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Monthly lessons from my journey buying and building businesses. Topics include leadership, entrepreneurship, and technology.

Read more at www.karllhughes.com

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May 15th 2023

Buying a Business: Acquiring The Podcast Consultant

In 2022, my company, Draft.dev was growing rapidly. My team was solidifying and I had less and less to do. I knew that building a business that could thrive without me was the goal, but as that reality got closer, I started having an existential crisis.

At first, I thought about selling Draft.dev to take a year off. It seemed like it would be fun to have no professional responsibilities and maybe work on some creative projects, but I knew I’d get bored long before my cash reserves dried up.

Then I started thinking the other direction.

What if instead of selling the business, I used the cashflow from Draft.dev as leverage to buy another company?

Read the rest of the story on my website.

karllhughes.com
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Karl Hughes

Thanks for signing up for my newsletter! My name is Karl. 👋

Every week or so I put together a collection of links and commentary based on my experience as a startup CTO and founder. While you wait the next issue, here is some reading material for you:

Download, Starting a Software Startup

If you're building a startup, I wrote this short ebook on all the things that founders need to know. It walks you through the key milestones including:

  • Coming up with an idea
  • Validating with real customers
  • Building an MVP
  • Raising funding
  • And more!

The book is free for subscribers, so download your copy today.

Books I Recommend

If you're looking for more great reading material, here are a few of my favorite books:

  • The Best Startup Books for Founders
  • Essential Reading for Startup CTOs
  • Books for Software Engineering Managers
  • The Best Management Books
  • Software Engineering Books Every Developer Should Read

About Me

And in case you're curious, here's a bit more about me:

🦈 In 2013, I became the first engineer at Packback where I hired and managed the engineering team. We went on to raise money from Mark Cuban on Shark Tank, and grow the team to about 30 people by the time I left.

🏫 In 2016, I joined The Graide Network as their CTO. I spent 4 years building their platform and engineering team where we helped teachers deliver high-quality feedback to their students.

📣 In 2018, I started speaking at conferences and created CFP Land as a side project to help technology professionals find opportunities to speak.

📝 In 2020, I left my role at The Graide Network to start my own company, Draft.dev. My team and I create technical marketing content for software companies.

Finally, if you'd like to connect on Twitter, feel free. 🐦

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