In this episode of The Entrepreneur's Voyage, Lynette Young sits down with Jack Hanks of Velocity Public Adjusting to discuss the "Selling Sea" - the phase of the 7Seas framework where business owners transition toward an exit or investment. Jack shares how they handled $240 million in claim by its third year and what it was really like to undergo 11 months of due diligence to close a deal.

• The Pivot to Private Equity: Why Jack chose to sell part of his company at 59, the importance of "taking chips off the table," and why his timeline would have been different at age 39.
• Accidental Branding: How "stupid 28-second videos" and rooftop selfies transformed VPA into the most recognizable large-loss public adjusting firm in the country.
• The Reality of PE Math: The "Billion Dollar" goal and the truth about payout structures—Jack explains that you don't get all the cash upfront; it's tied to equity and hitting an 11% annual growth target.
• The Industry "Algorithm": Why many PE firms struggle with the Public Adjusting industry (where cash flow can lag by 18 months) and how Jack created a data-driven model to make his business "investable."
• Founder Psychology: The difficulty of signing an employment agreement after years of being the boss and the necessity of hiring a "bumper team" (CFO, Law Firm, Sales Consultants) to manage the deal.
• Legacy vs. Lifestyle: Jack's 5-year plan to reach the "last rodeo" and his commitment to the non-profit sector through United Claims Professionals.

1. Run a Clean Show: Don't "BS" your books; professional investors will see through personal expenses and messy accounting.
2. Organize a Year Early: Start your legal and financial cleanup at least 12 months before you intend to talk to buyers.
3. Know Your Worth (Good or Bad): Don't get "butt-hurt" by the valuation. If the number is low, use it as a roadmap to build a better foundation.
4. Professionalism Matters: Avoid trashing competitors or carriers on social media. PE firms look for professional stewards, not loose cannons.

"I'm one of those - I don't have a lot of fear. I'm usually 'let's just jump out of the airplane and figure this shit out as we go.'" - Jack Hanks

"A good deal is when everybody's a little butt-hurt when it's all done... We didn't get everything we wanted, they didn't get everything they wanted, but at the end of the day, we're friends." - Jack Hanks

CONNECT WITH LYNETTE

• Website: https://7seasvoyage.com
• LinkedIn: https://linkedin.com/in/lynetteyoung
• Instagram: @LynetteVYoung

ABOUT THE ENTREPRENEUR'S VOYAGE

The Entrepreneur's Voyage helps values-driven business owners navigate the predictable seas of entrepreneurship using the 7Seas Framework. Whether you're starting, soaring, stalling, or shifting, this podcast provides practical strategies for building a business that honors both profit and purpose.

If this episode resonated with you, subscribe and leave a review. Your feedback helps other entrepreneurs find this resource.

#TheEntrepreneursVoyage #7SeasFramework #StallingSea #BusinessGrowth