Every founder dreams of a big exit — but few know the exact numbers they need to feel safe, stay motivated, and negotiate from power.

In this clip, Anne Mahlum breaks down the precise financial milestones that gave her psychological safety during her journey from founder to eight-figure earner. She reveals why her first "safe number" was $6 million, how she later pulled $9 million more off the table, and the disciplined math behind her unwavering $100M personal exit target.

Anne explains how she evaluated dilution, equity projections, and future valuation before touching any deal — and why she refused to move forward without fully understanding the waterfall and her eventual payout. This is a masterclass in founder discipline, emotional clarity, and exit strategy.

Key Takeways:

The $6M Safety Number – Anne's first partial exit wasn't random. It was the figure that gave her personal safety, mental clarity, and the freedom to take bigger risks.

Why She Took Another $9M – Not for lifestyle. For long-term psychological security while still building aggressively.

The $100M Personal Target – A number she defined early, committed to fully, and never wavered from — regardless of market noise.

The Dilution Equation – Every time she sold shares, she recalculated: • future valuation • equity dilution • remaining share value • the waterfall • what she'd realistically walk away with

Zero Guesswork – Anne didn't negotiate on vibes. She negotiated on math.

No Deal Without the Waterfall – She refused to sign anything unless she clearly understood what each scenario meant for her eventual payout.

MEET ANNE MAHLUM

Anne Mahlum is the founder and former CEO of Solidcore, a boutique fitness brand with 100+ locations, and the founder of Back on My Feet, a nonprofit helping people experiencing homelessness rebuild their lives through running. She turned her last $175,000 into a $90M payday and has built a personal net worth exceeding $100M. Recognized by CNN and ABC World News, Anne is a serial entrepreneur and advisor to founders navigating high-stakes growth and exits.

Episode Timestamps

0:00 — Anne's First "Safety Number" Revealed 0:14 — Why She Took $6M, Then $9M 0:24 — The Real Math Behind Her Exit 0:33 — How Dilution Affected Each Decision 0:51 — The $100M Personal Goal 1:02 — Why She Never Wavered From That Number 1:05 — The Waterfall: Her Non-Negotiable Requirement

Connect with Anne Mahlum:

LinkedIn: linkedin.com/in/anne-mahlum/

Website: https://www.annemahlum.com/

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Host: Brendan McGurgan Website: https://www.simplescaling.com LinkedIn: https://www.linkedin.com/in/brendanmcgurgan