Ep 483 Exit Story: Frank Shultz on Escaping the 50/50 Trap and Buying Out a Partner
Release Date: 02/28/2025
Ep 500 After the Deal: Ben Leonard on Watching His $6M Business Fall Apart After the Exit
Built to Sell Radio
When Ben Leonard sold Beast Gear—a strength and conditioning equipment brand he built from his spare room into a business generating $6 million in revenue—he thought he’d made the deal of a lifetime. He got 80% of the proceeds up front, agreed to a small earn-out, and became the face of Thrasio, the acquirer. Then things started to go sideways.
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Ep 499 After the Deal: The Hidden Cost of Generational Wealth
Built to Sell Radio
You’ve built a valuable company. Maybe you’re even thinking about selling. But what happens after the wire hits? In this episode of Built to Sell Radio, Alex Bean, co-founder of Divvy, shares what it felt like to sell his company for $2.5 billion—and why the real challenges began after the deal closed. This conversation will help you think more strategically about what you’re really building—and how to avoid the regrets that often follow a big payday.
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Ep 498 Inside the Mind of an Acquirer: Understanding the Buyer Who Pays 100% at Close
Built to Sell Radio
Most acquirers want you to stick around. Roll equity. Hit targets. Train your replacement. But there’s a different kind of buyer out there. One who wires 100% of the money at closing—and lets you walk. Dan Mytels represents this type of buyer. Through his firm, Salt Creek, he’s acquired 100 businesses—most of them mature, profitable, niche companies where the owner was ready to move on. They don’t always offer the highest multiple, but they do offer something many founders value more: a clean break.
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Ep 497 Exit Story: How $1M in Profit Changed Doug Lowenthal’s Life Forever
Built to Sell Radio
When Doug Lowenthal discovered that $1 million in EBITDA was the minimum threshold acquirers looked for in his industry, he had a goal. Then he learned that managed service providers—businesses that offer outsourced IT support—were trading for 6–8× EBITDA. That’s when he realized he was building something truly valuable. But getting there required more than just strong financials. Doug had to rethink how he led his team, structured his business, and prepared for life after the deal.
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Ep 496 After the Deal: CK on Selling for $510M, Taking a Sabbatical, and Redefining Success
Built to Sell Radio
Chang Kim—friends call him CK—sold his company Tapas for more than $500 million and walked away without an earn-out. Instead of jumping into his next venture, he did something few founders have the nerve to do: he took a year off. In this episode of Built to Sell Radio, CK opens up about what life looks like when work becomes a choice, not a requirement. From cross-continental travel to difficult conversations with his kids about wealth, this is a rare, candid look at what happens after the wire hits.
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Ep 495 Inside the Mind of an Acquirer: Brent Beshore on the Private Equity Trap and Being Long-Term Greedy
Built to Sell Radio
Private equity firms are the most likely buyers for your business—and some do a fine job preserving what makes a company great. But many are financial engineers. They offer a generous multiple, then lever up the business, cut costs, and flip it within a few years. Longtime employees get let go. Culture erodes. You walk away with a check, but it can feel like selling out.
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Ep 494 Exit Story: Building News Sets for TV Stars—and a Business Worth Millions
Built to Sell Radio
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Ep 493 Exit Story: Selling a 20-Person Agency for 5.5x EBITDA
Built to Sell Radio
Most stories we cover involve eye-popping multiples or headline-making exits. They’re fun—but not always realistic. Jeff DeGarmo’s story is different. No private equity windfall. No tech hockey stick. Just a well-run, 20-person service business built over 16 years and sold for a solid 5.5x EBITDA.
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Ep 492 Mastering the Deal: How Greg Alexander Got $162M for a 30-Person Firm—and What He’s Learned from Watching 50 Other Exits Up Close
Built to Sell Radio
Greg Alexander sold SBI, his 30-person consulting firm, for $162 million. Since then, he’s had a front-row seat to 50 other service firm exits through his peer group, Collective 54. In this episode of Built to Sell Radio, Greg breaks down what separates firms that sell from those that stall. This is a Mastering the Deal episode of Built to Sell Radio—designed to help you punch above your weight in a negotiation to sell your business.
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Ep 491 Inside the Mind of an Acquirer: The Case for Unsexy
Built to Sell Radio
What makes someone want to buy an “unsexy” business? Jon Pole has acquired 19 traditional radio stations. On paper, it’s an industry many assume is in decline. But for an experienced buyer like Pole, these deals are less about media trends and more about community, cash flow, and culture.
info_outlineWhen Frank Shultz co-founded Infinite Blue, he and his partner split ownership 50/50. The business thrived, but their working relationship soured. Frank wanted to buy out his co-founder, but with a valuation in the eight figures, he faced a daunting question: where would he get the cash?