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THE EXIT CLUB podcast is all about what happens once the papers are signed, the deal is done, and life after exit begins. Each week, host Laura Rich talks with successful entrepreneurs across a range of industries about how they navigated the aftermath of an exit. THE EXIT CLUB pulls back the covers on this final stage of the entrepreneurial journey, sharing stories of grief and triumph.
Veteran journalist and serial entrepreneur Laura Rich exited her business in February 2017. She is also the author of the Paul Allen biography The Accidental Zillionaire and a former columnist for the New York Times.
At Fratzke Media, our paths cross with some amazing people. Learn more about their habits, insights and stories behind their success.
Dave Will founded Peach New Media, an online learning business, in 2001, with a little bit of borrowed funds and hopes of customers -- enough, he said, to put "Cheerios on the table" for his family. In 2015, his business was acquired by a private equity firm for eight figures. The path to exit began when the phone started ringing with potential suitors and one of them got as far as a closing date. Then, Dave did a less than common thing: He told his employees about the deal that was about to close -- except that it didn't. The buyer put the deal on indefinite hold and employee morale took a hit. Great lessons from Dave on how he pulled the deal back from the brink and saved every employee’s job. After the deal closed, Dave stayed on as part of the deal, with the intention of bringing his company's culture into a bigger entity. When his vision clashed with the other senior executives', he left. Once out, Dave spent too much time "saying yes," something he regrets and says that next time, he’d build in more time to grow bored.
