35: Avoiding the Shiny Penny: How to Stay Focused and Maximize Your Business Exit

Walter Paulsen, CEO Coach & Growth Advisor, Vistage Worldwide

In this no-fluff episode of From Angel to Exit, host Bruce Eckfeldt sits down with serial entrepreneur and CEO coach Walter Paulsen to discuss what really drives a successful business exit. Walter, who has built and sold multiple startups and worked with growth-stage companies across Silicon Valley, shares candid stories—like the time he passed up a lucrative early acquisition offer and deeply regretted it.

Listeners will gain insight into the reality of scaling a company versus chasing unicorn dreams. Walter reveals how many founders fall into the trap of hubris, over-hiring, or chasing shiny new markets instead of focusing on solving meaningful customer problems. Drawing from his time at Blackhawk where he helped grow market share to 80% and triple-digit revenue, Walter emphasizes the importance of recognizing tailwinds, maintaining execution discipline, and hiring A-players.

The conversation covers essential founder topics including the emotional toll of post-exit life, the dangers of confusing luck with genius, and how founders can keep grounded in a culture that glorifies hustle at all costs. He also contrasts the differences between venture-backed tech startups and private equity-targeted SMBs, offering practical guidance for founders navigating each path.

Whether you're Series A or scaling toward a strategic or PE exit, this episode offers a grounded, insider perspective that founder-CEOs won’t want to miss.

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.

Contact Information:

• Walter.Paulsen@VistageChair.com

• https://www.linkedin.com/in/walterpaulsen/