Cashing Out

Summary: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 - Introduction01:24 - Nathan's Background and Entrepreneurial Journey09:47 - M&A Process and Due Diligence23:13 - Outsourced Labor and Hiring Levels32:22 - M&A Expertise and Considerations36:16 - Key TakeawaysAbout The Nathan Hirsch:Twitter (X)LinkedInTrioSEOEcomBalanceAccountsBalanceOutsourceSchool

Summary: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.

George Sandmann shares his thoughts on:  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.  LinkedInX (Twitter)The Growth-Driving Advisor: Proven Strategies for Leading Clients from Stuck to Best-in-Class (Forbes 2023 Book by George Sandmann)

EPISODE 65: THIS WEEK'S GUEST - MIKE FINGERIn this episode, Mike highlights the three elements all small business owners should focus on when building a company for a future M&A exit: 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

EPISODE 64: THIS WEEK'S GUEST - CHRIS WISEIn this episode, Chris talks about: 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:LinkedInX (Twitter)YouTubeEPISODE REFERENCE AND READING MATERIALS:Four Hour Workweek (book), Timothy Ferriss

EPISODE 63: THIS WEEK'S GUEST - ROBB GREENIn this episode, Robb talks about: 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:LinkedInI'm The One PodcastI'm The One Podcast (YouTube)Twitter

EPISODE 62: THIS WEEK'S GUEST - WAYNE PARRISHIn 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:LinkedInEPISODE REFERENCE AND READING MATERIAL:The Air Up There: How Canadian basketball has grown and where it's headedThe Sport Gallery (Toronto Location)SPORT Media Entertainment

EPISODE 61: THIS WEEK'S GUEST - CHRISTINE NICHOLSONIn this episode, Christine talks about: 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:LinkedInGet Exit Ready - Business MentorEPISODE 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)

EPISODE 60: THIS WEEK'S GUEST - EDIN BASICIn this episode, Edin talks about: 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:LinkedInEPISODE REFERENCE AND READING MATERIALS:Hony Capital-backed PizzaExpress completes acquisition of FirezzaBeyond Venture Capital: Exploring Funding Options for Entrepreneurs in 2023 (Exitwise blog)

EPISODE 59: THIS WEEK'S GUEST - SARAH GREIFENBERGERIn this episode, Sarah talks about: 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:LinkedInEPISODE REFERENCE AND READING MATERIALS:Arbor Valuation & ConsultingQ5 Experience4 Ways to Calculate the Value of Your Company (Blog)How Much Is My Business Worth? (Blog)Exitwise Valuation Calculator

EPISODE 58: THIS WEEK'S GUEST - JEAN ANNE BOOTHIn this episode, Jean Anne talks about: 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:LinkedInX (formerly Twitter)EPISODE REFERENCES AND READING MATERIAL:Texas Instruments Acquires Luminary Micro, Expands MCU LineupApple buys chipmaker IntrinsityMythic.ai

EPISODE 57: THIS WEEK'S GUEST - RALEIGH WILLIAMSIn this episode, Raleigh talks about: 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. I hope you enjoy my conversation with Raleigh Williams.WHERE TO FIND RALEIGH WILLIAMS:LinkedInX (Twitter)InstagramDealMaven.ioEPISODE REFERENCES AND READING MATERIAL:The unbelievably lucrative business of escape rooms (MarketWatch)

EPISODE 56: THIS WEEK'S GUEST - ANDY PAIIn this episode, Andy talks about:  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:LinkedInEPISODE REFERENCES AND READING MATERIAL:Investing.com Launches Premium Service to Further Empower Retail Investors

EPISODE 55: THIS WEEK'S GUEST - AUSTIN OGILVIEIn this episode, Austin talks about:  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:LinkedInX / TwitterIntro.coMediumEPISODE REFERENCES AND READING MATERIAL:Alteryx Acquires Yhat (Bloomberg)Austin Ogilvie: The Maverick Changing The Game In Digital Compliance

EPISODE 54: THIS WEEK'S GUEST - LLOYED LOBOIn this episode, Lloyed shares: 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:LinkedInX (Twitter)InstagramEPISODE 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.AITractionWhat Is Bootstrapping? (blog)Ten Best M&A Podcasts For Entrepreneurs and Business Owners (blog)

E53: THIS WEEK'S GUEST - MATT BLUMBERGIn this episode, Matt talks about how: 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.WHERE TO FIND MATT BLUMBERG:LinkedInX (Twitter)EPISODE REFERENCES AND READING MATERIAL:Validity Acquires Return Path, the leader in email deliverabilityThe Daily Bolster Podcast, with Matt BlumbergStartup CEO (by Matt Blumberg)Startup CXO (by Matt Blumberg)Startup Boards (by Matt Blumberg)Someone Just Offered To Buy Your Company: Now What? (blog)

E51: THIS WEEK'S GUEST - PROFESSOR JOE O'MAHONEYIn this episode, Joe talks about: 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. We hope you enjoyed my conversation with Professor Joe O'Mahoney.WHERE TO FIND PROF. JOE O'MAHONEY:LinkedInX (Twitter)EPISODE REFERENCES AND READING MATERIAL:Joe O'Mahoney Dot ComFree Resources To Help Your Firm GrowThe Consulting Growth PodcastQuestions To Ask Potential M&A Advisors When Selling Your Boutique (blog)How Much Is My Business Worth (Exitwise Valuation Calculator)

E51: THIS WEEK'S GUEST - KENAN SALEHIn 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 with Kenan Saleh.WHERE TO FIND KENAN SALEH:LinkedInX (Twitter)EPISODE REFERENCES AND READING MATERIALS:2021 Forbes 30 Under 30Lyft Buys Halo CarsLyft creates media division to cash in on in-car ads (TechCrunch)How To Maximize The Value Of Your Business (Exitwise blog)

E50: THIS WEEK'S GUEST - OLIVER LOWIn this episode, Oliver talks 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:LinkedInX (Twitter)Oliver Low's NewsletterEPISODE REFERENCES AND READING MATERIALS:More about Tiny dot comThe 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? 

E49: THIS WEEK'S GUEST - JONAH MIDANIKIn 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. WHERE TO FIND JONAH MIDANIK:Limelight Platform - https://www.limelightplatform.com/Forum Ventures - https://lp.forumvc.com/pitch-us-formLinkedIn - https://www.linkedin.com/in/jonahmidanik/Twitter - https://twitter.com/midanik_jonah

E48:  ELISE MITCHELL - 3 TIME FOUNDER & CEO and TIGER 21 CHAIRToday, 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_i0Mitchell 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-whatWHERE TO FIND ELISE MITCHELL:LinkedIn:  /elisemitchTwitter:  @elisemitch WHERE TO FIND TODD SULLIVAN (HOST, M&A ADVISOR, AND CEO of EXITWISE):LinkedIn: /toddfsullivanTwitter: @Todd_Sullivan

E47:  SVEN MILDER - FOUNDER, STARTUP ADVISOR, and M&A EXPERTToday, Todd Sullivan talks to Sven Milder, a serial entrepreneur who has built, purchased and sold multiple companies throughout Europe and Southeast Asia.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 2023WHERE TO FIND SVEN MILDER:LinkedIn: /svenmilderTwitter: @svenmilderWHERE TO FIND TODD SULLIVAN (HOST, M&A EXPERT, AND CEO of EXITWISE):LinkedIn: /toddfsullivanTwitter: @Todd_Sullivan

E46:  MELISSA KWAN - 3X BOOTSTRAPPER / CEO OF EWEBINARJoin 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-libraryThe 10 Aha! Moments That Got Us to Acquisition While Maintaining 94% Control - Part 1 of 2 | Part 2 of 2The 10 non-negotiables that led me to start eWebinarDesign the life you want to lead (not around the next demo) PROFIT LED Podcast, hosted by Melissa Kwan - https://ewebinar.com/podcastWHERE TO FIND MELISSA KWAN:LinkedIn: /melissakwanInstagram: @themelissakwanTwitter: @themelissakwanWHERE TO FIND TODD SULLIVAN (HOST, M&A EXPERT, AND CEO of EXITWISE):LinkedIn: /toddfsullivanTwitter: @Todd_Sullivan

E45:  Ryan Vaughn - Executive Coach/Founder of Inside Out Leadership 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 Beyond Venture Capital: Exploring Funding Options For Entrepreneurs in 2023 - https://exitwise.com/blog/beyond-venture-capital-exploring-funding-options-for-entrepreneurs-in-2023Where 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_SullivanExitwise - https://exitwise.com/Email - todd@exitwise.com

E44:  Ryan Landau - Founder/CEO of Purpose Jobs and Startup Community ChampionToday 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_SullivanExitwise - https://exitwise.com/Email - todd@exitwise.com

E43:  Craig Dickens - Entrepreneur and CEO of JD Merit Investment BankToday, 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/DickensCraigWhere To Find Todd Sullivan (Host, M&A Expert, and CEO of Exitwise):LinkedIn - https://www.linkedin.com/in/toddfsullivan/Twitter - https://twitter.com/Todd_SullivanEpisode 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-aThe Importance of Quality of Earnings When Selling Your Business - https://exitwise.com/blog/the-importance-of-quality-of-earnings-when-selling-your-business

42: Today, join Todd Sullivan in his conversation with Nick Huber, a serial entrepreneur who has leveraged his substantial social media audiences to drive incredible value for his businesses and for the entrepreneurs who he advises and invests in with.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.comPersonal Brand - https://sweatystartup.comSelf Storage - https://boltstorage.comBold SEO - https://boldseo.comInsurance - https://titanrisk.comRecruiting - https://recruitjet.comLanding Page / Web Development - https://webrun.comOverseas Staffing - https://supportshepherd.comDebt and Equity - https://bluekeycapital.comTax Credit - https://taxcredithunter.comCost Segregation - https://recostseg.comPerformance Marketing - https://adrhino.comPest control - https://spidexx.comWhere To Find Todd Sullivan (Host):LinkedIn - https://www.linkedin.com/in/toddfsullivan/Twitter - https://twitter.com/Todd_Sullivan

E41:  Join Todd Sullivan and Mac Lackey, a serial entrepreneur who's built and sold six businesses with multiple eight figure exits to NBC Sports and News Corp, just to name a few.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 Thanks so much for joining us this week.  Want to subscribe to the CASHING OUT PODCAST?  Have some feedback you'd like to share? Connect with us on iTunes and leave us a review!

E40: Join Todd Sullivan and Greg Head, a software and SaaS expert with multiple exits under his belt, as they discuss his background building exceptional businesses, the experiences that shaped his view of Venture Capital as a growth vehicle, and his path to becoming a champion for practical founders everywhere.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. Thanks so much for joining us this week.  Want to subscribe to the CASHING OUT PODCAST?  Have some feedback you'd like to share? Connect with us on iTunes and leave us a review!

E39: Today our guest is Derek Gaskins, a good friend and founder of Retail Bloom (now Blue Wheel Media), a full service e-commerce and digital marketing company, which Derek created inside the walls of his family's third generation business, Aleva Stores.  Derek grew this business quickly and then separated it from his family's business to sell it to a private equity firm in a very creative and lucrative transaction.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 Thanks so much for joining us this week.  Want to subscribe to the CASHING OUT PODCAST?  Have some feedback you'd like to share? Connect with us on iTunes and leave us a review!

Join Todd Sullivan and Kim Kaupe, Founder of Bright Ideas Only and weekly host of the Coffee With Kim podcast, as they discuss her journey to entrepreneurship and the adventures of creating a number of ultra-successful businesses and media agencies.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 Thanks so much for joining us this week.  Want to subscribe to the CASHING OUT PODCAST?  Have some feedback you'd like to share? Connect with us on iTunes and leave us a review!

On today's episode of Cashing Out, Todd Sullivan speaks with Adam Coffey, a CEO, Board Member, Best-Selling Author (x2), and Acclaimed International Speaker. 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 equity2) how business owners can leverage private equity buyers to create generational wealth3) how hiring experienced advisors at every stage of the exit process will yield your best resultsEpisode 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: (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 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 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?, Exitwise blog post Doeren Mayhew  Thanks so much for joining us this week.  Want to subscribe to the CASHING OUT PODCAST?  Have some feedback you'd like to share? Connect with us on iTunes and leave us a review!

On episode 36 of the Cashing Out podcast, Todd Sullivan speaks with Tyler Hall, a serial entrepreneur and founder of Drivably, a resource inventory platform for car dealers.  Tyler sold his business to a highly strategic public company, ACV, which was the leading digital automotive marketplace for car dealers. This exit was a home run for Tyler and his team, but his stories and advice about getting this deal done are priceless. 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 Doeren Mayhew  Thanks so much for joining us this week.  Want to subscribe to the CASHING OUT PODCAST?  Have some feedback you'd like to share? Connect with us on iTunes and leave us a review!

On today's special episode of The Cashing Out Podcast I'm speaking with Larry Simon, a Certified Public Accountant and partner at Doren Mayhew, a top accounting firm in North America.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  Thanks so much for joining us this week.  Want to subscribe to the CASHING OUT PODCAST?  Have some feedback you'd like to share? Connect with us on iTunes and leave us a review!

On today's episode of Cashing Out, we speak to the founder and CEO of Bray & Co - Peter Bray.  Peter has held executive roles with some of the largest ad agencies in the world, including Saatchi and Saatchi, where he was CEO of The Brand Shop and WPP, where he was the firm's global head of digital.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  Thanks so much for joining us this week.  Want to subscribe to the CASHING OUT PODCAST?  Have some feedback you'd like to share? Connect with us on iTunes and leave us a review!

On episode 33 of the Cashing Out podcast we are very fortunate to be chatting with April Anthony, currently the founder of the VitalCaring Group, which is her fourth home health care company.  April is a home health care and technology entrepreneur with three exits under her belt. She started her career as an accountant, but at the age of 25, with the initial goal of being a stay-at-home mom, April talked herself and her husband into buying one of her clients, which was a failing home health care company. The next 25 years is a remarkable story of perseverance and success where April built and sold three home health care businesses for more than $1.5 billion. 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  Thanks so much for joining us this week.  Want to subscribe to the CASHING OUT PODCAST?  Have some feedback you'd like to share? Connect with us on iTunes and leave us a review!

On episode 32 of the Cashing Out podcast we have A.J. Lawrence, a self-proclaimed journeyman entrepreneur with multiple exits under his belt.  A.J. sold his first web development business to an ad agency a few years out of college. He then moved into I.T. hardware and sold his Wi-Fi router business to his main hardware supplier.  AJ capped it off in 2021 by building and selling a multi-million dollar digital ad agency which made the Inc. 500 twice. Today, A.J. is a student of the entrepreneurial mindset.  Given his success, he is intent on better understanding what makes founders succeed and fail. To this end, A.J. acquired the Beyond Eight Figures podcast to explore and share what makes entrepreneurs tick and how we can all improve our skill sets through the experiences of our fellow founders. In today's discussion, A.J. and I discuss how his companies were valued by strategic acquirers, his understanding of why terms are more important than price in an M&A transaction, and the value of family support when building and selling a business.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 Startup Savant Podcast TRUIC: Guides To Start And Grow Your Small Business Thanks so much for joining us this week.  Want to subscribe to the CASHING OUT PODCAST?  Have some feedback you'd like to share? Connect with us on iTunes and leave us a review!

On today's episode of the Cashing Out podcast, co-hosts Todd Sullivan and Brian Dukes speak to James “Bud” Petcoff, a prolific entrepreneur and CEO.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 entrepreneurWhere 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

Today, my guest is Rob Emery, a serial telecom and pet industry entrepreneur with two exits under his belt.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 nephewWhere 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

Today, I want to do something a little different and share a story about an 82 year old serial entrepreneur who is also a professional tennis player.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 SullivanWhere 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)

On today's episode of the Cashing Out podcast we speak to Greg Lopez, a very experienced operator and entrepreneur with a deep financial and accounting background.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 Media10:30 - Selling The Wirecutter to The New York Times18:45 - What is Net Working Capital, and why is it so important in Mergers & Acquisitions25:37 - Landing at FUTURISM, and helping to launch the Gravity brand28:22 - Selling off the FUTURISM brand to Singularity University34:49 - The sale of the Gravity brand, and how COVID nearly killed the deal40:14 - A lifetime of M&A lessons from Greg Lopez45:28 - Partnering with good friend, Aaron Spool, to build out Eventus Advisory GroupWhere 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  

On today's episode of the Cashing Out podcast we have a good friend and entrepreneur, John Latella.  John is the former owner and CEO of the family-owned iconic food brand Garden Fresh Gourmet, which John and his partners sold to The Campbell Soup Company in 2015 for $231 million.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 years8:55 - What finally let John to sell Garden Fresh to The Campbell Soup Company15:50 - The details of the Garden Fresh sale, and what happened next22:57 - John (and team) have the opportunity to buy Garden Fresh Gourmet back from Campbell's30:20 - John's first phone call after the sale to Campbell's31:46 - The joy of bonusing the original employees of Garden Fresh after the transaction32:54 - 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  

On today's episode of the Cashing Out podcast we have a very experienced operator and entrepreneur Joe Meyer. Joe has built several large business units within larger companies like Upper Deck, PWC and eBay.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 inning9:40 - Raising Venture Capital may not be the most effective barometer for entrepreneurial success11:48 - 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 Apple30:32 - What was the first thing Joe did after selling HopStop to Apple34:59 - Joe's next venture, ExecThreadWhere 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/

On today's episode, we have tech expert, entrepreneur and founder of three successful tech companies, Matt Watson.  As a technical and product-focused founder, Matt has a unique talent for balancing technology and business goals and knows what it takes to sell his business when the time is right. 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 Winklevoss8:21 - The hustle to get VinSolutions off the ground12:17 - The strategic advantage that created a SaaS rocket ship 18:10 - The pros and cons of taking venture investment to handle exponential growth22:14 - The Autotrader acquisition, and how it almost didn't happen26:44 - The "Rule of 40" in valuing the business39:05 - The potential pitfall of selling to the wrong Private Equity groupI hope you enjoy my conversation with Matt Watson.

On Episode 24 of the Cashing Out Podcast we have a great guest, fellow college athlete and former owner of All Star Driver Education,  Brent Wall.  In 2007, Brent bought All-Star Driver Education from his father because they had very different views on how to grow the business. And Brent was tired of working for the family business without having true ownership. Once Brent took the reins, he grew this small family business into a 13 state operation with accompanying software, a platform which he ultimately sold in 2019 to a Private Equity firm.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 business24:52 - 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 journey39:14 - Brent's next entrepreneurial journey, creating a Crypto Hedge Fund, Silver Harbor CapitalI hope you enjoy my conversation with Brent Wall.

On Episode 23 of the Cashing Out podcast, we have a special guest, good friend, and founder of MaxPreps, Andy Beal.  In 2002, Andy launched MaxPreps which became one of America's top sports media properties, and it was the pre-eminent online source for high school schedules, scores, statistics, and video highlights.  In 2007, Andy made the decision to sell MaxPreps to CBS Interactive for $43M.  Andy stayed on with MaxPreps serving as its President for the next 13 years until he left CBS in 2020.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.

Today I have a special guest, serial entrepreneur, and CEO Sandeep Sood.  Sandeep started his career as a designer and application developer for a variety of companies, before launching his first business, Monsoon, a high-end software development agency to the Fortune 500.  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 unicornsI hope you enjoy my conversation with Sandeep Sood.

Today, I have a fantastic guest, Shannon Wilburn, who was co-founder, CEO and today is a board member of the franchise sensation, Just Between Friends.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 exitI hope you enjoy my conversation with Shannon Wilburn.

Today, my guest is a very experienced and well-known M&A professional and entrepreneur, Kison Patel.  Kison entered the M&A world as a sell side M&A advisor representing commercial banks and hotel chains.  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.

Today I have a special guest, Touraj Parang, who has not only founded and sold three venture backed startups, but he's also led eight transformational acquisitions as a corporate development buyer at GoDaddy.  Touraj has been a Silicon Valley M&A attorney, a venture investor, an entrepreneurial mentor, and today is the president of Serve Robotics, which provides delivery to people in public spaces using zero emissions autonomous robots.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 PATHI hope you enjoy my conversation with Touraj Parang.

Today I have a fantastic guest from my men's league hockey team and serial entrepreneur, Greg Packer.  Greg was born in Detroit. He graduated from the University of Michigan, and went on to build two large Professional Employer Organizations (or PEOs). Greg built his first PEO, Amstaff right out of college and eventually sold the business to ADP, which rebranded as ADP Total Source.  At ADP Greg built the business to over $700 million in annual payroll which created one of the most profitable business lines for ADP. 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.