From $500K Personal Monthly Cash Flow to a $26M Exit

Moneywise

Hampton

Business, Entrepreneurship, Investing

4.8 • 674 Ratings

🗓️ 25 June 2024

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

Why would you give up $500k/month personal cash flow? Despite his company's rapid profit growth, Marshall Haas chose to forgo his substantial income for mental space and a $26M exit. Before considering selling his main company, Marshall had already begun offloading smaller businesses. In this episode, recorded just weeks after his major exit, Marshall provides a fresh perspective on the exit process, the differences in selling larger versus smaller companies, and his reasons for selling despite exponential growth. We also delve into the mental shift from enjoying a steady monthly cash flow to receiving a massive lump sum. This is Moneywise, a podcast where host Sam Parr is joined by high-net-worth guests to explore exclusive insights into personal finance and lifestyle tailored for other high-net-worth people, or those on their way. They'll get radically transparent about the numbers, revealing things like their burn rates, portfolios, and spending habits. Who is Sam Parr? Sam is a serial entrepreneur and the co-founder of The Hustle, which he sold to HubSpot in 2021. He's also the co-host of one of the world's top podcasts for entrepreneurs, My First Million. Known for his insightful business acumen and candid communication style, Sam Parr continues to be a prominent figure in the world of media and entrepreneurship. Sam's newest and biggest venture yet is Hampton, which he co-founded in 2022. This podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups. Chapters: Marshall's Background and Early Ventures (03:29) The Beginning of Shepherd (10:58) Why Marshall Decided to Sell Shepard (13:15) Life After the Exit (21:36) Marshall's Spending and Finances (24:35) Final Thoughts and Advice (30:54) This podcast was produced in partnership with Lower Street and distributed by Morning Brew.

Transcript

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0:00.0	When the offer came in, I was pretty consistently, personally bringing in about $500,000 per month in cash flow.
0:11.9	And it was growing.
0:13.4	You guys, my feet are sore.
0:15.7	Why?
0:16.4	Because I've been running around trying to find you more money-wise stories.
0:20.2	Finding a wealthy person who's crazy enough to be transparent about their wealth like today's
0:24.7	guest is hard. However, I've got a winner today.
0:28.9	Today's guest is Marshall Haas, and he's special because I just spoke to him only a few weeks
0:34.3	after he made over $20 million. And as you just heard, when he sold, he was making $500,000 a month in personal income.
0:43.5	Which begs the question, why sell?
0:45.9	If he was looking to work less, why not just step back and hire someone to help him run the business?
0:51.2	You can delegate yourself all the way out, but when you get to that level,
0:54.4	like it's no longer about the time that you're working on the thing. It's about the mind share
0:58.3	that it takes up in your head. And you can't really get rid of that when you're the majority
1:03.3	shareholder. The decision to sell came from an unexpected opportunity, and he did not take that
1:09.2	lightly. And the sale, as I mentioned, happened
1:11.8	just a few weeks before our interview. So we're talking to someone who's post-exit and still in the
1:16.2	honeymoon phase. We'll talk about the process of selling, including the anxiety and stress that
1:20.8	goes with the exit period. Also, why he decided to ultimately go through with the deal, despite
1:25.3	almost bailing a bunch of times, and the mental adjustment that comes from training in massive cash flow for a huge lump sum.
1:37.2	I'm Sam Parr and this is Money Wise.
1:41.7	It's easy to scroll through Instagram for just 30 seconds and see a ton of stuff on how to make money,
	...

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