Branching Out
A TreeFork Strategies Podcast
Real Stories. Smart Strategies. Better Outcomes.
For founders and CEOs, selling the company they have worked so hard to build can be one of the most significant milestones in their career. So, it can be helpful to be armed with guidance from professionals who have tackled a similar challenge.
In each episode, Elizabeth Shea sits down with seasoned founders and CEOs who have successfully sold their companies through a strategic or financial transaction. These CEOs discuss the thinking and planning that went into their decision to sell, what worked well, what they would do differently, and the valuable lessons they would pass along to founders with a sale on the horizon.
Our goal is simple: to provide a playbook you can use to approach your own sale with confidence and clarity, knowing you’re not alone in the process.
Latest Episodes
Ab Emam shares how WDG evolved from a single website project for a friend into a full-scale, midmarket agency he deliberately built for sale. He breaks down why founders should plan years before they initiate a transaction, why hiring the right business banker can dramatically change your multiple, and why leadership teams need to keep their eye on the ball long after receiving the LOI. Ab also speaks candidly about the identity shift that founders can experience after closing and the importance of putting a strong operator in place. This episode is a practical, founder-to-founder look at selling with intention and keeping your head in the game until the ink is dry.
In this episode of Branching Out, Elizabeth Shea sits down with Jim Datovech, former CEO of LKC Technologies, to explore the long road from acquiring a medical device company to refining the product and orchestrating a successful exit. Jim shares how a deal that died at the last minute unexpectedly validated the company’s scalability and paved the way for a stronger deal months later. He offers candid insights on disciplined spending, legal preparedness, the importance of marketing to suitors, and why founders must align their expectations with market reality. This episode is a must-listen for leaders looking for practical advice to navigate a highly regulated industry.
In this episode of Branching Out, Elizabeth Shea sits down with Andrew Sherman, senior partner at Brown Rudnick, for a candid look at how deals really get priced, structured, and won. Looking at both the sell-side and buy-side perspective, Andrew explains why M&A is cyclical, the differences between strategic and financial buyers, why sellers must perform reverse due diligence on buyers, and how to surface the “gold bars in the attic” — the intangible value drivers that buyers won’t pay for unless you point them out. He also unpacks common gotchas like PPP/EIDL distortions, rollover equity, earnouts, and under-capitalized “buyers” who look legit until it’s time to close. The bottom line: don’t just prepare your business — prepare your story, your expectations, and your deal team.
In this episode of Branching Out, Elizabeth sits down with Bess Winston, the founder of Winston Agency. She talks about how one modest media relations project-turned-campaign laid the foundation for her to meticulously build a nationally respected boutique firm with a powerhouse team before ultimately selling her agency in 2022. Bess sheds light on the emotional jolt of parting with a company, the importance of protecting your people, navigating post-acquisition culture shifts, the advice she wishes she hadn’t ignored, and the moment she learned the hard truth: “When you sign your name, you’re done.” This episode is for anyone weighing a major inflection point — whether you’re debating when to slow down, when to scale up, or who really deserves a seat at your deal table.
In this episode of Branching Out, Allan Klassen, former CEO and managing partner of Albi Homes, shares how he helped turn a Calgary-based luxury home builder into a “niche of one” and a strategic acquisition target which was acquired by Brookfield Residential in 2015. Allan walks through the realities of negotiating with a globally recognized asset management company and the lessons he learned about non-negotiables, timing, and values alignment. He also opens up about the emotional transition from entrepreneurial leader to an executive inside a finance-driven organization, and how that journey led him to a new role as Chief Experience Officer and ultimately to launching his own advisory practice, ClarityQuest Leadership. This conversation is a must-listen for founders and leaders who want to prepare not just their business — but themselves — for a future transaction.
In this episode of Branching Out, Ethan McAfee shares how he built Amify from a one-man operation in his Arlington townhouse into one of the largest Amazon agencies in the U.S., serving major consumer brands before selling to Cart.com in 2024. Drawing on his earlier career as an internet-stock investment analyst, Ethan explains how venture capital, market cycles, and founder energy all factored into the timing and structure of his exit. He offers practical advice on preparing your company years in advance of a sale, reducing founder dependence, and balancing growth against burn so you maintain control over your options. Now a senior advisor at a private equity fund, Ethan reflects on why closing one chapter can be the best way to open the next.
In this episode of Branching Out, Susan Apgood, former CEO of News Generation, shares candid and thoughtful insights about her journey selling her company in April 2020 in the midst of the COVID lockdown. She opens up about navigating a challenging broker relationship, unexpected cultural clashes between merging teams after the acquisition, and the emotional reality of watching a company she built change in ways she didn’t foresee. Susan also reflects on why due diligence, communication, and support networks—especially for women founders—are essential during an exit. Now a full-time professor at American University, she brings those lessons forward to empower the next generation of women leaders.
In this episode of Branching Out, Jake Bittner, former CEO of Qlarion, recounts his path from co-founding a government data analytics firm to leading it through a successful acquisition by GCOM in 2021. He offers a transparent look at what it’s like to navigate the sale process with private equity buyers, from managing due diligence to balancing emotion with strategy. Jake also reflects on how selling a business changes your perspective on leadership, purpose, and personal identity. His story reveals the often-overlooked realities of exiting a company—and finding clarity on what comes next.
In this episode of Branching Out, Cary Hatch, former CEO of MDB Communications, opens up about the deals she walked away from, the one that finally felt right, and what it takes to step away from the CEO seat after decades at the helm. She shares how timing, values alignment, and a deep sense of purpose shaped her journey — and offers honest insights into the realities of selling an agency after years of leadership. She also highlights the need for introspection and the emotional aspects of letting go. Her story is a powerful reminder that success in an exit isn’t just about valuation—it’s about vision, integrity, and fulfillment beyond the deal.
In the inaugural episode of Branching Out, Elizabeth Shea interviews Viraj Gandhi, former CEO and founder of Paradyme Inc., about his 21-year journey from building a local and state contracting business to leading a major federal contractor acquired in 2024. Viraj shares how an unexpected AI partnership propelled the company toward acquisition and reflects on the complexities of cultural fit, emotional readiness, and life after selling a business. Their conversation offers candid insights for founders preparing to navigate both the practical and deeply personal sides of an exit.