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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.
Michael Joseph is the founder and former CEO of GreenChef, a mealkit business that was acquired earlier this year by HelloFresh. The deal called for Michael to remain with the company, but, like many an entrepreneur, Michael quickly discovered that working for a big company was not for him, and lawyered his way out of his agreements within weeks after the deal closed. He’s prohibited from talking about the details of his departure, but he did share some behind the scenes on the way the deal went down, including the controlling role a board plays and the stress that entrepreneurs go through during the sale process. He also talked about how he has worked on recuperating from his business, while also thinking about what he’ll start next. It was really a treat to speak with Michael. I hope you enjoy our conversation.
What you’ll learn:
That it’s not super advisable to run two companies at once, since one of them ultimately will have to shutter. The stronger one won out, of course.
1) Who calls the shots in a sale, depending on how your company is structured.
2) Why it’s important to take time off after selling a business.
3) How to start thinking about the next venture.