Why Founders Get Outmatched When Selling Their Business with Lewis Schiff

Most founders believe that because they built a successful business, they are prepared to sell it. Lewis Schiff believes that assumption can cost them millions. In this episode of Your N.E.X.T., Jerome Myers sits down with Lewis Schiff, Chairman of Birthing of Giants, to unpack why founders are entering one of the most important economic windows of our lifetime. An estimated $80 trillion in wealth is moving from older generations to younger ones, and that capital is looking for places to land. One of those places is founder-led lower middle market businesses. But there is a problem. The founder who built the company may only sell one business in their lifetime. The buyer across the table may buy ten companies a year. That imbalance creates risk. Lewis explains why private equity firms are aggressively pursuing founder-led companies, how professionalization can increase exit value, and why earn-outs often become traps for owners who were not fully prepared before going to market. Jerome and Lewis also explore one of the most important distinctions in the exit conversation: the difference between being an operator and being an owner. Operators make promises and keep promises. Owners build transferable, creditworthy assets. That shift changes how founders think about capital, leverage, decision-making, professionalization, growth, and the eventual sale of the company. This conversation is for founders, advisors, and business owners who want to avoid being outmatched during the exit process and build a company that is not only profitable, but transferable. Jerome and Lewis discuss: • Why the $80 trillion wealth transfer matters to business owners• Why private equity is targeting lower middle market companies• How professionalization can increase exit value• The hidden danger of earn-outs• Why founders often walk away with less than expected• How taxes, fees, and lost salary affect post-exit reality• Why capital does not automatically equal wisdom• The difference between operator thinking and owner thinking• How AI may help founders extend founder mode• Why selling a business requires a different skill set than building one “Operators make promises and keep promises. Owners build assets.” Learn more about Lewis Schiff and Birthing of Giants:https://birthingofgiants.com/prep Learn more about Jerome Myers and Exit to Excellence:https://exittoexcellence.com In This EpisodeKey QuoteLearn More Learn more about your ad choices. Visit megaphone.fm/adchoices