Bob Gilbreath, an accomplished entrepreneur, shares his insightful journey through two successful earn-outs in service businesses, transforming a perceived gamble into financial triumph. He discusses strategies for motivating teams amidst high stakes, the evolution of his digital agency, and the pivotal partnerships that fueled growth. Gilbreath emphasizes the emotional complexities of transitioning from independence to corporate life, highlighting the importance of relationship building and personal growth during the earn-out process.

Most 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. 

When 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 Spectora transformed the home inspection industry by replacing outdated paper reports with a digital platform that streamlined workflows, saved inspectors time, and enhanced the client experience.  But when an acquirer attempted to re-trade the deal at the last minute—adding a $25 million seller’s note, a $10 million earn-out, and a 36-month call option—Kevin learned a hard lesson: just because an offer is on the table doesn’t mean the deal is done.  The acquirer assumed Kevin and his brother would be too invested in the deal to walk away. But thanks to their advisor’s guidance, they stood firm. The result? The acquirer backtracked, offering the original terms. Kevin and his brother still walked, ultimately selling a majority stake at a $90 million valuation to a better partner. 

Selling 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 attract Fortune 500 buyers like PetSmart and Petco. This episode is a roadmap for anyone who wants to sell their business to a strategic acquirer. 

That’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 aviation. Preston shares why private jet travel isn’t just for celebrities and explains how business owners use private aviation to buy back their most valuable asset: time. 

This 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. 

Ben Landers, founder of Blue Corona, shares his remarkable journey of building an 8-figure digital marketing agency aimed at home service businesses. He reveals how he achieved a clean sale without earn-outs, a rarity in his industry. The conversation covers his transition from corporate life to entrepreneurship, the evolution of his business model, and the importance of data-driven marketing. Additionally, Ben discusses the emotional challenges of partnerships and the misconception that wealth equates to happiness, offering deep insights into navigating business sales.

Adam Kerrigan, the founder turned M&A leader, shares his journey from selling his managed service provider to completing 16 acquisitions. He reveals how acquirers often prefer cashless deals and tips for sellers to negotiate better outcomes. Adam discusses the emotional complexities of entrepreneurship, the significance of trust in acquisitions, and the challenges of merging company cultures. He emphasizes the need for clear communication and the importance of relationship-building in the evolving MSP market.

As entrepreneurs prepare for 2025, they delve into key strategies to maximize business value before an exit. The shift to subscription models is emphasized for creating stable revenue. Negotiating the sale becomes critical, with tips on avoiding retrading and leveraging advisors. Entrepreneurs are encouraged to view exits as opportunities for ongoing wealth, especially through private equity. The complexity of selling service-oriented businesses is also explored, alongside the importance of understanding financial structures to ensure smooth transitions.

In this insightful discussion, Adi Gullia, founder of the global skincare brand Grace & Stella, shares his remarkable journey from a $600 investment to selling for 5.8x EBITDA. He opens up about the harrowing experience of nearly facing bankruptcy after a $28 million order fell through. Adi explores effective strategies for branding and distribution, the importance of normalizing financial statements for valuations, and navigating negotiations with multiple offers—all while managing the emotional toll as a new parent.