{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Growing and selling an indie business | Michael Lynch (TinyPilot)","description":"Having quit Google in 2018 to bootstrap indie software businesses, Michael is known for writing very transparently about the ups and downs of his journey. After recently selling his hardware business TinyPilot for $600K, Michael returns to the show to chat about the misconceptions about running an indie business, the hardest part of selling a company, and why \u201chardware is definitely out\u201d for his next move \ud83d\ude02 Segments: (00:04:22) The complexity of selling a hardware business (00:08:49) Why &quot;hardware is definitely out&quot; for Michael's next venture (00:11:57) The evolution of TinyPilot (00:16:29) Inherent risks of a hardware business (00:20:53) The most terrifying 10 minutes of 2023 (00:24:52) The pricing strategy (00:31:48) Building the team (00:35:32) Recognizing the limits of solo founders (00:37:22) What and how to outsource? (00:42:45) Tracking hours and managing expectations (00:46:50) High-level math and profit projections (00:52:17) Working with contract manufacturers (00:54:12) How to know when to delegate? (00:58:16) Misconceptions about running an indie business (01:03:56) The importance of value capture (01:09:26) Identity and purpose after selling a business (01:13:40) How Michael arrived at the decision to sell the business (01:17:53) The process of figuring out the price (01:20:36) Negotiation and the final sale (01:25:09) Why due diligence was so stressful (01:30:09) The importance of buyer fit (01:34:16) Michael's new course &quot;Hit the Front Page of Hacker News&quot; (01:35:17) The power of &quot;Show, don't tell&quot; (01:38:14) Sneak peek of the course Show Notes: - Michael\u2019s blog post on the process of selling TinyPilot:&amp;nbsp;https:\/\/mtlynch.io\/i-sold-tinypilot\/  - Michael\u2019s excellent monthly retrospectives on building TinyPilot and beyond: https:\/\/mtlynch.io\/retrospectives\/  - Hit the front page of hacker news: https:\/\/mtlynch.io\/notes\/htfp-live\/ Stay in Touch: \ud83d\udc4b Make Ronak\u2019s day by leaving us a review and let us know who we should talk to next! hello@softwaremisadventures.com &amp;nbsp; Music: Vlad Gluschenko \u2014 Forest License: Creative Commons Attribution 3.0 Unported: https:\/\/creativecommons.org\/licenses\/by\/3.0\/deed.en ","author_name":"Software Misadventures","author_url":"https:\/\/softwaremisadventures.com\/","html":"<iframe title=\"Libsyn Player\" style=\"border: none\" src=\"\/\/html5-player.libsyn.com\/embed\/episode\/id\/31975457\/height\/90\/theme\/custom\/thumbnail\/yes\/direction\/forward\/render-playlist\/no\/custom-color\/054760\/\" height=\"90\" width=\"600\" scrolling=\"no\"  allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen><\/iframe>","thumbnail_url":"https:\/\/assets.libsyn.com\/secure\/content\/173971702"}