Shoot The Moon

EPISODE 249. If you decide to go through a sell-side process, what are the big things you can really screw up? In the final part of our Master Class series, we are talking what not to do during an M&A sale process. In the final installment of the Sell Side Master Class, the team breaks down the biggest mistakes founders make when preparing to sell their IT services business. From waiting too l...

Closing the deal is not the finish line. It is the beginning of the next chapter. In this episode of the Seller Master Class Series, Mike, Matt, and Ryan walk through what sellers should expect after a transaction closes. They cover how to protect customer confidence, reassure employees, establish communication cadence, and prioritize the right operational changes without disrupting service delive...

EPISODE 246. Key takeaways The LOI is not the final deal. It is more like a handshake on price and core terms, while definitive agreements create the legally binding structure of the transaction. The focus shifts from headline economics to risk allocation, including representations, warranties, indemnification, escrows, working capital, and earnouts. Sellers should expect multiple transaction docu...

EPISODE 245. Key Takeaways from this episode: What due diligence is:  The buyer’s inspection/audit of the seller’s business to confirm the story, financials, contracts, and assumptions made pre-LOI. The emotional shift for sellers:  Post-LOI can feel like “we’re done,” but diligence is often the most challenging phase and can be exhausting and distracting. Why buyers do it:  Risk mitigation and va...

EPISODE 243. The Sell Side Masterclass for Tech Services Founders: Finding the Right Buyer Finding buyers = defining the buyer universe (fit + ability to close). Strategic buyers buy for synergies (capabilities, customers, geography, talent, growth). Financial buyers buy for return + a future exit plan (often with rollover equity and a “second bite”). The “best” buyer isn’t just highest price, it’...

EPISODE 242: Selling your company starts long before buyers show up. In this Master Class episode, the team breaks down “month zero” and the first 30 days of a sell-side process: what gets built, who needs to be involved, what information you’ll be asked for, and how to stay focused on running the business while your advisor packages the story. You’ll also learn how the teaser, CIM, and financial...

EPISODE 241. In the 5th episode of the Seller Master Class, Ryan, Mike, and Matt break down the “village” of experts you need to successfully sell an IT services / tech-enabled services firm. They cover when to start engaging advisors (ideally 6–12 months ahead), the three core roles (M&A advisor, M&A attorney, tax specialist), and what can go wrong when you choose the wrong team—like infl...

EPISODE 240. What we cover Enterprise value vs. net proceeds:  why the headline number isn’t the check you cash The biggest “below-the-line” items that reduce proceeds: Taxes  (often the largest bite) Debt payoff  in cash-free, debt-free deals Working capital  targets and true-ups Professional fees  ( M&A , legal, tax, accounting/QoE) Timing vs. reduction:  how escrow/holdbacks and seller note...

EPISODE 239: In Part 3 of the Shoot the Moon Masterclass series, Mike, Ryan, and Matt break down how valuation really works for IT services firms—why “the multiple” isn’t the same thing as valuation, and why buyers price future performance and confidence in cash flows. They cover revenue quality (recurring revenue, churn, customer concentration), adjusted EBITDA and clean add-backs, common valuati...