Ich habe Bake verkauft

Summary

In this video, Julian reflects on the challenges he faced over the past 15 months while managing his company, big. He shares the struggles, including a legal dispute and financial turmoil, and his decision to sell the company to GS Technologies. Julian emphasizes that his priority has always been to ensure the security of his employees and customers, and the sale represents a fresh chapter. While he steps away from the business, Julian plans to focus on his family, fitness, and future endeavors, while remaining engaged in the crypto world. This marks a new, optimistic phase for both Julian and the company.

Takeaways

• 😀 The past 15 months have been the toughest, most challenging, and most educational of the speaker's life, primarily due to business-related issues.
• 😀 The speaker was personally invested in saving the business, using their own capital to cover expenses and fight a winding-up application in court.
• 😀 The winding-up attempt by a former business partner caused significant damage to the company, but the Singaporean legal system ultimately sided with the speaker, ensuring the company's survival.
• 😀 After resolving the legal issues, the speaker bought out the co-founders and became the sole owner and director of the company by May.
• 😀 The company focused on stabilizing revenue, cutting costs, and stopping the financial bleeding during the following months (June-August).
• 😀 In September and October, the speaker considered both selling the company and continuing it independently, eventually leaning toward a sale due to personal and professional reasons.
• 😀 The speaker rejected the idea of selling just the customer database to competitors, as they wanted the company’s legacy to be preserved and continued with a strong vision.
• 😀 The company was sold to GS Technologies, a financially strong, publicly traded firm with expertise in the crypto space, which aligned well with the business's long-term potential.
• 😀 The speaker emphasized the importance of continuity for customers, employees, and the platform’s future under the new leadership of GS Technologies.
• 😀 The speaker intends to take some time off, focusing on family, health, and fitness, but will remain involved in the business's transition and continue sharing content related to crypto, investing, and entrepreneurship.

Q & A

What were the major challenges Julian faced in the past 15 months?

Julian faced significant challenges due to a winding-up application filed by his former business partner. This led to a sharp drop in the company's value, severe financial strain, and legal battles. Despite this, he invested his own capital to keep the business afloat and fought the case in court.

How did Julian manage to save the company from the legal and financial difficulties?

Julian used his personal funds to cover the company’s debts, including the DPDC, and took legal action to defend the company. His efforts eventually resulted in a favorable ruling from the Singaporean courts, which helped stop the bleeding and saved the company from collapse.

What steps did Julian take after regaining full control of the company in May?

After taking full control of the company in May, Julian focused on a 90-day strategic plan to stabilize the business. This involved increasing revenue and cutting costs to achieve a cashflow-neutral position, which helped stop the financial bleeding and set the stage for future growth.

Why did Julian decide to step away from his role as CEO of Bake?

Julian decided to step away from his role as CEO to take a break and focus on his personal life. After spending more time with his family, he realized that his heart was no longer fully invested in the crypto business, and he wanted to refocus on personal growth and health.

What factors influenced Julian's decision to sell the company?

Julian was motivated to sell the company after realizing that the buyer, GS Technologies, was a good fit for Bake’s future. The company is financially strong, has extensive experience in the crypto sector, and would provide a stable future for the platform and its customers. Julian wanted to ensure continuity and future growth, which he believed would be best achieved through this sale.

What was Julian's view on the potential value of the customer base during the sale?

Julian mentioned that if he had sold just the customer base, he could have received a higher price. Crypto exchanges and platforms were willing to pay large sums for acquiring customers. However, he chose not to go down that route because he valued the platform and the relationships with his customers.

What made GS Technologies stand out as the preferred buyer for Bake?

GS Technologies stood out because it is a publicly traded company, which gives it financial stability and credibility. The company also has strong expertise in the crypto sector, and its leadership showed a deep understanding of the space, which aligned well with Julian's vision for the platform.

How does Julian feel about the future of Bake after the sale?

Julian is optimistic about Bake’s future after the sale. He believes that GS Technologies will bring the right leadership and vision to ensure continued growth and success. He feels confident that the company and its customers are in good hands, and that the platform will benefit from GS Technologies' resources and experience.

What is Julian’s plan for the future after stepping down as CEO?

Julian plans to take some time off from business ventures to focus on his family, health, and personal growth. He has expressed interest in continuing to invest in crypto and stocks but does not have immediate plans to start a new business. He also remains active on social media, where he will share his thoughts on mindset, investing, and entrepreneurship.

What kind of content can we expect from Julian in the future?

In the future, Julian will continue to share content related to crypto, investing, and entrepreneurship on his social media. He plans to provide insights into mindset, personal growth, and his investment strategies. Julian may also explore topics related to the future of technology and business, but he has no immediate plans to launch a new venture.