Episode 534 | A $4M Exit with Josh Pigford of Baremetrics

Startups For the Rest of Us

Rob Walling

Entrepreneurship, Management, Business, Marketing

4.9 • 819 Ratings

🗓️ 2 February 2021

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this episode, Rob talks with Josh Pigford in a first appearance since the sale of Baremetrics for $4m. They discuss his seven-year journey to build Baremetrics, the details of the sale, and Josh's post-sale, non-software aspirations. The topics we cover [02:42] Intros [04:26] Avoiding capital gains via qualified small business stock. [09:08] Josh's post-sale purchases and other dramatic life shifts [13:46] Changes at Baremetrics after sale [18:32] Weeks of cash to profitable in 8 months [23:20] Breaking through plateaus and product vs marketing for growth out of plateaus [30:13] What motivated Josh to start thinking about selling [32:58] Launching a new feature called Intros in 2020 [39:11] Laser tweets and post-sale aspirations Links from the show Episode 244 | Competition, Transparency and Funding with Baremetrics Founder Josh Pigford Baremetrics: Subscription Analytics & Insights for Stripe, Braintree, Recurly & more! I sold Baremetrics - Baremetrics Qualified Small Business Stock (QSBS) (mentioned at 04:26) Four Percent Rule How we went from weeks of cash left in the bank to profitable in 8 months (mentioned at 18:42) Revenue Dashboard - Baremetrics Demo I almost sold Baremetrics for $5m - Baremetrics Laser Tweets: Wooden Laser Etched Tweets If you enjoyed this episode, let us know by clicking the link and sharing what you learned. Click here to share your number one takeaway from the episode. If you have questions about starting or scaling a software business that you’d like for us to cover, please submit your question for an upcoming episode. We’d love to hear from you! Subscribe & Review: iTunes | Spotify | Stitcher

Transcript

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0:00.0	Thanks so much for joining me for another episode of Startups for the Rest of Us, really excited about this week.
0:06.1	It's episode 534. It's a kind of breaking news episode where I talk with Josh Pigford, the founder of Bear Metrics, about his recent sale of Bear Metrics for $4 million to Zenon Ventures.
0:18.9	Even though the sale was about two months ago, Josh has not been
0:23.1	doing podcasts or blogging. And so this is the first time that I know of that he has, you know,
0:28.5	come out in public and made comments about the exit. And I'm really happy and excited for Josh,
0:33.9	you know, to see that his seven-year journey of building their metrics wound up with
0:38.3	that kind of success for him. And I hope you really enjoy our conversation as we dive into the
0:43.1	specifics of the purchase price, how much he walked away with, how he is basically getting away
0:48.9	with paying almost zero taxes on the proceeds. And we talk about, you know, what he bought after the exit, how it's changed his
0:57.6	life. And then we look back at the last few years because Josh was on the show back in 2015.
1:01.8	And several, both exciting and stressful things had happened to him and Barometrics in the
1:07.4	ensuing, you know, five years or so. And we dig into each one of those.
1:11.6	Before we do that, I wanted to encourage you if you haven't gone to Startups for the rest of us.com
1:15.7	and gotten on our email list, there are a couple reasons to do so. One, every week we send
1:22.0	an email with expanded show notes. And so it's like almost like a detailed outline that is taken from the episodes
1:30.0	by our assistant producer. And so if you go to the website, you'll see a quick summary with links.
1:34.8	But if you are on our email list, you get an email every week with a full-blown outline that includes
1:40.7	time codes and just a really fleshed out version of the episode in writing
1:47.1	that means you don't have to go through the transcript. And if you want to refer back to things,
1:50.4	you can get it there. In addition, if you do send up to be on our email list, there are two
1:55.4	episodes that have never been released on this feed. And there's Rob Solo episodes where I talked in one about
2:02.5	eight things you must know when launching your SaaS app. And the other one is 10 things you
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