Episode 6: Acquiring a Software Product w/Carl Diesing

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In episode 6, Carl Diesing shares the story of how his consulting firm went about acquiring a software product (Saas app).  We talk about running a consultancy while building or buying a product, and the appeal of diversifying out of pure consulting.  Carl walks us through the process of acquiring a software productand tells us what he had to pay attention to for it to work.

Bootstrapped Product Talking Points

  • why acquiring an existing product makes sense,
  • what to do first after the acquisition,
  • when to worry about ambitious consulting employees,
  • the importance of making your product good before you promote it,
  • how to keep your consulting practice running smoothly

Acquiring a software product seems strange to many founders, but Carl thinks it really can be a great way to get right into the market. If you’re already running a consultancy and can’t devote too many resources to developing your own, an acquisition can be a huge leap toward having something to sell.  We also talk about general consulting topics, and how to make sure your consultancy is in good enough shape to diversify into products.

We finish the show with Carl’s three bullet points for bootstrappers.  Whether you’re looking to acquire a software product or develop your own, you’ll find Carl’s advice helpful.  Are you looking to keep doing consulting or freelancing work?  Are you planning to just expand your efforts into product without leaving client work?  This episode will show you what that looks like.

DNL Omnimedia – Carl’s consulting company
Expens’d – Simplified expense tracking online

Ruby on Rails – Web application framework optimized for sustainable programming productivity
Ian Landsman – founder of Helpspot and Snappy
Andrey Butov – founder of Uberdeck
Bootstrapped.fm – Andrey and Ian’s podcast
Patrick McKenzie – founder of Bingo Card Creator
Brennan Dunn – founder of Planscope
Rob Walling – founder of Drip
Flippa – The #1 Marketplace for Buying and Selling Websites
Red Ocean strategy vs Blue Ocean strategy
SmallSpec – painless functional specifications; join the launch list

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