Built to Sell Radio is a weekly podcast for business owners interested in selling a business. Each week, we ask an entrepreneur who has recently sold a business why they decided to sell their business, what they did right and what mistakes they made through the process of exiting their business. Built to Sell Radio is the ultimate insider's guide to approaching the most important financial transaction of your life.
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Ep 491 Inside the Mind of an Acquirer: The Case for Unsexy
1:03:55
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1:03:55What makes someone want to buy an “unsexy” business? Jon Pole has acquired 19 traditional radio stations. On paper, it’s an industry many assume is in decline. But for an experienced buyer like Pole, these deals are less about media trends and more about community, cash flow, and culture.By John Warrillow
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Ep 490 Exit Story: How a Middleman Built and Sold a $19M Distribution Business
52:12
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52:12Sean McAuliffe didn’t invent anything. He was a distributor. If you lost your car keys and went to a locksmith to cut a new set, chances are your locksmith got the replacement key from Sean’s business. He bought cheap keys from Asia and sold them to locksmiths. Nothing fancy. Like so many businesses, Sean was a middleman. He'd never really thought …
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Ep 489 Inside the Mind of an Acquirer: Sequoya Borgman on How Independent Sponsors Buy Companies, Structure Deals, and Spot Pretenders
1:06:52
1:06:52
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1:06:52What do acquirers really want? Sequoya Borgman has acquired 19 companies and exited two. He’s raised capital on a deal-by-deal basis, working outside the traditional private equity model. In this episode of Built to Sell Radio, Borgman explains how “independent sponsors” operate—and why more wealthy individuals are now pooling money to buy lower mi…
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Ep 488 Exit Story: Garren Hilow on Selling for $190M, Taking Stock, and Missing His Earn-Out
59:23
59:23
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59:23When Garren Hilow helped start Abveris, he didn’t have much—just a background in sales, a co-founder with a Harvard PhD, and a stock option representing 16% of the company. Eight years later, he bought out his co-founder, bootstrapped the company with bank debt (collateralized by his house), and sold it in a stock deal that peaked at $190 million.…
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Ep 487 After the Deal: How the Ultra-Wealthy Invest After Selling Their Business
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1:07:15
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1:07:15What would you do with $20 million? That’s the minimum amount required to join Tiger 21, the exclusive network where ultra-high-net-worth entrepreneurs learn how to preserve and grow their wealth. Michael Sonnenfeldt founded Tiger 21 after selling two companies and realizing that the skills that made him a successful entrepreneur didn’t translate i…
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Ep 486 Inside the Mind of an Acquirer: The Harvard Playbook for Buying Your Business
1:00:55
1:00:55
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1:00:55A new generation of buyers trained in Entrepreneurship Through Acquisition (ETA) is looking for businesses like yours. Unlike private equity firms focused on roll-ups, ETA buyers are often searching for a single business to own and operate—making them a legitimate option for certain sellers.By John Warrillow
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Ep 485 After the Deal: The Psychology of Selling—Kill Criteria, Walkaway Mindset & Why “Telling Your Company’s Story” Often Drives Up Your Multiple
1:09:30
1:09:30
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1:09:30For the first time ever, we recorded a Built to Sell Radio episode in front of a live audience at the Value Builder Summit—a gathering of mission-driven advisors dedicated to helping founders level the playing field as they approach their exit. Rob Walling has started, built, and sold multiple companies. As an investor and conference organizer, he’…
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Ep 484 How to Know When It’s Time to Sell
1:10:04
1:10:04
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1:10:04Kristie Shifflette built a 13-location Orangetheory Fitness empire from scratch—bootstrapping a capital-hungry business, personally guaranteeing leases, and taking on risk most founders wouldn’t touch. In the end, it paid off for Kristie and in this episode, you’ll discover how to: Bootstrap a capital-intensive business without giving up control Re…
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Ep 483 Exit Story: Frank Shultz on Escaping the 50/50 Trap and Buying Out a Partner
1:28:07
1:28:07
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1:28:07When Frank Shultz co-founded Infinite Blue, he and his partner split ownership 50/50. The business thrived, but their working relationship soured. Frank wanted to buy out his co-founder, but with a valuation in the eight figures, he faced a daunting question: where would he get the cash?By John Warrillow
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Ep 482 Exit Story: Bob Gilbreath — "The Adult Version of the Marshmallow Test" and How to Capitalize on an Earn-Out
1:17:00
1:17:00
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1:17:00An earn-out is a deal structure where part of the sale price is contingent on the business hitting future performance goals. For many owners, it feels like a gamble—where the payout is uncertain, and the risks are high. But Bob Gilbreath flipped the script. He navigated two complex earn-outs across two service businesses and turned both into massiv…
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Ep 481 After the Deal: What 70 Founders Reveal About Generational Wealth, the Achievement Trap & the Happiness Illusion
1:02:50
1:02:50
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1:02:50Most founders focus all their energy on getting to an exit, but few stop to consider what comes next. In this episode of Built to Sell Radio, John Rood shares what he learned after selling Next Step Test Prep to private equity—and why he decided to write Beyond the Exit.By John Warrillow
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Ep 480 Exit Story: The $80M Deception—How Kevin Wagstaff Walked Away and Won
1:27:38
1:27:38
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1:27:38When Kevin Wagstaff and his brother bootstrapped Spectora, a SaaS platform for home inspectors, with just $2,500 each, they never expected to one day face an $80 million acquisition offer. Spectora transformed the home inspection industry by replacing outdated paper reports with a digital platform that streamlined workflows, saved inspectors time, …
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Ep 479 Exit Story: How to Attract a Fortune 500 Acquirer With Brock Weatherup
1:18:05
1:18:05
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1:18:05Selling your business to a Fortune 500 company is a dream for many founders. Strategic acquirers often pay the most because they can integrate your business into their larger ecosystem. It’s rare to pull off even once—Brock Weatherup has done it three times. In this episode of Built to Sell Radio, Brock reveals the strategies that helped him attrac…
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Ep 478 After the Deal: When Can You Afford to Fly Private? with Preston Holland
1:21:01
1:21:01
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1:21:01That’s why we created the After the Deal series on Built to Sell Radio. This series explores life after selling a business—delving into the personal, financial, and emotional transitions that come when work becomes a choice, not a requirement. In this episode, we speak with Preston Holland, author of Private Jet Insider and an expert in private avi…
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Ep 477 Inside the Mind of an Acquirer: Lessons from Analyzing Thousands of Real-Life Transactions
54:11
54:11
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54:11This week on Built to Sell Radio, John Warrillow interviews Blake Hutchison, CEO of Flippa, the world’s largest marketplace for buying and selling digital businesses. With experience overseeing thousands of real transactions, Blake offers a unique window into the minds of today’s acquirers.By John Warrillow
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Ep 476 Exit Story: How Ben Landers Avoided an Earn-Out in His 8-Figure Sale of Blue Corona
1:11:25
1:11:25
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1:11:25Ben Landers built Blue Corona, an 8-figure digital marketing agency focused on home service businesses, into a data-driven powerhouse. When it came time to sell, Ben achieved something extraordinary: a clean exit with no earn-outs, a rare feat in the service business world where earn-outs are practically the norm.…
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Ep 475 Inside the Mind of an Acquirer: Adam Kerrigan on Selling His Service Business, Acquiring 16 More, and Moving From a 1X to a 15X Multiple
1:04:20
1:04:20
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1:04:20Adam Kerrigan started as the owner of a managed service provider (MSP) business, which he built and eventually sold. After his exit, he joined the acquiring company to lead its M&A group, where he completed 16 deals and helped build a private equity-backed organization. In this episode of Built to Sell Radio, Adam pulls back the curtain on how acqu…
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Ep 474 2024 Year-End Special: The Insider’s Guide to Maximizing Your Exit
38:37
38:37
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38:37As we gear up for 2025, I wanted to highlight the top strategies covered this past year on Built to Sell Radio. These insights are designed to help you increase the value of your business and position yourself for a successful exit.
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Ep 473 Exit Story: How Grace & Stella Survived a $28M Setback to Sell for 5.8x EBITDA
55:15
55:15
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55:15Imagine personally guaranteeing millions in debt to fill a $28M order—only to have it yanked at the last minute. It nearly bankrupted founder Adi Gullia as well as Grace & Stella. Yet he overcame it all and sold at a 5.8x EBITDA multiple.
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Ep 471 Exit Story: Kaelon Egan on Selling AccelaSchool to PowerSchool, Targeting Strategic Buyers, and Avoiding Earn-Outs
31:50
31:50
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31:50In this week’s episode of Built to Sell Radio, John Warrillow interviews Kaelon Egan, the founder of AccelaSchool, who successfully sold his company to PowerSchool—a giant in the K-12 education technology space. For most founders, the ultimate dream is to sell to a strategic acquirer: a well-funded, industry leader with deep pockets. Egan shares ex…
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Ep 470 After the Deal: James Ashford on the Aftermath of Selling a 12-Employee Company for 8 Figures
1:20:36
1:20:36
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1:20:36James Ashford built GoProposal with a clear goal: to sell. From designing the logo with potential acquirers in mind to rallying his team around the vision, James executed his plan with precision. The result? An eight-figure sale to Sage, a FTSE 100 company. But what happened after the deal? In this week’s Built to Sell Radio, part of our After the …
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Ep 469 Inside the Mind of an Acquirer: The Private Equity Roll Up Playbook
1:10:55
1:10:55
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1:10:55If you’re a business owner, chances are buyers are considering your industry for a roll-up. From veterinary clinics to auto body shops, pharmacies to advertising agencies—you name the industry, there’s probably a private equity firm looking to roll it up. This week’s episode is part of our Inside the Mind of an Acquirer series, where we dive into t…
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Ep 468 The Hustler’s Guide to a Big Exit: How Shane Neman Conquered the Business of Partying
1:04:20
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1:04:20What does it take to turn nightlife into big business? Med school dropout Shane Neman cracked the code on the nightclub industry, transforming its back office into a finely tuned, revenue-generating machine. From pioneering one of the first SMS platforms for small businesses to setting up his companies for top-dollar exits, Shane shares the technic…
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Ep 467 From High School Dropout to $419M Exit: Mike Fata’s Journey with Manitoba Harvest
52:52
52:52
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52:52Few founders exemplify resilience like Mike Fata, co-founder of Manitoba Harvest. Growing up in a single-parent, low-income household, Fata dropped out of school in grade 10, struggled with health issues, and found himself weighing 300 pounds by age 18. A life-changing commitment to health led him to discover hemp as a nutritional powerhouse, spark…
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Ep 466 Building a $35M Home Services Business, Overcoming Personal Tragedy, Private Equity ‘musical chairs’, and Securing a 10x EBITDA Exit with Carrie Kelsch
55:39
55:39
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55:39When Carrie Kelsch was encouraged to start a garage door business back in 2004, she had no experience in the industry. By 2022, her company, A Plus Garage Doors, was generating $35 million in revenue with 30% EBITDA margins. This week on Built to Sell Radio, host John Warrillow shares Carrie’s journey—from her first steps in the home services indus…
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