Could your business structure quietly cost you millions when you sell?

In this solo episode, Rob Walling answers listener questions about when QSBS might justify a C Corp (vs. staying an S Corp or LLC), why SaaS exits are often discussed in ARR multiples rather than EBITDA, and how the profitability/growth tradeoff impacts valuation. He also shares thoughts on GMV-based pricing and where developers can learn practical, non-fluffy marketing skills.

Episode Sponsors:

This episode is brought to you by Mercury

Mercury is the banking solution I use across my businesses, from my personal single-member LLC to MicroConf and TinySeed.

Traditional banking forces you to duct-tape tools together and work around slow, clunky processes. Mercury gives me a clean dashboard that shows exactly where each business stands at a glance.

The interface is simple enough for daily banking and paying invoices, but powerful enough to handle multi-step approval workflows for large transfers.

There's a reason more than 300,000 entrepreneurs have made the switch. It's free to get started with no in-person visits and no minimum balance.

Apply online in minutes at mercury.com.

Mercury is a fintech company, not an FDIC-insured bank. Banking services provided through Choice Financial Group and Column N.A., Members FDIC.

If you’ve got a strong vision but no technical partner, you need more than a “vibe-coded” MVP, you need a real foundation.

That’s where Designli comes in. Their two-week SolutionLab Prototyping Sprint pairs you with a product owner, designer, and developer to turn your idea into a beautiful, clickable prototype you’ll be proud to show investors or early users.

Right now, Startups for the Rest of Us listeners get $3,800 off their sprint. Get started at designli.co/fortherestofus

Topics we cover:

(3:30) – How the QSBS tax benefit can save you millions
(7:40) – C Corp vs. S Corp: which structure makes sense for founders
(9:39) – Why ARR multiples matter more than EBITDA in SaaS
(13:13) – Profitability as a drain on growth
(16:44) – Should co-founders join the same mastermind?
(18:08) – How to leverage GMV-based pricing in SaaS
(21:43) – The best way for developers to learn real marketing skills
(30:37) – Why every founder should master sales and marketing early

Links from the Show:

TinySeed Applications Live Q&A - February 11th, 10:00 AM EST
Apply to TinySeed - Applications are until Feb 17th, 2026
The SaaS Playbook by Rob Walling
MicroConf - Community for SaaS Founders
Conversion Factory
TinySeed Mentors
Rob Walling on X (@robwalling)

If you have questions about starting or scaling a software business that you’d like for us to cover, please submit your question for an upcoming episode. We’d love to hear from you!

Subscribe & Review:

Episode 819 | QSBS, Exit Multiples, How to Learn Marketing, and More Listener Questions (Rob Solo)

Startups For the Rest of Us