Selling a business you built over 20 years takes more than a good balance sheet — it takes the right mentors, the right timing, and the mental readiness to let go. In this episode of The M&A Mastermind Podcast, host Nick Olsen sits down with Catherine Lang-Cline, longtime CEO of Portfolio Creative and five-time Columbus “Most Admired CEO,” to unpack how she prepared her lower middle market business for sale, when to bring her team into the process, how she chose the right M&A advisor and buyer, and the mental side of stepping away from a company that was tied to her identity.
In This Episode, You’ll Learn:
- Why Catherine started thinking about an exit years before she actually sold
- How she made her company “pretty” for buyers by removing herself from day-to-day operations
- The mentor’s advice that shaped her entire exit strategy — and what could have gone wrong without it
- Why she waited until the very last minute to tell her team about the sale
- How to vet and choose the right M&A advisory team
- What mattered most in the deal beyond the purchase price
- How she evaluated strategic vs. financial buyers
- Why having multiple offers changed her negotiating position
- The mental and identity challenges of stepping away from a business you built
- Her advice for lower middle market business owners considering a future sale
Timestamps:
- 0:00 – Introduction: Meet Catherine Lang-Cline
- 1:29 – From Artist to Agency Founder: Building Portfolio Creative
- 2:55 – Deciding to Sell After 20 Years
- 4:13 – Preparing the Business to Run Without the Owner
- 5:09 – The Exit Advice That Changed Everything
- 6:16 – What Could Have Gone Wrong Without Preparation
- 7:57 – Unsolicited Offers and the Danger of Undervaluing Your Business
- 9:41 – When (and Why) to Tell Your Team About a Sale
- 11:21 – Why Her Financial Advisor Was the First Call
- 14:00 – The Tipping Point and the Business Partner Pact
- 15:47 – The Mental Side of Letting Go
- 16:59 – Identity, Legacy, and Writing the Book
- 18:19 – Choosing the Right M&A Advisory Team
- 20:15 – What Mattered Most Beyond the Price Tag
- 22:40 – Strategic vs. Financial Buyers
- 24:24 – Why Having Multiple Offers Matters
- 25:53 – Advice for Business Owners Considering a Sale
- 29:49 – Her Book: The Rules of the Game for Women in Business
- 33:35 – Closing Thoughts and Where to Find the Book
About the Guest:
Catherine Lang-Cline is the former co-founder and longtime CEO of Portfolio Creative, a Columbus-based marketing and advertising staffing firm she led for 20 years and ultimately sold. She was named Columbus CEO’s “Most Admired CEO” five years running and has been honored on the Inc. 500/5000 fastest-growing companies list six times. Today, through Catherine Lang-Cline, LLC, she speaks and writes on navigating business as a female entrepreneur, including through her book, The Rules of the Game for Women in Business, and her podcast, The Secret Art of Business.
About the Show:
The M&A Mastermind Podcast provides actionable insights and effective strategies tailored for dealmakers in the lower middle market. Hosted by Nick Olsen, the show features conversations with leading industry experts who share valuable knowledge on topics such as industry intelligence, deal management, collaborative successes, and specialized expertise. Listeners who support small to medium-sized business owners will find practical tactics and advice they can immediately apply to advance their mastery in mergers and acquisitions.
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Resources & Links:
Catherine Lang-Cline LinkedIn
Catherine Lang-Cline’s Website & Book
Nick Olsen LinkedIn
Cornerstone International Alliance
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