The Exit - Presented By Flippa

Want a quick estimate of how much your business is worth? With our free valuation calculator, answer a few questions about your business, and you’ll get an immediate estimate of the value of your business. You might be surprised by how much you can get for it: https://flippa.com/exit -- Are you running a business or building an asset? Many entrepreneurs are so buried in the day-to-day operations that they fail to prepare for the ultimate goal: a successful exit. In this episode, Steve McGarry sits down with Saul Cohen, Partner at The Expert Eye and acquisitions advisor, to demystify the accounting and strategic shifts required to transition from a business operator to a savvy investor. Saul shares his "SCORE" framework for assessing business health, explains why your traditional tax accountant might be hurting your valuation, and reveals the #1 red flag that kills deals during due diligence. Whether you are three years away from selling or just starting your journey, this episode provides a tactical roadmap to unlocking long-term wealth. In This Episode, You’ll Learn: The Valuation Gap: Why optimizing for low taxes can inadvertently lower your business's sale price. The SCORE Framework: A 5-part system to evaluate Systems, Clients, Organisation, Revenue Structures, and Exposure. The "Cow" Analogy: How to view your business as a milk-producing unit rather than a carcass. Timing the Market: When to hold on and when to "take the money" during industry-wide consolidation. The Trust Factor: Why transparency is more important than perfect numbers during due diligence. The Second Ascent: Why second-time founders scale businesses to the same size in a fraction of the time. -- Saul Cohen is an accountant and acquisitions advisor who helps entrepreneurs transition from operators to investors. With a background in tax planning, business exits, and deal-making, he works closely with founders to unlock growth, optimize value, and build long-term wealth. Saul is passionate about helping business owners think strategically about acquisitions, scale sustainably, and create lasting impact beyond their businesses. LinkedIn - https://www.linkedin.com/in/cohensaul/ Website - https://theexperteye.co.uk/ -- The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth? With our free valuation calculator, answer a few questions about your business, and you’ll get an immediate estimate of the value of your business. You might be surprised by how much you can get for it: https://flippa.com/exit -- What happens when you’re at the finish line of a massive business exit and decide to walk away? In this episode, Steve Young, founder of App Masters, joins Steve McGarry to unpack his decade-long journey from a side-hustling app developer to a major player in the mobile marketing space. Steve shares the raw truth behind selling app portfolios on Flippa, the common mistakes founders make during due diligence, and the surprising lessons he learned from a failed multi-million dollar exit. Whether you’re building your first "Minimum Viable Revenue" product or preparing for a seven-figure sale, this episode is a masterclass in patience, clean books, and the power of audience-first business building. -- Steve Young is an author, speaker, and host of the #1 app marketing YouTube channel with 50K subscribers. He has interviewed the biggest names including the co-founder of Shazam, Crossy Road, Mafia Wars, Color Switch, and more! He is also the founder of App Masters the app marketing agency that helps grow apps faster, better & cheaper. Website - https://appmasters.com/ LinkedIn - https://www.linkedin.com/in/stevepyoung/ -- [00:37] Steve’s origins: From a meetup group to building cross-platform iOS and Google Play apps. [01:30] Why niching down into a podcast about apps in 2013 was the catalyst for his 30+ person team today. [04:50] Selling on Flippa: Why "real estate value" and ASO (App Store Optimization) are key drivers for app sales. [07:10] Inside a "failed" major exit: Learning the buyer's mindset and why Steve chose to walk away at the finish line. [10:00] Preparing for the 7 and 8-figure level: The importance of "squeaky clean" books and systemized tax returns. [11:50] The Five Whys: How to determine if it’s the right time to sell or if you’re just experiencing burnout. [13:45] Creative Financing: Understanding seller notes and how they benefit both the buyer and the seller. [15:22] The Golden Rule of M&A: "Until the money is in the bank, pretend you still own it." [19:04] Advice to a younger self: "Do the work, give up the timeline." [21:00] The future of App Masters: Moving from an agency model to an app portfolio team focusing on "Minimum Viable Revenue." -- The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth? With our free valuation calculator, answer a few questions about your business, and you’ll get an immediate estimate of the value of your business. You might be surprised by how much you can get for it: flippa.com/exit -- In this episode, Steve McGarry sits down with Andrew Hulbert, an exited founder who turned a bedroom startup into a £50 million turnover facilities management powerhouse. Andrew shares the unvarnished truth about the "double exit" strategy, how he raised $100 million in private equity, and why he chose to retire at age 37 to become a full-time dad and "jam-maker" on his farm in Oxfordshire. If you are a founder looking to de-risk your life while scaling your business, this episode provides the exact playbook. -- Andrew Hulbert grew a business from his bedroom into one of the UK’s fastest-growing companies in facilities management. In just nine years, he scaled the company to over 500 people, winning more than 40 awards and delivering £0.25bn in contracted services. He went on to create eight figures in exit value for the business, generating significant value for all. Today, Andrew is sharing his story to inspire others and shape the future of entrepreneurship and leadership. LinkedIn - www.linkedin.com/in/andrewhulbert/ Instagram - www.instagram.com/_andrewhulbert/ -- (00:00) – The "Working Class" Spark: From factory-worker roots to launching a business in a bedroom at age 27. (01:10) – Scaling to £50M: The 9-year journey of managing 500 staff and raising $100M in investment. (01:53) – The Art of De-Risking: Why Andrew took £18M off the table early and why "secondary sales" are a founder’s best friend. (03:15) – Hiring Your Replacement: How investing £1M in a new C-suite prepared the business for a massive secondary exit. (05:27) – Losing Control vs. Gaining Liquidity: Navigating the "soul-selling" reality of working with Private Equity. (07:29) – The COVID Catalyst: How the pandemic shifted Andrew’s perspective on fatherhood and forced an exit timeline. (09:48) – Knowing When to Walk Away: The internal "soul conversation" required to recognize the right time to sell. (13:01) – Driving the Multiples: Why your CFO is your most important hire during a sale process. (14:50) – The Momentum Narrative: Using LinkedIn, press releases, and awards to create a "bidding war" environment. (17:41) – The £12M Mistake: Lessons learned from "ratchets" and corporate advisor incentives. (20:44) – The Physical Toll of an Exit: Why Andrew lost 120 lbs and the importance of health during a transaction. (23:20) – Final Wisdom: What the Andrew of today would tell the Andrew of 10 years ago. -- The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth? With our free valuation calculator, answer a few questions about your business, and you’ll get an immediate estimate of the value of your business. You might be surprised by how much you can get for it: https://flippa.com/exit -- Are you building your business with the end in mind? Whether you are ready to sell tomorrow or five years from now, understanding the mechanics of a successful exit is crucial for every founder. This week on The Exit, Steve sits down with Gregory Kovsky, President and CEO of IBA, the Pacific Northwest’s oldest business brokerage firm. With over 25 years of experience and thousands of transactions under his belt, Gregory breaks down the complex game theory of M&A. We dive deep into the specific timing of when to sell, how to "run through the tape" to maximize your multiple, and why selling a business actually requires making four separate sales to four different stakeholders. If you want to avoid leaving money on the table or getting killed in due diligence, this episode is your playbook. In This Episode, You’ll Learn: The "Four Sales" Theory: Why you aren't just selling to the buyer—you also have to sell the CPA, the Attorney, and the Bank. The Two Prime Windows: Why Jan-June and Labor Day-Thanksgiving are the golden seasons for M&A activity. Valuation Multiples 101: How to move the needle from a 4x to a 7x multiple by diminishing risk. The Fatal Mistake: Why failing to disclose material facts (like a competitor moving in across the street) is the fastest way to invite litigation. Pre-Exit Hygiene: Simple fixes—from website refreshes to cleaning up the "boneyard"—that create a strong first impression. The "Marathon" Mindset: Why you must keep your foot on the gas even during negotiations. Timestamps: (02:00) From veterinary clinics to M&A: Gregory’s journey. (04:30) The 4 audiences you must convince to close a deal. (07:45) Why tax season dictates the best time to sell. (11:30) Tactical ways to increase your business valuation immediately. (15:10) The biggest mistake sellers make: The danger of hiding the truth. (25:00) The story of the business that was sold four different times. (27:00) About IBA and the importance of performance-based brokerage. -- Gregory Kovsky is the President & CEO of IBA (International Business Associates), the Pacific Northwest’s oldest and largest business brokerage firm. Mr. Kovsky has successfully negotiated the purchase & sale of over 300 privately held companies and family businesses in Washington, Oregon, Alaska, California, North Carolina, and Massachusetts since joining IBA as a mergers & acquisitions intermediary in 1994. He has successfully facilitated transactions involving manufacturing & distribution companies, industrial, marine, and automotive businesses, technology & software companies, and service, education, and retail businesses. A commercial real estate professional for over 30 years, Mr. Kovsky commonly provides his clients with comprehensive representation in selling a business and the associated real estate. LinkedIn - https://www.linkedin.com/in/gregory-kovsky-460aab7/ -- The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth? With our free valuation calculator, answer a few questions about your business, and you’ll get an immediate estimate of the value of your business. You might be surprised by how much you can get for it: https://flippa.com/exit -- Are you building a business to own a job, or are you building an asset to sell? In this episode, Steve McGarry sits down with Chris Hallberg, Founder of Business Sergeant and an expert EOS Implementer, to dismantle the complexities of exiting a business. Chris shares his personal journey from law enforcement to entrepreneurship, revealing the expensive mistakes he made during his first "fast and furious" exit. We dive deep into tactical preparation for a sale, including how to remove the "owner dependency" trap, the importance of business operating systems in driving up multiples, and how to navigate the ruthless "Fish and Chip" negotiation tactics used by buyers. Whether you are looking to sell in 12 months or 10 years, this episode provides the blueprint for building a company that attracts top-tier buyers and maximum valuation. In this episode, we cover: -- Chris Hallberg is a high-energy entrepreneurial coach, facilitator, and Founder of GoExpand, an officially licensed EOS execution platform, dedicated to helping leadership teams build clarity, accountability, and healthy growth. As a seasoned Certified EOS Implementer®, Chris brings over a decade of full-time EOS experience working with companies across industries to align vision with execution and drive transformative results. Known for his direct yet kind communication style and practical mindset, he has helped more than 100 leadership teams foster world-class cultures and achieve measurable success. Chris blends disciplined operating system implementation with a people-first approach that empowers leaders to get what they want from their business and have fun doing it. Websites - https://bizsgt.com/ - https://goexpand.com/ LinkedIn - https://www.linkedin.com/in/chris-hallberg-01516315/ -- Timestamps: (00:24) – From Uniform to Suit: Chris’s transition from Military Police and Sheriff Deputy to high-growth entrepreneur. (01:42) – The "Expedient" Exit Mistake: Why selling too fast cost Chris a fortune (and how to avoid it). (03:31) – Golden Handcuffs: How to structure your leadership team so the business survives without you. (07:14) – The "Fish and Chip" Model: Understanding the brutal reality of due diligence and last-minute price chiseling. (10:23) – Timing the Market: Assessing trends (like AI) to know when your industry valuation has peaked. (14:19) – Leadership Red Flags: Why "warm and fuzzy" leadership fails during the cold scrutiny of investment bankers. (20:49) – Driving Valuation with EOS: How installing a Business Operating System can double or triple your multiple. 25:28 – The Transparency Dilemma: How to tell your team you are selling without causing a panic (The "Growth Capital" script). (29:08) – The Halo Effect: Why hiring veterans and Special Ops leaders can transform your civilian workforce. -- The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth? With our free valuation calculator, answer a few questions about your business, and you’ll get an immediate estimate of the value of your business. You might be surprised by how much you can get for it: https://flippa.com/exit -- Are you running your business, or is it running you? In this episode, we sit down with Alexis Sikorsky, co-founder of Nightscale, who reveals the brutal truth about the "Grind" and the specific strategies he used to exit his banking software company for a massive multiple. If you are a founder stuck at the $5M–$10M revenue plateau, this episode is a masterclass in cashing out. Alexis breaks down the "$50 Million Mistake", a calculation of the money and time he lost by not knowing the secrets of Private Equity earlier, and how you can avoid it. What You’ll Learn: The "Fish and Chip" Trap: How Private Equity firms lure founders with high valuations only to chip away at the price during due diligence—and how to stop them. Nominal EBITDA vs. EBITDA: The financial metric that matters more than your bottom line. Learn how "dressing the bride" and identifying add-backs can instantly increase your valuation. The Magic Number: Why a $40M valuation is the specific target for a lifestyle where you never have to touch your capital again. The Due Diligence Reverse Card: How to investigate a PE firm by calling the founders they don't want you to talk to. Escaping the Operator Trap: Why you need to fire yourself from day-to-day operations to make your company sellable. -- Alexis Sikorsky is a seasoned entrepreneur, strategic advisor, and #1 international best-selling author who helps founders and SMEs scale with confidence, make smarter strategic decisions, and prepare for long-term growth and successful exits. Over his career, he has founded, scaled, and led multiple companies, including building and selling a software business to private equity in a nine-figure transaction. He is the founder of Sikorsky Consulting Ltd. and a co-founder of KnightScale Partners, where he works closely with founders as a true operator partner, providing experienced, founder-to-founder guidance on scaling, leadership, and value creation. Holding an EMBA from Oxford University, Alexis blends real-world entrepreneurial experience with strategic insight to help business owners future-proof their companies and navigate critical inflection points. Website - https://www.knightscalepartners.com/ LinkedIn - https://www.linkedin.com/in/alexis-sikorsky-consulting/ -- Time Stamps: (01:11) Surviving the 2008 crash: Losing 75% of revenue overnight. (03:46) The "Unbelievable" Offer: Selling for 11x EBITDA based on a future plan. (06:00) Calculating the $50 Million / 5-Year Mistake. (08:59) When is the right time to sell? (The mathematics of the exit). (14:00) Red Flags: Detecting the "Fish and Chip" strategy. (20:30) How to boost valuation using Nominal EBITDA and non-recurring costs. (27:30) Why you should do M&A earlier than you think. -- The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth? With our free valuation calculator, answer a few questions about your business, and you’ll get an immediate estimate of the value of your business. You might be surprised by how much you can get for it: https://flippa.com/exit -- What happens when your business explodes with growth at the exact moment your personal life falls apart? In this episode, we sit down with Chelsea Jones, co-founder of Sunny Road, to unpack a journey that defines entrepreneurial resilience. From losing her life savings on a failed MLM venture to building a successful agency during the chaos of COVID, Chelsea’s story is a masterclass in pivoting. We dive deep into the messy reality of agency life, discussing the "dark side" of partnerships, how to navigate a buyout while battling a cancer diagnosis, and the complexities of merging two seven-figure companies. Chelsea also opens up about the "Napkin Pitch" concept and why women entrepreneurs need to stop waiting for perfection and start selling their vision. If you are an agency owner, an e-commerce founder, or an entrepreneur navigating a transition, this episode offers the blueprint for survival and scale. In this episode, we cover: The "Fail Fast" Mentality: Lessons learned from a $5,000 loss and early MLM failure. The COVID Scale-Up: Going from 5 to 32 employees overnight and the operational debt that followed. The Buyout & The Battle: How Chelsea bought out her burning-out partner while simultaneously undergoing cancer treatment. Merging & AI: Navigating a merger between friends and how AI has slashed design fees from six figures to low fives. The "Napkin Pitch": Why you need to run into the room with your idea before it's fully fleshed out. Exit Strategy: How to prepare your books and your mindset for a sale long before you're ready to leave. Key Timestamps: (00:00) Intro (01:55) The $5,000 mistake: Learning from early failure (05:14) Scaling during COVID: Managing rapid growth and team burnout (07:27) The Crucible: Buying out a partner while fighting cancer (10:50) Merging companies and the impact of AI on agency pricing (13:21) How to prepare your financials for a merger or exit (18:15) When is the right time to sell? (20:02) The "Napkin Pitch": Overcoming perfectionism in business (23:38) What Sunny Road does for E-Commerce brands -- Chelsea Jones is a visionary e-commerce leader, Shopify Platinum Partner, and co-founder of Sunny Road. She first built her reputation at Chelsea & Rachel Co., the first women-founded agency to achieve Shopify Premier status, where she created high-performing online stores and became a trusted partner for brands looking to scale. In 2023, she joined forces with Drew Himel of Fireside Digital to launch Sunny Road, a digital agency that blends creative excellence with data-driven growth. Today, Chelsea leads with the same passion and client-first approach that have defined her career, helping brands build e-commerce experiences that shine. Website - https://sunnyroad.co/ LinkedIn - https://www.linkedin.com/in/chelsea-jones101/ -- The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/