Hello, and welcome to the exit presented by Flipup, the number one platform to buy and sell online businesses.

Flipup manages over a billion in deal value annually and combines expert buy and sell side advisory with its market leading valuation tool,

deal room, off market offering, market insights and AI based deal by deal matching engine. Now for the exit.

The exit is a 30 minute podcast featuring awesome entrepreneurs who have been there and they have done it.

The exit talks to operators who have bought and sold businesses of all different sizes. You learn how they did it, why they did it and get exposure to the world of exits.

It's a world occupied by a small few but accessible to many on this episode. I sit down with Brett Palombo.

He's a fantastic entrepreneur and M&A advisor and we walk through his awesome whole story here from start to how he created a PDF and made it into a full blown business and took it through to an exit.

One of my favorite parts about this conversation is that he really talks through some genuine advice for young entrepreneurs out there.

You're going to want to stick around to the end because his finale question is super straightforward.

It is like a direct piece of advice for people that are starting any company right now in any space and his company started, like I said, as a PDF,

it was a really creative idea within the real estate market and I really like how he took this all the way through to an exit because not only was it a creative outcome for him that was 8% held back on the deal, which is all cash basically 92% cash.

Walking through what it was like to get a bunch of L.O.I.s and effectively put it up for auction and I think that this was a really creative way of pricing your company and not necessarily going to market saying this is exactly what my valuation is but allowing the market to determine based on the data.

I think this is sort of the future how a lot of companies are going to get sold and it's perfect for the exit here because flippa is a marketplace that has people auctioning and bidding on assets all over the world and I think this is a really great example so distressed pro is the business that he scaled from zero all the way to an exit.

And now doing M&A he really can teach people how to go through this process as well and some of the things that Breck talks about are really in depth so if you guys are you know curious as to where you can learn more is really active on LinkedIn so I'm going to leave the link to that in the show notes you guys can check his information out there because as an M&A advisor he can help.

And it's really important when you're running any company in any industry to seek help and be comfortable with getting help from others and that's something that Breck I think is really really good at and he goes through it in his interview here on the exit so without further ado sit back relax and listen to the story by Breck Palombo.

All right I am here with Breck Palombo and he is a mergers and acquisitions advisor how's it going Breck great thanks for having me.

Yeah I'm excited to unpack your multiple successes but before we get into that let's talk about your background what got you into business and entrepreneurship.

Sure I bought my first business was the local bike shop in 1989 I know I don't look like it.

But yeah that was the very first business it was the guy was he was the second owner it had already been on the same street main street for 30 years and he's like hey I'm going to college and you guys

want to buy this business and me and a buddy and we did so took loans from he from his parents and me from my grandparents and for $3,500 we bought the name of the business and the sign and the piles of old parts and some better relationships.

And yeah that was my first foray into business $3,500 yeah $3,500 of course you know by today's dollars the second million dollars but then the second business you know I got into after college out you know did the same thing like left left that business behind and went off to you know went off to school for a bit and then kind of came out of that and got it.

And got into sales you know software sales actually sort of pre dot com the first dot com boom you know late late 90s and and that you know came to a screeching halt right after 2000 I got into real estate after that I had an uncle who was you know crushing it in Boston I thought you know be nice to be selling

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