 30 Under 30 cleantech economist turned self-taught software developer, entrepreneur, bootstrapper, and digital nomad. He built the first version of Storemapper on a single flight to Argentina, grew it while traveling around the world, and sold it in 2017. He invests in early-stage businesses as the founder and general partner of Earnest Capital. He lives in Rio de Janeiro, Brazil with his wife Anne, an American diplomat.