Built to Sell Radio
Ep 485 After the Deal: The Psychology of Selling—Kill Criteria, Walkaway Mindset & Why “Telling Your Company’s Story” Often Drives Up Your Multiple
Mar 14, 2025
Rob Walling, a serial entrepreneur and TinySeed founder, and Dr. Sherry Walling, a clinical psychologist and mental health advocate for entrepreneurs, delve into the psychology behind selling businesses. They explore crucial concepts like kill criteria, the emotional rollercoaster of exits, and the importance of personal storytelling in boosting company value. Their insights highlight how emotional preparation and strategic planning can distinguish thriving exits from those that leave owners lost. Additionally, they discuss celebrating personal milestones and the significance of financial literacy for future generations.
01:09:30
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Quick takeaways
- Establishing 'kill criteria' helps entrepreneurs determine when to exit a business by assessing specific milestones and realistic goals.
- The 'walkaway mindset' empowers founders during negotiations, ensuring they remain unattached to offers that don't align with their core values.
Deep dives
Understanding Exit Strategies
The episode discusses the concept of exit strategies for entrepreneurs, emphasizing the need to understand when it's time to sell a business. Key insights include developing 'kill criteria'—specific metrics or milestones that indicate when to exit a venture. This involves assessing realistic goals, such as reaching a certain annual revenue, and setting a timeline to evaluate progress. These predetermined exit points can help entrepreneurs make more calculated decisions rather than impulsive ones driven by burnout or frustration.
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