In this episode of the Inorganic Podcast, co-host Ayelet Shipley interviews Carrie Kerpen, a pioneer in social media and co-founder of Likeable Media. They discuss Carrie’s journey from starting a social media agency to successfully exiting the business. Carrie shares insights on the importance of profitability, setting exit goals, choosing the right M&A advisor, and negotiating earn-outs. She reflects on her experiences and the lessons learned, particularly for women entrepreneurs, and emphasizes the need for community and support in the business world.
Takeaways
Carrie started Likeable Media in 2007, one of the first social media agencies.
The initial focus was not on exiting but on building a profitable business.
Setting a target exit value can help guide business decisions.
Timing and personal readiness are crucial when deciding to sell a business.
Choosing the right M&A advisor can significantly impact the sale process.
Negotiating earn-outs requires careful consideration of control and reporting.
Reflecting on the exit process can reveal areas for improvement.
Building a community for women founders can provide essential support.
Women entrepreneurs often face unique challenges in the exit process.
M&A can be a powerful tool for business growth and problem-solving.
Chapters
0:00 Introducing Carrie Kerpen
1:05 Founding Likeable Media
3:33 Early Growth & Cash Flow Challenges
5:22 Becoming CEO and Focusing on Profitability
6:37 Market Shifts & Productizing the Agency
7:21 Building a Brand through All the Social Ladies
9:07 Financial Stability & the $20M Exit Goal
10:43 Knowing When It’s Time to Sell
12:55 Choosing an M&A Advisor vs. a Banker
15:36 Price vs. Timing After the Exit
18:22 Negotiating & Protecting an Earnout
22:02 Life After the Sale
23:12 What Carrie Would Do Differently
24:51 Acting Like a Platform and Rethinking Capital
25:58 The Exit Gap and The Whisper Group
27:45 Closing Thoughts
Connect with Christian and Ayelet
Ayelet’s LinkedIn: https://www.linkedin.com/in/ayelet-shipley-b16330149/
Christian’s LinkedIn: https://www.linkedin.com/in/hassold/
In/organic on YouTube: https://www.youtube.com/@InorganicPodcast/featured
Connect with guest, Carrie Kerpen
https://www.linkedin.com/in/carriekerpen/
