The Wise Exit

E12: Today, based on multiple requests from our listeners, my friend, fellow entrepreneur, and co-founder of Exitwise, Brian Dukes is going to interview me, Todd Sullivan, to help our listeners learn a little bit more about my background and how we came to start Exitwise. We'll take you through the four companies I've started and sold while sharing a few memorable stories about my co-founders, investors, customers, and acquirers that have made my professional journey worth the risk, the sacrifices, and the emotional rollercoaster that is entrepreneurship.

A few highlights:

 

(9:36) ... How professional hockey led to the creation of the first big product of Todd's career

(18:10) ... The creation of Capball, a meeting with Toys R Us, and a chaotic trip to pitch the product

(29:03) ... The Michigan (Ross) MBA program, and the creation of Spirit Shop

This is the first part of a two-part series. We hope you enjoy our conversation.

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This episode is brought to you by Exitwise:  https://www.exitwise.com

Exitwise helps business owners create the exits they deserve by assembling the best teams of industry specific, M&A experts, who will help maximize the sale of each business.

How Does It Work:

1. Schedule A Call:  Schedule a call with one of our M&A Advisors and we'll walk you through the entire process of selling your business, from market valuations to M&A expert fees and from due diligence to the signing of your purchase agreement. We're here to answer any questions you may have.

On this call, we'll want to learn about the history of the business, your financial performance, your management team and listen to your thoughts and requirements for selling the business so we can make sure to find the best M&A experts to help maximize your exit.

2. Review Top Experts:  Once we've had a chance to process all your business information, we'll share with you, our top choices for investment bankers, M&A attorneys, and tax accountants to help maximize the sale of your business.

We’ll present each M&A expert’s transaction history, estimated valuation range for your business and their fee structures. Then we’ll talk through the pros and cons of each choice to help you prioritize and make the best decisions.

3. Negotiate & Hire:  Finally, when we've narrowed it down to your top choices, we'll negotiate your engagement letter with each M&A expert to make sure fees and terms are fair for everyone. We know what to look for and we know how to keep everyone incentivized for your optimal outcome.

Once your M&A experts have been selected and you’re ready to move forward, we’ll collect signatures and get everyone to work.