The Exit Whisperer

Carrie interviews Courtney Gould Miller, who successfully sold her family's marketing agency for a double-digit multiple. Courtney shares insights from her journey, which includes joining her family's business, implementing digital marketing strategies, and ultimately negotiating an impressive exit to private equity.

 

Courtney also discusses the impact of family business dynamics, the grief of letting go, and her experience transitioning into a leadership role within the acquiring company.

 

The conversation sheds light on valuing hidden assets, the pitfalls of earnouts, the emotional journey post-sale, and her passion for helping other family businesses thrive through her new podcast, Family Business Secrets.

 

 

1:18 Meet Courtney Gould Miller: A True Family Business Insider  

4:30 What It’s Really Like Growing Up in a Family Business  

7:30 How Litigation Skills Give Entrepreneurs an Edge  

9:22 Coming Home: Returning to the Family Business  

14:30 When Acquisition Enters the Conversation  

17:03 How She Secured a Double-Digit Exit Multiple  

20:51 Why Former Owners Are Key to Smooth Leadership Transitions  

23:14 The Hidden Dangers of Earnouts in Business Deals  

25:11 Reinventing Yourself After Selling the Business  

27:10 The Emotional Grief No One Warns You About  

29:45 Solving Tough Client and Cash Flow Problems  

32:29 Why Legacy Should Shape Your Entrepreneurial Journey  

35:30 Launching the *Family Business Secrets* Podcast

I was recently a guest on the Worthy for Thirty podcast with Eric Tash! We talked about my journey as an entrepreneur, how I'm helping other women entrepreneurs successfully sell their businesses, and how I'm trying to make a real difference in the world. 

 

I want to share one of Eric's conversations with Elissa Kalver, Founder & CEO, WeGotThis.org.  WeGotThis.org is the first non-profit gift registry for cancer patients and their loved ones. Elissa's story is a fascinating exploration of strength, resilience, and the power of community. Elissa founded WeGotThis.org after her own diagnosis with stage IV metastatic breast cancer close to four years ago. She asked herself, 'how can I help anyone going through a similar journey?'  Since its founding, WeGotThis.org has bootstrapped and raised $1MM for its mission. I suggest listening to this episode to learn how she's building a platform to support cancer thrivers and their loved ones while learning how you can make a difference in other people's lives too.

 

Link to the full episode:https://open.spotify.com/episode/3LDPgLNcI7kbUbxZYMYhtY?si=TOiq0MneR0KwP_6wkXo0FQ

In this episode, we dive into the story of Sam, an entrepreneur who successfully bootstrapped her kitchen product business from a simple broken spatula idea to a remarkable sellable company (including inventing the first silicone spatula).

 

Sam shares her journey, including the challenges of scaling, the significant milestones achieved through Kickstarter and wholesale channels, and the strategic decisions that led to exponential growth. She also discusses the emotional and practical aspects of selling her business and offers valuable insights for bootstrapped founders considering an exit.

 

Learn how she navigated identity shifts post-sale and the importance of taking a break before venturing into new projects.

 

  

1:00 Negotiating the Biggest Deal of Her Life  

3:00 Inventing the One-Piece Silicone Spatula  

5:47 Launching a Kickstarter That Changed Everything  

7:30 How the Rainbow Spatula Became a Hit  

9:40 Building a Strong Wholesale Foundation  

11:37 The Hard Lessons Behind the Coffee Grinder  

14:01 Launching Silicone Straws Amid Regulations  

15:48 Pivoting to Masks During COVID-19  

17:38 Why Every Founder Needs an Exit Plan  

19:52 The Founder’s Role in Scaling a Business  

22:06 Balancing Passion With Real Business Outcomes  

24:54 Aligning Your Business Strategy With Legal Realities  

27:40 Translating Legal Contracts Into Clear Business Language  

29:40 Smart Valuation Strategies During Acquisition  

32:51 The Power of Constant New Product Introductions  

34:29 The Personal Toll of a Public Persona  

37:01 Why Founders Must Take Breaks  

39:15 Learning New Tools to Prepare for the Future

Emily Mueller shares her inspiring journey of founding and scaling Wellory, a company she started from personal health challenges.

 

Emily discusses how her entrepreneurial background and sales expertise helped her raise significant VC funds and ultimately led to Wellory's acquisition.

 

She highlights the strategic decisions behind selling the company, the impact of emerging prescription drugs on her business model, and the importance of deal-closing skills in entrepreneurship. Emily also touches on her post-exit life, including her advisory role at The Whisper Group.

 

1:10 Emily’s Path to Launching Wellery  

4:27 Why Sales Experience Is Crucial for Every CEO  

6:32 The Power and Importance of Closing Deals  

8:20 Choosing to Build a Venture-Backed Business  

10:11 How the First Investment Opened New Doors  

12:49 Evolving the Business Model Through Health Insurance  

16:03 How Dietitians Fit Into the GLP-1 Ecosystem  

19:18 Timing and Decision-Making for an Effective Exit Strategy  

20:55 Closing the Chapter on Their Founding Story  

24:27 Hustling to Find the Right Potential Acquirers  

26:58 Celebrating the Sale of the Company  

29:11 Building Unshakable Confidence as a Founder  

31:32 Launching Bolen Advisors After the Exit

Carrie Kerpen interviews Bea Dixon, the founder of The Honey Pot, a feminine care company. Bea shares the inspiring story of how she received the idea for her business in a dream and transformed it into a thriving company that sold to Compass Diversified Holdings for over $380 million.

 

The conversation covers Bea's challenges and successes, her commitment to her company post-sale, and the unique experiences she faced as a black founder in the industry.

 

Bea also emphasizes the importance of responsible business management and the joy found throughout the entrepreneurial journey.

 

1:14 How Bea Sold The Honey Pot  

3:10 The Real Inspiration Behind The Honey Pot  

6:24 A Look Back at Old Vaginal Care Practices  

8:01 The Moment She Knew the Product Actually Worked  

10:15 Deciding to Share the Formula With the World  

12:18 Bringing Her Brother In as a Key Partner  

13:49 Launching The Honey Pot at Bronner Brothers  

16:34 Expanding the Product Line Based on Customer Demand  

18:36 Relationship-Building as the Foundation of Success  

22:01 The Hard Realities of Fundraising for Growth  

25:03 Her First Experience With Institutional Investors  

27:02 Knowing the Right Time to Sell  

30:14 The Responsibility That Comes With Managing Investments  

32:34 How She Chose the Right Acquirer  

34:41 Staying Committed to Ethical Business Practices  

37:26 Why Transition Periods Matter After a Sale  

39:14 Higher Standards for Black Founders and Women Leaders  

41:14 Why Founders Must Invest in Themselves Too

Carrie interviews Jaclyn Johnson, founder of Create and Cultivate. Jaclyn's journey from selling her first business, No Subject, to creating and eventually buying back Create and Cultivate is an excellence tale. Jaclyn shares insights on entrepreneurship, mindset, and navigating business partnerships. This episode provides valuable lessons for women in business, focusing on building, scaling, and selling a business.

 

 

1:00 Jaclyn Johnson Joins the Conversation  

3:00 How She Launched Her First Company, No Subject  

5:40 Inside the Early Days of Influencer Marketing  

8:01 Why She Sold Her Agency to Small Girls PR  

10:31 The Moment She Created Create & Cultivate  

12:13 The Origin Story of Create & Cultivate  

14:23 Making the Influencer World Accessible to Everyone  

16:57 When a Major Deal Fell Apart Overnight  

18:49 Hard Lessons from a Failed Business Deal  

20:49 Why She’s Still Happy With the Outcome  

22:49 Bringing in a New CEO to Scale the Company  

25:27 The Rare Deal That Let Her Take Back Ownership  

27:24 How Founders Can Strategically Buy Back Their Companies  

29:01 Choosing Future Potential Over Fast Cash  

30:40 What’s Coming Next for Create & Cultivate  

33:40 Money Lessons from Growing Up with a Savvy Mom

Maggie Lord, founder of Rustic Wedding Chic, highlights her incredible entrepreneurial journey. Maggie shares how she transitioned from being a teacher to starting and scaling a successful digital media business without prior business experience.

 

Learn about her strategies for building and monetizing her company, navigating the decision to sell to David's Bridal during COVID-19, and her shift to a corporate role post-acquisition. Maggie also discusses her current focus on mentoring female entrepreneurs, offering insights on strategic partnerships, business valuation, and the importance of mindset.

 

This episode is packed with valuable advice for women in business, from entrepreneurship and scaling a business to selling it effectively.

 

1:20 Introducing Maggie Lord’s Entrepreneurial Journey  

2:04 Starting Rustic Wedding Chic in 2008  

5:35 Funding the Early Growth of the Company  

6:36 Shifting to Monetization Through Brand Partnerships  

7:20 Launching the Vendor Directory  

8:43 Licensing the Brand to Scale Even Further  

12:52 Sealing the Deal by Emailing the CEO  

14:23 Positioning the Business Beyond Personal Branding  

18:04 Joining the Leadership Team at David’s  

19:12 Growing as an Entrepreneur Inside David’s  

20:34 Navigating the Business Through COVID-19  

22:14 Returning to Entrepreneurship  

23:50 Empowering and Supporting Female Founders

Carrie interviews Nathalie Walton, who shares her journey of transforming Expectful, a meditation app for expectant mothers, into a comprehensive wellness platform.

 

Nathalie discusses her transition from a stable role at Airbnb to co-founding Expectful, raising seed funding within 90 days, and the importance of a structured approach to fundraising.

 

She candidly addresses challenges in a male-dominated space, the mental health toll on entrepreneurs, and balancing time management with venture capital pressures. Nathalie reflects on the emotional journey of scaling and selling the business in just 28 months, emphasizing self-care, personal boundaries, and the support system required in entrepreneurship.

 

This inspiring conversation offers valuable insights and practical advice for women in business, entrepreneurs, and those interested in mindset, building, scaling, and selling a business.

 

02:22 Nathalie's Journey to Expectful

04:14 Taking the Leap: Joining Expectful

05:58 First 90 Days: Rapid Growth and Fundraising

09:23 Building Expectful: Vision and Expansion

11:01 Challenges and Realizations

13:59 Market Realities and Mental Health Toll

15:57 Facing Investor Pressure

16:29 Reflecting on Bootstrapping

17:41 Exploring Strategic Sales

19:43 The Role of a Banker

21:09 Mental Health and Personal Growth

26:19 Closing the Deal

27:53 Life After the Sale

29:59 Final Thoughts and Contact Information

In this episode of 'The Exit Whisperer,' host Carrie Kerpen interviews entrepreneur Sharon Lee Thony about her inspiring journey from a corporate job to founding and scaling SLT Consulting, which she eventually sold to Fiverr.

 

Sharon shares practical steps for transitioning from a side hustle to a thriving agency, challenges in balancing family obligations, and the significance of building a supportive network of freelancers.

 

The discussion includes insights on mindset shifts, strategic decisions, and maintaining company vision post-acquisition. Key topics cover entrepreneurship, women in business, digital marketing, and strategies for building, scaling, and selling a business.

 

Sharon also reflects on her role in launching Fiverr Agencies and her future plans as an advisor and angel investor.

 

 

1:14 Sharon’s Journey to Selling Her Agency to Fiverr  

4:53 Leaving Corporate Life for Freelancing  

6:45 A Consultant’s Perspective on the Freelance Shift  

9:32 Planning Freelance Income vs. Full-Time Pay  

11:05 Moving from Freelancer to Business Owner  

13:00 Building a Collective of Expert Freelancers  

15:15 Using Teaching as a Client Attraction Strategy  

18:50 Fiverr as a Sandbox for Business Growth  

21:39 How COVID Transformed Digital Marketing  

24:00 What’s Ahead for Fiverr’s Future  

25:43 The Rise of Agency Owners Looking to Sell  

27:20 Why So Few Women Exit Their Businesses  

30:34 Keeping Autonomy After Being Acquired  

32:05 Extracting Value the Right Way at Fiverr  

34:00 Creating Jobs and Opportunities Through Business  

36:20 Sharing Knowledge After an Acquisition