What happens when you turn down a solid acquisition offer? In this powerful episode, Walter Paulsen shares hard-earned insights from decades of founding, scaling, and selling companies in Silicon Valley. From early lessons in rejecting a high-value exit to building Blackhawk’s explosive gift card growth engine, Walter dives deep into founder psychology, exit strategy readiness, and why focus and humility matter more than hype. If you're scaling toward an exit, this episode is packed with founder-tested insights.
Key Takeaways: • Don't confuse vision with hubris—listen to advisors and avoid "sucking your own exhaust."
• Early exits aren’t failures; sometimes the smaller win is the smarter one.
• Hire A-players and protect company culture, even under growth pressure.
• Start planning for your exit as early as Series A—especially with outside investors.
• Avoid the “shiny penny” trap—double down on what works, don't dilute your focus.
• Understand your buyer—design your company to be bought, not just admired.
• Know the difference between PE-targeted companies and VC-backed startups.
• Post-exit depression is real—have a purpose beyond just financial success.
Timestamps: 00:08 – Introduction to Walter Paulson 02:04 – Walter's background in Silicon Valley 05:08 – Key lessons from early business experiences 10:15 – The importance of knowing when to exit 15:30 – Common mistakes founders make 20:45 – Post-exit challenges and finding purpose 25:00 – Closing remarks and contact information
Links & Resources
- Walter Paulsen
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44 mins