Stories Guides, tactics and trendspotting for founders who buy, sell and build
From the blog.
Technical due diligence for non-technical buyers
You can read a P&L but freeze at the codebase, and sellers know it. Here is a practical framework for assessing the technical health …
What add-backs actually mean, and how buyers verify them
Add-backs are the most misunderstood line in a small-business valuation. Here is what an SDE add-back really is, which ones buyers accept, which they …
The archive
Stop Trusting Analytics Vendors in Small Deals The analytics dashboard is the least reliable number in a small deal. Here's the trust hierarchy … How to Price a Digital Asset When Platform Risk Is Hiding in the Multiple The multiple isn't the answer. Durable profit is. Here's how to price an asset when the … Stop Calling It a Side Hustle. Start Treating It Like an Asset. The frame you use for your project decides whether it can ever be sold. Most builders … Is My Side Project Sellable Yet? The Pre-Listing Diagnostic Before you ask what your side project is worth, ask whether it's sellable at all. Five … Buildability Is Overrated. Transferability Is the Moat You don't own your product. You own how cleanly a stranger can run it without you. … What Makes a Digital Project Actually Transferable (And Why Most Aren't) Most digital project deals don't fall apart on price. They fall apart in the handover. You Don't Need a Big Exit. You Need a Repeatable One. The unicorn exit is a bad plan. Here's the better one.