Want a quick estimate of how much your business is worth?

With our free valuation calculator, answer a few questions about your business, and you’ll get an immediate estimate of the value of your business.

You might be surprised by how much you can get for it: https://flippa.com/exit

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What makes a business truly ready to sell? In this episode of The Exit, host Steve McGarry sits down with Betsy Kauffman, founder and CEO of Cross Impact, to explore why building a strong leadership team may be one of the most important steps toward a successful exit. Betsy shares how founders can reduce their involvement in daily operations, develop leadership teams that buyers can trust, and prepare their businesses for acquisition long before a deal is on the table. They also discuss the importance of selling while a company is performing at its best and why waiting too long could mean leaving significant money behind.

Drawing from her experience advising leadership teams and pursuing acquisitions herself, Betsy reveals the costly mistakes that can derail a deal, including declining valuations, poor communication, and a lack of transparency between buyers and sellers. She and Steve discuss when to involve key executives in the sale process, how to navigate uncertainty when deals fall apart, and strategies for retaining top talent after an acquisition. Whether you're preparing to sell your business or looking to build a company that can thrive without you, this episode offers valuable insights into leadership, exit planning, and creating a business buyers want to acquire

Cross Impact Website: https://crossimpact.co/

Betsy’s LinkedIn: https://www.linkedin.com/in/betsykauffman/

Steve’s LinkedIn - https://www.linkedin.com/in/thestevemcgarry/


Timestamps (For Audio Only Episode, Not Video):
[00:00] Episode Preview
[03:12] Introduction to Betsy Kauffman and Her Background
[05:49] Building a Leadership Team for an Exit
[07:23] Leadership Teams and Business Valuation
[08:21] Preparing for an Exit Years in Advance
[09:41] Managing Founder Dependency and Key Person Risk
[10:52] Involving Key Executives in the Sale Process
[16:47] When Is the Best Time to Sell a Business?
[20:39] Common Mistakes That Can Derail a Business Sale
[24:53] Retaining Talent After an Acquisition
[26:35] Lessons Betsy Would Tell Her Younger Self


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The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth?

With our free valuation calculator, answer a few questions about your business, and you’ll get an immediate estimate of the value of your business.

You might be surprised by how much you can get for it: https://flippa.com/exit


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What does it take to build and sell multiple successful businesses in less than a year? In this episode of The Exit, host Steve McGarry sits down with serial entrepreneur Jeremy Schoemaker, also known as ShoeMoney, to discuss his journey from selling appliances at Sears to building multimillion-dollar internet businesses and successfully navigating multiple exits.

Jeremy shares how a $130,000 Google AdSense check helped launch his entrepreneurial career, how his advertising platform Auction Ads attracted acquisition interest from eBay just months after launching, and how he scaled another business to nearly $1 million in monthly revenue before selling it. He and Steve explore the importance of preparing a business for acquisition, prioritizing user growth over immediate profitability, identifying the right time to sell, and understanding what makes a company attractive to buyers. Jeremy also reveals why he once sold a business for potentially one-tenth of what a buyer was willing to pay, the costly lessons he learned from passion projects, and how he's applying his entrepreneurial playbook to artificial intelligence today.

Jeremy’s LinkedIn - https://www.linkedin.com/in/shoemoney/

ShoeMoney Website - https://shoemoney.com/

Jeremy’s Instagram - https://www.instagram.com/shoemoney4real/

Steve’s LinkedIn - https://www.linkedin.com/in/thestevemcgarry/


Key Chapters:
00:00 Episode Introduction
04:04 Jeremy Schoemaker's Background and Early Days
06:08 Building a Business and First Exits
09:57 Preparing Your Business for Sale
12:53 Timing the Exit and Personal Insights
16:59 Valuation Drivers and Strategic Assets
20:07 The PAR Program and Business Growth
22:56 Maximizing Business Value for Sale
27:19 Lessons from Mistakes and Passion Projects
31:18 Advice to Jeremy 10 Years Ago
34:01 Current Projects and Future Plans


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The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth?

With our free valuation calculator, answer a few questions about your business, and you’ll get an immediate estimate of the value of your business.

You might be surprised by how much you can get for it: https://flippa.com/exit

--
What makes a business truly valuable to a potential buyer, and how can owners avoid the costly mistakes that threaten a successful exit? In this episode of The Exit, host Steve McGarry sits down with Natalia Zacharin, Founder and CEO of Zacharin Consulting, to explore the financial strategies and operational decisions that can significantly impact a company's valuation. Natalia shares her journey from struggling as a single mother to building a rapidly growing accounting and fractional CFO firm, along with her firsthand experience helping business owners prepare for acquisitions and exits. From maintaining accurate financial records and understanding EBITDA to separating personal expenses and reducing founder dependency, she explains what buyers actually look for when evaluating a business.

Steve and Natalia also discuss why preparing for an exit should begin years before a sale, how to determine the right time to sell, and the common mistakes that can dramatically reduce a company's value. Natalia shares a striking example of similar businesses receiving vastly different valuation multiples due in part to the quality of their financial records, highlighting why proper bookkeeping and financial transparency are essential. They also explore the importance of building strong teams, documenting operational processes, eliminating unnecessary expenses, and creating a business that can thrive without its founder. Whether you're preparing to sell your company or simply looking to build a more profitable and sustainable business, this conversation offers practical insights into maximizing long-term value and positioning yourself for a successful exit.

Natalia’s LinkedIn - https://www.linkedin.com/in/growyourbottomline/

Zacharin Consulting Website - https://zacharinconsulting.com/theexit/

Zacharin Consulting Instagram - https://www.instagram.com/growyourbottomline/

Steve’s LinkedIn - https://www.linkedin.com/in/thestevemcgarry/


Key Chapters:
00:00 Episode Introduction
01:06 Meet Natalia Zacharin and her entrepreneurial journey
02:22 Building Zacharin Consulting and fractional CFO services
03:42 Preparing financial records for a business sale
06:05 Common financial mistakes that hurt valuations
07:25 Owner salaries and reducing founder dependency
08:33 Managing debt, profitability, and cash flow
10:31 How early should you prepare for an exit?
12:11 The importance of professional advisors
14:19 Understanding the emotional side of selling
14:46 When is the right time to sell your business?
17:42 Setting realistic expectations for exit valuations
19:02 Costly mistakes business owners make before selling
20:05 How clean financials impact valuation multiples
21:08 Building a business that runs without its founder
22:08 Improving company culture and eliminating unnecessary expenses
23:47 Documenting systems and processes for a successful exit
25:10 Natalia's advice to her younger self
26:09 Zacharin Consulting and closing remarks


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The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth?


With our free valuation calculator, answer a few questions about your business, and you’ll get an immediate estimate of the value of your business.


You might be surprised by how much you can get for it: https://flippa.com/exit


--
What happens when the company you spent 30 years building is nearly destroyed after you sell it? In this episode of The Exit, host Steve McGarry sits down with Jeffrey House, founder of Ace Cider, to discuss how he helped pioneer America's modern hard cider industry, built a nationally recognized brand, and eventually sold the business for nearly $60 million. Starting with just $1,000 and a move from England to California, Jeffrey went from importing British beer to founding Ace Cider in 1993, growing it into a nationally distributed brand with approximately 20% annual growth and 11 consecutive Hot Brand awards.


Despite decades of success, personal health challenges and mounting business pressures led Jeffrey to sell Ace Cider to Vintage Wine Estates in 2021. But when the acquiring company spiraled into bankruptcy, Jeffrey watched his life's work nearly disappear before returning to help revive the brand. Jeffrey and Steve explore the challenges of bootstrapping a consumer brand, navigating acquisition negotiations, knowing when to exit, and the unexpected consequences of selling a business. Jeffrey also shares insights from his book, The Cider King, and the lessons he learned about entrepreneurship, resilience, and protecting a legacy


LinkedIn - https://www.linkedin.com/in/jeffrey-house-33900a31/


Grab a Copy of His Book - https://www.ciderking.net/


Ace Cider Website - https://acecider.com/



Key Chapters:
00:00 Introduction to Jeffrey House and Ace Cider
03:10 Jeffrey House's background and early career
06:31 Founding Thames America Trading Company
08:04 Discovering the opportunity in hard cider
10:19 Launching Ace Cider in California
11:47 Bootstrapping and growing the business
13:43 Product innovation and national expansion
15:14 The decision to sell Ace Cider
17:38 Health challenges and the $60 million offer
20:16 Navigating the acquisition process
22:39 Vintage Wine Estates' bankruptcy and Ace Cider's decline
24:08 Attempting to buy back the business
26:48 Returning to revive Ace Cider
28:16 The Cider King and personal stories
29:28 Lessons learned and advice to entrepreneurs
31:26 Where to find Jeffrey House and his book


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The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

Want a quick estimate of how much your business is worth?

With our free valuation calculator, answer a few questions about your business, and you’ll get an immediate estimate of the value of your business.

You might be surprised by how much you can get for it: https://flippa.com/exit


--
What does a private equity buyer really look for in a business, and how can founders make sure they’re choosing the right buyer in return? In this episode of The Exit, Steve McGarry sits down with Sequoya Borgman, Founder and CEO of Borgman Capital, to explore the buy side of lower-middle-market M&A. Drawing on decades of experience working on transactions and more than 20 acquisitions since launching Borgman Capital, Sequoya explains what makes a company attractive to buyers, why preparing for a sale can take years, and how factors like cash flow, management, culture, and seller expectations can shape a deal.

Sequoya also breaks down how a leveraged buyout works, what happens between signing an LOI and closing a transaction, and why sellers should vet potential buyers just as carefully as buyers vet them. He and Steve discuss keeping management teams motivated after an acquisition, misconceptions about private equity, the impact of elevated valuations and private credit on today’s deal market, and why some firms are holding onto investments longer. Throughout the conversation, Sequoya returns to one of the most important lessons from his career: successful deals ultimately depend on working with good people, aligning incentives, and knowing when to walk away.


LinkedIn - https://www.linkedin.com/in/sequoya-borgman-8a6057a/

Website - https://www.borgmancapital.com/


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The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

On this episode of The Exit, presented by Flippa, Steve McGarry sits down with Elliot Omanson, CEO of OWLFI, to discuss the decisions that determine whether an owner walks away from an exit with wealth preserved—or leaves money on the table.

Elliot explains how to know when to walk away, how to think about exit timing, and why tax strategy should be part of the plan well before a transaction closes. They also discuss Elliot’s book, Keep What You’ve Earned, and practical ways business owners can protect the wealth they’ve built.

Learn more:
OWLFI: https://owlfi.com
Elliot Omanson: https://elliotomanson.com
Connect with Elliot on LinkedIn: https://www.linkedin.com/in/elliot-omanson/
Get your Flippa business valuation: https://flippa.com/exit

The Exit is presented by Flippa.

Want a quick estimate of how much your business is worth?

With our free valuation calculator, answer a few questions about your business, and you’ll get an immediate estimate of the value of your business.

You might be surprised by how much you can get for it: https://flippa.com/exit

--
What does it take to build a company around your personal brand, then make yourself unnecessary to its success? On this episode of The Exit, Steve McGarry sits down with Heath Adams, founder of TCM Security and co-founder of Breach Point, to unpack his journey from ethical hacker and content creator to building, scaling, and ultimately selling a cybersecurity company. Heath shares how a penetration testing consultancy unexpectedly evolved into an education business after his first Udemy course generated $100,000 in its first week, and how content, community, and word of mouth became powerful engines for the company’s growth.

Heath also breaks down the work that went into preparing TCM Security for an eventual exit, including delegating responsibilities, reducing founder dependency, and building a company that could operate without him. He walks Steve through the sale process, from taking acquisition conversations seriously and hiring an M&A firm to receiving multiple offers and choosing strategic fit over the highest bid. They also discuss keeping the deal confidential while running the business, rewarding the team after the acquisition, and why founders should never assume a deal is done until the money is in the bank. Finally, Heath opens up about the unexpected loss of identity that can follow an exit and how that experience is shaping his next chapter as co-founder of Breach Point and Insight Recon.


Key Takeaways:

• Reduce founder dependency before you plan to sell.
• Delegate early and build a team that can operate without you.
• Never say no to an acquisition conversation.
• Multiple offers can create leverage during negotiations.
• Strategic fit can matter more than the highest offer.
• A deal is not done until the money is in the bank.
• Plan for your purpose and identity after the exit.

Personal &/or Company Bio:
Heath Adams, known online as The Cyber Mentor, is an ethical hacker, educator, and entrepreneur. An Army veteran, he founded and served as CEO of TCM Security, a cybersecurity services and training company he bootstrapped from nothing to an eight-figure exit with no outside capital. Heath has taught cybersecurity to more than a million students across YouTube, Udemy, and TCM Security Academy. He holds an MBA and recently appeared in the documentary Midnight in the War Room. Today he builds software at Breach Point and writes The Heath Adams Letter weekly for more than 34,000 subscribers.

LinkedIn - https://www.linkedin.com/in/heathadams/

Websites - https://breachpoint.com/

- https://insightrecon.com/

- https://heathadams.com/

Key Chapters:
00:01 Welcome and Episode Previ03:20 Introduction and Heath's background in ethical hacking

05:28 Starting a pen testing consultancy and initial sales process

06:50 Transition from service to educational business model

08:17 Scaling the business and reducing founder dependency

09:46 Timing and reasons for exit

12:30 Approaching buyers and valuation negotiations

14:18 The sale process timeline and due diligence

18:22 Bidding, LOIs, and final negotiations

21:27 Post-sale team and brand management

22:38 Mistakes and lessons learned in building and selling a business

24:24 Advice to his past self and future entrepreneurs

25:55 Current projects: Breach Point and cybersecurity software

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The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/

This episode was recorded prior to the passing of our guest, Matt Bradbury. We are honored to share this conversation and extend our heartfelt condolences to Matt’s family, friends, colleagues, and all those who knew him.



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Want a quick estimate of how much your business is worth?

With our free valuation calculator, answer a few questions about your business, and you’ll get an immediate estimate of the value of your business.

You might be surprised by how much you can get for it: https://flippa.com/exit

--
When is the right time to sell your business, and how do you know when the right buyer comes along? In this episode of The Exit, Steve McGarry sits down with Matt Bradbury, Founder and Managing Director of BAMA (Business Acquisition and Merger Associates), to discuss what business owners need to know before entering the M&A process. Matt explains why “the trend is your friend” when deciding when to sell, how consistent growth and strong margins can lead to a premium valuation, and why building a company that can operate without its owner makes for a much stronger exit.

Matt also shares what sellers should do to prepare their financials, why too many add backs can become a red flag, and how transparency can build trust before and during due diligence. He and Steve dig into buyer retrades, the tactics some firms use to chip away at a deal after the LOI, and why the highest offer is not always the best transaction. Matt also explains why having experienced M&A attorneys and advisors on your side can make the difference between protecting the deal you negotiated and watching it unravel before closing.


Personal &/or Company Bio:
Matt Bradbury is the Founder and Managing Director of Business Acquisition & Merger Associates (BAMA), a lower middle market M&A firm specializing in buy side, sell side, and management buyout transactions. With more than 35 years of experience supporting acquisitions and business sales, Matt began his career in the fitness industry, where he held leadership roles and worked on numerous acquisitions before founding BAMA. Today, he works with business owners and buyers across industries including manufacturing, distribution, industrial and environmental services, and health and fitness, helping clients navigate transactions and find the right partners for long term success.

LinkedIn - https://www.linkedin.com/in/bradburymatt/

BAMA Website - https://www.buysellyourbusiness.com/


Key Chapters:
00:01 Welcome and Episode Preview
02:14 Meet Matt Bradbury and His Unorthodox Career Path
04:15 From the Fitness Industry to M&A
05:53 The Businesses Matt Helps Buy and Sell
06:21 What Makes an Ideal Seller
09:33 Why Humility Matters in M&A
11:25 Knowing When It’s Time to Sell
14:06 Preparing Your Business for an Exit
16:32 Building Trust Through Transparency
21:05 Common Mistakes and Buyer Retrades
26:03 Lessons Matt Wishes He Knew Earlier
30:01 Matt’s Current Projects and Where to Connect


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The Exit—Presented By Flippa: A 30-minute podcast featuring expert entrepreneurs who have been there and done it. The Exit talks to operators who have bought and sold a business. You’ll learn how they did it, why they did it, and get exposure to the world of exits, a world occupied by a small few, but accessible to many. To listen to the podcast or get daily listing updates, click on flippa.com/the-exit-podcast/