Built to Sell Radio

The fastest way to make a service company unsellable is building it around a personal brand. When clients hire you—because of your reputation, your name, and your specific expertise—you haven't built a business; you've built a high-paying job. And as Gavin Bell realized, you can't sell a reputation. Gavin was known as the "Facebook Ads Guy" in the UK. He was making good money, but he knew that to build a sellable asset, he had to fire himself as the face of the company. He rebranded his firm from "Gavin Bell" to "Yatter," productized his service, and systematically removed himself from sales and delivery. The result? He sold Yatter to a larger agency, Velstar, in a deal that closed just one minute before a major tax deadline. In this episode of Built to Sell Radio, Gavin breaks down exactly how he made the switch.

Some of the richest founders don't run trendy companies. They run dirty ones. The kind of work you'd never brag about at a dinner party, but that quietly throws off real money because it's hard, risky, and most people won't do it. This Built to Sell Radio episode follows Shenar Wood, who built an underground power business by taking on personal risk, earning trust job by job, and eventually selling when he hit a ceiling that had nothing to do with demand, you discover how to: Recognize the hidden ceiling that has nothing to do with demand and everything to do with your balance sheet Stop confusing "more revenue" with "more value" when margin and risk aren't improving Build a reputation flywheel where customers feed you better work because they trust how you operate Separate assets from value so you don't overestimate what a buyer will pay for "stuff" Fix the financial story before a buyer forces an expensive cleanup under pressure Negotiate earn-out terms so the buyer can't hit your results by moving costs onto your books Decide when it's smarter to sell now than grind for years just to add a rounding error to valuation

Most business owners hit a fork in the road. Stay "on the tools" and keep making great money. Or start feathering back your personal involvement so the business can grow beyond you. In this episode of Built to Sell Radio, Dr. Michael Filosi walks through how he made that shift in a dental practice, without jeopardizing cash flow. He didn't rip the band-aid off. He reduced his patient days one day at a time while the practice added clinicians and transitioned patients carefully. Over a few years, his billings went from roughly 43% of revenue to single digits, and he only went to zero once the business was already producing most of his take-home income. In this episode, you discover how to Spot the "capped upside" moment when your time becomes the constraint Feather back from four days on the tools to three, then two, then zero Time each reduction using numbers, not hope Transition customers off the owner without breaking trust Remove key-person risk by ensuring no one producer dominates revenue Keep cash flow steady while you trade personal production for enterprise value The result: Filosi sold his practice and collected 100% of his cash at closing, which is almost unheard of in dentistry.

Built to Sell Radio just dropped a year-end special that pulls the strongest moments from 2025 into one episode. Across four formats (Exit Story, Inside the Mind of an Acquirer, Mastering the Deal, and After the Deal), you discover how to Choose exit value over lifestyle income before comfort caps valuation Spot the "founder-dependent" trap that scares off serious buyers See how buyers price risk, not just revenue and EBITDA Use imperfections as leverage instead of liabilities Build leverage before a first offer quietly sets your ceiling Create real alternatives so negotiations stop feeling one-sided Prepare for the identity shift that hits after the wire clears

If you're feeling a little queasy about the pace of change, you're not alone. AI is accelerating competition in almost every market, and it's making some business models feel irrelevant almost overnight. In this episode of Built to Sell Radio, John Warrillow talks with Ryan O'Leary, who saw a similar wave coming in payments when Shopify started bundling merchant processing into its plans. O'Leary chose to sell before the shift crushed margins, structuring a deal that put most of his cash in hand up front. In this episode, you discover how to • Decide whether to raise capital, hire a CEO, roll equity, or sell • Spot the early signals that a platform is about to "bundle" you into irrelevance • Run a tight sale process with a short target list and still generate multiple LOIs fast • Negotiate for deal structure that protects you, not just a higher multiple • Limit earnout risk by keeping the earnout short and the rules hard to game • Separate emotion from the numbers so you can negotiate clean • Keep your team aligned through the transition by sharing upside, including the earnout

Krista Gurka, a former physical therapist, successfully transformed her owner-dependent Pilates studios into a thriving membership-driven business. She shares how she broke free from burnout by implementing effective systems and hiring a COO. Krista recounts the emotional rollercoaster of negotiating the sale of her business, highlighting the lessons learned from a deal collapse and the importance of asserting non-negotiables. With her strategies, she not only improved profitability but also secured a clean exit on her own terms.

Ujwal Arkalgud, entrepreneur and founder of MotivBase, discusses his journey of transforming a services firm into a productized SaaS platform, ultimately selling for over 15x EBITDA. He shares insights on switching to unlimited support to boost customer engagement and the importance of on-call researchers for credibility. Ujwal also highlights innovative pricing strategies, the significance of a distinct brand philosophy, and lessons learned from a failed acquisition attempt. Post-sale, he reflects on personal freedom and his upcoming book, Invisible Rules, which explores hidden business expectations.

In this insightful discussion, Eric Wiklendt, Managing Director at Speyside Equity, reveals the inner workings of private equity and its impact on business valuations. He explains the crucial difference between 4x and 8x EBITDA multiples, emphasizing factors like risk and growth potential. Eric discusses how customer concentration can significantly affect pricing and shares strategies for navigating complex deals. With a focus on operational improvements, he highlights what truly makes a business a valuable platform in today's market.

Andrew Roberts is a seasoned software entrepreneur who transformed a family-run business into TinyMCE, a leading web text editor. In this discussion, he shares his pivotal decision: maintain a stable, profitable company or chase aggressive growth through private equity. He dives into the challenges of commercializing open source, valuing his brand as an acquisition currency, and navigating personal dynamics during the sale. Andrew also recounts unexpected crises, including a shocking acqui-hire, and how these experiences shaped his new venture, Deliverables.ai.

Chris Hutchins, a serial entrepreneur known for his roles in Milk (acquired by Google) and Grove (acquired by Wealthfront), shares insights on strategic exits. He discusses how companies can value non-profitable assets by focusing on team and product potential. Chris reveals the importance of reframing pitches to highlight product affection over revenue and managing quick acquisition processes. He also emphasizes protecting employees during transitions and shares lessons on the true value of assets in today's market.