Here are some tips for selling your company from the founders of Solo Stove:
Please note that these tips are based on the experiences of the Solo Stove founders and may not be applicable in all situations.
When the founders of Solo Stove initially tried to find buyers, they faced a few issues:
Lack of infrastructure and team: At that time, the company was run by just the two founders, and potential buyers expressed concerns about the lack of a proper company infrastructure and team .
Perception of not being a real business: Some potential buyers didn't consider Solo Stove a viable business because it was primarily operated by two individuals working from their homes .
Difficulty in gauging sales and profitability: Initially, Solo Stove's sales and profitability were not widely understood, which made potential buyers hesitant .
Despite these initial challenges, the founders were able to successfully overcome them and eventually find buyers for the company by building a capable team, focusing on profitability, and maximizing the value of their sellable assets .