Secret Leaders with Dan Murray-Serter & Chris Donnelly

My Favourite Failure: "We signed a deal with the devil" Glenn Poulos

Aug 10, 2023

Glenn Poulos, a successful founder, shares his experience of a disastrous acquisition, financial strain, and deception. He talks about how he went from being a potential multimillionaire to broke and starting a new business with resilience. Poulos also discusses the importance of core values in business and selling a business for a higher amount.

11:58

Episode guests

Glenn Poulos

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Episode notes

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Quick takeaways

Aligning core values between employers and employees is crucial for success in a company.

Conducting thorough due diligence during the decision-making process helps entrepreneurs avoid costly mistakes and ensure adherence to core values.

Deep dives

Passonio: Simplifying HR Processes for Small and Medium-Sized Companies

Passonio is a solution that aims to alleviate the burden of HR processes for small and medium-sized companies. It offers an applicant tracking system for hiring and tools to manage employee holidays, reviews, payroll, and offboarding. By using Passonio's comprehensive HR system, businesses can save time and streamline their HR operations. Passonio has already established itself as a trusted platform, serving thousands of companies like Lush, Spend Desk, and Mindful Chef.

Introduction

2min

A Disastrous Acquisition and Financial Strain

2min

Dealing with a Failed Business and Deception

4min

A Tale of Fraud and Resilience

2min

Lessons from Glenn Poulos on Selling a Business and the Importance of Core Values

3min

Glenn Poulos is a successful founder, who exited from his company in 2022. But that was his second exit. His first, 15 years before, was a very different story.

He thought he had achieved the entrepreneur's dream, an eight-figure exit, after selling his business to a public company. With the shares he got in return he was going to be a multi-millionaire.

Instead, he was left with hardly anything, and no job, after having to fire a hundred people.

What happened?

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