Build Better Business with Chuck Crumpton

Chuck Crumpton
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The Build Better Business Podcast, hosted by Chuck Crumpton, is a podcast by business leaders for business leaders. We have great guests every week discussing all areas of business from growth to possible exits. Entertaining and packed with great value. Enjoy the show! StrategicAdvisoryForum.com

  1. 4D AGO

    Do partnerships work? Ryan Atkinson recently sold his business for a 6x multiple.

    In my opinon, partnerships are like marriages without love. Ryan challenged my view. He has had two successful exits - first with Redwood Global (sold in 2014) and most recently with Core Resources (sold in February 2025 for over 6x EBITDA multiple)  Both companies operated in the staffing/human capital space, with Core Resources focusing on IT professionals for banks and financial institutions. Partnership Success Story - Ryan's partnership with Keith at Core Resources exemplifies how partnerships can work when done right. Ryan learned from partnership challenges in his first venture and applied those lessons to create a much smoother relationship the second time around. Ryan emphasized the importance of:Clean financial records to minimize due diligence issues Strong CPA involvement for tax planning and working capital negotiations Understanding true net proceeds after taxes, fees, and employee bonuses Key Advice for Entrepreneurs.Ryan's message to business owners: "Enjoy the journey of building and running your business"  He emphasized that the struggles and challenges help shape character and resilience, and entrepreneurs will look back on their journey with pride and joy. If I can help you or your business, let me know. Enjoy the episode. Chuck Crumpton StrategicAdvisoryForum.com

    59 min

  2. NOV 5

    M&A Attorney Hal Cobb talks about critical elements to consider when selling your business!

    These are a few of the points Hal and I discussed during our conversation. Reach out to us to help you scale your business before exiting; Chuck Crumpton 864.915.0066 Strategic Advisory Forum, LLC Major Pitfalls Before SellingOwner dependency: Many businesses are built around the owner rather than being sustainable operationsLack of preparation: Business owners often too busy working "in" the business to prepare for exitValuation misconceptions: Not understanding true company value vs. owner valuePoor record keeping: Inadequate documentation and financial systemsCritical Process Elements Early Steps:Non-disclosure agreements are essential before sharing sensitive informationLetter of Intent (LOI) should be carefully drafted with legal inputTeam approach is crucial - attorney, CPA, advisor, and potentially brokerPrice vs. Terms:Terms matter more than price in the long runBeware of "your price, my terms" scenariosSeller financing arrangements can become problematicPayment structure significantly impacts actual value receivedDue Diligence Process Financial Documentation Required:3-5 years of tax returns and financial statementsCurrent P&L and balance sheetCash flow analysis and working capital needsAccount receivables/payables agingAdditional Documentation:Loan agreements and banking relationshipsReal estate leases and property documentsEmployee agreements and HR issuesLitigation history and pending legal mattersEnvironmental assessments (if applicable)Key Advice for Business OwnersPrepare early - Begin with the end in mind, even if selling is years awayBuild a sustainable business that doesn't depend entirely on the ownerMaintain clean records and organized documentationEngage legal counsel early in the processDon't count on the deal until it closes - have a Plan BFocus on living your life during the process rather than waiting for the outcomePost-Exit ConsiderationsMany successful entrepreneurs struggle with retirement/inactivityHaving a plan for "what's next" is crucialAvoid making hasty reinvestment decisions due to urgency to get back in the gameBottom Line: "Time kills deals" - being prepared and organized significantly increases the probability of a successful transaction. Selling a business requires a village of professionals and that business owners shouldn't attempt to navigate the complex legal and financial aspects alone.

    1h 7m

  3. OCT 29

    Frank Cottle has acquired more than 44 companies...this is his journey.

    Frank Cottle is the founder and CEO of Alliance Virtual Offices with over 50 years of M&A experience. He has been involved in numerous transactions on both buy and sell sides, including acquiring 44 companies in a 3-year period while working with Deloitte in the late 1990s. He challenges the traditional "win-win" approach, arguing that successful deals require each party to believe they got the better side of the transaction. This creates stronger commitment from both parties, even though deals are rarely perfectly balanced. When evaluating acquisitions, Cottle focuses on three fundamental questions: How big is the addressable market?Where does the company sit in the marketplace pecking order?How good is the management team?He emphasizes that the business model comes before profitability - if the model is sound, profits can usually be optimized later. Frank Cottle Chairman, CEO & FounderChairman, CEO & Founder Alliance Virtual Offices Please let me know how I can help your business. Thanks for listening! Chuck Crumpton StrategicAdvisoryForum.com

    58 min

  4. OCT 15

    Hampus Jakobsson's $150 million-dollar exit to Blackberry

    Capitivating conversation with Hampus. You're gonna like this guy and his story! Some of the episode details are below. Let me know if we can help your business grow and get ready for an exit like he enjoyed. StrategicAdvisoryForum.com Key Takeaways: Founder alignment is crucial - invest in structured communication processesFocus on strategic value, not just financial metricsBuild relationships with potential acquirers as future partnersHold your ground in negotiations, even under pressureConsider acquisition as career opportunity, not just financial exitMission and vision matter more than just financial incentives for retentionThe conversation showcases how a well-prepared team with strong internal alignment can successfully navigate a complex acquisition with a much larger company while maintaining their values and securing excellent outcomes for all stakeholders. Why Blackberry Paid Premium: Strategic necessity: Blackberry had publicly demoed a product they couldn't actually buildMarket monopoly: Every major phone manufacturer (Nokia, Samsung, Motorola) told Blackberry they used TAT for similar projectsTalent scarcity: Building a 200-300 person team with TAT's expertise would take yearsRevenue multiple: Deal was structured at ~4x annual revenue rather than traditional EBITDA multipleSmart Negotiation Tactics: Limited founder presence at legal negotiations to avoid divide-and-conquer tacticsHigh-level focus: Hampus stayed out of legal details, focused on big-picture issuesHolding ground under pressure: When Blackberry tried last-minute changes with 180 employees waiting for announcement, Hampus calmly delayed the meetingRelationship building: Focused on future working relationships, not just the transaction

    1h 7m

  5. OCT 8

    Shark Tank guest & inventor David Frankel shares his journey through the patent process!

    This conversation between Chuck and David Frankel, founder of Perky LLC, focusing on entrepreneurship, product development, and the challenges faced by inventors.   David shared his entrepreneurial journey, emphasizing the significance of trust.  David highlighted the low success rate of patented products reaching the market, attributing this to inventors' hesitance to face rejection and their lack of marketing resources. He discussed the importance of developing prototypes and taking proactive steps to promote inventions. Chuck contributed a personal anecdote about a syringe prototype that, despite positive feedback, never made it to market, illustrating the common struggles innovators face in transitioning from concept to execution. This segment underscored the critical challenges inventors encounter in bringing their ideas to fruition.The discussion also covered David's experience with the audition process for Shark Tank, where he advanced through multiple rounds, showcasing the rigorous vetting process of the show. He shared the inspiration behind his product, the perky collar, which emerged from a personal frustration with traditional dress shirt collars. David explained how he refined the design and sourced materials, leading to the successful launch of one of his nine inventions in the clothing space. This narrative highlighted the importance of identifying market needs and the iterative nature of product development. David provided insights into effective marketing strategies, emphasizing the necessity of a strong social media presence and the potential benefits of hiring marketing experts. He advised focusing on a single product idea to avoid financial strain and maintaining good credit to support business operations. Additionally, he discussed the financial implications of acquiring patents and trademarks, stressing the importance of strategic timing in pursuing international protections. The conversation concluded with a focus on community involvement and the value of support networks for entrepreneurs, as exemplified by David's initiatives in the Charlotte Entrepreneur Think Tank. If I can be of help to you and your business, please let me know. Chuck@StrategicAdvisoryForum.com Thank you for your 5-star review!

    46 min

  6. OCT 1

    4x UK Business Mentor of the Year - Christine Nicholson talks about the 7 inches between the ears

    This is a conversation between Chuck Crumpton (host) and Christine Nicholson, a UK-based business mentor who has been voted UK Business Mentor four times and is based in the London area. Key Topics Discussed The Ripple Effect of Small Business. Christine emphasizes that small business owners are the backbone of society, creating economic benefits that extend far beyond their immediate operations: Impact on customers, suppliers, employees, and their familiesCommunity effects (she shares an example of a pub closing when a local factory shut down)Small businesses keep economies and communities alive at the core levelThe Dangers of Role Identity. Both speakers share personal experiences about becoming too attached to their businesses: Christine's story: Experienced mental burnout and took a "gap year" to recover after becoming overly fused with her business identityChuck's journey: Left a high-paying corporate job in 1997 to start his own business, eventually learning to delegate and let his team flourishLeadership vs. Ownership Christine distinguishes between: Business owners: Work in their business daily, often become bottlenecksEntrepreneurs: Have multiple interests and can step backBusiness leaders: Focus on developing others and creating systemsThe Stalagmite vs. Stalactite Metaphor. Christine uses a powerful metaphor to describe two leadership styles: Stalactite organizations: Everyone hangs off the leader, pulling the business downStalagmite organizations: Team members push the leader up, elevating the entire businessKey Takeaway: Christine's closing advice: "Plan your exit" - whether you're just starting, been in business for years, or considering entrepreneurship. If you don't plan your exit, someone else will plan it for you, and they'll be the ones who benefit most. The conversation emphasizes the importance of building sustainable businesses that can thrive without the founder's constant involvement, both for personal well-being and business success. Let me know if I can help you in anyway. Thanks for listening! Chuck@StrategicAdvisoryForum.com

    44 min

  7. SEP 17

    CEO Jeff DeGarmo sold his digital marketing agency for more than 5x multiple EBITDA

    Jeff DeGarmo from Tulsa, Oklahoma joined the podcast to share his entrepreneurial journey. He's a USC and University of Colorado graduate with degrees in aerospace technology, Navy veteran, father of five children (ages 13-30), and triathlon enthusiast who accidentally discovered the sport through friends. Career Transition Jeff made an interesting pivot from a highly technical aerospace background to digital marketing. While serving in the Navy at Tinker Air Force Base, he taught himself web development during the early internet boom (mid-1990s). He left the military in October 2001 (just weeks after 9/11) to join an advertising agency as a web developer, though his initial contract was cut short due to the economic downturn. Building the Business Starting in 2003 with five partners (later reduced to four), Jeff and his team built a digital marketing agency that evolved from 90% web development into a full-service agency specializing in destination marketing, placemaking, and travel/tourism. The partnership worked because each partner had distinct roles: Jeff: Technology, finance, accounting, HR, payrollPresident: Business development and networkingChief Creative Officer: Creative output oversightFourth Partner: Messaging, strategy, and content developmentThe Exit Process Key Achievement: 5X+ EBITDA Multiple. The company was sold for over 5 times EBITDA - significantly above the typical 3-4X average for most businesses. Timeline & Process: Initial Goal: Find an investor to grow from 20 to 50 employeesMarket Process: 7 months from engagement to LOITotal Timeline: 10 months from broker engagement to closingFinal Offers: Two LOIs - one partial buyout (retaining 5%) and one full acquisition by a public companyDeal Structure 50/50 split: Cash upfront and earnout over 3 yearsEmployment agreements: 3-year terms for all four partnersProtection clause: If terminated, partners still received 50% of earnout paymentsGraduated earnouts: Based on KPIs with upside potentialKey Lessons & Advice On Partnerships Four equal partners can be challenging but worked due to complementary skillsSuccess required shared values and ability to "leave egos at the door"Clear role definition prevented conflicts over decision-makingOn Using Brokers Highly recommended but emphasized being selectiveBrokers provide valuable market reality checks on business valuationNegotiate broker agreement terms carefullyLook for brokers with "heart of a teacher" to guide through unknownsOn Due Diligence Public company acquisitions involve extensive due diligence (internal and external accountants, attorneys)Communication strategy is crucial: Plan how to tell employees, vendors, and customersContract review essential: Ensure customer agreements have transfer clausesTransparency helped: Took entire team to meet potential buyerPersonal Outcome Jeff left after 9 months (rather than completing the 3-year employment agreement) due to role redundancy and cultural differences, but his protection clauses ensured he still received earnout payments. He noted this timing was fortunate given COVID's impact on the business in years 2-3.Current Activities. Jeff now works in business brokerage, helping other entrepreneurs prepare for and execute exits. He emphasizes that businesses should be "prepared to exit from day one" and does volunteer work helping veterans acquire existing businesses through the ETA (Entrepreneurship Through Acquisition) space. Key Takeaway: The most impactful moment was the sense of relief on closing day - not just from personal financial security, but from the responsibility of providing jobs for 20 families, highlighting the weight successful business owners carry for their employees' livelihoods. If we can help you build your business before the sale, let me know. Chuck@StrategicAdvisoryForum.com Thanks for listening!

    53 min

  8. SEP 3

    CEO Meighan Newhouse still believes that humans are any organization’s greatest asset.

    In this episode of the Build Better Business Podcast, host Chuck Crumpton speaks with Meg Newhouse about leadership, culture, and preparing organizations for long-term success. Meg shares her expertise on engaging teams, building resilience, and aligning purpose with performance. Listeners will gain practical strategies for cultivating strong workplace cultures, leading through change, and creating lasting business value. This conversation offers valuable insights for business owners who want to grow and sustain remarkable companies. Let my team at SAF know how we can help your company 2x your value. Chuck@StrategicAdvisoryForum.com

    52 min
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The Build Better Business Podcast, hosted by Chuck Crumpton, is a podcast by business leaders for business leaders. We have great guests every week discussing all areas of business from growth to possible exits. Entertaining and packed with great value. Enjoy the show! StrategicAdvisoryForum.com

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