Matt Hullander has built, scaled, and sold businesses in Chattanooga for years. He’s a serial entrepreneur, an author, and a former mayoral candidate. On this episode of the Spectruss Speakeasy Podcast, he sat down with us for an honest conversation about what it actually takes to grow a company, sell it well, and figure out what comes next.
This recap covers the business takeaways from the episode. The short version: most owners undervalue their company, walk away from money on the table, and underestimate how much advisors change the outcome of a sale. If you’re thinking about an exit (now or ten years from now), the lessons here are worth the listen.
Only a fraction of business owners have a documented transition plan, even though most of their net worth is tied up in the company. Matt’s story is a real-world look at why that gap matters.
What does Matt Hullander do?
Matt is a Chattanooga-based entrepreneur who grew a family business, sold it, ran for mayor, and is now building again. He’s also the author of The Daily Climb, a book on entrepreneurship and family business succession. His perspective is unusual because he’s lived the full arc: founder, operator, seller, and post-exit builder, and he talks about all of it without polish.
That range is what made this conversation different. Most exit conversations are either celebratory or cautionary. Matt’s was practical.
Why does selling a business go wrong for most owners?
The biggest takeaway from the episode is that owners often anchor to the wrong number. They have a price in their head, often based on a multiple of revenue or what a friend sold for, and they negotiate against that ceiling.
Matt’s deal grew significantly once advisors got involved. The advisors didn’t just negotiate harder. They reframed what the business was actually worth by surfacing assets, contracts, and growth potential the owner had stopped seeing as valuable. Owners get used to their business. Buyers see it fresh.
A useful way to think about it: selling your business without an advisor is like listing your own house with no agent and no appraisal. You might get a buyer. You probably won’t get the right price.
How much do advisors actually impact a sale price?
This is where Matt got specific. He shared that working with the right advisors during his sale process meaningfully increased the final deal size. Not by a few percent. By a number large enough to change his family’s financial future.
The lesson he kept returning to: the cost of advisors is small compared to the upside they unlock. Most owners try to save the fee and lose far more on the back end.
If you’re a founder who thinks you’ll handle the sale yourself, this section of the episode is the one to listen to twice.
What did Matt say about Chattanooga as a place to build?
Matt is bullish on Chattanooga. He talked about the city’s quiet shift into a builder’s market, the access to capital and mentorship that didn’t exist a decade ago, and the network effects of a tight local business community.
His point: you don’t have to be in Austin, Nashville, or Miami to build something serious. Chattanooga has the talent, the cost structure, and the support system. The city has been undervalued the same way many of its businesses are.
What should founders take away from this episode?
A few practical things stood out.
Get your books in order years before you plan to sell. Buyers pay more for clarity. Mess discounts your price.
Build a relationship with an advisor early, not the week you decide to sell. The good ones help you grow the business toward a higher valuation, not just close a transaction.
Don’t wait until you’re ready to step back to think about identity. Matt was open about the fact that selling a business changes how you see yourself, and the founders who navigate that part well are the ones who started thinking about it before the deal closed.
About Spectruss
Spectruss is a full-service marketing and advertising agency based in Chattanooga, TN. We provide Fractional CMO leadership and hands-on execution for service-based businesses looking to grow.
About Spectruss Speakeasy
The Spectruss Speakeasy podcast features conversations with leaders, entrepreneurs, and people doing interesting things in business and life. Listen to all the episodes here.
Frequently Asked Questions
Where can I listen to the full episode? The full Spectruss Speakeasy Podcast episode with Matt Hullander is available on Spotify, Apple Podcasts, and YouTube.
What is the Spectruss Speakeasy Podcast about? The Speakeasy is a Chattanooga-based business podcast featuring honest conversations with founders, operators, and creative leaders. New episodes drop monthly.
Is this episode helpful for someone not planning to sell their business? Yes. The conversation covers business growth, advisor relationships, and local entrepreneurship, all of which apply whether or not you ever plan to exit.
How long is the full episode? The full episode runs about an hour. Worth the time if you’re a founder, operator, or anyone curious about the realities of building in Chattanooga.
