My Take on Acquisitions and Exits
Mon Dec 22 2025
In this solo episode of 365 Driven, host Tony Whatley pulls back the curtain on one of the most misunderstood topics in entrepreneurship: private equity, mergers & acquisitions, and what "exits" really look like in the real world.
Tony starts with hard data that every founder needs to hear—how many businesses actually survive 5 and 10 years, how few ever sell, and why the "big exit" stories on social media distort expectations. He then breaks down how businesses are valued (including multiples and transaction realities), why the median business sale is far lower than most entrepreneurs assume, and what makes a company truly attractive to buyers.
From there, Tony shares his perspective on the private equity business model—why firms sometimes "overpay," how roll-ups work, what changes after an acquisition, and why founders should think carefully about transition timelines once they suddenly have a large payout and a new boss. He also addresses the criticism founders often face when they sell, how to think about exits through the lens of business cycles and personal goals, and why complaining about industry consolidation is never a strategy.
If you're building with the hope of one day selling—or you want to understand how to increase your valuation, protect your team, and position yourself for a smart exit—this episode delivers the real talk most entrepreneurs don't get until it's too late.
Key highlights:
Why exits are rarer than entrepreneurs think
The reality of business survival rates (Year 1, 5, and 10)
How many businesses actually sell—and why the number is so low
The truth about average business sale prices
Public reactions to acquisitions: sellouts vs success
How private equity roll-ups really work
The hidden downside of staying on post-exit
Choosing the right buyer vs the highest multiple
Connect with Tony Whatley:
Website: 365driven.com
Instagram: @365driven
Facebook: 365 Driven
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In this solo episode of 365 Driven, host Tony Whatley pulls back the curtain on one of the most misunderstood topics in entrepreneurship: private equity, mergers & acquisitions, and what "exits" really look like in the real world. Tony starts with hard data that every founder needs to hear—how many businesses actually survive 5 and 10 years, how few ever sell, and why the "big exit" stories on social media distort expectations. He then breaks down how businesses are valued (including multiples and transaction realities), why the median business sale is far lower than most entrepreneurs assume, and what makes a company truly attractive to buyers. From there, Tony shares his perspective on the private equity business model—why firms sometimes "overpay," how roll-ups work, what changes after an acquisition, and why founders should think carefully about transition timelines once they suddenly have a large payout and a new boss. He also addresses the criticism founders often face when they sell, how to think about exits through the lens of business cycles and personal goals, and why complaining about industry consolidation is never a strategy. If you're building with the hope of one day selling—or you want to understand how to increase your valuation, protect your team, and position yourself for a smart exit—this episode delivers the real talk most entrepreneurs don't get until it's too late. Key highlights: Why exits are rarer than entrepreneurs think The reality of business survival rates (Year 1, 5, and 10) How many businesses actually sell—and why the number is so low The truth about average business sale prices Public reactions to acquisitions: sellouts vs success How private equity roll-ups really work The hidden downside of staying on post-exit Choosing the right buyer vs the highest multiple Connect with Tony Whatley: Website: 365driven.com Instagram: @365driven Facebook: 365 Driven