Selling Your Business on Your Terms – A Founder’s Journey Through Acquisition, Pandemic Challenges, and Life After ExitIn this episode of the Power Exit Podcast, host John Marsh sits down with Phil Cannizzaro, founder of InfoTank, to unpack the realities of selling a business—from the emotional weight of letting go to navigating unforeseen hurdles like a global pandemic mid-transaction. Phil shares his 22-year journey building a thriving IT services company, the strategic decisions that made his business acquisition-ready, and the lessons learned from exiting on his own terms.Key Discussion Points:
- The Genesis of InfoTank: Discover how Phil transitioned from corporate IT roles to entrepreneurship in 1998, building a referral-based business that carved a niche serving churches, schools, and small enterprises. Learn how relationships and adaptability fueled growth, even through crises like the dot-com crash and the 2008 recession.
- The Decision to Sell: Phil opens up about the personal and professional tipping points that led him to consider selling, including burnout, family priorities, and the unexpected opportunity presented by John’s outreach.
- Navigating the Sale Process: A candid look at the complexities of mergers and acquisitions—from valuation and buyer selection to due diligence. Hear how Phil’s meticulous financial planning and operational foresight streamlined the process, even as COVID-19 introduced unprecedented challenges.
- Transitioning to “Life 2.0”: Phil reflects on handing over the reins to new owners, the emotional shift from founder to retiree, and how he’s embracing post-exit passions like woodworking, travel, and grandparenting.
- Actionable Advice for Business Owners: Phil emphasizes the importance of early exit planning, building a sustainable business model independent of the founder, and surrounding yourself with trusted advisors (CPAs, attorneys, M&A experts) to ensure a seamless transition.
- Building a sellable business: Why operational consistency and diversified client bases attract buyers.
- The role of trust and transparency in buyer-seller negotiations.
- Post-sale transitions: How to structure consulting agreements and protect your legacy.
- Why “timing the market” matters less than timing your life—and how to recognize when it’s time to pivot.
Why Listen?Whether you’re years away from an exit or actively exploring a sale, this episode offers a roadmap for maximizing your business’s value, mitigating risks, and avoiding common pitfalls. Phil’s story underscores the power of preparation, the value of relationship-driven leadership, and the freedom that comes from aligning your exit strategy with your personal and financial goals.Featured Topics:Connect With Us:Subscribe to the Power Exit Podcast for more stories and strategies from entrepreneurs and M&A experts. If you’re preparing for your own exit, visit Marsh Creek Advisors for resources on valuations, exit planning, and maximizing your business’s potential.Website: https://www.mcreek.com/Follow Phil’s Post-Exit Adventures:Explore Phil’s woodworking projects and insights on life after entrepreneurship by following him on Instagram - / pscannizzaro Listen Now to gain the clarity and confidence you need to take control of your exit—and your future.
