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Episode Summary
You spent twenty years building it. You’re sitting at the kitchen table with a list of advisors who all sound persuasive, and you can’t tell anyone you’re even thinking about selling. That was me and my dad in 2013. He’d grown the family business from a startup he mortgaged our house to fund up to roughly $20M in revenue and 110 employees. I’d come up through the shop and ended up as EVP. When the “what’s next” question finally landed, neither of us had a real map. So we did what most owners do. We called CPAs, bankers, attorneys, brokers, M&A folks, and every single meeting had a persuasive case for why we should hire that person. We closed the deal in early 2014. It worked financially. The process was lonely as hell. This first episode is me telling you why I’m doing this show: to bring you the information I wish I’d had, so you exit financially optimized AND emotionally proud, because Bo Burlingham’s research says half of owners don’t.
Top 10 Takeaways
- You get one shot at selling your business. Build the team and the timeline before the freight train leaves the station.
- Every advisor pitches you their version of the deal. None of them puts the whole puzzle together for you.
- The vulnerable phase is before you can tell anyone. That’s also when most bad decisions get made.
- Once you pick a path, the deal becomes a freight train. Getting off costs you leverage and time.
- Half of owners feel regret or discontent after the sale. Financial success doesn’t guarantee emotional success.
- Your identity is wrapped into the company more than you think. Plan for who you are on the other side.
- CPAs, bankers, and brokers see the transaction. None of them sees your life after it unless you do.
- Financially optimized means right team, right timing, right buyer. All three, or you leave money on the table.
- Before you sell, know what you want, when you want it, and how you want it. That’s the whole job.
- After the sale, you need a purpose pulling you forward. Pick it before you exit, not after.
Sound Bites
“When you’re the owner’s son, you have two options when you start in the family business. One is hide, do as little as possible, and ride the family name, or the second option is work 200% harder than everybody else, be there earlier than everybody, later than everybody, and outperform because no matter what, they’re still going to look at you like you’ve been given everything.” (@TBD) — Ryan Tansom
“Once we chose a path, the freight train starts going, and it’s very difficult to stop or get off. It’s one of the most vulnerable feelings within a business life cycle.” (@TBD) — Ryan Tansom
“Every professional that you’re working with at that point is in it for the deal and for the transaction, so no one’s really putting the whole puzzle together as far as what you want before and after the sale of the business.” (@TBD) — Ryan Tansom
“There is only one round. There’s only one shot at selling your business.” (@TBD) — Ryan Tansom
“50% of the owners and entrepreneurs that he interviewed felt some sort of regret or discontent about the way things turned out.” (@TBD) — Ryan Tansom
About This Episode
Episode 0 is Ryan’s introduction to Life After Business. He walks through his backstory: growing up in a family of entrepreneurs, working his way through his dad’s business from the shop floor to executive vice president, and the 2014 sale of the company to a local competitor after months of advisor meetings, emotional whiplash, and the lonely process of trying to figure out what an exit even looks like. He frames the mission of the show: bring owners the information he wishes he’d had before selling, so they exit financially optimized and emotionally proud of how it turned out. Format announced is weekly episodes, half-hour to 45 minutes, with interviews split between former owners who’ve been through it and the CPAs, attorneys, bankers, and brokers who work the process.
Resources Mentioned
- Built to Sell by John Warrillow — Referenced for the lack of material on building a sellable business.
- Finished Big by Bo Burlingham — Referenced for the finding that 50% of owners feel regret or discontent after selling.
- Solidity Financial — Ryan’s firm at the time of recording, where he partnered with Brandon Wood after the sale.
Connections
Phase + Module:
- Module 1 — Ownership Goals — The “what do you want before, during, and after” question that this whole episode is built on
- Module 9 — Operator Transition — The exit and transition themes Ryan lived through
Milestones:
- Milestone 1 — Time & Role Goals — The role exit, EVP to “what’s next”
- Milestone 25 — Operator Transition Plan — The sale and post-sale transition
Concepts referenced:
- The Owner-Operator Trap™ — Identity wrapped into the company, the “who am I after” question
- Independence by Design™ — The throughline this entire show eventually became