Built to Sell Radio

Jason Cohen shares his experiences of founding two unicorns valued at over $1 billion. Discusses the dilemma of choosing between being rich or king, the importance of purpose in company success, decision-making based on financial thresholds, navigating criticisms after selling a company, and nurturing success through good product taste and capable leadership.

Josh Anhalt started GreenPath Energy in 2007 to help oil and gas companies detect methane leaks in their pipes. Over the years, Josh tried and failed to sell his company three times only to have each deal thwarted for a different reason.  By 2023 GreenPath was generating more than $8 million in revenue when they finally agreed to be acquired by a competitor for around 7 times EBITDA, 90% of which was paid in cash with the balance paid in stock of the acquirer.

Chad Maghielse treats his two French bulldogs like family. When their breath turned foul, he invented a dog breath spray. Within three years, he was making over $2 million in online pet product sales at a 35% profit margin. Then he sold his business.

Jay B Sauceda built a logistics company that helped brands like Howler Brothers ship online orders. At their peak, Sauceda's company had a 150,000 square foot warehouse, 150 employees and was on track to hit $14 million in annual sales when a fateful meeting at an industry conference led Cart.com to make an acquisition offer Sauceda couldn't refuse. 

This week, we continue our series called Inside the Mind of an Acquirer. We started this special series of interviews with acquirers because we want you to understand the perspective of the person across from you in a negotiation to buy your business. This week, we sat down with Bakari Akil, who has acquired two $30 million businesses and now teaches Cornell MBA candidates about entrepreneurship through acquisition.

Mark Ferrier founded the marketing agency TRAFFIKGROUP and grew it to over $2M in EBITDA before agreeing to be acquired by the private equity group Onex in an eight-figure exit.  Mark decided to sell when a friend revealed that most founders end up wishing they had sold 50% sooner for 25% less.

Entrepreneur Mark Ferrier shares his journey in the marketing agency world, including a $2 million lawsuit with former partners. Topics discussed include navigating partnership challenges, dynamics of majority and minority partners, complications of leaving a business, experience with different partners and corporations, protecting core aspects of a business, and understanding partnership structures in service businesses.

When Jon Cross founded Pondera Solutions in 2011, his goal was to reduce fraud in U.S. government programs like Medicaid and Unemployment Insurance. By 2020, Cross and his partners had built Pondera to more than $9 million in annual recurring revenue when they received an offer from Thomson Reuters for a reported $124 million. 

Lloyed Lobo, co-founder of Boast, discusses bootstrapping their way to a $23 million exit. Topics include: simplifying the process of applying for research and development tax credits, building influence through reciprocity, choosing growth equity funding over venture capital, negotiating deal terms and valuation, the challenges of selling equity, personal transformation, the power of community, and the importance of giving on social media.

At the age of 41, Rob Walling sold Drip, an email marketing software for enough money that he "would never have to work again". His only problem? Figuring out what to do next. In this special edition of Built to Sell Radio, we explore how to re-define your purpose and find happiness and fulfillment after you exit your business