The Exit Whisperer

Carrie Kerpen interviews Christine Merser, an experienced entrepreneur who shares her journey with Blue Shoe Strategy and what it took to sell her business with both triumphant successes and challenging failures.

 

Christine reflects on her negotiation of a company sale for double the valuation amidst a room of skeptical men, the early days of the internet and managing forums in 1993, and her pivotal role in launching Obama's digital campaign.

 

The conversation delves into her ventures during the dot-com era, an early luxury goods online marketplace, and lessons learned from its subsequent downfall. Merser also recounts a later venture with a party rental business, navigating an exit, and imparting wisdom on managing company board dynamics and valuations.

 

  

1:00 Inside Christine’s Company Sale and Negotiation  

2:14 Lessons from the Early Internet Era  

5:30 How AI Mirrors the Early Internet Boom  

6:40 Launching Luxury Goods Online Before It Was Common  

8:01 Why a Strong Board of Directors Matters  

9:10 Early Challenges of Selling Products Online  

10:11 A Boardroom Battle Over Spending Decisions  

13:28 Why Financial Detail Can Make or Break You  

15:02 Never Give Up Your Point of View  

16:05 Learning Fast and Moving Forward  

18:20 How to Pitch Your Business for Acquisition  

20:30 Biggest Lessons from the Acquisition Journey  

22:02 Track Your Numbers — No One Else Will  

23:08 How to Know if a Company Is the Right Fit After the Sale  

24:44 Moving On and Building Blue Two Media

Michelle Jacobik, a successful entrepreneur who transitioned from employee to business owner. Michelle shares her journey of buying out her employer, expanding the business, and ultimately selling it at a high valuation. With a focus on maximizing business profits and protection for business owners, Michelle's story is filled with challenges and triumphs.

 

She emphasizes the importance of planning, vision, and financial awareness, offering insights into partnerships, transitions, and life after exit.

 

Michelle's journey illustrates the power of persistence, learning, and smart financial management. This episode is a treasure trove of advice for aspiring and established entrepreneurs alike.

 

0:20 Michelle’s Story

2:14 How She Transitioned from Employee to Entrepreneur  

6:05 Smart Planning Before Taking the Leap  

8:06 Pushing Through Major Financial Roadblocks  

10:00 Getting Banks to Say Yes: Approvals & Loans  

11:41 Closing a Huge Deal Before Age 30  

15:02 Preparing for a Partner Exit the Right Way  

16:39 Putting Personal Financial Stability First  

19:10 Why Regular Business Checkups Matter  

22:15 Sell for Profit, Not Potential  

25:04 How a Life Coach Transformed Her Growth  

28:22 Finding Your Identity Beyond Your Career  

30:10 A Clear Guide to Lifestyle Redesign  

34:00 How to Choose the Right Business Partner  

35:42 Why You Need Separate Business Plans  

39:01 The Power of Individual Business Planning  

40:51 Invitation to the InVision Event  

 

Richelle Pena shares her inspiring journey of building and selling American Pediatric Dental Group alongside her husband, Will.

 

Starting from a single dental office funded by bootstrapping their savings, they expanded to seven locations by focusing on strategic marketing and community engagement.

 

Richelle discusses the importance of ignoring competition noise, leveraging relationships, and understanding market needs. She also shares the thought process behind selling their business to Dentistry for Children, a Dental Service Organization (DSO), while retaining ownership of the real estate for future passive income.

 

Richelle's story highlights the vital balance of family, faith, and business priorities, and she teases her upcoming book on being a 'Power Couple' in entrepreneurship. 

 

 

1:10 Building a Dental Practice with Her Husband  

5:00 Bootstrapping the Business and Taking Big Risks  

7:36 Designing and Building Out Their Office Space  

10:50 Standing Out with Flexible Hours  

15:02 Making an Impact in Children’s Lives  

18:00 Priorities: God, Family, and Business  

20:02 Understanding Dental Service Organizations (DSOs)  

22:44 How Dental Practices Are Valued  

25:01 Why Renting After Selling Can Be a Smart Move  

27:11 Advice for Couples Working Together  

29:52 Transitioning from Business Mode to Personal Life  

32:00 Launching a New Business Together  

35:28 Key Insights from a Book on Partnerships  

In this episode, Kat Hantas, co-founder of 21 Seeds, shares the journey of building her female-focused infused tequila brand.

 

Kat discusses how a personal need for a low-calorie, less harsh alcoholic option led to the creation of 21 Seeds with the unique market insight that propelled the brand to success: women drink tequila differently.

 

Kat recounts the challenges and strategies behind scaling the business quickly, the importance of understanding your core consumer, and the strategic decisions leading to their nine-figure sale to Diageo.

 

Kat also touches on the emotional aspects of entrepreneurship, including the responsibilities of managing friends and family investments and adjusting to life post-acquisition.

 

 

00:29 Introducing Kat Hantas of 21 Seeds

02:05 The Birth of 21 Seeds Tequila

03:53 From Personal Solution to Business Idea

06:45 Launching and Scaling 21 Seeds

09:25 Marketing Strategies and Consumer Focus

20:57 The Decision to Sell and Finding the Right Buyer

33:30 Life After the Sale

36:48 Reflections on Money and Success

Lindsay Pinchuk shares the incredible journey of launching and scaling Bump Club, a thriving community for expectant mothers that she bootstrapped with her background in media sales.

 

She dives into the nuances of negotiating her company's sale, including achieving double the valuation and confronting the challenges of an earn-out gone wrong.

 

Lindsay candidly discusses the emotional and practical hurdles she faced post-sale, from retaining her brand's integrity to ultimately advocating for her team's well-being.

 

Now thriving as a consultant and mentor for female founders, Lindsay imparts valuable lessons on entrepreneurship, resilience, and finding one's true calling.

 

 

00:28 Introducing Lindsey Pinchuk and The Bump Club

01:31 The Birth of The Bump Club: From Idea to Reality

02:36 Growing the Community: Early Events and Challenges

07:44 Scaling Up: Expanding Beyond Chicago

11:53 Partnerships with Major Retailers: Target and Nordstrom

16:55 The Road to Acquisition: Interest from Brand Connections

19:59 The Acquire Proposal

21:19 Valuation and Deal Structure

23:41 Team Reactions and Negotiations

25:40 Challenges with Earnouts

28:46 Realizing Misalignment

32:02 Planning the Exit

33:27 Final Negotiations and Departure

36:30 New Beginnings and Current Ventures

Season 2 is HERE!!

 

In this riveting episode of 'The Exit Whisperer,' we dive deep into the world of business and entrepreneurship with Sharon Gillenwater, a TikTok sensation known for her transparent exit from Boardroom Insiders, a company she sold for $25 million.

 

Sharon shares her journey negotiating with a room full of men, achieving double her company's valuation, and the trials and triumphs of exiting a bootstrap business.

 

Sharon's insight into gender dynamics in business, the importance of financial transparency, and her mission to demystify entrepreneurial exits make this a must-listen episode.

 

Learn about her perseverance, practical wisdom, transformative success in business and entrepreneurship that helped her sell her business.

 

 

00:28 Welcome to Season Two of The Exit Whisperer

00:50 Meet Sharon Gillenwater: The Founder of Boardroom Insiders

03:10 Sharon’s Journey: From Funded to Bootstrapped

06:16 The Rise of Boardroom Insiders

06:33 Navigating the Tech Marketing World

10:22 Building a Sellable Asset

13:06 The Decision to Sell: Timing and Strategy

19:58 The Acquisition Process: Finding the Right Partner

26:05 Team Continuity Post-Sale

26:16 Deciding to Stay or Leave

27:59 Financial Transparency and Viral TikTok

32:30 Navigating Gender Dynamics in Business

40:27 Books and Future Plans

In this episode, Carrie welcomes Kat Weaver, a young and fearless entrepreneur, as she shares her incredible journey from founding Locker Lifestyle in her college dorm room to successfully selling it and becoming a pitch expert.

 

Kat candidly discusses the highs and lows of being a startup founder, the challenges of scaling her business, and the emotional rollercoaster of selling her company.

 

She also provides valuable insights into pitching for grants and funding, drawing from her own impressive record of winning 22 out of 23 pitch competitions!

 

Here's what you can expect: 

 

00:58 Kat's College Dorm story

03:49 Challenges and Growth

05:59 Pitching for Survival

11:40 Scaling and The Decision to Sell

15:18 Transition to Coaching

25:10 Current Ventures and Offerings

27:17 Final Reflections and Lessons

Join us as we dive into the incredible entrepreneurial journey of Melissa Rogne, who turned a single-location med spa in Fargo, North Dakota into a thriving business with 22 locations in partnership with the Aspen Group.

 

Melissa shares how she started without any intention of becoming an entrepreneur, her struggles and triumphs, and the power of a positive culture.

 

She reveals the pivotal moment at a conference that changed her business trajectory and discusses the importance of confidence, persistence, and a mindset of abundance.

 

Tune in to be inspired by Melissa’s story and her advice for aspiring entrepreneurs:

 

00:33 Meet Melissa Rogne: From Fargo to Fortune

01:56 Starting Small: The Birth of Rejuve

03:49 Building a Positive Culture: The Key to Growth

05:53 Overcoming Challenges: Financial Literacy and Confidence

08:54 The Power of Referrals: Growing Through Word of Mouth

12:08 Turning Point: Meeting the Aspen Group

18:45 The Aspen Partnership: Scaling New Heights

22:26 Reflecting on the Journey: Advice for Aspiring Entrepreneurs

24:26 Final Thoughts: Embracing Persistence and Abundance

Stephanie Cartin and Courtney Spritzer, the co-founders of SocialFly and Entreprenista, share countless stories about their entrepreneurial journey.

 

They discuss the pivotal moments that shaped their success, the challenges of managing a startup, and their strategic approach to scaling and eventually selling their social media agency.

 

Carrie, Stephanie and Courtney have known each other for years! And now reflect on the importance of mentorship, community, and remaining adaptable in the face of unforeseen challenges like the pandemic.

 

The episode also highlights their new venture, Entreprenista, an empowering community for female entrepreneurs. Here's what you can expect:

 

00:29 A Pivotal Moment: Meeting Future Competitors

02:48 The Story Behind SocialFly

04:06 Early Challenges and Successes

06:23 Partnership Dynamics: Working Together

11:33 Mentorship and Networking: The Power of Connections

14:44 Planning for the Future: Built to Sell

16:43 Entreprenista and Beyond

25:02 Navigating the Sale: Challenges and Emotions

33:53 Life After the Sale: Reflections and New Beginnings