Advertise on podcast: The Exit - Presented By Flippa

Want a quick estimate of how much your business is worth? With our free valuation calculator, answer a few questions about your business, and you’ll get an immediate estimate of the value of your business. You might be surprised by how much you can get for it: https://flippa.com/exit -- What happens when the company you spent 30 years building is nearly destroyed after you sell it? In this episode of The Exit, host Steve McGarry sits down with Jeffrey House, founder of Ace Cider, to discuss how he helped pioneer America's modern hard cider industry, built a nationally recognized brand, and eventually sold the business for nearly $60 million. Starting with just $1,000 and a move from England to California, Jeffrey went from importing British beer to founding Ace Cider in 1993, growing it into a nationally distributed brand with approximately 20% annual growth and 11 consecutive Hot Brand awards. Despite decades of success, personal health challenges and mounting business pressures led Jeffrey to sell Ace Cider to Vintage Wine Estates in 2021. But when the acquiring company spiraled into bankruptcy, Jeffrey watched his life's work nearly disappear before returning to help revive the brand. Jeffrey and Steve explore the challenges of bootstrapping a consumer brand, navigating acquisition negotiations, knowing when to exit, and the unexpected consequences of selling a business. Jeffrey also shares insights from his book, The Cider King, and the lessons he learned about entrepreneurship, resilience, and protecting a legacy LinkedIn - https://www.linkedin.com/in/jeffrey-house-33900a31/ Grab a Copy of His Book - https://www.ciderking.net/ Ace Cider Website - https://acecider.com/ Key Chapters: 00:00 Introduction to Jeffrey House and Ace Cider 03:10 Jeffrey House's background and early career 06:31 Founding Thames America Trading Company 08:04 Discovering the opportunity in hard cider 10:19 Launching Ace Cider in California 11:47 Bootstrapping and growing the business 13:43 Product innovation and national expansion 15:14 The decision to sell Ace Cider 17:38 Health challenges and the $60 million offer 20:16 Navigating the acquisition process 22:39 Vintage Wine Estates' bankruptcy and Ace Cider's decline 24:08 Attempting to buy back the business 26:48 Returning to revive Ace Cider 28:16 The Cider King and personal stories 29:28 Lessons learned and advice to entrepreneurs 31:26 Where to find Jeffrey House and his book -- The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth? With our free valuation calculator, answer a few questions about your business, and you’ll get an immediate estimate of the value of your business. You might be surprised by how much you can get for it: https://flippa.com/exit -- What does a private equity buyer really look for in a business, and how can founders make sure they’re choosing the right buyer in return? In this episode of The Exit, Steve McGarry sits down with Sequoya Borgman, Founder and CEO of Borgman Capital, to explore the buy side of lower-middle-market M&A. Drawing on decades of experience working on transactions and more than 20 acquisitions since launching Borgman Capital, Sequoya explains what makes a company attractive to buyers, why preparing for a sale can take years, and how factors like cash flow, management, culture, and seller expectations can shape a deal. Sequoya also breaks down how a leveraged buyout works, what happens between signing an LOI and closing a transaction, and why sellers should vet potential buyers just as carefully as buyers vet them. He and Steve discuss keeping management teams motivated after an acquisition, misconceptions about private equity, the impact of elevated valuations and private credit on today’s deal market, and why some firms are holding onto investments longer. Throughout the conversation, Sequoya returns to one of the most important lessons from his career: successful deals ultimately depend on working with good people, aligning incentives, and knowing when to walk away. LinkedIn - https://www.linkedin.com/in/sequoya-borgman-8a6057a/ Website - https://www.borgmancapital.com/ -- The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

On this episode of The Exit, presented by Flippa, Steve McGarry sits down with Elliot Omanson, CEO of OWLFI, to discuss the decisions that determine whether an owner walks away from an exit with wealth preserved—or leaves money on the table. Elliot explains how to know when to walk away, how to think about exit timing, and why tax strategy should be part of the plan well before a transaction closes. They also discuss Elliot’s book, Keep What You’ve Earned, and practical ways business owners can protect the wealth they’ve built. Learn more: OWLFI: https://owlfi.com Elliot Omanson: https://elliotomanson.com Connect with Elliot on LinkedIn: https://www.linkedin.com/in/elliot-omanson/ Get your Flippa business valuation: https://flippa.com/exit The Exit is presented by Flippa.

Want a quick estimate of how much your business is worth? With our free valuation calculator, answer a few questions about your business, and you’ll get an immediate estimate of the value of your business. You might be surprised by how much you can get for it: https://flippa.com/exit  -- What does it take to build a company around your personal brand, then make yourself unnecessary to its success? On this episode of The Exit, Steve McGarry sits down with Heath Adams, founder of TCM Security and co-founder of Breach Point, to unpack his journey from ethical hacker and content creator to building, scaling, and ultimately selling a cybersecurity company. Heath shares how a penetration testing consultancy unexpectedly evolved into an education business after his first Udemy course generated $100,000 in its first week, and how content, community, and word of mouth became powerful engines for the company’s growth. Heath also breaks down the work that went into preparing TCM Security for an eventual exit, including delegating responsibilities, reducing founder dependency, and building a company that could operate without him. He walks Steve through the sale process, from taking acquisition conversations seriously and hiring an M&A firm to receiving multiple offers and choosing strategic fit over the highest bid. They also discuss keeping the deal confidential while running the business, rewarding the team after the acquisition, and why founders should never assume a deal is done until the money is in the bank. Finally, Heath opens up about the unexpected loss of identity that can follow an exit and how that experience is shaping his next chapter as co-founder of Breach Point and Insight Recon. Key Takeaways: Reduce founder dependency before you plan to sell.Delegate early and build a team that can operate without you.Never say no to an acquisition conversation.Multiple offers can create leverage during negotiations.Strategic fit can matter more than the highest offer.A deal is not done until the money is in the bank.Plan for your purpose and identity after the exit. Personal &/or Company Bio: Heath Adams, known online as The Cyber Mentor, is an ethical hacker, educator, and entrepreneur. An Army veteran, he founded and served as CEO of TCM Security, a cybersecurity services and training company he bootstrapped from nothing to an eight-figure exit with no outside capital. Heath has taught cybersecurity to more than a million students across YouTube, Udemy, and TCM Security Academy. He holds an MBA and recently appeared in the documentary Midnight in the War Room. Today he builds software at Breach Point and writes The Heath Adams Letter weekly for more than 34,000 subscribers. LinkedIn - https://www.linkedin.com/in/heathadams/ Websites - https://breachpoint.com/ - https://insightrecon.com/ - https://heathadams.com/  Key Chapters: 00:01 Welcome and Episode Previ03:20 Introduction and Heath's background in ethical hacking 05:28 Starting a pen testing consultancy and initial sales process 06:50 Transition from service to educational business model 08:17 Scaling the business and reducing founder dependency 09:46 Timing and reasons for exit 12:30 Approaching buyers and valuation negotiations 14:18 The sale process timeline and due diligence 18:22 Bidding, LOIs, and final negotiations 21:27 Post-sale team and brand management 22:38 Mistakes and lessons learned in building and selling a business 24:24 Advice to his past self and future entrepreneurs 25:55 Current projects: Breach Point and cybersecurity software -- The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

This episode was recorded prior to the passing of our guest, Matt Bradbury. We are honored to share this conversation and extend our heartfelt condolences to Matt’s family, friends, colleagues, and all those who knew him. -- Want a quick estimate of how much your business is worth? With our free valuation calculator, answer a few questions about your business, and you’ll get an immediate estimate of the value of your business. You might be surprised by how much you can get for it: https://flippa.com/exit  -- When is the right time to sell your business, and how do you know when the right buyer comes along? In this episode of The Exit, Steve McGarry sits down with Matt Bradbury, Founder and Managing Director of BAMA (Business Acquisition and Merger Associates), to discuss what business owners need to know before entering the M&A process. Matt explains why “the trend is your friend” when deciding when to sell, how consistent growth and strong margins can lead to a premium valuation, and why building a company that can operate without its owner makes for a much stronger exit. Matt also shares what sellers should do to prepare their financials, why too many add backs can become a red flag, and how transparency can build trust before and during due diligence. He and Steve dig into buyer retrades, the tactics some firms use to chip away at a deal after the LOI, and why the highest offer is not always the best transaction. Matt also explains why having experienced M&A attorneys and advisors on your side can make the difference between protecting the deal you negotiated and watching it unravel before closing. Personal &/or Company Bio: Matt Bradbury is the Founder and Managing Director of Business Acquisition & Merger Associates (BAMA), a lower middle market M&A firm specializing in buy side, sell side, and management buyout transactions. With more than 35 years of experience supporting acquisitions and business sales, Matt began his career in the fitness industry, where he held leadership roles and worked on numerous acquisitions before founding BAMA. Today, he works with business owners and buyers across industries including manufacturing, distribution, industrial and environmental services, and health and fitness, helping clients navigate transactions and find the right partners for long term success. LinkedIn - https://www.linkedin.com/in/bradburymatt/ BAMA Website - https://www.buysellyourbusiness.com/ Key Chapters: 00:01 Welcome and Episode Preview 02:14 Meet Matt Bradbury and His Unorthodox Career Path 04:15 From the Fitness Industry to M&A 05:53 The Businesses Matt Helps Buy and Sell 06:21 What Makes an Ideal Seller 09:33 Why Humility Matters in M&A 11:25 Knowing When It’s Time to Sell 14:06 Preparing Your Business for an Exit 16:32 Building Trust Through Transparency 21:05 Common Mistakes and Buyer Retrades 26:03 Lessons Matt Wishes He Knew Earlier 30:01 Matt’s Current Projects and Where to Connect -- The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth? With our free valuation calculator, answer a few questions about your business, and you’ll get an immediate estimate of the value of your business. You might be surprised by how much you can get for it: https://flippa.com/exit -- What does it take to build a business that buyers are willing to pay a premium for? On this episode of The Exit, Steve McGarry sits down with entrepreneur and exit expert Mark Mills OBE DL to unpack the strategies that helped him build and scale Cardpoint into a business generating nearly £100 million in annual revenue. Mark shares how an unexpected trip to New York sparked the idea for bringing independently operated ATMs to the UK, why he reverse engineered a 36 month growth plan down to a handful of critical KPIs, and how that disciplined approach helped the company come remarkably close to the ambitious targets he set. Mark also breaks down what founders can start doing today to prepare for a successful exit, from building a repeatable customer acquisition engine to creating a clear growth plan that gives potential buyers confidence in the future of the business. He explains why founders should avoid appearing eager to sell, how continued growth can create leverage at the negotiating table, and why competition between buyers can increase both deal certainty and valuation. Plus, Mark shares a memorable story about literally walking away from a deal to protect its value and reveals the lesson he wishes he had learned earlier in his entrepreneurial career: refine your business model, stay focused, and do one thing exceptionally well. Key Takeaways: Reverse engineer your growth goalsTrack the KPIs that actually matterBuild a repeatable sales enginePrepare for an exit earlyDon’t BE for saleGrow from a position of strengthCreate competition between buyersKnow when to walk awayOwn your marketFocus on doing one thing exceptionally well Personal &/or Company Bio: Mark Mills OBE DL is an entrepreneur, business advisor, and exit expert who has spent decades building, scaling, and selling businesses. He founded Cardpoint plc in 2000 and grew the company to approximately £100 million in annual revenue and £19.8 million in EBITDA by 2006. Since 2007, Mark has used his firsthand experience to help other business owners prepare for and navigate successful exits, with a focus on accelerating growth, maximizing value, and negotiating from a position of strength. In 2022, he was appointed a Deputy Lieutenant of Lancashire, and in 2025, he was awarded an OBE for services to business and charity. LinkedIn - https://www.linkedin.com/in/markrichardmills/ Website - https://mark.co.uk/  Key Chapters: [00:01] Welcome and Episode Preview [02:02] Introduction to Mark Mills OBE DL and His Entrepreneurial Journey [03:59] The Story Behind Cardpoint and Finding the ATM Opportunity [08:34] Scaling Cardpoint and Tracking the Right KPIs [10:43] Reverse Engineering £100 Million in Revenue [16:48] How to Prepare Your Business for an Exit [21:29] Knowing the Right Time to Sell [25:52] How to Increase Your Business Valuation [29:26] Negotiating From Strength and Knowing When to Walk Away [31:47] Mark’s Advice to His Younger Self [33:02] What Mark Is Working on Now -- The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth? With our free valuation calculator, answer a few questions about your business, and you’ll get an immediate estimate of the value of your business. You might be surprised by how much you can get for it: https://flippa.com/exit  -- What makes a business attractive to investors, and how do you know when it is truly ready to scale or sell? On this episode of The Exit, Steve McGarry sits down with Charles Lee, Founder and CEO of Ideation, to explore the lessons Charles has learned from nearly two decades of building his own company and investing in startups across multiple industries. Charles shares why valuations are often more subjective than founders realize, what he looks for during due diligence, and why the strength and honesty of the founding team can matter just as much as the numbers. He also explains why he has become cautious about investing in solo founders and why communication with investors can be an important indicator of how a company is being run. Charles and Steve also discuss the pressures that come with building a venture backed company, the difference between growing and truly scaling a business, and why burnout is rarely the ideal reason to pursue an exit. Charles shares some of the investment mistakes that shaped his approach today, including rushing into opportunities and getting caught up in founder charisma. He also breaks down a company he has advised and invested in for nearly a decade, showing how patience, consistent innovation, profitability, and strong operations can ultimately put a business in a much stronger position for acquisition. His biggest lesson for founders and investors alike is simple: take your time, understand your risk, and do not let urgency make the decision for you. Key Takeaways: Don’t Rush the DealFounder Charisma Can MisleadValuation Is SubjectiveStrong Teams Reduce RiskGrowth Isn’t ScaleDon’t Sell From BurnoutSell With MomentumPatience Creates Better Opportunities Personal &/or Company Bio: Charles Lee is the Founder and CEO of Ideation, a firm that helps brands scale their vision through strategic clarity and smart brand execution. He has worked with clients across industries including technology, financial services, venture capital, sports and entertainment, healthcare, nonprofits, and public institutions, serving as a trusted advisor to executives navigating innovation, brand building, and sustainable impact. Charles is also the author of two books with Wiley Publishing, Design Your Good Life and Good Idea. Now What? LinkedIn - https://www.linkedin.com/in/charlestlee/ Ideation Website - https://theideation.com/ Check out his latest book Design Your Good Life - https://a.co/d/0iufNbAT  Key Chapters: [00:01] Welcome and Episode Preview  [02:31] Charles Lee’s Background  [04:05] How Social Media Marketing Has Changed  [05:14] Creating Content People Actually Care About  [06:07] Charles Lee’s Business and Investment Journey  [08:24] Understanding Valuation and Its Subjective Side  [11:10] What Investors Look for in a Business  [16:14] Common Startup Investment Mistakes  [20:52] Exit Timing and Founder Burnout  [24:02] Charles Lee’s Advice to His Younger Self  [25:48] Current Projects and a Business Built for Acquisition  [28:58] Why Continuous Innovation Matters  [29:15] Where to Find Charles Lee and His Books -- The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth? With our free valuation calculator, answer a few questions about your business, and you’ll get an immediate estimate of the value of your business. You might be surprised by how much you can get for it: https://flippa.com/exit -- What if the best time to prepare for an exit is years before you actually plan to sell? In this episode of The Exit, Steve McGarry sits down with Andrew Brooks, Founder and CEO of Contextual.io, to unpack what more than 25 years of building companies and navigating multiple successful exits has taught him about preparing for a sale. Andrew explains why founders should start thinking about potential buyers early, how the right strategic relationships can eventually lead to acquisition opportunities, and why timing can dramatically change what buyers are looking for in your business. Andrew also breaks down the differences between strategic and financial buyers, the factors that can drive valuation, and why market momentum and buyer urgency can work in a founder’s favor. He shares practical lessons on structuring earnouts, understanding what an offer is really worth beyond the headline number, and avoiding costly mistakes during and after a transaction. Drawing from exits to companies including Sun Microsystems, ReachLocal, Samsung, and most recently Southfield Capital, Andrew offers a firsthand look at how founders can build with the exit in mind long before they are ready to sell. Key Takeaways: Prepare for your exit earlyBuild relationships with potential buyersKnow the right time to sellUnderstand strategic vs. financial buyersUse market momentum to your advantageLook beyond the headline valuationStructure earnouts carefullyMaintain control over performance targetsKeep your business exit ready Personal &/or Company Bio: Andrew Brooks is a technology executive, serial entrepreneur, board member, and investor with a track record of building and scaling high growth companies through acquisition. He began his career at Andersen Consulting before joining SevenSpace, where he led Solution Architecture and Sales Engineering through its sale to Sun Microsystems. He later founded and served as COO of SMBLive, acquired by ReachLocal, and SmartThings, acquired by Samsung, before becoming Managing Partner at Mural Advisors, advising AI driven, PE backed companies. Today, as Founder and CEO of Contextual.io, Andrew leads strategy, product, and partnerships. A Princeton chemistry graduate, he is also an elite endurance athlete, Ironman finisher, and participant in ultra marathon events, including the World Marathon Challenge. LinkedIn - https://www.linkedin.com/in/andrewcarrollbrooks/ Contextual Website - https://contextual.io/ Key Chapters: [00:01] Welcome and Episode Preview [02:18 Meet Andrew Brooks and His Entrepreneurial Journey [04:08] Building Companies and Navigating Multiple Exits [06:50] Preparing Your Business for an Exit [08:51] Strategic vs. Financial Buyers [10:48] Knowing When It’s Time to Sell [15:22] Driving Valuation and Maximizing Your Exit [20:23] Common Exit Mistakes to Avoid [24:28] Lessons Learned and Advice to His Younger Self [26:12] Contextual.io and What Andrew Is Building Now -- The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth? With our free valuation calculator, answer a few questions about your business, and you’ll get an immediate estimate of the value of your business. You might be surprised by how much you can get for it: https://flippa.com/exit  -- What if charitable planning could become an important part of your business exit strategy? In this episode of The Exit, Steve McGarry sits down with Phoenix Hafen, Director of Advisor Solutions at UI Charitable, to explore how business owners can incorporate charitable giving into their exit. Phoenix explains why donating appreciated assets can be significantly more tax efficient than giving cash, how donor advised funds work, and why some founders choose to contribute a portion of their business interest to a donor advised fund before a sale. Phoenix also breaks down how these donations are valued, what happens to the assets after they enter a donor advised fund, and why waiting until a deal is about to close can mean missing the opportunity entirely. The conversation explores less conventional assets, including real estate, Bitcoin, private investments, and even crypto mining equipment, showing how founders can think differently about philanthropy while preparing for a major liquidity event. Key Takeaways: Why appreciated assets can be more tax efficient than cashHow donor advised funds workPlanning charitable giving before a business exitWhy timing matters when making a donationHow donated business interests are valuedUsing real estate, Bitcoin, and other alternative assetsAvoiding common charitable planning mistakesGrowing charitable assets tax free Personal Bio: Phoenix Hafen is the Director of Advisor Solutions at UI Charitable, where he works with financial advisors, donors, and institutions to make charitable giving more efficient and impactful. He has held several roles within UI Charitable, giving him experience across the organization and a deep understanding of donor advised funds and complex asset donations. Phoenix specializes in helping individuals incorporate philanthropy into their broader financial planning, including strategies involving privately held businesses, real estate, securities, and other appreciated assets. He holds a BA in Economics from the University of Utah. Phoenix’s LinkedIn - https://www.linkedin.com/in/phoenix-hafen/ UI Charitable Website - https://www.uicharitable.org/learnmore  Key Chapters: [0:01] Welcome and Episode Preview [03:35] Phoenix Hafen and UI Charitable [04:57] Why Philanthropy Is a Strategic Part of Exit Planning [06:05] The Most Tax Efficient Assets to Donate [07:31] Using Donor Advised Funds for Business Asset Donations [09:25] Valuation and Timing Considerations for Donations [10:42] Handling Different Asset Types: Stocks, Real Estate, Crypto [15:54] Preparing Your Business for Charitable Donations [18:39] Common Mistakes and How to Avoid Them [24:37] Creative and Unique Assets for Donation [27:31] Timeline and Flexibility in Donation Strategies [28:41] Final Advice and Where to Learn More -- The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth? With our free valuation calculator, answer a few questions about your business, and you’ll get an immediate estimate of the value of your business. You might be surprised by how much you can get for it: https://flippa.com/exit  -- What does it take to build a business you can walk away from completely? In this episode of The Exit, Steve McGarry sits down with Dr. Michael Filosi, a dentist turned entrepreneur who transformed a run down two chair dental practice into a thriving ten chair operation with more than 35 staff. After a decade of growth, Michael decided it was time to move on and managed the entire sale process himself, creating competition among private equity buyers and ultimately closing the deal just 81 days after first telling his accountant he wanted to sell. Michael shares how removing himself from day to day production helped create a business that could operate without him and why clean financials, strong systems, and reduced founder dependency can make a company significantly more attractive to buyers. He also discusses creating competitive tension during a sale, knowing when the right time is to exit, avoiding the dangers of waiting until burnout takes over, and the mistakes he made while scaling. Plus, Michael reflects on life after the exit and why founders should start building a sellable business long before they are actually ready to sell. Key Takeaways: Building a business that runs without youReducing founder dependency before an exitCreating competitive tension between buyersKeeping financials clean and transparentPreparing your business to be sellableKnowing the right time to exitIncreasing value while reducing buyer riskManaging burnout before it impacts the businessLearning quickly from hiring and leadership mistakesPlanning for life after the exit -- Dr. Michael Filosi is an Australian entrepreneur and dentist who transformed a run down dental practice into a multi million dollar healthcare business before successfully exiting to private equity in 2025. Over ten years, he removed himself from day to day operations and built a highly profitable business with minimal founder dependency, allowing him to complete a clean walk in, walk out exit with no earn outs or retention period. Today, Michael shares practical insights on entrepreneurship, leadership, scaling, systems, succession, and building a business that can thrive beyond its founder. Michael’s LinkedIn - https://www.linkedin.com/in/michaelfilosi/  Timestamps: [0:01] Welcome and Episode Preview [3:06] From Dentist to Entrepreneur [6:09] From Wall Possums to Practice Owner [8:57] Scaling the Practice and Building for Growth [11:57] Knowing When It Was Time to Sell [15:16] Managing a Fast and Competitive Exit [18:14] Understanding Valuation and Business Worth [22:16] Mistakes, Lessons, and What He’d Do Differently [24:58] Life After the Exit and What Comes Next -- The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth? With our free valuation calculator, answer a few questions about your business, and you’ll get an immediate estimate of the value of your business. You might be surprised by how much you can get for it: https://flippa.com/exit  -- If you're planning to sell your business someday, preparation starts much earlier than most founders realize. In this episode of The Exit, Steve McGarry sits down with Matt Andersen, President and CEO of Westlake Securities, to break down what separates premium acquisitions from deals that stall, retrade, or fall apart entirely. Drawing on more than 27 years of M&A experience and over $5.7 billion in completed transactions, Matt shares the practical strategies founders can use to increase business value, reduce buyer risk, and navigate every stage of the exit process. From financial readiness and quality of earnings to timing the market, deal structures, and the common mistakes that derail transactions, this episode is packed with actionable insights for entrepreneurs preparing for their eventual exit. Key Takeaways: • The biggest drivers of business valuation and buyer interest. • Why financial readiness can make or break a transaction. • Matt's proven nine month framework for preparing and executing a successful sale. • How to determine the right time to exit your business. • The pros and cons of earnouts, seller notes, and rolled equity. • The most common mistakes founders make before going to market. • Why communication, expectations, and preparation are critical after closing. • Matt's advice for entrepreneurs looking to scale before they sell. -- Matt Andersen is President and CEO of Westlake Securities, where he advises middle market companies on mergers and acquisitions, capital raising, growth strategy, and exit planning. With more than 25 years of investment banking experience and billions of dollars in completed transactions, Matt has helped hundreds of business owners maximize company value and navigate successful liquidity events. He is also the author of Completing the Deal and Intentional Growth, and is a frequent speaker on business growth, M&A strategy, and creating long term enterprise value. Matt’s LinkedIn - https://www.linkedin.com/in/matt-andersen-8861811b/ Westlake Securities Website - https://westlakesecurities.com/ Matt’s Latest Book - https://westlakesecurities.com/intentional-growth-the-book/  Key Timestamps: 00:01 Welcome and Episode Preview 02:12 Introduction to Matt Andersen 02:39 Matt's Journey from Acquisitions to Investment Banking 04:48 What Drives Business Valuation? 06:13 Building Transaction Readiness 07:50 Preparing Your Financials and Data Room 10:19 Matt's Nine Month Exit Timeline 13:17 When Is the Right Time to Sell? 17:56 Deal Structures: Cash, Earnouts, and Rolled Equity 20:17 Common Mistakes That Derail Business Sales 22:56 Why M&A Deals Fall Apart 26:36 Advice to My Younger Self 28:09 Matt's Book *Intentional Growth* and Current Projects -- The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth? With our free valuation calculator, answer a few questions about your business, and you’ll get an immediate estimate of the value of your business. You might be surprised by how much you can get for it: https://flippa.com/exit  -- Buying an online business can create life changing wealth, but only if you know what you're looking for. In this episode, Steve sits down with Matt Raad, CEO and co-founder of the eBusiness Institute, to unpack his 15+ year journey of buying, renovating, and flipping online businesses. After starting with traditional manufacturing companies, Matt transitioned into acquiring websites before platforms like Flippa even existed, helping pioneer online business investing. Together, they discuss how experienced buyers uncover hidden value, avoid expensive due diligence mistakes, increase business valuations, and prepare companies for successful exits. Matt also explains why email lists, recurring revenue, and reducing founder dependency have become some of the most valuable assets in today's AI driven marketplace. Whether you're planning to buy your first online business or preparing to sell one, this episode is packed with practical insights you can apply immediately. Key Takeaways: • What separates great online business acquisitions from bad ones • The biggest due diligence mistakes buyers make • How recurring revenue impacts valuation multiples • Why email lists and community are becoming premium assets • How to reduce founder dependency before an exit • What buyers really look for during acquisitions • Lessons from buying and selling businesses for more than two decades -- Matt Raad is the CEO and Co-Founder of eBusiness Institute and Co-Host of the Digital Investors Podcast. Alongside his wife and business partner, Liz, he has spent more than 30 years buying, renovating, and selling businesses, helping thousands of entrepreneurs build and grow valuable digital assets. Today, Matt specializes in teaching professionals and first time buyers how to acquire, scale, and successfully exit online businesses using practical strategies focused on due diligence, valuation, and long term wealth creation. LinkedIn - https://www.linkedin.com/in/matt-raad/ Website - https://www.ebusinessinstitute.com.au/ Podcast - https://www.digitalinvestors.com/  -- Chapters: 00:02:26 Matt Raad's Journey to Online Business 00:07:08 Flippa, Due Diligence, and Hidden Value 00:11:19 Email Lists and Digital Business Assets 00:14:45 Valuation, Recurring Revenue, and Founder Risk 00:19:08 Preparing Your Business for Exit 00:22:26 When Strong Financials Outweigh Founder Risk 00:26:57 Clean Financials and Buyer Confidence 00:27:35 Costly Mistakes in Online Business Acquisitions 00:30:22 Due Diligence Lessons for Entrepreneurs 00:33:52 Where to Find Matt Raad -- The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth?  With our free valuation calculator, answer a few questions about your business, and you’ll get an immediate estimate of the value of your business.  You might be surprised by how much you can get for it: https://flippa.com/exit  Most entrepreneurs spend years preparing their business for sale, but very few prepare themselves for what comes next. In this episode of The Exit, Steve McGarry sits down with Mark Miller, Managing Director of the Hilton Family Office, to discuss what really happens before and after a business sale. From avoiding costly tax mistakes to building the right advisory team and creating systems that increase valuation, Mark shares practical strategies that can help founders protect more of what they've built.  They also explore the emotional side of selling a company, why lifestyle planning matters just as much as financial planning, and the common mistakes that cause entrepreneurs to lose millions unnecessarily after closing the deal. Whether you're planning to sell next year or a decade from now, this conversation offers valuable insights for maximizing both your company's value and protecting your financial future.  Mark Miller is the Managing Director of the Hilton Family Office and CEO of Hilton Tax & Wealth Advisors, where he helps business owners, executives, and high net worth families preserve and grow their wealth using family office strategies. With nearly four decades of experience in financial services, he is a bestselling author and nationally recognized financial expert whose work has been featured in major publications including Kiplinger's, The New York Times, and Money Magazine. Mark specializes in exit planning, tax efficient wealth strategies, and helping entrepreneurs protect what they've built long after the sale of their business. LinkedIn - https://www.linkedin.com/in/markmiller-hiltonfo/  Hilton Wealth Website - https://www.hiltonwealth.com/  Hilton Wealth Book - https://book.hiltonwealth.com/  Timestamps:  [0:01] Episode Preview & Guest Introduction  [2:19] Mark Miller's Background & Career Journey  [4:22] Preparing for an Exit: Financial & Emotional Planning  [8:31] Why Specialized Advisors Matter  [15:24] When Is the Right Time to Exit?  [18:27] Increasing Company Value Through Systems & Marketing  [23:14] Lessons Learned & Hilton Tax and Wealth Advisors  --  The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth? With our free valuation calculator, answer a few questions about your business, and you’ll get an immediate estimate of the value of your business. You might be surprised by how much you can get for it: https://flippa.com/exit What makes a business truly valuable to a buyer, and how do you know when it is actually time to sell? In this episode of The Exit, Steve McGarry sits down with Mike Krupit, founder and CEO of Trajectify, to unpack the leadership decisions that can make or break an exit. Drawing on a career that includes eight startups, three IPOs, an exit, and four failures, Mike explains why founders who remain at the center of everything can become a liability to their own business. He shares how putting the right people in the right seats, documenting critical processes, building strong systems, and delegating real authority can create a healthier and more valuable company. Mike also explores why the best time to sell is often when the business is performing well but approaching its next major plateau, and why founders need to prepare for what happens after the transaction before signing the deal. Steve and Mike discuss preserving company culture through an acquisition or IPO, communicating with employees when an exit process must remain confidential, evaluating leadership teams from the buy side, and avoiding the culture shock that can follow a major transaction. Whether you are actively preparing to sell or simply want to build a business that can thrive without you, this conversation offers a practical roadmap for creating a stronger, more transferable company. Mike Krupit is the founder and CEO of Trajectify, where he advises entrepreneurs, executives, and leadership teams on business growth, organizational development, and major transitions. A veteran of eight startups, Mike has held roles ranging from CTO to COO to CEO and has experienced three IPOs, mergers and acquisitions, and business failures throughout his career. Since founding Trajectify in 2013, he has focused on helping growth stage companies strengthen their leadership, align their people and processes, and successfully navigate the next stage of growth or an exit. LinkedIn - https://www.linkedin.com/in/mkrupit/ Key Timestamps: [2:36] Introduction and Mike Krupit's Background [2:56] Mike's Startup Journey and Leadership Lessons [4:24] Leadership and Business Valuation Factors [5:48] Preparing a Business for Exit: Documentation and Systems [7:12] Culture Preservation During Exit and IPO [10:03] Evaluating Leadership for Acquisition [11:35] Timing the Sale: When Is the Right Moment? [15:37] Mistakes in Exits and Post-Exit Planning [18:22] Driving Up Valuation: Processes and Leadership [19:30] Team Tactics for Confidentiality and Communication [22:27] IPO vs. Acquisition: Culture and Leadership Changes [26:35] Advice to Younger Self and Current Projects -- The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth? With our free valuation calculator, answer a few questions about your business, and you’ll get an immediate estimate of the value of your business. You might be surprised by how much you can get for it: https://flippa.com/exit -- In this episode of The Exit, Steve McGarry sits down with Timothy Lidman, former CEO of ThinkTank and Co Founder and CEO of Clyde, to break down how ThinkTank evolved from a collaborative SaaS startup into a company that was ultimately acquired by Accenture. Tim shares why becoming deeply embedded in customer workflows made the company impossible to ignore, how strong client relationships became the driving force behind the acquisition, and what founders should do long before due diligence begins. Tim also explains the difference between strategic and financial buyers, why timing matters when preparing for an exit, the challenges of valuing a SaaS business through the eyes of a professional services firm, and the lessons he learned from navigating the acquisition process. From preparing your financials and governance to avoiding common mistakes during a sale, this episode is filled with practical insights for founders who want to build a business that strategic buyers cannot afford to pass up. Timothy Lidman is the Co Founder and CEO of Clyde, an AI native collaboration platform helping teams solve complex business problems alongside AI. Previously, he spent more than eight years building Think Tank into a leading collaboration software company before guiding its successful acquisition by Accenture, where he helped lead one of the firm's most successful post merger integrations. With experience spanning WebEx, Cisco, SuccessFactors, SAP, and multiple high growth startups, Tim brings deep expertise in SaaS, AI, strategic growth, and building companies that create lasting enterprise value. Website - https://meetclyde.com/ LinkedIn - https://www.linkedin.com/in/timlidman/ Key Timestamps: [2:32] Timothy Lidman's Journey in Tech [4:40] Key Metrics for Startup Success [5:54] Preparing for Acquisition [9:03] Making the Business Attractive to Buyers [11:54] Learning from Mistakes During Exit [14:51] Timing the Exit [18:58] Valuation Strategies for Acquisition [21:48] Post Acquisition Integration Success [24:39] The Team's Transition After Acquisition [25:40] Advice to My Younger Self [26:44] Introducing Clyde: The Future of Collaboration -- The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/