Andrew Wilkinson & Tiny Deal Criteria: What We Buy, Why, and How to Get an Offer Fast

Andrew Wilkinson & Tiny Deal Criteria: What We Buy, Why, and How to Get an Offer Fast is the straight answer founders ask me for when they want a quick, clean exit without drama.
You want to know if you’re a fit, what to send, and how to get to an LOI fast.
You want founder-friendly terms, not a 6-month slog.
I’m laying out exactly how I evaluate deals for Tiny and what you can do today to get an offer quickly.
For more on cutting noise and moving faster, see our blog post: Delete 95% of Your Email.

What We Buy: The Simple, Profitable, Durable Stuff

I buy businesses that throw off predictable cash and don’t need heroics to run.
I like boring over flashy because boring scales without chaos.
Typical fits: profitable SaaS, software-enabled services, niche marketplaces, productized agencies, and content brands with real monetization.
Quick gut check: $1M+ annual profit, clean churn/retention, low customer concentration, and a team that can run without you.
For more on my taste for simplicity and compounding, see our post: A $3,600 Keyboard and a $66 Million Dollar Investment.

The Minimum Financial Profile That Gets a “Yes”

I’m flexible on category but strict on fundamentals.
I look for $1M–$20M EBITDA, 30–80% gross margins, and TTM stability with a clear path to hold or improve.
If you’re earlier but printing cash with clean unit economics, I still want to see it.
If revenue is lumpy but margins are great and concentration is low, I can work with it.

Why Founder-Friendly Matters (and What It Means in Practice)

I optimize for speed, certainty, and low-friction terms.
You get a short diligence list, decisive feedback, and realistic integration asks.
I’d rather close a fair deal fast than chase a perfect deal slowly.
For more on clear communication style, read: I Don’t Respond to Long Emails.

Business Models I Avoid (And Why)

I pass on businesses where outcomes depend on a single platform, a single whale customer, or the founder’s personal brand to sell.
I’m cautious on ad-only media with algorithm risk, complex hardware supply chains, or thin-margin agencies without productization.
If your moat is “we hustle harder,” that’s a pass.

How I Define “Durable Cash Flow”

Durability means cash keeps arriving even when growth slows or the market wobbles.
I check retention curves, contribution margin under stress, and pricing power.
If I can pull back paid spend and still print cash, that’s durable.

The Moat I’m Actually Willing to Pay For

I pay for moats that survive copycats.
Data lock-in, workflow depth, switching costs, network effects, and brand trust are moats.
A clever landing page is not a moat.
Show me the thing your smartest competitor would struggle to replicate in 12 months.

Team, Process, and How Replaceable You Are

I want to see managers, SOPs, and a cadence that makes outcomes predictable.
If the team needs your daily presence, we’ll plan a short handover and shore up leadership.
The more replaceable you are, the simpler the deal.

The “Offer Fast” Package You Can Send This Week

I can move quickly when you send a tight package.
Give me a one-page email plus an 8-slide deck with numbers I can trust.
Keep storytelling concise and concrete.
For help on narrative that lands, see: Never Tell, Always Storytell.

The One-Page Email That Works

I read and decide in minutes when your email is clear.
Use this structure.
Line 1: One-liner on what you are and who you serve.
Line 2: TTM revenue, TTM EBITDA, growth rate, and margin trend.
Line 3: Retention, concentration, and why it’s durable.
Line 4: Your ideal terms and timing to close.
For more on keeping messages short, read: I Committed Email Suicide.

The 8-Slide Deck I Actually Read

I don’t want 40 slides.
I want truth and signal.
Slides: Snapshot, 3-year financials + TTM, unit economics, customer mix, moat, org chart, risks, and the deal you want.
Bullet the facts.
Label every chart.
No fluff.

Financial Hygiene: What “Clean” Looks Like

Clean beats clever.
I want reconciled P&L, a cash-to-accrual bridge, and documented add-backs.
I check that revenue ties to bank and that deferred revenue, AR, and refunds make sense.
Give me a one-page summary of assumptions.

Unit Economics and Retention I Trust

Show me contribution margin per product or cohort.
Show me 12-, 24-, and 36-month retention curves with commentary.
Show me why customers stay and how price changes affected churn.
If you can’t produce this in a day, build it now.

Customer Concentration: The Real Risk Line

Over 25% of revenue in one customer slows me down.
If you’re concentrated, show contracts, renewal history, and alternatives in pipeline.
I’ll price the risk, but I won’t guess.

Tech, Data, and Vendor Risk I Check Fast

I scan your stack for single points of failure.
I want admin access hygiene, backups, and vendor redundancy for mission-critical tools.
If the app breaks when one engineer goes on holiday, we’ll fix that in the transition plan.

Legal, IP, and Compliance Readiness

I need clean IP assignments, contractor agreements, and no lurking license issues.
If you’ve used freelancers, get retroactive assignments signed before LOI.
If you sell globally, show me your tax and data compliance posture.

Valuation Reality: Multiples Are a Starting Line

Multiples set the ballpark.
Terms decide your take-home.
I’ll pay more for certainty, durability, and handover clarity.
You’ll net more with clean working capital, limited indemnities, and minimal earnouts.

Terms I Prefer (And Why They Help You Close Faster)

I like short diligence, limited reps and warranties, a sensible working-capital peg, and quick funding.
I’ll consider small earnouts when they align incentives, not when they replace price.
I’m open to rollover equity if you want a second bite and I believe compounding is likely.

The Fast-Track Diligence Checklist

I move fastest when your data room is ready on day one.
Upload first: TTM P&L tied to bank, top-20 customers by month, churn and cohorts, AR/AP aging, contracts, and org chart with roles.
Answer questions in a single thread to avoid drift.
For more on staying focused, visit the Newsletter and Podcast.

The 30-Day Timeline to LOI and Close

I can issue an LOI in 7–10 days when your numbers are tight and your ask is clear.
I can close in ~30 days with decisive communication and no surprises.
Your calendar should show daily progress until funds flow.
If we stall, it’s usually because something material wasn’t ready.

Red Flags That Slow or Kill Deals

Hidden liabilities, messy cash recognition, and “trust me” add-backs are deal-killers.
Algorithm-dependent traffic without a moat is risky.
Founders who oversell and under-document lose credibility.
Fix the basics first and the deal gets easier.

Post-Close: How We Protect Your Team and Momentum

I like to keep teams intact and give them cleaner goals, tools, and cadence.
We set a 90-day transition with weekly KPIs and clear ownership.
You exit proud, paid, and unburdened.
For more on who I am and what I value, see the About page and the post 02: Journaling With AI for how I think about clarity.

FAQs

What revenue and profit do you really need to see to engage quickly?
I engage fastest around $1M+ in annual profit with stable TTM and clean unit economics.

Do you buy sub-$1M profit companies?
Yes when durability is obvious and the path to scale is credible.

How fast can I get an LOI?
In 7–10 days if your one-pager and deck answer the core questions and your data room is ready.

What’s the biggest blocker to a fast close?
Messy numbers and undisclosed risks that appear in week one of diligence.

Will you do deals with customer concentration?
Yes with contracts and history, but the risk will be priced into terms.

Do I need audited financials?
No, but I do need reconciled statements with a bank tie-out and clear add-backs.

How much rollover equity do you want me to take?
Only what you’d happily buy today.
Rollover is about shared conviction, not papering over price.

Do you pay for growth potential?
I pay for durable cash and credible levers.
Show real pricing power, retention, and a clear roadmap.

What’s your view on earnouts?
Small, short, and specific earnouts can align incentives.
Big earnouts usually misalign and slow deals.

Will you keep my team?
If they run the machine, yes.
I prefer continuity with clearer focus and better tools.

How should I communicate the sale to customers?
Use a one-page note focused on continuity and benefits.
Keep it human and concise.
For tone, see: Never Tell, Always Storytell.

Conclusion

Andrew Wilkinson & Tiny Deal Criteria: What We Buy, Why, and How to Get an Offer Fast is simple.
Bring me a durable cash machine, clean numbers, and a concise story.
Send a one-page email, an 8-slide deck, and a ready data room.
Ask for fair terms and a ~30-day close, and we can likely do it.
Get Your Copy of Never Enough at https://www.neverenough.com/

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