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.