Buy Grow Sell

Heath Maguire started talking to Simon Bedard about selling his digital agency, Wolf IQ, four to five years before he went to market. When the conversation turned to price, his answer was this: "It was never a number. It was more so what the deal was going to enable me to do."For Heath, that meant a six-week holiday with his wife and two kids, and paying off the family home. Exit Advisory Group ran the sale, so this is a client's account of the process from his side of the table.He talks Simon through how he planned it: merging two agencies so the business could be sold as one, documenting it so thoroughly that over 200 pieces of information went into due diligence, and a three-month handover. He also covers growing on referrals in a medical-specialist niche, building a team in the Philippines, and what he would do differently.In this episode:- How to set a goal for your sale that keeps emotion out of the negotiation- Why the structure of your business may need fixing years before you go to market- What a buyer pays for in an agency, and why recurring revenue matters- How documented systems shorten due diligence and the handover- How to weigh an upfront payment against an earn-outExit Like an Expert, Simon's book, is the practical guide the show is built on: https://exitadvisory.com.au/exit-like-an-expert?utm_source=spotify&utm_medium=podcast&utm_campaign=bgs-ep104&utm_content=description-bookFull show notes, transcript and FAQ: https://exitadvisory.com.au/podcast/how-heath-maguire-sold-wolf-iq?utm_source=spotify&utm_medium=podcast&utm_campaign=bgs-ep104&utm_content=description-episodepageConnect with Heath MaguireWebsite: ⁠https://hmedge.com.au/LinkedIn: ⁠https://www.linkedin.com/in/heathmaguire/Connect with Simon BedardLinkedIn: ⁠⁠⁠⁠https://www.linkedin.com/in/srhbedard⁠⁠⁠⁠Website: ⁠⁠⁠⁠https://exitadvisory.com.au/⁠⁠⁠⁠Website: ⁠⁠⁠⁠https://buygrowsell.com/Related episodes: EP103 Charlie Emery (SOILCO), EP102 Geoff Green (Fliteboard), and EP101 Jason Howard (StudyLink)0:00 Simon introduces Heath1:34 How Simon and Heath met2:13 From the family restaurant to events to his own agency4:15 A car wash at 12, and what family business teaches you5:51 His mum's lesson: just show up7:03 Starting Wolf IQ and finding the medical niche8:57 Starting a business before you quit your job11:19 Growing on referrals and white-label work13:55 COVID, working from home and the Philippines team16:32 Making an offshore team work20:43 Why he started planning the exit early22:54 Clarity takes the emotion out of a sale23:51 Two agencies into one before going to market26:43 Where AI is taking agencies29:44 The sale process and the broker's role33:12 The right outcome, clients and legacy34:47 Exit by design: the business in a binder36:21 Owning a business versus being a business owner37:21 What he would do differently38:54 It was never a number40:01 Terms have value too41:14 Upfront payments and changing term sheets42:57 What sets a multiple44:28 Advice for agency owners thinking about selling46:12 Life after the sale: Simple Home Edit50:31 The book and Simon's takeaways

Charlie Emery got the call from his parents to join the family business in 2001, alongside his brother Mark. Twenty-odd years later, it's SOILCO, a national organics recycling platform, and Charlie is the CEO.In this episode, Charlie walks through what it took to build on what his parents started: buying into the business with real money, setting up an outside advisory board, and walking away from two investor processes that were not right, one where a corporate buyer halved its offer after due diligence and one where the deal just did not feel right, before landing on the growth-capital partner who actually fit: an infrastructure investor comfortable funding a business that needs years of investment before it pays off.Simon Bedard and Charlie also get into what it took to buy into a family business with real money rather than be handed it, why an outside advisory board matters more than people think, and Charlie's own advice for owners: be honest with your own strategic plan, or nobody else will believe in it either.Connect with Charlie EmeryWebsite: https://soilco.com.au/LinkedIn: https://www.linkedin.com/in/charlie-emery-09b56422/Connect with Simon BedardLinkedIn: ⁠⁠⁠https://www.linkedin.com/in/srhbedard⁠⁠⁠Website: ⁠⁠⁠https://exitadvisory.com.au/⁠⁠⁠Website: ⁠⁠⁠https://buygrowsell.com/

Geoff Green was the first external investor in Fliteboard, the Byron Bay company that turned an electric surfboard into a global brand and sold to NYSE-listed Brunswick in 2023. He sat on the board from the outset and helped scale it to around $145 to 150 million in revenue in just four years.In this episode, Geoff shares the question that guided every decision: who is the right owner for this business at this point in time? It is a reframe that changes how you think about your own exit.Simon Bedard and Geoff cover funding fast growth without heavy dilution, why even an experienced board hired a corporate adviser to run the sale, what makes a growth story a buyer actually believes, and the identity shift that hit after the deal was done.Connect with Geoff GreenWebsite: https://www.grgmomentum.com.au/LinkedIn: https://www.linkedin.com/in/geoffgreenthesmartbusinessexit/Connect with Simon BedardLinkedIn: ⁠⁠https://www.linkedin.com/in/srhbedard⁠⁠Website: ⁠⁠https://exitadvisory.com.au/⁠⁠Website: ⁠⁠https://buygrowsell.com/

Jason Howard calls himself a 30-year overnight success. He built StudyLink across three different businesses, from a CD-ROM directory to the admissions software universities ran on, and never set out to sell it. At the end of 2023, he sold to Flywire, a NASDAQ-listed payments company, in a deal that closed in about six weeks.Simon Bedard and Jason talk through what made the business saleable without an exit plan: knowing your number, making yourself operationally redundant, finding a strategic buyer you already work with, and the personal toll of an exit that nobody prepares you for.Connect with Jason HowardWebsite: https://www.bowerbridge.com.au/LinkedIn: https://www.linkedin.com/in/jason-studylink/Connect with Simon BedardLinkedIn: ⁠https://www.linkedin.com/in/srhbedard⁠Website: ⁠https://exitadvisory.com.au/⁠Website: ⁠https://buygrowsell.com/

One hundred episodes. One consistent theme: the conversations business owners need to have about exit and rarely do.In this milestone episode, Simon Bedard steps back from the interview format to answer the seven questions that have come up most consistently across 100 episodes of conversations with founders, advisors, and acquirers. No guests. No framework. Just straight answers to the questions business owners are actually asking.Connect with Simon BedardLinkedIn: https://www.linkedin.com/in/srhbedardWebsite: https://exitadvisory.com.au/Website: https://buygrowsell.com/

In this special episode of the Buy Grow Sell Podcast, Simon Bedard sits down with Warren Hogan, Managing Director of EQ Economics and Chief Economic Advisor at Judo Bank, to discuss Australian inflation, interest rates, the succession cliff, and what it means for business owners planning to exit.Connect with Warren HoganLinkedIn: https://www.linkedin.com/in/warren-hogan-835581116/Website: https://eqeconomics.au/Connect with Simon Bedard LinkedIn: https://www.linkedin.com/in/srhbedardWebsite: https://exitadvisory.com.au/Website: https://buygrowsell.com/

We are reflecting on an extraordinary year of the Buy Grow Sell podcast, where we delved into the triumphs and tribulations of nearly 100 business owners from across the globe. To wrap up this season, we rounded up the top insights from our guests that every business owner needs to know. Listen to our final episode of 2023 and leave with five integral tips to ensuring a successful business sale. See you next year! Connect with Simon Bedard LinkedIn: https://www.linkedin.com/in/srhbedard/ Website: https://buygrowsell.com/ Website: https://exitadvisory.com.au/

In episode 98 of the Buy Grow Sell Podcast, I sit down with Nick Fanto from Orbital Advisory and Joanna Oakey from Aspect Legal to discuss the complex challenges that arise when business partnerships go sour. Nick shares personal experiences and valuable insights into the importance of planning for unforeseen circumstances, such as illness or injury, which may impact the key revenue-generating individuals in your business. Together, we discuss the critical role of key person insurance and the significant financial benefits it can provide in times of need. We also address the crucial need for a well-documented Shareholder Agreement, which can help resolve disputes, protect interests, and ensure a smooth transition in the event of an exit. Throughout the episode, you will discover real-life examples, practical advice, and stories that highlight the necessity of addressing these issues proactively. Don’t miss out on this informative discussion that will equip you with the knowledge and tools to safeguard your business and make well-informed decisions in challenging times. Connect with Nick Fanto LinkedIn: https://www.linkedin.com/in/nickfanto-lifeinsurancespecialist/ Website: https://www.orbitallife.com.au/ Connect with Joanna Oakey LinkedIn: https://www.linkedin.com/in/joannaoakey/ Website: https://www.aspectlegal.com.au/ Connect with Simon Bedard LinkedIn: https://www.linkedin.com/in/srhbedard/ Website: https://buygrowsell.com/ Website: https://exitadvisory.com.au/

From four frustrated moms crafting labels in a basement to a multi-million-dollar business model, Julie Cole and her co-founders navigated the challenges of co-founding a business while juggling parenthood and bootstrapping their startup. Eventually, Mabel’s Labels moved from a basement to a bigger basement to a 20,000 square foot facility before finally selling for $12M back in 2016. In this episode, Julie explores the ups and downs of having co-founders (especially when they are family) and the pivotal moments that lead to a successful exit. Connect with Julie Cole Website: https://mabelslabels.com/ LinkedIn: https://www.linkedin.com/in/julie-cole-llb-ma-3794671/ Facebook: https://www.facebook.com/Mabelhood/ Twitter: https://twitter.com/juliecole Twitter: https://twitter.com/mabelhood YouTube: https://www.youtube.com/c/MabelsLabels_Mabelhood Connect with Simon Bedard LinkedIn: https://www.linkedin.com/in/srhbedard/ Website: https://buygrowsell.com/ Website: https://exitadvisory.com.au/

From growing her business to $1M then spending it all on a lawsuit, seeing her business fall apart on 9/11, having her father die six weeks later, and losing her house on the very same day as the funeral, Beate Chelette has faced her fair share of adversity. But she turned it around, rebuilding her business from scratch, and eventually selling it off to Bill Gates for 5x gross earnings. In this episode, she unveils her path from a single parent drowning in debt to a multimillion-dollar deal with Bill Gates. Overcoming lawsuits, personal tragedies, and financial turmoil, Beate’s story proves that adversity fuels future success. Get ready to be inspired as we explore Beate’s rollercoaster journey from rock bottom to remarkable triumphs. Connect with Beate Chelette Website: https://beatechelette.com/ LinkedIn: https://www.linkedin.com/in/beatechelette Facebook: https://www.facebook.com/beate.chelette Twitter: https://twitter.com/BeateChelette Connect with Simon Bedard LinkedIn: https://www.linkedin.com/in/srhbedard/ Website: https://buygrowsell.com/ Website: https://exitadvisory.com.au/