Our bootstrapped SaaS is growing at 3-5%/month and recently reached 7 figures. Was launched 4 years ago specialized on an under-served niche that for most it was too small.
Since then that segment grew and lots of competitors appeared on the market, some grew a bit faster than us because they had better marketing (we did no marketing) and a bit better UI/UX, even though we were the first.
In the last year, 2 of the new competitors that are close to our size got acquired and even if we had no plan to sell it, I'm wondering if we shouldn't do the same mostly because of the extra help in hiring, managing the business, etc.
we're only 3 people, the business is very profitable but hiring is very challenging. As far as I know, those acquired businesses got access to an already built team of designers, developers, marketers and sales people..... something that will be hard for us to do. I'm afraid that our competitors will eat us alive with those resources at their disposal and when we are prepared to sell the business, we'll be too far away from them.
Any ideas on how to handle this? Is there a way to do both, like a partial exit and get access to an already built team?
Since then that segment grew and lots of competitors appeared on the market, some grew a bit faster than us because they had better marketing (we did no marketing) and a bit better UI/UX, even though we were the first.
In the last year, 2 of the new competitors that are close to our size got acquired and even if we had no plan to sell it, I'm wondering if we shouldn't do the same mostly because of the extra help in hiring, managing the business, etc.
we're only 3 people, the business is very profitable but hiring is very challenging. As far as I know, those acquired businesses got access to an already built team of designers, developers, marketers and sales people..... something that will be hard for us to do. I'm afraid that our competitors will eat us alive with those resources at their disposal and when we are prepared to sell the business, we'll be too far away from them.
Any ideas on how to handle this? Is there a way to do both, like a partial exit and get access to an already built team?