Dan walks Exitwise Managing Partner Todd Sullivan through the full arc: co-founding Atension out of Trinity University and selling it to Rare Medium at the peak of the internet bubble, then starting Denim Group in San Antonio in 2001 with Sheridan Chambers and John Dickson. He explains the four-business evolution that took Denim Group from custom software dev to a leading application security firm, the creation of the ThreadFix vulnerability management platform, the asset sale of ThreadStrong to Veracode in 2015, the minority investment from Wipro that started as a full acquisition attempt, and the 2021 sale to Coalfire.

Dan also breaks down what nobody tells you about M&A: why "every organization is screwed up in a way that its stakeholders are comfortable with," how bankers reframe your financials to lift multiples, why storytelling is the real lever in a strategic deal, and the brutal reality of running your day job while taking 3:30 a.m. diligence calls with offshore counsel. He talks honestly about the founder-to-VP identity shift, why he never wanted to be "the guy who used to be the guy" twice, and why he now spends his time advising cybersecurity and DevSecOps founders through the Exited Founder Marketplace.

Whether you're a cybersecurity founder fielding inbound offers, a software CEO weighing strategic versus PE buyers, or a first-time seller trying to understand the emotional rollercoaster of diligence, this conversation is full of hard-won lessons on deal structure, advisor selection, earn-outs, and what it really feels like to put the backpack down.

Learn more about Dan and connect with Exitwise: https://exitwise.com/founders/dan-cornell
Thinking about selling your business? Visit https://exitwise.com

In this episode, Vik walks Exitwise Managing Partner Todd Sullivan and Brian Dukes through the full journey: spotting the SMB document gap that DocuSign and Adobe ignored, using a phantom equity program to retain key employees without issuing stock, and the deliberate decision to hire VistaPoint Advisors, bankers who understood the nuances of SMB SaaS churn that a standard model would have penalized. Dropbox entered the process quickly, having already acquired DocSend and HelloSign to build a document workflow group aimed squarely at competing with Adobe.

Vik also gets into what he'd do differently: he and his co-founder were seen as the face of the business externally, which raised buyer concerns about durability post-exit. His biggest lesson? Build a strong, visible number two early, not just to run the day-to-day, but to show up in front of buyers and prove the business isn't founder-dependent. He also shares a sharp framework for reading buyer intent mid-process: one runner-up that seemed product-focused turned out to care most about FormSwift's marketing funnel, which completely changed how Vik repositioned for that conversation.

Whether you've been building for two years or ten and are starting to wonder if now is the right time to sell, this episode is packed with hard-won insight on bootstrapped exits, deal structuring, and how to position your company as the piece a strategic acquirer didn't know they were missing.

Work with Vik on your exit journey: https://exitwise.com/founders/sathvik-tantry
Thinking about selling your business? Visit https://exitwise.com

In this episode, Colin shares the full story with Exitwise Managing Partner Todd Sullivan: from fixing computers at 15 in Pennsylvania, to Microsoft, to launching Bang with Friends at the dawn of the smartphone era. He breaks down the costly mistake of going into M&A pre-revenue, how fast things changed once he finally turned on monetization (zero to $75K/month), and what it felt like to watch his own company get divested like a footnote during someone else's IPO process.

Colin also gets into the psychology of M&A that most people skip over: why founders need an honest mirror held up to them before they go to market, how he now helps other founders grow and exit smarter, and how his Amazon bestseller Outrageous Startup Growth started as a way to document his playbook and ended up helping him scale the business beyond himself.

Whether you're pre-revenue and wondering when to monetize, stuck navigating your first acquirer conversation, or trying to understand what buyers are really looking for, this one's packed with hard-won lessons from someone who's been on every side of the M&A table.

Learn more about Colin and connect with Exitwise: https://exitwise.com/founders/colin-hodge

Thinking about selling your business? Visit https://exitwise.com

Get Colin's book Outrageous Startup Growth: https://colinhodge.com 

In this episode, Andrew shares the full story with Exitwise's Todd Sullivan and Stephanie Horwitz Reuveni: how a 95% annual driver turnover rate in trucking sparked the idea, how anonymous SMS-based feedback gave a voice to workers who'd never sit at a desk, and what happens to a "painkiller" product when the market turns it into a vitamin.

Andrew also breaks down how he built a targeted buyer list of 30 to 40 strategic acquirers from a 400-company spreadsheet, why strategics valued WorkHound so differently than PE firms, and what it really feels like to hand over your product and team piece by piece as a technical founder, giving away your toys, one at a time.

If you're building toward an exit or navigating a market shift, this one's full of honest perspective on timing, buyer strategy, and the psychology no one warns you about.

Want Andrew in your corner when you sell? Connect with him on the Exitwise Exited Founder Marketplace: https://exitwise.com/founders/andrew-kirpalani

Thinking about selling your business? Visit https://exitwise.com

In this episode, Rachel talks about what it was like to sell her second business to a competitor she'd been building a relationship with for years, she shares the emotional reality of running an M&A process while simultaneously managing day-to-day operations, and talks about the steep learning curve of selling to a listed company. 

Rachel also opens up about life after exit, from a period of deep self-discovery to building The Grafter, a methodology and service designed to help founders grow revenue, raise capital, and prepare for an exit on their terms. After approaching 42 companies and signing 21, Rachel proved the model works. Today, Rachel is paying it forward as an Exited Founder with Exitwise, bringing her experience as a two-time exited founder to help fellow entrepreneurs navigate M&A transactions. She and Brian also announce a brand-new global partnership between Exitwise and The Grafter. 

If you're a founder thinking about selling your business, this one's for you.

Learn more about Rachel: https://exitwise.com/founders/rachel-murphy
Thinking about selling your business? Visit https://exitwise.com

In this episode, Shannon talks about choosing buyer fit over the highest price and what it meant to protect the legacy of a franchise she'd built for two decades. She shares the emotional reality of letting go, how she leaned on an advisory board of franchise industry heavyweights to navigate the deal, and what the transition looked like on the other side as she stayed on as a board member while watching her company continue to thrive under new leadership.

Shannon also dives into what's changing in franchising right now, from the rise of platform companies bolting on brands to how AI is reshaping the landscape for emerging franchise businesses. Today, Shannon is paying it forward as an Exited Founder with Exitwise, advising fellow founders through M&A transactions and bringing 20 years of franchise industry relationships to every deal. If you're a franchise owner thinking about selling your business, this one's for you.

Learn more about Shannon: https://exitwise.com/founders/shannon-wilburn
Thinking about selling your business? Visit https://exitwise.com

In this episode, Sean shares the full story with Exitwise Managing Partner Todd Sullivan: why he tried (and failed) to buy his former employer first, how he built an MVP that changed the HR tech integration space, and the moment he realized his seven-client startup had something a public company desperately wanted; not revenue, but software and people.

Sean also breaks down how bringing in a specialist investment banker moved the valuation from 2x to 6x, how he structured an earn out that created multi-generational wealth, and why five of his team members walked away as millionaires.

Whether you're building toward an exit or just curious what it really feels like to sell your company, this one's full of real talk on negotiation, the emotional rollercoaster of M&A, and how to protect yourself on the other side of a deal.

Learn more about Sean and connect with Exitwise: https://exitwise.com/founders/sean-mckenna

Thinking about selling your business? Visit https://exitwise.com

This show is built on one simple idea: founders helping founders. Every episode features a successful Exited Founder who has been through the highs, the lows, and the life-changing moment of selling their business, and is now paying it forward by sharing everything they learned along the way.

You'll hear first-hand exit stories from founders across dozens of industries, what they wish they did differently during the M&A process, their takes on current trends, and how they're using their experience to help the next generation of business owners navigate their exit strategy and maximize the value of their company.

Every guest is an Exited Founder who now works as an M&A advisor with Exitwise, bringing deep industry expertise and real networks to help founders like you get the exit you deserve. Whether you're thinking about selling your business, preparing for an acquisition, or just starting to explore what an exit could look like, this podcast is for you.

Meet our incredible experts and explore the Exited Founder Marketplace at exitwise.com/exited-founders

Listen wherever you get your podcasts.

Nathan Hirsch, a serial entrepreneur, shares his journey of building and selling his company, FreeUp, which utilized remote workforces. He discusses the importance of having clean books and financials, as well as the value of virtual assistants and outsourced labor. Nathan emphasizes the need to hire the right level of talent, whether they are followers, doers, or experts. He also highlights the significance of building trust and relationships with your team and the importance of finding the right buyer who will treat your employees well. Overall, Nathan provides valuable insights into the M&A process and the benefits of remote workforces in business sales.

Takeaways:

• Having clean books and financials is crucial when selling a business.
• Hiring the right level of talent, whether followers, doers, or experts, is essential for success.
• Building trust and relationships with your team is important for a smooth transition during a sale.
• Finding the right buyer who will treat your employees well is crucial.

Chapters:

00:00 - Introduction

01:24 - Nathan's Background and Entrepreneurial Journey

09:47 - M&A Process and Due Diligence

23:13 - Outsourced Labor and Hiring Levels

32:22 - M&A Expertise and Considerations

36:16 - Key Takeaways

About The Nathan Hirsch:
Twitter (X)
LinkedIn
TrioSEO
EcomBalance
AccountsBalance
OutsourceSchool

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

In this episode, Todd Sullivan interviews Meighan Newhouse, the co-founder and former CEO of Inspirant Group, a management consulting firm that was acquired by 10 Pearls. Meighan shares her journey as an entrepreneur and the decision-making process behind selling her business. She emphasizes the importance of understanding the why and the end goal of the sale, as well as finding a buyer that aligns with the company's culture and values. Meighan also discusses the challenges and considerations during the due diligence process and the post-acquisition experience.

Takeaways:

• Before embarking on the journey of selling your business, pause and reflect on your why and the end goal of the sale.
• Find a buyer that aligns with your company's culture and values, and consider strategic acquisitions that can help accelerate growth.
• Prepare for the sale process by organizing your documentation and seeking advice from experienced M&A advisors.
• During due diligence, focus on maintaining confidentiality and consider the impact on your team and their day-to-day work.
• Negotiate the deal structure, including earnouts, to align incentives and ensure a smooth transition post-acquisition.

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

• Creating business engines that deliver predictable profits, cash flow, and sustainable growth
• Driving predictable, transferable value and a more lucrative M&A transaction

GUEST BIO:
George Sandmann is an entrepreneur turned growth advisor.  An attorney by training, George is an entrepreneur with almost 30 years experience starting and growing companies. After a lifetime of startup success and challenges, George founded his current company, Growth Drive, to deliver tools and technological support to advisory business delivering client wins and M&A success.

George's professional vision is for Growth-Drivers to increase Strategic Capacity for $1 Trillion worth of middle and pre-middle market businesses.

George is a speaker, board member, and author of a Forbes #1 New Release Book. 

LinkedIn
X (Twitter)
The Growth-Driving Advisor: Proven Strategies for Leading Clients from Stuck to Best-in-Class (Forbes 2023 Book by George Sandmann)

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

• Are your business results desirable?  Will an acquirer see value and opportunity in what you have built?
• Can a buyer duplicate your results?  Can the buyer run the business without you?
• Can you document your results?  Is there a playbook written that can be followed once you are gone?

GUEST BIO:
Mike Finger is a serial entrepreneur and business advisor who's built and sold four companies.

His first exit was not for the faint of heart and provided expensive lessons for the rest of his entrepreneurial career. Mike built his first company to 50 people, and after ten years of growth, he decided to sell. However, after several attempts to work out deals with multiple buyers, Mike's investment bank told him that his business was just not in a position to sell.

Although this is something any decent investment bank or M&A Advisor should know before taking a company on as a client, Mike spent the next four years fixing the mistakes in his business and eventually sold the company.

Resigned to not letting other small business owners go through his pain, today, Mike shares with us how to position small businesses for successful exits at Exit Oasis.

We hope you enjoy the conversation with Mike Finger.

WHERE TO FIND MIKE FINGER:
LinkedIn

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

• Asking for help when building your company for the future
• Coaching founders on how to remove themselves from their businesses to create transferable value
• How taking care of yourself as a founder or business owner can significantly increase productivity and prevent burnout

GUEST BIO:
Chris Wise is a seasoned business advisor with over 30 years of experience and the founder of Wise Profits.

With a notable track record that includes 14 successful exits, 34 M&A transactions, and 2 IPOs, Chris and his team at Wise Profits have consistently delivered exceptional outcomes for their clients. Specializing in guiding $1M - $20M revenue companies, Wise Profits excels in scaling businesses, preparing them for optimized exits, and providing comprehensive M&A operational and integration services.

WHERE TO FIND CHRIS WISE:
LinkedIn
X (Twitter)
YouTube

EPISODE REFERENCE AND READING MATERIALS:
Four Hour Workweek (book), Timothy Ferriss

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

• His evaluation criteria for starting eCommerce brands
• How he decides when it's time to sell a business
• How he brings his teenage kids into these companies and exposes them to the highs and lows of the life of an entrepreneur

GUEST BIO:
Robb Green is the owner and visionary behind the formulation and execution of strategies aimed at mastering the art of e-commerce brand establishment. Solving Alpha has founded 9 total brands with a focus on e-commerce.

Robb has a real passion for business, putting deals together and is always looking for business to buy, optimize, and grow. He helps owners of e-commerce focused brands exit their business while preserving their brands.

Robb utilizes his skills and time as an investor & advisor to help others in the industry continue to learn and grow.

WHERE TO FIND ROBB GREEN:
LinkedIn
I'm The One Podcast
I'm The One Podcast (YouTube)
Twitter

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

In this episode, Wayne talks about:

• His early beginnings as a student journalist at the University of British Columbia
• Becoming the CEO of Canada Basketball and his relationship with Jerry Colangelo
• A history lesson of SPORT Magazine, Sports Illustrated, Sports Insider, and ESPN The Magazine
• How he purchased the most significant collection of images related to 20th century sport anywhere in the world
• Finding the next owner for The Sport Collection

GUEST BIO:
Wayne Parrish is an award-winning reporter, editor and digital media leader with a passion for sports and journalism.   Wayne, who has won two National Newspaper Awards as a sports reporter at the Star in the early 1980s, has held executive leadership positions at Postmedia Network, Quebecor and Sun Media.

He was CEO of Canada Basketball for eight years. And most recently, he worked on digital transformation and merger-acquisition media projects in the U.S., Puerto Rico and Australia with FTI Consulting Inc.

Parrish’s digital experience includes launching CANOE, which became Canada’s premiere internet network-portal and top news and information site for more than a decade.

He launched Postmedia’s digital subscription program, consulted on a sports-only digital subscription business in the U.S., and developed the new media unit of Quebecor.

Wayne and partner, Marc Appleman, also own The Sport Collection, the largest collection of images related to 20th century sport anywhere in the world.

WHERE TO FIND WAYNE PARRISH:
LinkedIn

EPISODE REFERENCE AND READING MATERIAL:
The Air Up There: How Canadian basketball has grown and where it’s headed
The Sport Gallery (Toronto Location)
SPORT Media Entertainment

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

• The three things that every founder needs to focus on when building their business
• The difference between exit planning and succession planning
• What a perfect succession plan look like

GUEST BIO:
Christine Nicholson is a serial entrepreneur with multiple exits under her belt, who has now turned her attention to helping fellow business owners with succession planning before the sale of their businesses.

Christine sold her first business just 12 months after launching. She then helped a client sell a distressed business, which led her to help a family office sell off over 40 businesses. Christine knows a thing or two about the exit process and believes the number one piece of advice for business owners preparing to exit is to hire people to take over each of the business owners tasks over time.  This will leave the business owner in a place to oversee the growth of the business and walk away when it's sold.

WHERE TO FIND CHRISTINE NICHOLSON:
LinkedIn
Get Exit Ready - Business Mentor

EPISODE REFERENCE AND READING MATERIALS:
How To Sell A Business Using An ESOP (Exitwise blog)
Are You Prepared to Sell Your Business? (Exitwise blog)
Selling 1-800 Hansons | Brian Elias (Cashing Out podcast)

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

• The importance of understanding market trends to know when to invest and when to sell 
• Understanding your exit strategy to make the right decisions while you're building your business, and;
• How to be ready when your ideal buyer comes knocking

GUEST BIO:
Edin Basic began his journey as a refugee from war torn Bosnia, leaving school before completing his final exams to escape to London with no money in his pocket (and not able to yet speak English).

After years of searching, surviving and gaining different experiences in the restaurant industry, Edin's entrepreneurial mindset led him to start his own company, Firezza.  Along the way he raised money from VC funds and angel investors, scaled up his business to 17 locations, and eventually sold to his largest competitor, Pizza Express.

Since then, Edin is a headline speaker across Europe, hospitality consultancy, has started multiple food & beverage concepts in the UK and abroad, and supports founders on their journey with his own "been there done that" experience.

WHERE TO FIND EDIN BASIC:
LinkedIn

EPISODE REFERENCE AND READING MATERIALS:
Hony Capital-backed PizzaExpress completes acquisition of Firezza
Beyond Venture Capital: Exploring Funding Options for Entrepreneurs in 2023 (Exitwise blog)

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

• The various reasons that a business owner considers a business valuation
• The difference between fair market value, and valuing a business for sale
• Becoming an Exitwise Ambassador and referring Fathead.com for sale in October, 2023

GUEST BIO:
Sarah has been a Certified Valuation Analyst (CVA) for over 10 years and is also a Certified Exit Planning Advisor (CEPA).

Prior to becoming a CVA, Sarah was Director of Financial Planning at United Technologies Corporation. She performed many valuations in that role to support the corporation’s mergers and acquisitions activity as well as for purposes of international tax planning.

Sarah also prepared financial information for the divestiture of UT Automotive to Lear Corporation for $2.3B.

She received an MBA with distinction from the Ross School of Business at the University of Michigan and is a magna cum laude engineering graduate of Duke University.  In addition to her expertise in finance, Sarah has held positions in product development, manufacturing and strategic planning.

She currently serves on the education committee of the National Association of Certified Valuators and Analysts. In addition to her involvement with NACVA, she is a member of Association for Corporate Growth (ACG) Detroit, the Michigan Business Brokers Association and the Exit Planning Institute’s Southeast Michigan chapter.

Sarah is committed to helping clients across many industries with their valuation needs. She is also interested in working with family enterprises on succession planning and exit strategies.

WHERE TO FIND SARAH GREIFENBERGER:
LinkedIn

EPISODE REFERENCE AND READING MATERIALS:
Arbor Valuation & Consulting
Q5 Experience
4 Ways to Calculate the Value of Your Company (Blog)
How Much Is My Business Worth? (Blog)
Exitwise Valuation Calculator

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/

• Having multiple strategic investors on your cap table
• Being prepared for your buyer to change the terms of your exit days before signing
• Knowing what you should say no to when raising capital or selling your company

GUEST BIO:
Jean Anne Booth is a serial entrepreneur with a number of successful exits, including selling Luminary Micro to Texas Instruments in 2009 and Intrinsity to Apple in the early 2000's.  Her background spans from P&L business unit management to marketing; product definition; systems, software, and applications engineering; silicon development engineering; and operations and product engineering. 

Jean Anne has over 30 years of experience in high tech ventures and has raised over $100 million in venture capital for her companies. Now on her fourth tech startup, Jean Anne is building UnaliWear, a wearable “OnStar for people” watch to provide discreet support for falls, medication reminders, and to guard against wandering. 

I hope you enjoy my conversation with Jean Anne Booth. 

WHERE TO FIND JEAN ANNE BOOTH:

LinkedIn
X (formerly Twitter)

EPISODE REFERENCES AND READING MATERIAL:
Texas Instruments Acquires Luminary Micro, Expands MCU Lineup
Apple buys chipmaker Intrinsity
Mythic.ai

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

• Why business owners should trust their intuition when deciding when to sell their companies
• How to renegotiate business contracts to make them transferable in an acquisition 
• When you're at the goal line, how you should focus on your why you are selling and not quibbling over every last dollar.

GUEST BIO:
Raleigh Williams is a former M&A attorney turned entrepreneur who quit his job as a lawyer to start an escape room business.  Raleigh quickly  expanded into multiple locations while adding trampoline parks, axe throwing and other entertainment venues. After six years of running his company, Raleigh tried to sell the whole pool of entertainment businesses to a single buyer. 

However, he quickly learned that the buyers and investment bankers believed he needed to sell his assets piecemeal to maximize his outcome.  By separating each asset, Raleigh was able to create more than $26 million in enterprise value, which he now uses to invest in and buy other businesses.

Today, Raleigh is the CEO of DealMaven.io, helping and investing in founders to structure and operationalize their businesses and create incredible exits.

We hope you enjoy Exitwise CEO & Co-founder Todd Sullivan's conversation with Raleigh Williams.

WHERE TO FIND RALEIGH WILLIAMS:
LinkedIn
X (Twitter)
Instagram
DealMaven.io

EPISODE REFERENCES AND READING MATERIAL:
The unbelievably lucrative business of escape rooms (MarketWatch)

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

• His entrepreneurial journey of leaving his job as an investment banker and moving to San Francisco with a dream of building a company with several college friends
• Managing the expectations and attraction of multiple M&A "off-ramps" along the entrepreneurial journey
• How he identified the buyer intent that helped the Finbox team build a successful suite of products that led to an acquisition by Investing.com  
• His belief that intense focus is the secret to building a great company and full transparency with advisors and acquirers upfront saves time and creates better alignment to get your deal done

GUEST BIO:
Andy Pai is a former investment banker, and co-founder of Finbox, a financial data platform that covers over 100,000 stocks on 130 plus exchanges around the world.  Andy started Finbox in 2015 and bootstrapped it all the way to an exit to Investing.com, a leader in financial data and a top 200 website globally. 

I hope you enjoy the conversation with Andy Pai. 

WHERE TO FIND ANDY PAI:
LinkedIn

EPISODE REFERENCES AND READING MATERIAL:
Investing.com Launches Premium Service to Further Empower Retail Investors

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

• Turning a Series A Term Sheet into multiple growth and exit options for the business
• The value of seeking guidance from seasoned CEOs and professionals who have gone through the M&A process in order to structure the right agreements when it came time to sell his business
• Being critically organized with your startup's Employee Agreements, Client Contracts, and Company financials

GUEST BIO:
Austin Ogilvie is a former machine learning product manager who decided to leave his day job to co-found and eventually sell Yhat, a data science and decision management platform to Alteryx, a public company competing in the same space.

Austin is a firm believer that whether you're raising money or selling your business from the first introduction to the investor until the moment the wires hit the bank, fundraising and M&A are journeys requiring bi-directional courtship, storytelling, sales and detail old organization.

I hope you enjoy my conversation with Austin Ogilvie. 

WHERE TO FIND AUSTIN OGILVIE:
LinkedIn
X / Twitter
Intro.co
Medium

EPISODE REFERENCES AND READING MATERIAL:
Alteryx Acquires Yhat (Bloomberg)
Austin Ogilvie: The Maverick Changing The Game In Digital Compliance

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

• His views on how outsourcing the financial role to professionals helps when it's time to sell the business
• How bootstrapping (vs. Venture Capital) allowed him to sell on his timetable
• Why building community is a key differentiator and value driver in any business and even more when it's time to sell

GUEST BIO:
Lloyed Lobo is an incredible, self-made entrepreneur.  As a Kuwaiti refugee and former engineer turned serial entrepreneur, Lloyed co-founded and built boast.ai, a company helping businesses access R&D tax credits and innovation incentives, to $10 million of ARR. He also co-founded Traction, a nonprofit that brings together more than 120,000 entrepreneurs and innovators to share lessons on scaling startups. Lloyed sold a majority stake in boast.ai to a growth capital firm, which not only allowed him and his co-founder to create the personal liquidity they both needed for the next stages of their lives, but they were also able to maintain a substantial portion of equity in the business.

Lloyed is full of poignant, entrepreneurial and personal anecdotes to succeed in business and in M&A.

We hope you enjoyed my conversation with Lloyed Lobo.

WHERE TO FIND LLOYED LOBO:
LinkedIn
X (Twitter)
Instagram

EPISODE REFERENCES AND READING MATERIAL:
Get Lloyed’s new book, 'From Grassroots To Greatness: 13 Rules to Build Iconic Brands with Community Led Growth' (Top New Release on Amazon)
BOAST.AI
Traction
What Is Bootstrapping? (blog)
Ten Best M&A Podcasts For Entrepreneurs and Business Owners (blog)

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/

• Creating better personal relationships with acquirers can de-risk M&A transactions
• To bounce back from a failed M&A transaction
• Building a company with a work/life balance in mind can lead to a great outcome

GUEST BIO:
Matt Blumberg, a former management consultant, a venture capitalist and early employee who helped MovieFone move into the Internet age and get acquired by AOL.

With his well-rounded training, Matt’s biggest professional success came by co-founding Return Path, a company that provides email intelligence solutions for marketers. Matt and his team grew the company to 500 employees and a hundred million in revenue. Along his 20 year journey, Matt was approached four times to sell the business, and after four failed attempts for various reasons he finally completed a sale to Validity, a consumer data company, in 2019.

Today, Matt is the co-founder and CEO of Bolster, a talent marketplace to match highly experienced executives with fractional and project based roles to help startups scale.

We hope you enjoy his conversation with Exitwise Co-Founder & CEO Todd Sullivan!

WHERE TO FIND MATT BLUMBERG:
LinkedIn
X (Twitter)

EPISODE REFERENCES AND READING MATERIAL:
Validity Acquires Return Path, the leader in email deliverability
The Daily Bolster Podcast, with Matt Blumberg
Startup CEO (by Matt Blumberg)
Startup CXO (by Matt Blumberg)
Startup Boards (by Matt Blumberg)
Someone Just Offered To Buy Your Company: Now What? (blog)

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

• How his personal M&A experience helps improve his consultancy for his clients
• How professional service firms are valued during an M&A transaction
• What great companies do to prepare for an exit
• How AI is disrupting the M&A world and what founders and entrepreneurs can do to leverage it

GUEST BIO:
Professor Joe O'Mahoney, an industry specific business consultant who built and sold his own company in 2007.

Since his exit, Joe has been using his personal experience in M&A to help business owners successfully grow and exit their boutique consultancy businesses. Over the years, Joe has provided consultancy for many of the world's largest consulting firms, including McKinsey and Company, IBM, Deloitte and Bain.

And today he is the professor of consulting at Cardiff University and Advisory Board member at several high growth businesses. 

Please enjoy Exitwise CEO & Co-founder Todd Sullivan's conversation with Professor Joe O'Mahoney.

WHERE TO FIND PROF. JOE O'MAHONEY:
LinkedIn

X (Twitter)

EPISODE REFERENCES AND READING MATERIAL:
Joe O'Mahoney Dot Com
Free Resources To Help Your Firm Grow
The Consulting Growth Podcast
Questions To Ask Potential M&A Advisors When Selling Your Boutique (blog)
How Much Is My Business Worth (Exitwise Valuation Calculator)

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

In this episode, Kenan talks about:

• His decision to sell Halo Cars to Lyft so early in his entrepreneurial journey 
• How mentally and emotionally difficult due diligence is after signing an LOI during M&A
• His advice for other founders thinking about the M&A process, and how his experience will influence his next venture

GUEST BIO:

In October, 2018 as a student at Wharton (University of Pennsylvania), Kenan Saleh co-founded Halo Cars, a transportation ad network.  After striking a business development deal with Lyft, one of the largest ride sharing platforms in the world at the time, Kenan and his team made the decision to sell Halo Cars to Lyft.

Although he was just nine months into launching his business, Kenan decided to use M&A as a way to more quickly achieve his vision for Halo and reduce the competitive threat of the sleeping giant he had just woken up.

Today, Kenan is an Advisor, Board Member, Angel Investor, and since transitioning out of Lyft is using his time to work on something new.

We hope you enjoy the conversation between Exitwise's Todd Sullivan and Kenan Saleh.

WHERE TO FIND KENAN SALEH:
LinkedIn
X (Twitter)

EPISODE REFERENCES AND READING MATERIALS:
2021 Forbes 30 Under 30
Lyft Buys Halo Cars
Lyft creates media division to cash in on in-car ads (TechCrunch)
How To Maximize The Value Of Your Business (Exitwise blog)

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

In this episode, Oliver talks to Exitwise CEO & Co-Founder Todd Sullivan about:

• Finding the right buyer for your startup (private equity, family office, strategic buyer, or holding company)
• The value of surrounding yourself with M&A expertise when selling your business
• How selling in the "4th inning" can often lead to better liquidity and professional options

GUEST BIO:

Oliver started his career at Microsoft in 2006.  He spent time at MySpace from 2008 to 2010 and then launched a digital agency called Platform360, a B2B agency which was purchased by a strategic acquirer Silverbullet in 2018.  After the acquisition, Oliver joined Silverbullet and helped take the company public in 2019, where his team is still benefiting from the acquisition structure Oliver and his M&A team designed.

Oliver currently runs Tiny Studio, a venture studios that sits within Tiny.com. Tiny is a holding company which was started to invest in and acquire companies.  Oliver now sits at the center of helping make the Tiny portfolio companies grow. 

We hope you enjoy the conversation with Oliver Low.

WHERE TO FIND OLIVER LOW:
LinkedIn
X (Twitter)
Oliver Low's Newsletter

EPISODE REFERENCES AND READING MATERIALS:
More about Tiny dot com
The Ticking Clock of M&A: How Delays Can Kill The Sale of Your Business (blog)
Are You Prepared To Sell Your Business? (blog)
How Much Is Your Company Worth?

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

In this episode, Jonah discusses:

• The value of putting an entrepreneurial win on the board
• Deciding to step down from the CEO role to prepare his company for its next stage of growth
• Advice for fellow founders thinking about fundraising and the M&A process

GUEST BIO:
Jonah has been fortunate to see the startup journey from many different perspectives. First, as a successful bootstrapped founder of Casino Media Group, an advertising agency focused on the online gaming sector (becoming the agency of record for PokerStars and Bet365). 

After selling to Immersion Media in 2008, Jonah used his advertising, gaming and technical talents to help the UFC develop the first legal online betting platform in the United States (ultimately powering the first legal hand of online poker live in the U.S.).

Jonah then went on to found Limelight, a venture backed company focused on live events. After finding significant success, Jonah stepped away from the CEO role to sit on the board of Limelight and spend his time helping companies grow at a different kind of venture capital firm called Forum Ventures.

Please enjoy this conversation between Jonah and Exitwise CEO Todd Sullivan. 

WHERE TO FIND JONAH MIDANIK:
Limelight Platform - https://www.limelightplatform.com/
Forum Ventures - https://lp.forumvc.com/pitch-us-form
LinkedIn - https://www.linkedin.com/in/jonahmidanik/
Twitter - https://twitter.com/midanik_jonah

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

Today, my guest is Tiger 21 chair and three-time entrepreneur Elise Mitchell, who founded Mitchell Communications Group, which was named a top ten fastest growing PR firm globally.

Elise was named PR Week's Public Relations Professional of the Year and a top 50 power player in PR. She's also the author of Leading Through the Turn.  Under Elise's Leadership, her agency grew initially using an outsourced talent model while landing global brands, including Walmart, Procter and Gamble, Hilton Hotels and Tyson Foods. Her company was a two time Inc 500/5000 fastest growing company.

And in 2013, Elise successfully completed a strategic sale of her company to global ad agency powerhouse Dentsu. In this episode, Elise and I discuss how she learned to turn adversity into opportunity to launch her business. Why you should take calls from prospective acquirers even if you don't want to sell your business, and how setting your business and team up for success after you're gone is the true measure of a great exit.

I hope you enjoyed my conversation with Elise Mitchell.

EPISODE 48 SHOW NOTES AND REFERENCES:
EliseMitchell.com and Velocity Collective LLC:  https://elisemitchell.com/
"Leading Through The Turn" (McGraw Hill):  https://www.amazon.com/gp/product/125986099X/ref=dbs_a_def_rwt_bibl_vppi_i0
Mitchell Communications acquired by Dentsu:  https://talkbusiness.net/2013/01/mitchell-communications-acquired-by-dentsu/
How To Handle Inbound Interest:  https://exitwise.com/blog/someone-just-offered-to-buy-your-company-now-what

WHERE TO FIND ELISE MITCHELL:
LinkedIn:  /elisemitch
Twitter:  @elisemitch

WHERE TO FIND TODD SULLIVAN (HOST, M&A ADVISOR, AND CEO of EXITWISE):
LinkedIn: /toddfsullivan
Twitter: @Todd_Sullivan

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

Sven understands how to raise capital, how to leverage low cost workforces, and how to use technology to improve efficiencies and profitability in any business he's involved in. Sven shares how he thinks about fundraising for startups, why he's now buying profitable companies as platforms for growth, and using technology to support his M&A endeavors. 

Sven's Experience:
Over the last decade Sven has helped 300+ Founders Raise US$140M+ in capital and supported US130M+ in acquisitions. In that same time he's launched, grew, scaled & exited 2ventures. 

Sven's Expertise:
Sven is an expert in funding, acquisitions and company turn arounds for scalable businesses under 90 days. By delivering you fast track growth, he is able to make an impact in your and his world.

I hope you enjoy the conversation with Sven Milder.

EPISODE 47 SHOW NOTES AND REFERENCES:
Pitch-House:  https://pitch-house.com/
Founders Tribe Newsletter:  https://founderstribe.xyz/newsletter 

Beyond Venture Capital: Exploring Funding Options for Entrepreneurs in 2023

WHERE TO FIND SVEN MILDER:
LinkedIn: /svenmilder
Twitter: @svenmilder

WHERE TO FIND TODD SULLIVAN (HOST, M&A EXPERT, AND CEO of EXITWISE):
LinkedIn: /toddfsullivan
Twitter: @Todd_Sullivan

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

Join Todd Sullivan in a conversation with Melissa Kwan, the co-founder and CEO of eWebinar, a top automated webinar platform. Prior to eWebinar, Melissa spent 13 years building three successful companies without venture capital backing. Her last company, Spacio, became the real estate industry's number one open house sign-in solution, helping agents automate lead capture and follow up. 

Melissa sold Spacio in 2019 to a strategic buyer. After years of struggling to build her company with virtually no resources, our fellow founders will easily relate to Melissa's story, especially those who have not had the benefit of venture capital funding.

From eating one meal a day to reduce our personal burn to growing Spacio to over 100,000 users and selling for mid-seven figures. Melissa Kwan gives our listeners a good look into the expectations versus reality of building and exiting a successful SaaS business. 

We hope you enjoy the conversation with Melissa!

EPISODE 46 SHOW NOTES AND REFERENCES:
HomeSpotter Acquires Open House Innovator Spacio - https://blog.homespotter.com/2019/01/17/homespotter-acquires-spacio/
eWebinar - https://ewebinar.com/automated-webinar-library
The 10 Aha! Moments That Got Us to Acquisition While Maintaining 94% Control - Part 1 of 2 | Part 2 of 2
The 10 non-negotiables that led me to start eWebinar
Design the life you want to lead (not around the next demo)
PROFIT LED Podcast, hosted by Melissa Kwan - https://ewebinar.com/podcast

WHERE TO FIND MELISSA KWAN:
LinkedIn: /melissakwan
Instagram: @themelissakwan
Twitter: @themelissakwan

WHERE TO FIND TODD SULLIVAN (HOST, M&A EXPERT, AND CEO of EXITWISE):
LinkedIn: /toddfsullivan
Twitter: @Todd_Sullivan

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

Today Todd Sullivan is joined by Ryan Vaughn, the founder of VNN Sports, one of the largest marketing platforms in the U.S. for high school sports.

Ryan caught the entrepreneurial bug at an early age when he started selling Pogs to his classmates in the fourth grade. Through the following years of self-discovery, as well as trial and error, Ryan raised capital and willed VNN to life. Ryan made the decision to personally exit his business in 2020 and now coaches, executives and founders through their entrepreneurial journeys at his latest company, Inside Out Leadership.

Today, Ryan and I talk about the resiliency and optimism required for entrepreneurs to build a company against serious headwinds that are often hard to anticipate. We talk about how lonely it can be in the CEO seat when making major decisions that can seriously affect the lives of your family, partners and employees. And finally, we debate when a founder should personally exit the business to focus on his or her next stage of life and leave part of their entrepreneurial legacy in the hands of others.

I hope you enjoy my conversation with Ryan Vaughn.

Episode 45 Show Notes & References:

The Midlife Unraveling - https://brenebrown.com/articles/2018/05/24/the-midlife-unraveling/

What Is Bootstrapping In Entrepreneurship – https://exitwise.com/blog/what-is-bootstrapping-in-entrepreneurship 

Are You Prepared To Sell Your Business - https://exitwise.com/blog/are-you-prepared-to-sell-your-business

Beyond Venture Capital: Exploring Funding Options For Entrepreneurs in 2023 - https://exitwise.com/blog/beyond-venture-capital-exploring-funding-options-for-entrepreneurs-in-2023

Where To Find Ryan Vaughn:
LinkedIn - https://www.linkedin.com/in/ryanhvaughn/
Twitter - https://twitter.com/RyanHVaughn
Inside Out Leadership - https://www.leadinsideout.io/

Where To Find Todd Sullivan (Host, M&A Expert, and CEO of Exitwise):
LinkedIn - https://www.linkedin.com/in/toddfsullivan/
Twitter - https://twitter.com/Todd_Sullivan
Exitwise - https://exitwise.com/
Email - todd@exitwise.com

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

Today Todd Sullivan is joined by a great friend, multi-time founder, and Iron Man Athlete, Ryan Landau.

Ryan, along with his brother Andrew, built Chalkfly, a company that helped transform how school and office supplies are purchased online. Launched in 2012, Chalkfly was among the fastest growing early stage e-commerce companies out there. It was quickly acquired by Global Office Solutions in under three years.  

Ryan's one of the most introspective and corporate culture conscious founders that I know.  It's not easy to make the decision to sell your business so quickly. But Ryan has some great stories and great advice for all of us who may be thinking about selling our business in the early innings. 

I hope you enjoy the conversation with Ryan Landau. 

Where To Find Ryan Landau:
LinkedIn - https://www.linkedin.com/in/ryanlandau/
Twitter - https://twitter.com/RyanKLandau
Purpose Jobs - https://www.purpose.jobs/

Where To Find Todd Sullivan (Host, M&A Expert, and CEO of Exitwise):
LinkedIn - https://www.linkedin.com/in/toddfsullivan/
Twitter - https://twitter.com/Todd_Sullivan
Exitwise - https://exitwise.com/
Email - todd@exitwise.com

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

Today, Todd Sullivan's guest is Craig Dickens, a serial entrepreneur with thirteen exits, who decided to start an investment bank to help demystify the M&A process and help fellow founders create the exits they deserve.

Craig is one of the investment bankers on the Exitwise platform, and we decided to have  on to share his particular expertise for guiding first time sellers to not leave money on the table when selling their companies. In today's discussion, we chat about what to watch out for with unsolicited offers. We talk about translating emotion into finance by educating our clients before and throughout the entire sale process.

And finally, we share why all business owners should have an investment banker on speed dial years before you're ready to sell your business. 

I hope you enjoy my conversation with Craig Dickens. 

Where To Find Craig Dickens:
LinkedIn - https://www.linkedin.com/in/craigdickens/
Twitter - https://twitter.com/DickensCraig

Where To Find Todd Sullivan (Host, M&A Expert, and CEO of Exitwise):
LinkedIn - https://www.linkedin.com/in/toddfsullivan/
Twitter - https://twitter.com/Todd_Sullivan

Episode 43 Show Notes & References:
Beware of the Pre-emptive Offer – https://jdmerit.com/beware-of-the-preemptive-offer/ 

Trifecta of M&A -  https://jdmerit.com/the-trifecta-of-ma/ 

BoomerPreneurs – secure your legacy https://jdmerit.com/boomerpreneurs-secure-your-legacy/ 

Managing Emotions in M&A Process https://jdmerit.com/managing-emotions-in-an-ma-deal-2/ 

Why Have an Investment Banker on Speed Dial - https://jdmerit.com/investment-banker-on-speed-dial/ 

MySwimPro - https://myswimpro.com/
NIX Biosensors - https://nixbiosensors.com/
Mergers & Acquisitions Explained: Quality of Earnings Q&A - https://exitwise.com/blog/mergers-and-acquisitions-explained-quality-of-earnings-q-and-a
The Importance of Quality of Earnings When Selling Your Business - https://exitwise.com/blog/the-importance-of-quality-of-earnings-when-selling-your-business

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

With a partner, Nick built his first storage service business right out of college, but decided to sell the business to focus on building a self-storage and real estate empire. Nick and Todd talk about how he used his first company to learn how to make money, how to delegate work, and how to uncover bigger opportunities. Nick also shares how every business owner should be building their audience through social media to leverage this often untapped distribution channel for their businesses.

I hope you enjoy my conversation with Nick Huber. 

Where To Find Nick Huber (Guest):
LinkedIn - https://www.linkedin.com/in/sweatystartup/
Twitter - https://twitter.com/sweatystartup
Business Brokerage - https://nickhuber.com
Personal Brand - https://sweatystartup.com
Self Storage - https://boltstorage.com
Bold SEO - https://boldseo.com
Insurance - https://titanrisk.com
Recruiting - https://recruitjet.com
Landing Page / Web Development - https://webrun.com
Overseas Staffing - https://supportshepherd.com
Debt and Equity - https://bluekeycapital.com
Tax Credit - https://taxcredithunter.com
Cost Segregation - https://recostseg.com
Performance Marketing - https://adrhino.com
Pest control - https://spidexx.com

Where To Find Todd Sullivan (Host):
LinkedIn - https://www.linkedin.com/in/toddfsullivan/
Twitter - https://twitter.com/Todd_Sullivan

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

Mac has been featured on CNN, The Wall Street Journal, Fast Company, USAToday and The New York Times, and now spends his time working with business owners through his extraordinary program called ExitDNA, which helps grow businesses from tens of millions to hundreds of millions of dollars so they can be sold for maximum value. Mac and I not only talk about his insights to business growth and maximizing exits, but we also have some fun learning how he went from playing pro soccer out of college to buying a professional soccer team after selling his last business.

I hope you enjoyed the conversation with Mac Lackey.

Where To Find Mac Lackey (Guest):

• LinkedIn:  https://www.linkedin.com/in/maclackey/
• Twitter:  https://twitter.com/MacLackey
• YouTube:  https://www.youtube.com/maclackey

Episode 41 Required Reading, Listening & Viewing:

• Creating The Exit Opportunity - Mac Lackey eBook
• ExitDNA -  Mac's platform to help founders create a powerful OPTION to exit on their timeframe, terms and at maximum value
• Algeciras Club de Futbol - In March, 2023, Mac officially became a part-owner of the Spanish futbol club, Algeciras FC 
• MacLackey.com

Where To Find Todd Sullivan (Host):

• LinkedIn:  https://www.linkedin.com/in/toddfsullivan/
• Twitter:  https://twitter.com/Todd_Sullivan

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

Greg not only explains how venture capital often imposes unrealistic growth requirements, but he also emphasizes how founders who retain their equity experience larger personal financial wins when it comes time to sell their businesses. 

Greg is a 30-year software industry veteran who was part of the startup-to-scale journeys of three different software companies in the CRM industry, including one IPO. 

Today, Greg spends his time mentoring SaaS founders on the value of bootstrapping their companies to retain equity, ownership and control of the business decisions. 

I hope you enjoyed the conversation with Greg Head.

Where To Find Todd Sullivan (Host):

• LinkedIn:  https://www.linkedin.com/in/toddfsullivan/
• Twitter:  https://twitter.com/Todd_Sullivan

Where To Find Greg Head (Guest):

• LinkedIn:  https://www.linkedin.com/in/gregheadaz/
• Twitter:  https://twitter.com/GregHead

Episode 40 Required Reading, Listening & Viewing:

• Practical Founders podcast
• Practical Founders Peer Groups
• Gregslist.com - Gregslist is the curated up-to-date list of local software and SaaS companies in 12 major cities in North America.
• Scaling Point - Helping practical software startup founders grow and create valuable companies without big funding.

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

Derek is an e-commerce and digital marketing visionary and in today's discussion shares his advice on how to value a business inside a parent company, when to sell your business, and how to structure a transaction to really bet on the future.

Where To Find Todd Sullivan (Host):

• LinkedIn:  https://www.linkedin.com/in/toddfsullivan/
• Twitter:  https://twitter.com/Todd_Sullivan

Where To Find Derek Gaskins (Guest):

• LinkedIn:  https://www.linkedin.com/in/dgaskins/
• Twitter: https://twitter.com/derekgaskins 

Episode 39 Required Reading, Listening & Viewing:

• Aleva Stores
• Blue Wheel (formerly Retail Bloom)
• The Story of Aleva Stores - Derek Gaskins on the The Pre W. Smith Show
• Unveiling the Power of Rollover Equity

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

Kim also dives into the experience of trying to sell one of her business in 2022, and the decision to pull out of the deal because it was not aligning with her values.

Kim thinks of herself as an “accidental entrepreneur” who uses her business education to garner success in the experiential marketing space. She’s worked with industry pillars such as Oprah, KISS, and The New York Mets to bring one-of-a-kind experience to fans around the world.

Her previous companies, ZinePak and The Superfan Company, garnered global praise. From being named one of The Wall Street Journal’s "Startup of the Year" to being featured on Season 5 of ABC’s hit primetime show, Shark Tank, securing offers from 4 out of 5 sharks.

Kim has been featured on Forbes 30 Under 30, Advertising Age’s 40 Under 40, Inc.’s 35 Under 35 and been awarded EY’s Young Innovator of the Year Award. She regularly contributes commentary on business, entrepreneurship and entertainment to media outlets such as Rolling Stone, Forbes and Entrepreneur in addition to being featured on television networks, such as her appearance as a judge for 2019 Miss USA pageant LIVE on Fox.

Where To Find Todd Sullivan (Host):

• LinkedIn:  https://www.linkedin.com/in/toddfsullivan/
• Twitter:  https://twitter.com/Todd_Sullivan

Where To Find Kim Kaupe (Guest):

• LinkedIn:  https://www.linkedin.com/in/kimkaupe/
• Twitter:  https://twitter.com/kimkaupe
• Instagram:  https://www.instagram.com/kimkaupe/

Episode 38 Required Reading, Listening & Viewing:

• Bright Ideas Only 
• Coffee With Kim Podcast
• Shark Tank, Season 5 Episode - ZinePak

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

Adam is a respected mentor to MBA candidates and a sought-after speaker at UCLA. He brings diverse expertise from commercial and industrial service businesses, alongside being a licensed general contractor, pilot, former GE executive, and US Army veteran.

Adam admits his career as a Private Equity backed operator has been a thrilling and highly lucrative journey.  But today, he's more interested in sharing his knowledge with business owners on how to maximize their outcomes when selling their businesses. 

In our discussion, Adam offers his advice in three areas where business owners can improve their outcomes when selling to private equity sponsors:

1) how to get smart about the sales process to private equity
2) how business owners can leverage private equity buyers to create generational wealth

3) how hiring experienced advisors at every stage of the exit process will yield your best results

Episode Highlights:
6:04  Where it all started for Adam - learning servant leadership in the US Army
11:31  How should founders think about selling to a Private Equity firm?
18:15  The value of having the right experts in your corner - would you go to your dentist to get brain surgery to save a few bucks?
20:10  As a founder, how should you deal with inbound interest - what do you do when that phone call comes from an interested buyer
25:40  What is rollover equity, and getting a "second bite at the apple"?
26:58  Adam Coffey's "law of 130" when looking to sell your company
33:05  How being part of a private equity platform can get you an incremental arbitrage opportunity with your money?
34:36  What is EBITDA multiple arbitrage in private equity?
40:24  Leveling the playing field when selling your company
45:08  Getting high-value, competitive intelligence from you Investment Banker

Episode 37 Required Reading:
Three Things You Can Do To Strengthen Your Business For A Possible Recession, Adam Coffey in Forbes (5/2/23)
Three Things To Consider When Deciding If It’s The Right Time To Sell Your Business ("the law of 130"), Adam Coffey in Forbes (7/12/22)
The Exit Strategy Playbook
The Private Equity Playbook
Who Should You Hire to Help Sell Your Company?
Unveiling the Power of Rollover Equity: Empowering Founders, Entrepreneurs, and Business Owners in M&A

Where To Find Todd Sullivan (Host):
LinkedIn:  https://www.linkedin.com/in/toddfsullivan/
Twitter:  https://twitter.com/Todd_Sullivan

Where To Find Adam Coffey (Guest):
LinkedIn:  https://www.linkedin.com/in/adamecoffey/
Twitter:  CEOAdvisoryGuru
Website:  AdamECoffey.com

Episode Sponsor:
Thanks to Doeren Mayhew for sponsoring this episode of the Cashing Out podcast!  Doeren Mayhew is one of Forbes best tax and accounting firms in the United States. Check out their Quality of Earnings (QofE) offerings, and everything else they can help you with at doeren.com. 

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

In our conversation, Tyler and Todd not only talk about how he learned about building and selling companies from some of the top Silicon Valley entrepreneurs of our time, but Tyler also shares very private and painful moments along the way that changed his personal and professional life forever.

Episode Sponsor:
Thanks to DoerenMayhew for sponsoring this episode of the Cashing Out podcast!  DoerenMayhew is one of Forbes best tax and accounting firms in the United States. Check out their Quality of Earnings (QofE) offerings, and everything else they can help you with at doeren.com. 

Episode Highlights:

• (3:44)  Tyler's beginnings as an entrepreneur... "I was broke as a joke and newly engaged..."
• (4:42)  Selling cars and a Class B Misdemeanor  
• (6:45)  Joining Josh James and Domo as an early employee
• (9:06)  An unpopular insight on venture-backed startups
• (13:45)  The sacrifices typically required by a founder-led business
• (15:15)  The creation of Drivably, and Tyler's first seed round
• (17:19)  Running out of money, and the realities of having to lay off teammates
• (19:11)  Finding product market fit, and a huge success at NADA (National Automotive Dealer Association) 2020
• (22:27)  The COVID pandemic, and the business goes to zero overnight
• (24:10)  Fighting back to the top of the mountain
• (26:09)  Inbound interest, and thinking about selling Drivably
• (30:02)  M&A negotiations with a competitor - how Tyler managed the situation?
• (32:31)  Due diligence uncovers something that nearly kills the deal
• (34:44)  Tyler's wife, and her unemotional advice around M&A - never too high, never too low
• (41:52)  NASDAQ, and a tragedy that changed everything for Tyler and his family
• (49:37)  Final advice from Tyler Hall, and what he's doing now to help his fellow founders and entrepreneurs

Where To Find Todd Sullivan (Host):

• LinkedIn:  https://www.linkedin.com/in/toddfsullivan/
• Twitter:  https://twitter.com/Todd_Sullivan

Where To Find Tyler Hall (Guest):

• LinkedIn:  https://www.linkedin.com/in/tylerchall/

Episode 36 Required Reading:

• Ten years after Adobe bought Omniture, the deal comes into clearer focus
• HireVue Announces Close of Transaction with The Carlyle Group
• Porsche Ventures Invests in Drivably's Breakthrough Inventory Technology
• Acquisition of Drivably broadens ACV’s products to enable dealers to successfully compete for consumer vehicles
• Tyler Hall Consulting
• The ROLLER COASTER PODCAST
• The Tyler Hall Archives
• Mergers and Acquisitions Explained: M&A 101 for Business Owners
• Doeren Mayhew 

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

Now, instead of our typical format of interviewing a founder who has built and sold a business, we thought we would interview an M&A expert to educate our founders around the decision of whether to do a Sell Side Quality of Earnings report or Quality of Earnings completed by sellers before they begin a sale process is one of the most effective ways a business owner can help maximize the sale of his or her business?

And Larry is a natural educator on this topic. We cover the basics of what a Quality of Earnings analysis is, what the difference between a sell side and a buy side cover is, and what the underlying time and cost requirements to have a Quality of Earnings analysis completed prior to marketing your deal to buyers. The audio of this conversation was previously recorded as part of our Exitwise Live Event series entitled, "What Is Quality of Earnings and Why Is It a Critical Part of Selling Your Business?"

Episode Sponsor:
Thanks to Doeren Mayhew for sponsoring this episode of the Cashing Out podcast!  Doeren Mayhew is one of Forbes best tax and accounting firms in the United States. Check out their Quality of Earnings ("QofE") offerings, and everything else they can help you with at doeren.com. 

Episode Highlights:

• (3:07)  Larry Simon introduction, and why he's considered an expert when it comes to Quality of Earnings (QoE)
• (4:30)  The theory and basics behind a Sell-Side Quality of Earnings analysis
• (6:13)  Creating credibility prior to the start of your M&A process
• (9:28)  Examples of the good and the bad in M&A...  where an effective QoE analysis did (or could have) dramatically changed the outcome of a deal
• (11:57)  The three primary reasons to get a Sell Side Quality of Earnings prior to kicking off an M&A process
• (13:25)  Q&A 1 - Can I run a Quality of Earnings process myself, or do I need to hire an accounting firm to support?
• (15:26)  Q&A 2 - What is the proper way to interview an accounting firm in preparation of signing an engagement letter?
• (17:34)  Q&A 3 - What does a Quality of Earnings analysis cost?
• (19:54)  Q&A 4 - What is the time commitment needed by my executive team and CFO to support a Sell Side Quality of Earnings?
• (23:32)  Q&A 5 - If I have inbound interest from a strategic buyer, do I still need to run Sell Side Quality of Earnings?
• (25:01)  Q&A 6 - What if the buyer runs a Quality of Earnings analysis in addition to the analysis done on the Sell Side?
• (26:38)  Time kills all M&A deals

Where To Find Todd Sullivan (Host):

• LinkedIn:  https://www.linkedin.com/in/toddfsullivan/
• Twitter:  https://twitter.com/Todd_Sullivan

Where To Find Larry Simon (Guest):

• LinkedIn:  https://www.linkedin.com/in/lawrence-a-simon-cpa-49679513/

Episode 35 Required Reading:

• The Importance of Quality of Earnings When Selling Your Business
• Maximize Your Exit with Exitwise
• Doeren Mayhew 

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

But early in his career, Peter was a highly successful agency entrepreneur who sold his first ad agency to a public holding company in Australia in 2010. Now, Peter bet the farm on this exit and tied 100% of his financial outcome to his buyers public stock, which dropped 97% in the first six months because of fraud at the board level.

Although Peter's dream of a life changing financial windfall disappeared seemingly overnight, he was able to leverage his experience and reputation into enormous professional wins. In our conversation, we talk about doing due diligence on your buyer, taking chips off the table when you have a chance, and how putting a win on the board by selling your company can elevate your professional career to new heights.

Episode Sponsor:
Thanks to DoerenMayhew for sponsoring this episode of the Cashing Out podcast!  DoerenMayhew is one of Forbes best tax and accounting firms in the United States. Check out their Quality of Earnings (QofE) offerings, and everything else they can help you with at doeren.com. 

Episode Highlights:

• (4:13)  Peter's beginnings into entrepreneurship
• (6:29)  Being part of Aussie Mail's meteoric rise... from 30 to 450 employees
• (8:13)  Breaking off on his own to create his first venture - Clear Blue Day
• (11:54)  Building Clear Blue Day into a massive brand agency in Australia
• (17:39)  Choosing an acquirer, and feeling like it was the perfect decision
• (20:51)  The M&A exit of a lifetime that turned into a nightmare
• (34:46)  How Peter bounced back

Where To Find Todd Sullivan (Host):

• LinkedIn:  https://www.linkedin.com/in/toddfsullivan/
• Twitter:  https://twitter.com/Todd_Sullivan

Where To Find Peter Bray (Guest):

• LinkedIn:  https://www.linkedin.com/in/peteralexbray/

Episode 34 Required Reading:

• Bray & Co
• Doeren Mayhew 

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

April's superpower comes from her early days as an accountant and her unwavering perseverance to follow her purpose, which allowed her to flip the home health care industry on its head. In our discussion, April shares how finding your purpose will drive your business success, why you should do due diligence on your buyer, and when to sell pieces of your business while rolling equity to take a second, third and fourth bite of the apple.

Episode Sponsor:
Thanks to DoerenMayhew for sponsoring this episode of the Cashing Out podcast!  DoerenMayhew is one of Forbes best tax and accounting firms in the United States. Check out their Quality of Earnings (QofE) offerings, and everything else they can help you with at doeren.com. 

Episode Highlights:

• (3:32)  April's beginnings as a CPA at PricewaterhouseCoopers, and buying her first home healthcare business from a client
• (8:24)  From initial losses to profitability - building her first big home health care company
• (14:24)  Selling her first business to a flawed owner, and what that meant to her earnout
• (21:51)  Due diligence works in both directions - what April missed the first time around
• (28:39)  Starting her second business, and building through acquisition (first) and organically (second)
• (36:58)  What it meant to find the perfect Private Equity partner
• (39:03)  April's perspective on when to sell your business - lake house or generational wealth
• (43:08)  Self-awareness and entrepreneurship - the importance of being able to objectively look at your skill sets
• (45:27)  Two, three, and four separate bites of the apple that created significant wealth for April and her family
• (51:04)  April's "why", and a healthy balance of profit generation and mission
• (56:35)  Failing at retirement, and creating her next home health care company, the VitalCaring Group
• (58:56)  The importance of having a supportive family and amazing marriage partner

Where To Find Todd Sullivan (Host):

• LinkedIn:  https://www.linkedin.com/in/toddfsullivan/
• Twitter:  https://twitter.com/Todd_Sullivan

Where To Find April Anthony (Guest):

• LinkedIn:  https://www.linkedin.com/in/april-anthony-95bab1213/

Episode 33 Required Reading:

• April Anthony:  Forbes 2022 America's Richest Self-Made Women (#28)
• April Anthony:  Forbes BILLIONAIRESDAILY COVER
• Doeren Mayhew 

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

Episode Highlights:

• (3:32)  AJ's beginning as a serial entrepreneur
• (8:26)  The details behind AJ's first exit, and the strategic partnership that created it
• (13:49)  "Your Price, Our Terms"
• (16:45)  The Creation of business #2
• (18:52)  From near failure to a seven-figure exit
• (25:29)  The importance of defining your "why" in the early days of your startup
• (29:17)  The creation of the JAR Group, and the emotional toll it took on AJ on his team
• (33:32)  Losing his revenue whale at JAR, and the realities of the business left behind
• (35:04)  A burned out CEO, and a fortunate negotiation that led to a significant earnout
• (42:11)  Buying a podcast with BITCOIN
• (47:19)  Final M&A perspectives from a 3x entrepreneur
• (51:12)  The role that friends and family play in an entrepreneur's success

Where To Find Todd Sullivan (Host):

• LinkedIn:  https://www.linkedin.com/in/toddfsullivan/
• Twitter:  https://twitter.com/Todd_Sullivan

Where To Find A.J. Lawrence (Guest):

• LinkedIn:  https://www.linkedin.com/in/ajlawrence3/
• Twitter:  https://twitter.com/ajlawrence

Episode 32 Required Reading:

• What Is Seller Discretionary Earnings ("SDE")?
• Beyond 8 Figures podcast | A.J. Lawrence
• Built To Sell | John Warrillow
• Buy Then Build | Walker Deibel
• 4 Ways to Calculate the Value of Your Business
• Startup Savant Podcast
• TRUIC: Guides To Start And Grow Your Small Business

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

Bud has more than 35 years of insurance industry experience, including founding North Pointe Insurance Co. in 1986, taking it public in 2005, and facilitating its sale to QBE Holdings Inc. in 2008.

Today, Bud is the chairman and CEO of Conifer Holdings Inc, and is responsible for establishing the overall direction and materializing the strategy of the company.  We talk about leaning on experts when taking on new challenges, his learnings from a lifetime of entrepreneurship, and what it’s like building his newest enterprise with his two sons.

I hope you enjoy our conversation with Bud Petcoff.

Episode Highlights:
(3:58)  College life, and starting his first insurance company
(7:46)  Bud's first exit - selling North Pointe Insurance for the first time
(9:00)  In hindsight, should Bud have used an Investment Banker?
(12:11)  Problems at the acquiring company, and buying North Pointe back
(14:43)  Getting North Pointe back on track for another run at success
(16:53)  Taking North Pointe public, and why?
(19:14)  The second exit of North Point Insurance Co.
(22:33)  The big difference in selling a public vs private company
(25:04)  After selling North Pointe Insurance a second time, what comes next?
(28:32)  Final advice for entrepreneurs considering an exit
(30:21)  Building the next enterprise with family
(38:25)  The role that Bud's parents played in creating an incredible human and entrepreneur

Where To Find Todd Sullivan:

• LinkedIn:  https://www.linkedin.com/in/toddfsullivan/
• Twitter:  https://twitter.com/Todd_Sullivan

Where To Find Brian Dukes:

• LinkedIn:  https://www.linkedin.com/in/brdukes/
• Twitter:  https://twitter.com/bdukes32

Episode 31 Required Reading:

• DBusiness Detroit 500 - The Most Powerful Business Leaders In Metro Detroit
• Michigan Law:  1986 Dram Shop Act
• QBE Purchases North Pointe Insurance
• Startup Savant Podcast
• TRUIC: Guides To Start And Grow Your Small Business

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

Early in his career, Rob started selling cell phones through his own retail outlets. After merging his retail locations with a franchise partner, Rob sold off his retail locations and founded ProtectCELL to focus on selling cell phone protection and replacement service plans through operational excellence and great business relationships. ProtectCELL became one of INC magazine's 500 fastest growing companies in the country.

Rob was looking for a financial partner to grow the business further, but ended up selling the majority of the business in 2012 and then selling the remaining equity two years later. Today, after investing in the pet industry as a hobby, Rob is now the owner and CEO of Encompass Pet Group, which distributes high quality pet foods and products, manages pet retail outlets and sells the hugely popular pet Comfort product, Snuggle Puppy.

In our discussion, Rob advises business owners to;  1) build your data room every day so you're ready to exit when a buyer comes calling, 2) conduct real due diligence on your buyer if you're going to roll equity, and 3) how installing operational excellence and infrastructure can allow a business owner to grow by buying other companies.

I hope you enjoy the conversation with Rob Emery.

Episode Highlights:
(5:02) From selling car stereos to opening a retail location - the beginnings of entrepreneurship
(8:02)  How cell phone protection plans kick-started massive growth
(10:10) Managing exceptional growth
(13:02) Getting the M&A (Mergers & Acquisitions) house in order
(16:54) Two bites at the M&A (Mergers & Acquisitions) apple
(22:46) Retirement, and beginning the next step in an exceptional entrepreneurial journey
(25:27) The investment into SnugglePuppy
(31:38) The long term plan for Rob and the Encompass Pet Group
(36:20) The importance of having a proper Data Room in M&A (Mergers & Acquisitions)
(41:33) Fly first class forever...
(41:49) Changing the life of Rob's two niece's and one nephew

Where To Find Todd Sullivan:

• LinkedIn:  https://www.linkedin.com/in/toddfsullivan/
• Twitter:  https://twitter.com/Todd_Sullivan

Where To Find Rob Emery:

• LinkedIn:  https://www.linkedin.com/in/robemery1/

Episode 30 References:

• ProtectCELL Purchased by Fortegra Financial, a Portfolio Company of Summit Partners
• Entrepreneurial Operating System (EOS)
• SnugglePuppy
• 15 Things That Make Being A Single Puppy Owner Easier (USAToday)
• Encompass Pet Group

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

I've known this person my whole life and he helped shape my entire entrepreneurial career with his unwavering encouragement and lifelong words of wisdom when he told me, "No one is ever going to give it to you. You have to fight for every point, every game and every match, every single day." And when he gave examples of great entrepreneurs and athletes that he remembers most, they were always the ones that succeeded with class and integrity.

I hope you enjoy my conversation with my dad, Paul Sullivan.

Episode Highlights:
(2:47)  The beginning's of the Sullivan family entrepreneurial journey - Edith Sullivan Tennis Creations
(8:11)  The Vietnam War, and playing tennis with a US General
(10:57)  Starting the Paul Sullivan Sportswear Company
(15:32)  Winning the Mixed Doubles U.S. National Indoor Championships with Billie Jean King
(19:50)  Inventing the "Spalding Smasher" (the world's first aluminum tennis racquet)
(27:31)  The patent fight with Spalding
(33:22)  A Christmas Eve flood that destroyed the clothing business
(39:12)  The next big opportunity in Iowa
(48:10)  Flying to every Yale hockey game from El Salvador
(59:42)  Final entrepreneurial advice from Paul Sullivan

Where To Find Todd Sullivan:

• LinkedIn:  https://www.linkedin.com/in/toddfsullivan/
• Twitter:  https://twitter.com/Todd_Sullivan

Episode 29 References:
Frequent Flier, Sports Illustrated (1994)

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/

Greg’s superpower is clearly his financial expertise - so, you'll hear his warnings for CEOs who need to better manage businesses around cash flow instead of the P&L. We discuss how buyers and sellers clash over net working capital adjustments, which is one of the most contested issues in M&A (Mergers & Acquisitions) transactions. You'll learn how Greg believes that M&A is the ultimate sales process and how being prepared to sell at any time is critical to taking advantage when the right buyer comes knocking.

Today, Greg has found his calling at Eventus Advisory Group helping entrepreneurs, small business owners, and CEOs to understand their pain points around finance and accounting as a fractional CFO.

Episode Highlights:

4:38 - How Hulk Hogan brought down Gawker Media
10:30 - Selling The Wirecutter to The New York Times
18:45 - What is Net Working Capital, and why is it so important in Mergers & Acquisitions
25:37 - Landing at FUTURISM, and helping to launch the Gravity brand
28:22 - Selling off the FUTURISM brand to Singularity University
34:49 - The sale of the Gravity brand, and how COVID nearly killed the deal
40:14 - A lifetime of M&A lessons from Greg Lopez
45:28 - Partnering with good friend, Aaron Spool, to build out Eventus Advisory Group

Where To Find Greg Lopez:

• LinkedIn:  https://www.linkedin.com/in/greg-lopez-4b248b88/
• Twitter:  https://twitter.com/glopeztweets

Where To Find Todd Sullivan:

• LinkedIn:  https://www.linkedin.com/in/toddfsullivan/
• Twitter:  https://twitter.com/Todd_Sullivan

Episode 28 References:

• Negotiating Net Working Capital Adjustments in M&A 
• The Most Expensive Comment In Internet History?
• The New York Times | Wirecutter
• Futurism | Wonder What's Next
• Singularity University
• Consensus Advisors
• Eventus Advisory Group
• Exitwise  

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

John and Todd talk about how he acquired Basha Hummus and El Matador Tortilla Co. to help grow his business to more than $100 Million in sales. We touch on how the Garden Fresh team managed through multiple inbound offers and M&A interest to eventually land on what they thought to be their ideal acquirer, The Campbell Soup Co.  And finally, we discuss what drove John and some new business partners to try to buy the business back just a few years later.

Today, John is an active angel investor and founder of Legacy Fantasy Sports, a fantasy sports platform that allows users to insert their favorite professional players from the past into live professional sports events.

Episode Highlights:

5:48 - Managing inbound interest (M&A) from six different potential acquirers over the years
8:55 - What finally let John to sell Garden Fresh to The Campbell Soup Company
15:50 - The details of the Garden Fresh sale, and what happened next
22:57 - John (and team) have the opportunity to buy Garden Fresh Gourmet back from Campbell's
30:20 - John's first phone call after the sale to Campbell's
31:46 - The joy of bonusing the original employees of Garden Fresh after the transaction
32:54 - John's final Mergers & Acquisition (M&A) advice to his fellow founders and entrepreneurs

Where To Find John Latella:

• LinkedIn:  https://www.linkedin.com/in/john-j-latella/

Where To Find Todd Sullivan:

• LinkedIn:  https://www.linkedin.com/in/toddfsullivan/
• Twitter:  https://twitter.com/Todd_Sullivan

Episode 27 References:

• Garden Fresh Gourmet 
• Garden Fresh Gourmet Acquires Basha Hummus
• Garden Fresh Gourmet Acquires El Matador Tortilla Chip Co.
• Campbell Completes Acquisition of Garden Fresh Gourmet  
• Campbell Soup Sells Bolthouse Farms
• Campbell Soup Announces Deal To Sell Garden Fresh Gourmet
• Legacy Fantasy Sports  
• Exitwise  

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

And he's founded and sold multiple companies to corporate behemoths like AOL and Apple. Joe attributes much of his success to his unwavering perseverance, which was driven home when his college baseball career was painfully cut short. Joe and I also talk about the Herculean efforts needed to get any new business off the ground and then properly positioned to sell when these same businesses are often days from bankruptcy before finding sustainable success.

Finally, we'll learn about Joe's latest venture ExecThread, which is a peer to peer job sharing network. Joe has built ExecThread to close to 1 million of the highest quality business leaders from all walks of life who uncover and share some of the most sought after private job listings for top executives across the globe.

Episode Highlights:

7:18 - As an entrepreneur, the value of selling in the 4th inning

9:40 - Raising Venture Capital may not be the most effective barometer for entrepreneurial success

11:48 - How the regret of leaving his Division 1 baseball team changed everything about Joe's professional career

24:13 - What It's Like To Sell To Apple

30:32 - What was the first thing Joe did after selling HopStop to Apple

34:59 - Joe's next venture, ExecThread

Where To Find Joe Meyer:

• LinkedIn:  https://www.linkedin.com/in/joejmeyer/

Where To Find Todd Sullivan:

• LinkedIn:  https://www.linkedin.com/in/toddfsullivan/
• Twitter:  https://twitter.com/Todd_Sullivan

Referenced:

• ExecThread:  https://execthread.com/
• Exitwise:  https://exitwise.com/

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

Matt built the largest automotive focused CRM platform in North America called VinSolutions, and he sold it to Autotrader for $150 million in 2011.

After selling his second technology company, Stackify, Matt is now focused on building out his current software development firm Full Scale, leveraging all of his experiences and expertise. Matt is also the host of the Startup Hustle Podcast, where he shares insights, tips and stories from his own entrepreneurial journey and from some of the most successful business leaders in the world.

In today's conversation, we talk about being open minded to either raising capital or selling your business to enable the next stage of growth. Matt also shares how important it is to understand how your transaction earnout is achieved when you are no longer making all the decisions.

A few episode highlights:

4:38 - A car dealer walks into Sears to buy a computer... 

7:15 - I'm your Zuckerberg to your Winklevoss

8:21 - The hustle to get VinSolutions off the ground

12:17 - The strategic advantage that created a SaaS rocket ship

18:10 - The pros and cons of taking venture investment to handle exponential growth

22:14 - The Autotrader acquisition, and how it almost didn't happen

26:44 - The "Rule of 40" in valuing the business

39:05 - The potential pitfall of selling to the wrong Private Equity group

I hope you enjoy my conversation with Matt Watson.

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

In our conversation, Brent shares his family dynamics that led to him buying the business. How picking the wrong potential buyer for his business set his exit process back several months. And finally, how Brent determined how much money he needed to sell his company for to comfortably enter the next phase of his entrepreneurial career as a crypto and blockchain investor.

A few episode highlights:

4:35 - Playing in the Men's NCAA Basketball Tournament against #1 seed North Carolina (think Vince Carter & Antawn Jamison)

6:14 - The complexities of growing the family business

24:52 - The peaks and valleys of the Mergers & Acquisitions process...  and having to go through the process twice!

29:35 - The value of M&A expertise in Brent's journey

39:14 - Brent's next entrepreneurial journey, creating a Crypto Hedge Fund, Silver Harbor Capital

I hope you enjoy my conversation with Brent Wall.

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/

In today's conversation Andy and I talk about the debate over selling MaxPreps instead of raising more capital, and how having a great Board of Directors can help set you up for a really successful exit. 

A few episode highlights:

(10:08) ... The thesis behind the creation of MaxPreps, and how it disrupted an entire industry

(13:10) ...  How a lunch and a milkshake at Red Robin lead to a perfect company name

(23:08) ... Building the perfect M&A team to get to a successful exit

(38:41) ... EXIT OVERTIME:  Who did you call?  / How did you celebrate? / How did you reward yourself?

I hope you enjoy my conversation with Andy Beal.

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

After a 13 year journey, in 2015, Sandeep sold his business to Capital One.  For the next 3 years Sandeep immersed himself into how large scale financial products were really built within large corporations, and then used that experience to create an even better software development agency to service large financial institutions, called Kunai.

Today, Sandeep talks about his multiple exits, the pros and cons of working at a large public acquirer, and how he negotiated as part of his exit the ability to build a second business in the exact same industry.  A few episode highlights:

(7:27) ... Going to work at the acquirer - Capital One

(24:51) ...  What drives Sandeepmeer to continue building his next venture, Kunai

(32:52) ... Founder "Lightning Round": Who was the first person you called?  How did you celebrate with your team?  How did you reward yourself?

(36:25) ... Final founder thoughts from Sandeep - encouragement for all types of entrepreneurs, not just those that are trying to build unicorns

I hope you enjoy my conversation with Sandeep Sood.

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

Shannon started her career as a fifth grade elementary school teacher, but as a pastor's wife in need of more income, she pivoted into the life of entrepreneurship.  In 1997, Shannon and her co-founder opened their first children's and maternity consignment event in Tulsa, Oklahoma. They successfully grew their single location business, and in 2003, they decided to begin selling franchises of their concept all across the country.

Over the next 20 years, Shannon and her team built the Just Between Friends franchise to 31 states with more than 151 locations. In 2022, just between friends systemwide revenue surpassed $41 million.  Like for many entrepreneurs, the pandemic brought on a variety of business and personal challenges. So when Shannon was approached to be purchased by her largest franchisee, she knew it was time to sell her business.

Today, Shannon and I talk about her unanticipated start as an entrepreneur, the challenges she faced along the way and her foresight to constantly surround herself with experts and advisors at each step of her entrepreneurial journey.  A few episode highlights:

(6:25) ... Shannon's "why" for creating Just Between Friends

(20:55) ...  JBF's reorganization, and how 50/50 partners decided to "slice the pie"

(34:34) ... Why 2022 was the right time for Shannon to sell the business

(46:20) ... Building the dream team of advisors that set Shannon up to ensure an amazing exit

I hope you enjoy my conversation with Shannon Wilburn.

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

Over the years, with hundreds of transactions under his belt, Kison realized that many business acquirers lacked efficient technology to manage their transaction ins and to ultimately make them successful. To address this problem in 2011, Kison founded Deal Room, an M&A lifecycle management platform for buyers to improve transaction processes and post M&A integrations.

Then in 2016, he founded M&A Science, a collection of M&A educational resources to share M&A, best practices and training anyone looking to master M&A.  In our conversation, Kison and I discuss what we're doing to improve on the M&A industry's performance when it comes to selling companies and also how buyers can improve post integration processes to deliver the value that all parties envision.

A few episode highlights:

(2:56) ... How Kison's early exposure to real estate gave him a launching pad into M&A

(8:25) ...  How Kison's experience in M&A influences his view of dealmaking in 2023

(25:34) ... The launch of M&A Science

(29:25) ... Final advice for founders considering an exit - preparation and curiosity.

I hope you enjoy my conversation with Kison Patel.

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

In our conversation Touraj and I discuss why selling a business is so difficult and how planning and preparation can greatly improve your chances of real transactional success. In fact, Touraj is such an expert on exit preparation that he wrote a bestselling book about the topic called Exit Path: How to Win The Startup Endgame, in which he shares the lessons he's learned over the last 25 years from every side of the M&A table.

A few episode highlights:

(8:43) ... How economic headwinds changed the exit possibilities of Touraj's first venture, Jaxtr

(15:12) ...  An impactful Webs.com Corporate Offsite, and the plan that resulted in a $120M exit to Vistaprint

(20:48) ... A move to the Head of Corporate Development at GoDaddy

(29:00) ... Putting a lifetime of M&A learnings into a best-selling book, EXIT PATH

I hope you enjoy my conversation with Touraj Parang.

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

After a professional break to help coach his kids' hockey and lacrosse teams, in 2000 he decided to get the band back together and build another PEO - AccessPoint.  Today, AccessPoint services more than 330,000 work site employees across all 50 states.  In our conversation, Greg describes his entrepreneurial journey and how company culture, recurring revenue, and HR due diligence helped him to not only sell his companies, but how he measures the companies he acquires today.

A few episode highlights:

(6:10) ... Thinking about value creation and handling inbound M&A interest.

(15:10) ...  Getting prepared for an 8-figure exit, and becoming one of the most profitable business unit within ADP.

(22:38) ... Greg Packer's superpower, and how that led to the creation of his next PEO

(25:06) ... The role of culture in M&A

(36:56) ... In business and sports, "act like you've been there before"...

I hope you enjoy my conversation with Greg Packer.

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

In 2017, Brian saw his next entrepreneurial opportunity on the buy side of M&A and launched Deal Gen Partners, an origination company, discovering opportunities for private equity funds and strategic acquirers to acquire great companies.

Deal Gen Partners currently manages 2.7 billion in buy side mandates, which gives Brian real insight on how buyers are thinking about M&A in 2023 and. So today Brian will share his full entrepreneurial story and offer his advice to our fellow founders about how to make their companies attractive to buyers right out of the gates.

A few highlights:

(10:53) ... The importance of bringing experts into any M&A process

(24:05) ...  Brian's unique perspective seeing both buyer and seller motivations during M&A

(27:02) ... How Deal Gen Partners is similar to an MLB scouting department serving every major league team at the same time

(35:28) ... 2023 M&A Outlook

I hope you enjoy my conversation with Brian Scanlon.

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

On his second exit, Jeff describes the incredible hurdles he and his team overcame to get multiple investors in. With signatures in place to not blow up a deal. Jeff shares his lessons learned on keeping your cap table clean and how time is not your friend in any M&A engagement.

Currently, Jeff is the host of the Founder Breakthroughs Podcast, interviewing fellow founders on their incredible stories, as well as running Startup Mastermind, helping new founders get their businesses off the ground.

Episode Highlights:

(5:30) ... How a throwaway bullet point and a timely moment of silence created another $1M to Jeff and his partners

(9:00) ... The cars that became the motivation for Jeff and his partner (and brother) to sell their first business - Acura NSX and a red Ferrari 355 Spider 

(17:17) ... Selling at the top of the NASDAQ

(22:29) ... In Jeff's 2nd company, the 43 investors and an error by the State of Delaware that almost killed the deal.

Episode 16 Reference Materials:
The Top 6 M&A Deal Killers of Any Business Sale Process

Mergers & Acquisitions Explained:  M&A 101 for Business Owners

Where To Find Jeff Durso:
LinkedIn - https://www.linkedin.com/in/jeffdurso/
Twitter - https://twitter.com/JeffDurso

Where To Find Todd Sullivan (Host, M&A Expert, and CEO of Exitwise):
LinkedIn - https://www.linkedin.com/in/toddfsullivan/
Twitter - https://twitter.com/Todd_Sullivan
Exitwise - https://exitwise.com/
Email - todd@exitwise.com

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/ 

Chris believed so much in this roll up strategy that he negotiated significant equity in the overall business platform, which created a substantial "second bite of the apple" for him when the private equity firm sold the platform just two years later.  On today's episode, Chris and I talk about the importance of preparing to sell a business and choosing the right buyer with the right strategy to maximize your ultimate outcome.

Today, Chris runs T Rex Advisory helping business owners implement simple, proven organizational frameworks to tone down chaos, earn more and go back to falling in love with their business.

A few highlights:

(4:30) ... Working in an ultra-competitive industry and building the moat that changed his future

(11:15) ... Trying to understand what Mobile Air was worth

(22:53) ...  The Kumbaya Dinner, and negotiating the next bite of the apple

(29:44) ... As an entrepreneur, "I left nothing on the field...  and got off the field at the right time to enjoy the fifth quarter of my life."

I hope you enjoy my conversation with Chris.

The Wise Exit is an Exitwise Production. Are you a business owner looking to sell your business faster, for more, and with less complexity? Learn how Exitwise's founder-led team helps you maximize your exit value and simplifies the M&A process: https://exitwise.com/