They Got Acquired

CFO Lauren Colson tells us how founders can clean up their financials so buyers trust the numbers. Plus, our new course, The Exit Playbook, is live!

Many founders think their books are in good shape — until a buyer starts asking questions.

In this interview episode, you’ll learn:

• How buyers evaluate financials during diligence
• Common bookkeeping mistakes that raise red flags
• How to clean up financials without an accounting background
• Why accrual accounting is often required for a sale
• When to start preparing for an exit

Plus, for $200 OFF our new course, The Exit Playbook, use discount code TGAPODCAST at checkout.

Resources:

• The Exit Playbook: Built Smart Now & Sell For More Later
• Lauren's firm, Colson Strategies
• Full transcript of this episode
• Our free newsletter

We’ve interviewed nearly 300 founders, and the same challenge keeps surfacing as the most demanding part of selling a business. Here’s what they wish they’d known sooner.

What you’ll learn:

• What buyers really look for once the LOI is signed
• Why this phase can unexpectedly impact revenue
• How founders can delegate and prepare before entering this stage
• Steps sellers take to make the process smoother and faster

Full transcript | Our newsletter

Two days before closing the sale of her business, a founder called me in a panic. She wasn’t sure if she should take the deal — or walk away.

Here's what I shared with her:
• How to compare a “low” multiple with unusually strong deal terms
• Why all-cash offers are rare — especially for agencies
• When running a full process can increase price
• Why overthinking can cause founders to miss great deals
• How life goals influence the “right” financial outcome

Full transcript | Our newsletter

Improving your business for an eventual sale doesn’t just affect your future valuation — it also makes your business easier to run right now. 

In this episode, we share a story about a founder who set out to make her company more appealing to buyers — and ended up enjoying her business more than ever. By delegating key responsibilities, trimming unnecessary expenses, and increasing profit, she expected to improve her sale multiple. What she didn’t expect was how much better her day-to-day life would become.

What you'll learn:

• Why reducing founder dependency improves both valuation and quality of life

• How profit improvements can multiply your sale price

• Why growth is the only real exception to the Double-Win Rule

• The mindset shift that helps founders benefit from exit prep long before selling

Full transcript | Our newsletter

Most founders underestimate this single metric — and it can dramatically change your exit. Understand this now, and it can be a powerful lever when you go to sell.

What you’ll learn:
• The surprising variable buyers care about most
• Why two identical businesses can get wildly different offers
• The counterintuitive timing mistake founders often make
• How your growth curve influences your valuation
• The one exception to “improvements always benefit you now and later”

Transcript | Our newsletter

Host Lexi Grant reflects on a conversation with two co-founders who were well positioned for a sale. 

Their business hit every mark that buyers look for — from profitability to growth — and Lexi shares exactly what made them stand out.

Whether you’re thinking about selling soon or just want to build a stronger business, these four factors can help you increase value and create more options for your exit.

What you'll learn:

• Why EBITDA matters more than revenue when you sell
• How to build recurring revenue — even if you run an agency
• What a “low founder dependency” business really looks like
• How growth trajectory influences your sale multiple

Transcript | Our newsletter

What happens when a buyer emails you out of the blue? Not all offers are what they seem. 

Learn how to spot legit interest, protect your time, and maximize your leverage when inbound offers roll in.

What you’ll learn:

• The two types of buyer outreach—and how to tell them apart
• What to do (and not do) when you’re not ready to sell
• How to turn real inbound interest into an amazing deal
• Why running a “full process” can boost your sale price
• When to bring in an advisor—or just a lawyer

Full Transcript | Join our Newsletter

It’s a question we hear all the time: “Is my business sellable?”

In most cases, the answer is yes. But there are a few factors that can make selling your company harder than it should be or even impossible.

In this episode of They Got Acquired, Lexi shares the four biggest reasons a company might be unsellable, and how to correct them before you’re ready to exit.

What you'll learn:

• Why profit matters more than revenue when it comes to selling
• How founder dependency limits your ability to exit
• What happens when your niche doesn’t attract buyers
• Why expectations around sale price often derail deals

Full Transcript | Join our Newsletter

How do you know when it’s the right time to sell your business? The answer might surprise you.

Lexi Grant breaks down the three real factors that determine when to sell — and why waiting for perfect market timing could actually cost you.

What you'll learn:

• The surprising truth about market timing, and why it’s overrated
• How burnout can quietly destroy your sale value
• How your business’s performance shapes its valuation and buyer interest
• Lessons from founders who sold too late — and what they’d do differently
• Why there’s never a perfect time to sell

Full Transcript | Join our Newsletter

They Got Acquired is back! In this new season, host Lexi Grant shares insider insights every founder should know before selling a business.

After years of studying M&A and publishing nearly 300 acquisition stories, Lexi breaks down what really works — and what doesn’t — when it comes to selling your company.

What you'll learn this season:

• How to start preparing your business for a future sale
• Common mistakes founders make — and how to avoid them
• What to expect when you decide it’s time to sell
• And lots more

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⏱️ Time Stamps:
00:00 – Welcome back to They Got Acquired
00:30 – Why we paused after Season 1
01:28 – What’s new in Season 2
01:50 – What founders will learn this season

For the full transcript: https://theygotacquired.com/podcast/season-2-trailer/