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In this episode of the Next Life Podcast, Gary Warick welcomes Paul Deshon, a successful entrepreneur who transitioned from being a machinist to building and selling a majority stake in his environmental business, Excel, to a private equity firm. The discussion covers the challenges and rewards of entrepreneurship, the importance of delegating control for growth, and the complex journey of selling a business. Paul shares invaluable insights on family support, the emotional and financial aspects of business exits, and the exciting yet uncertain next steps after selling a business. Tune in for essential advice on navigating business transitions and planning for the future.

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00:00 Introduction and Initial Advice for Business Owners

00:38 Welcome to the Next Life Podcast

01:03 Guest Introduction: Paul Deshon's Journey

02:21 Paul's Early Entrepreneurial Ventures

04:49 Challenges and Realizations in Business

08:11 The Evolution of Excel Environmental

14:58 Thoughts on Selling the Business

23:14 The Impact of COVID-19 on the Sale Process

28:37 The Complexity of Selling a Business

37:47 Reflecting on the Journey

38:42 Navigating Legal Challenges

39:51 The Reality of Long-Term Planning

41:52 Entrepreneurial Mindset

45:04 Choosing the Right Buyer

48:40 Understanding Deal Structures

54:07 Post-Sale Reflections

01:06:46 Advice for Future Entrepreneurs

01:08:06 Looking Ahead to Chapter Two

01:12:54 Final Thoughts and Takeaways