Built to Sell Radio

Dane Pan and his wife built Monet Brands to $1.3 million in revenue with two employees, selling a $24.99 skincare tool that cost them $6.10. When they took the company to market in 2025, nine buyers cleared the proof-of-funds screen and four of them wrote an LOI. The best offer came in close to four times SDE with a holdback attached. Dane countered for all cash at close, watched two of his four offers disappear, and signed at 3.6

In 2016, Janessa White and her business partner started Simply Eloped, a marketplace that planned elopements and small weddings for couples in 35 cities across the United States. They also decided, before they had a single customer, which company they wanted to sell it to. The Knot Worldwide, the largest wedding platform in the world. Over the next seven years, White told The Knot exactly that, met with their corporate development team every quarter for four years, and shared her revenue and margins with them along the way. When she finally emailed to say she was ready, the letter of intent arrived within a week.

One day, you're going to sell your business, and when you do, you'll experience a step function increase in your net worth. Navigating that moment is something Adam Katz has spent his career helping owners do. He spent twenty years at Merrill Lynch as a Private Wealth Advisor to ultra high net worth families before he and his team left in 2018 to build KORE Private Wealth, an independent firm that grew to five billion dollars in assets. Just four years later, they sold. His new book, Making the Zeros Count: A Field Guide for Decamillionaires, Centimillionaires, and Billionaires, distills what he's learned into a playbook for owners who come into sudden wealth. Katz says the greatest benefit of wealth isn't what it buys. It's the freedom of never needing anyone again. Not your clients, not a boss, not a buyer. He argues that kind of independence is impossible to understand until you're on the other side of the deal, which is why, even after decades of coaching founders through liquidity events, he admits he is still adjusting to it himself.

If you own a company, chances are you're its best salesperson. Put you in a room with a prospect and you rarely lose. But listen to your employees try to tell the same story and something gets lost. You've tried hiring salespeople. You've tried training them. The selling keeps landing back on your shoulders, and when it comes time to sell, an acquirer will see it too. Expect an earn-out or an equity rollover, golden handcuffs designed to keep the rainmaker locked in. Here's what most owners miss: you have a built-in advantage no salesperson can replicate. Your founder story defines the enemy, the problem, and why you built something better, and you tell it instinctively because you lived it. A new rep who tries to recite your story will sound like a fraud. The fix isn't better sales training. It's giving your team professional positioning, and nobody on the planet knows more about positioning than April Dunford. She spent 25 years as an executive at seven B2B technology startups, companies that were acquired for a combined total of more than two billion dollars, and her books, Obviously Awesome and Sales Pitch, are the standard playbooks for explaining why customers should pick you over the competition.

Aaron Leibtag was one of the most popular guests in Built to Sell Radio history. He sold his 15-employee bootstrapped healthcare AI company, Pentavere, for $15 million. Pentavere built AI to unlock patient data trapped inside PDFs and clinical notes years before large language models existed. The headline number was $15 million. What it did not reveal was the structure underneath. Part of the consideration was paid in the volatile stock of the acquirer. Aaron and his partners also rolled 49% of their equity into the new entity. Now Aaron returns, and you might be surprised to learn how it all played out. When it comes time to sell, most business owners want 100% cash at closing. Almost no one gets it. Most deals come with structure, and structure usually comes down to three levers: what currency the buyer pays you in (cash versus stock), how they keep you tied to the future after giving up control (earn-out versus equity roll), and what rights either side has to unwind the relationship later.

Ret Taylor spent his entire adult life chasing a number. First it was $30 million. Then $10 million. Then $6 million. Then he sat in a tent at 18,000 feet on Denali with two Arctic storms closing in and realized the number was never the point. He came down the mountain, sold Ned, his natural remedies company, and now guides people through life transitions on multi-day vision quests in the mountains of Colorado. Subscribe to our weekly newsletter: https://builttosell.com/subscribe/ Curious what your business is worth? Find out now

Most founders think they're not great negotiators. John Richardson thinks they're wrong. Richardson has spent decades teaching negotiation at MIT's Sloan School of Management and before that at Harvard Law, where he was an associate at the Harvard Negotiation Project and co-authored foundational texts with Roger Fisher and Howard Raiffa. His new book is called Never Settle. In this episode, you discover how to Subscribe to our weekly newsletter: https://builttosell.com/subscribe/ Curious what your business is worth? Find out now

Jay Richards spent five months deep in an acquisition process. He had a letter of intent. He had mentally checked out. He was planning what came next. Then issues surfaced in diligence and the deal collapsed. This week on Built to Sell Radio, Jay walks John Warrillow through the full story of selling Imagen Insights, a qualitative research platform with clients like Visa, Google, and Amazon, and how you discover how to navigate two very different acquisition conversations and come out the other side with a deal you are genuinely happy with. You'll learn why: an LOI means far less than you think, and how problems in your books can kill a deal founders who shop their company can signal desperation, and what Jay did instead the eventual buyer valued the business on EBITDA instead of revenue, and why that worked in Jay's favor Jay accepted an earn-out worth more than half the deal, and why he was comfortable with it handing out equity without vesting created a problem at the worst possible moment a long-standing accountant relationship does not guarantee clean books, and how this nearly killed the deal the moment the DocuSign came through did not bring relief, but a flood of new ideas