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 a business owner thinking about the next chapter? Too many entrepreneurs focus entirely on building their company but fail to prepare themselves, and their finances, for the exit. In this episode, Steve sits down with Tim Golas, Partner and Co-Founder at Spurstone, to discuss the tactical realities of selling a business. From the dangers of concentration risk to the "Fish and Chip" method of negotiation, Tim breaks down how to run two parallel paths: optimizing the business for sale and preparing your personal wealth for the liquidity event. Whether you are looking to sell in 2026 or just want to de-risk your current operations, this episode provides a roadmap for maximizing your deal terms and protecting your legacy. -- Timothy Golas is an exit planning advisor, fiduciary, and Partner at Spurstone who serves as a trusted confidant to eight- and nine-figure business owners navigating major financial transitions. A founder himself, he understands the pressure and complexity of building a business and the risks of exiting without the right strategy or support. With more than 20 years of experience advising successful families, executives, and stakeholders across the U.S., Timothy helps founders and multi-owner teams protect what they’ve built, maximize value, and move forward with clarity and confidence. As a Certified Exit Planning Advisor (CEPA), he specializes in value acceleration, tax-efficient exits, and guiding entrepreneurs through Spurstone’s Grind to Good Life framework, from exit preparation to post-exit fulfillment, bringing both expertise and empathy to a deeply personal transition. Website - https://www.spurstone.com/ LinkedIn - https://www.linkedin.com/in/timothygolas/ Timestamps: (00:22) From Wall Street to Main Street: Tim shares his background at UBS during the financial collapse and why he founded Spurstone to better serve entrepreneurs and business owners. [02:00) The 2-3 Year Window: Why you need to start planning years before the sale. The concept of "Parallel Paths" - preparing the business entity and the personal financials simultaneously. (04:12) Combating Concentration Risk: How to identify if your business is too reliant on one client. Tactical Tip: Tim discusses the strategy of acquiring smaller companies to dilute client concentration before going to market. (08:12) When is the Right Time to Sell?: Navigating age, market conditions, and avoiding "forced" exits (Death, Disability, Divorce). (13:54) Maximizing Valuation: Moving beyond the top-line number. Understanding the difference between EBITDA and Normalized EBITDA, and why "de-risking" (e.g., settling litigation, owning real estate) drives multiples higher. (15:32) The Biggest Mistake Sellers Make: Why you should never wait for an LOI (Letter of Intent) to land on your desk before you start planning. (19:30) The "Fish and Chip" Method: A warning on how buyers use high valuations to hook sellers, only to chip away at the price during due diligence. (21:14) M&A Trends for 2026: What’s happening with Baby Boomers, the trades, and manufacturing sectors. The rise of Private Equity roll-ups. -- 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 trying to grow your business by 10% year over year? You might be leaving massive wealth on the table. In this episode, we sit down with Tom Shipley, a former Special Forces operator turned serial entrepreneur and aggressive investor. Tom challenges the traditional startup narrative with a shocking reality: Growing organically might increase your value by 50% over five years, but buying competitors can increase it by 1,200%. Tom shares his incredible journey from the dot-com bust, where he was days away from missing payroll, to buying a $15M division of Boise Cascade without using his own capital. We unpack the "Programmatic M&A" playbook, how to use acquisitions to solve operational weaknesses, and why the best path to a massive exit is often buying your way there. -- Tom Shipley is a serial entrepreneur and M&A strategist known for creating the “Add a Zero” growth philosophy, which helps founders rapidly scale their businesses through strategic acquisitions. From his early career as an IDF special forces operator to building and advising brands that have generated more than $2 billion in revenue, Tom brings a rare combination of disciplined execution and bold dealmaking. A pioneer of programmatic M&A for mid-market companies, he has raised over $100 million, led multiple acquisition platforms, and now teaches 7 to 9 figure founders how to accelerate growth, close capability gaps, and engineer premium exits through smart, repeatable deals. Websites - https://www.tshipley.com/ - https://dealconlive.com/ LinkedIn - https://www.linkedin.com/in/t-shipley/ Time Stamps: 00:00 - Intro 02:47 - Buying a division of a Fortune 500 company without cash 05:05 - Scaling a beauty brand from $30k to $100M+ via acquisition 08:09 - How Mezzanine debt works (and why it’s better than pure equity) 12:51 - The Golden Stat: 50% vs. 1,200% Enterprise Value growth 17:58 - The thought exercise that will force you to raise your prices today 20:41 - The biggest mistakes entrepreneurs make when selling 24:14 - Why "Day One" after closing is the most dangerous time 27:31 - What is Programmatic M&A? -- 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 -- A quick note on audio: We experienced some technical gremlins with the microphones during this recording. While the sound quality isn't perfect, the quality of the information is 10/10. Is your business sitting on digital gold, or did you buy a liability? In this episode, we sit down with Jeffrey Gabriel, the founder of Saw.com and the man who broke the Guinness World Record for the largest domain sale in history, brokering the sale of a domain for $13 million. Jeff takes us behind the scenes of the high-stakes world of "online real estate." Whether you are a bootstrapper looking for a creative way to secure a premium .com, or an investor looking to understand the wild valuation swings between .net, .ai, and .io, this episode is a masterclass in digital assets. We dive deep into how to value a name, how to negotiate deal structures that require $0 down, and why the "Chinese Chip" market and AI trends are reshaping the internet. In this episode, you’ll learn: The $13M Deal: The true story behind the complex bankruptcy sale. Valuation Framework: The specific metrics Jeff uses to determine if a domain is worth $5,000 or $500,000 (Length, CPC, and Universality). Creative Financing: How to acquire a six-figure domain name using "Earnest Money" and lease-to-own structures, perfect for cash-strapped startups. The TLD Debate: Why .net is the "New Balance" of domains, and when you should actually buy a .ai or .io. Market Trends: From the "Chinese Chip" market to the Crypto crash and the current AI boom. Timestamps: (02:36) From selling loans to selling the internet: Jeff’s entry into the domain space. (11:49) Breaking the World Record: The logistics of selling [suspicious link removed] for $13 Million. (15:32) Business Strategy: Should you buy the .com, .net, or .ai? (20:50) The Friend.com case study: Spending $2M on a domain for viral marketing. (23:51) The Valuation Formula: How to calculate the worth of a URL. (30:29) Deal Structuring: How to use options and milestones to buy domains without full capital upfront. (37:34) The history of domain trends: From Ringtones to Chinese "Chips" to AI. -- Jeffrey M. Gabriel, founder and CEO of Saw.com, is a domain industry veteran with over 15 years of experience and over $550 million in completed transactions. Known for high-profile deals like the Guinness World Record-breaking sale of Sex.com for $13 million, the top .ORG sale of Poker.org for $1 million, and the recent sales of Diamond.com, AI.com, Media.com, Data.ai and countless others. Jeffrey and his team have a reputation for delivering exceptional value to clients. Previously, he held key roles at Uniregistry, Igloo.com, and Sedo. An active industry expert, Jeffrey has contributed to Forbes and is a member of the Internet Commerce Association, frequently sharing insights on domain acquisition, sales, and strategy. Website - https://saw.com/ LinkedIn - https://www.linkedin.com/in/jeffreymgabriel/ -- 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/