20 episodes

Every exit has a story... and we're here to help tell them...

The Cashing Out podcast (brought to you by Exitwise) is an open dialogue with fellow founders and former business owners sharing real stories and offering honest advice around selling their companies to some of the top acquirers in the world.

However, beyond entertaining and educational exit stories, we're here to help demystify the Mergers & Acquisitions (M&A) process. For example:

- How much is my business worth?
- What is Net Working Capital?
- When should I get a Quality of Earnings analysis
- Should I hire an Investment Banker, M&A Advisor, or Business Broker?
- When do I talk to my Key Employees about a possible transaction?

We hope you enjoy... and learn a few things along the way!

CASHING OUT: An Exitwise M&A Podcast Todd Sullivan

    • Business
    • 5.0 • 17 Ratings

Every exit has a story... and we're here to help tell them...

The Cashing Out podcast (brought to you by Exitwise) is an open dialogue with fellow founders and former business owners sharing real stories and offering honest advice around selling their companies to some of the top acquirers in the world.

However, beyond entertaining and educational exit stories, we're here to help demystify the Mergers & Acquisitions (M&A) process. For example:

- How much is my business worth?
- What is Net Working Capital?
- When should I get a Quality of Earnings analysis
- Should I hire an Investment Banker, M&A Advisor, or Business Broker?
- When do I talk to my Key Employees about a possible transaction?

We hope you enjoy... and learn a few things along the way!

    DealRoom and M&A Science, Founder and CEO | Kison Patel

    DealRoom and M&A Science, Founder and CEO | Kison Patel

    Today, my guest is a very experienced and well-known M&A professional and entrepreneur, Kison Patel.  Kison entered the M&A world as a sell side M&A advisor representing commercial banks and hotel chains. 
    Over the years, with hundreds of transactions under his belt, Kison realized that many business acquirers lacked efficient technology to manage their transaction ins and to ultimately make them successful. To address this problem in 2011, Kison founded Deal Room, an M&A lifecycle management platform for buyers to improve transaction processes and post M&A integrations.
    Then in 2016, he founded M&A Science, a collection of M&A educational resources to share M&A, best practices and training anyone looking to master M&A.  In our conversation, Kison and I discuss what we're doing to improve on the M&A industry's performance when it comes to selling companies and also how buyers can improve post integration processes to deliver the value that all parties envision.
    A few episode highlights:
    (2:56) ... How Kison's early exposure to real estate gave him a launching pad into M&A
     
    (8:25) ...  How Kison's experience in M&A influences his view of dealmaking in 2023
    (25:34) ... The launch of M&A Science
    (29:25) ... Final advice for founders considering an exit - preparation and curiosity.
    I hope you enjoy my conversation with Kison Patel.

    • 33 min
    Exit Path: How To Win The Startup Endgame | Touraj Parang

    Exit Path: How To Win The Startup Endgame | Touraj Parang

    Today I have a special guest, Touraj Parang, who has not only founded and sold three venture backed startups, but he's also led eight transformational acquisitions as a corporate development buyer at GoDaddy. Touraj has been a Silicon Valley M&A attorney, a venture investor, an entrepreneurial mentor, and today is the president of Serve Robotics, which provides delivery to people in public spaces using zero emissions autonomous robots.

    In our conversation Touraj and I discuss why selling a business is so difficult and how planning and preparation can greatly improve your chances of real transactional success. In fact, Touraj is such an expert on exit preparation that he wrote a bestselling book about the topic called Exit Path: How to Win The Startup Endgame, in which he shares the lessons he's learned over the last 25 years from every side of the M&A table.

    I hope you enjoy my conversation with Touraj Parang.

    • 44 min
    Built It, Sold It, and Built It Back Up Again... | Greg Packer

    Built It, Sold It, and Built It Back Up Again... | Greg Packer

    Today I have a fantastic guest from my men's league hockey team and serial entrepreneur, Greg Packer. Greg was born in Detroit. He graduated from the University of Michigan, and went on to build two large professional employer organizations (or PEOs). Greg built his first PEO, Amstaff right out of college and eventually sold the business to ADP, which rebranded as ADP Total Source. At ADP Greg built the business to over $700 million in annual payroll which created one of the most profitable business lines for ADP.

    After a brief professional break to help coach his kids' hockey and lacrosse teams, in 2000 he decided to get the band back together and build another PEO - AccessPoint. Today, AccessPoint services more than 330,000 work site employees across all 50 states.

    I hope you enjoy my conversation with Greg Packer.

    • 42 min
    M&A Experience At Every Position On The Field - How To Prepare For An Exit in 2023 | Brian Scanlon

    M&A Experience At Every Position On The Field - How To Prepare For An Exit in 2023 | Brian Scanlon

    Today I have a special guest, M&A expert, and serial entrepreneur, Brian Scanlon. Brian started his career by founding a marketing agency, Social Mediators, a full service digital marketing agency, which he sold in 2014. Brian's exit was not life changing, but he was able to put an entrepreneurial win on the board and much like myself he then decided to focus his attention on helping his fellow founders sell their businesses by entering the world of sell side M&A advisory after helping several business owners orchestrate their exit.

    In 2017, Brian saw his next entrepreneurial opportunity on the buy side of M&A and launched Deal Gen Partners, an origination company, discovering opportunities for private equity funds and strategic acquirers to acquire great companies.

    I hope you enjoy my conversation with Brian Scanlon.

    • 40 min
    In M&A, Time Is Not Your Friend | Jeff Durso

    In M&A, Time Is Not Your Friend | Jeff Durso

    Today I have a special guest, fellow podcaster and serial entrepreneur with multiple exits under his belt, Jeff Durso. Jeff is a Massachusetts native who after attending MIT, sold his first business at the height of the internet bubble in 2000. We'll hear how a strategic partner can turn into an acquirer without any notice and how a well-timed silence during the subsequent negotiation with that buyer was worth an extra $1 million to Jeff.

    On his second exit, Jeff describes the incredible hurdles he and his team overcame to get multiple investors in. With signatures in place to not blow up a deal. Jeff shares his lessons learned on keeping your cap table clean and how time is not your friend in any M&A engagement.

    I hope you enjoy my conversation with Jeff Durso.

    • 38 min
    Creating a "Second Bite of the Apple" in M&A | Chris Meso

    Creating a "Second Bite of the Apple" in M&A | Chris Meso

    Today I have a special guest, friend, and forward-thinking entrepreneur, Chris Meso. In 1989 while still in his twenties, Chris founded Mobile Air, which after more than 30 years of growth has become the largest private, portable HVAC specialty services business in North America. What's special about Chris's story is that not only did he know the right time to sell the business, but Chris also helped the private equity firm who acquired his business envision a strategy to roll up his competitors.

    Chris believed so much in this roll up strategy that he negotiated significant equity in the overall business platform, which created a substantial "second bite of the apple" for him when the private equity firm sold the platform just two years later. On today's episode, Chris and I talk about the importance of preparing to sell a business and choosing the right buyer with the right strategy to maximize your ultimate outcome.

    I hope you enjoy my conversation with Chris.

    • 31 min

Customer Reviews

5.0 out of 5
17 Ratings

17 Ratings

Appjective ,

Real advice for selling your company

All guests have all built and sold companies and their exit stories are filled with real insights that you won’t hear about through traditional new releases. These founder stories are revealing and the advice is often surprising and helpful for anyone interested in selling their company someday.

On Earth as it is in Heaven ,

Glad ExitWise is there

We know where we'll turn when we're ready to sell. Glad Exitwise is there for us, with the expertise to help us wade through those treacherous waters of M&A.

hvrsrh ,

Necessary stories

The real look into how these processes go are so valuable

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