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15 Jun 2022
Ep.1 - Scaling to a £100m ARR business and successfully exiting
Mark Mills was- as he refers to it himself ‘one of those annoying kids at school, who started businesses buying and selling stuff - and he’s been building them ever since.
But there were several failures along the way.
Listen to him talk about the opportunity he had back in 1999 to open the first franchise for Starbucks in Europe - and why he turned it down! He admitted that wasn't his best decision - but he's done OK since then.
He eventually started a business and grew it to over £100m in annual revenue and £20m in profits - before selling out for a life-changing sum.
Mark shares his thoughts on the importance of understanding and applying your business model - and his 5-point model to maximise your success and business value.
He also reveals his 40-point checklist to prepare for business exit and ensure you significantly increase the value of your business.
Mark now advises other business owners on how to scale towards a successful business sale and drops golden nuggets of knowledge throughout this inspired conversation.
I hope you enjoy episode number one.
Ladies and gentlemen, I give you Mr Mark Mills.
Mark has kindly agreed to send a signed copy to the first 10 listeners of the podcast to go to Apple podcasts and leave us a 5-start review. (see the book HERE)
If you want to secure yours, write the review, take a screenshot and email it to me at alan@entrepreneurtransition.com and give me your postal address and we will have your personal copy mailed to you.
From the outside looking in, the life of an entrepreneur seems exciting and fun.
Starting a business and growing it towards a successful exit appears to be fairly straightforward. However the statistics confirm that very few ever manage to do that.
Nigel Shanahan is an extraordinary entrepreneur. Through tremendous ups and downs, he grew his tech startup to a £50m exit.
Coming from a fairly traditional corporate role, he had the seed of an idea and wanted to ride the wave of the then-new mobile phone technology.
So despite being married with two young children he took the entrepreneurial leap into starting his own business.
The went on a 20-year journey that involved him getting private equity backing, a fairly brutal experience and then buying the business back from them and pivoting with a refreshed strategy.
Nigel shares his thoughts on business mentors, on the importance of creating a future vision and looking after and taking your team with you.
He also candidly shares some of the regrets he’s had and things he'd do differently if he had his time again.
Nigel is quite understated but some aspects of his journey confirm that he is a man of great courage.
This is a masterclass in what it takes to be an entrepreneur and take an idea to a successful conclusion despite all the inevitable challenges.
For this episode, we go to the Emerald Isle to speak with a serial entrepreneur from Ireland called Donal Daly.
A self-confessed tech geek, he founded, scaled and sold 5 companies and is now on his 6th, most, the most exciting, and certainly on a personal basis the most rewarding.
Over his 30-year entrepreneurial journey, he’s bootstrapped his start-ups, he’s raised external funding, and he’s bought a business from one of the biggest tech companies in the world.
He’s gone on to exit to different types of buyers including to the team via Management Buy Outs - MBOs.
Donal shares his views on what a founder should focus on, the importance of creating a nurturing environment for your team and also of Imposter Syndrome.
It’s rare to meet someone who has this range of experience and you will certainly learn something from him - I give you Mr Donal Daly
My name is Alan Smith and I’m a founder, entrepreneur, investor, wealth manager and yes now a podcast host!
Over nearly 20 years, my team and I have established our business, Capital Asset Management as the leading independent wealth advice business in the UK, focused on working with successful business owners.
In that time, I’ve worked with hundreds of founders and have always been fascinated by their entrepreneurial journey and what’s got them to where they are today. I wanted to create a place where great content is available to help the current and future generations of business owners navigate their own journeys and learn from those that have gone before them.
If you want to listen to be educated, entertained and inspired by outstanding entrepreneurs and the people who support them, you have come to the right place.
Tom Manwaring is at the top of his game. He’s the leading Mergers & Acquisition advisor in the UK focused on the media sector and in particular television production companies.
He’s advised hundreds of owners and completed almost 50 deals (including 13 in the last 2 years which is some going considering what’s been going on). The combined sale value is in excess of £1 billion so he’s definitely someone worth listening to.
You’ll have watched many of the shows created by the businesses that he’s sold - they're as diverse as Paddington Bear, Sex Education, Normal People and David Attenborough's Perfect Planet.
If you’re a business owner in the television sector and you’re thinking of selling, you’ve probably already got Tom on speed dial.
But regardless of what type of business you’re in, this episode is an education in the art and science of creating a successful business exit.
Wherever you are on your own journey, you’ll find lots of practical takeaways and actionable advice.
Please enjoy - ladies and gentlemen, I give you Mr Tom Manwaring.
From a council estate in Hackney, London to an ‘8-figure exit’ by age 27. The most inspirational founder conversation you will hear in a long time.
I’ve met a lot of entrepreneurs over the years but few are as impressive as Tim Armoo - or Timo as he’s better known. He knew he didn’t want to be poor and decided from an early age that being an entrepreneur and starting his own business was the way to create his own financial security.
He started his first business while still at school before founding Fanbytes, aged 21 and at University. The business was built from day one to be sold. Timo was highly intentional about designing a company attractive for potential acquirers and shares the exact steps he took to secure a life-changing exit.
So much positive energy, wisdom and intelligent thinking from one of the UK’s smartest young entrepreneurs.
This Inspired Conversation is in many ways why I launched the podcast in the first place - to explore the human side of the entrepreneurial journey, every bit as much as the financial side.
Let me share a quick true story to give you some context:
Did you hear about the entrepreneur who sold his business and made a fortune and was miserable?
Markus Persson is a Swedish tech entrepreneur and inventor of the wildly popular game Minecraft.
Starting on a laptop in his bedroom, he went on to grow the company until Microsoft made him an offer to buy the company for $2.5billion from which he personally received $1 billion.
He became a billionaire overnight. And that’s when his problems started.
Sometime after completing the deal, he sent out a series of increasingly desperate tweets,
One said
“Hanging out with a bunch of friends and partying with famous people, able to do whatever I want, and I’ve never felt more isolated”
And another one;
“The problem with getting everything is you run out of reasons to keep trying, and human interaction becomes impossible due to imbalance”
Sudden Money Syndrome
He was suffering from something called Sudden Wealth or Sudden Money Syndrome, and before you say, ” I wish I had his problems; it must be so hard being a billionaire!'” you need to realise that it can be absolutely devastating for some people.
Investopedia (Wikipedia of money) describes it as: “A type of distress that afflicts individuals who suddenly come into large sums of money.
Becoming suddenly wealthy can cause people to make decisions they might not have otherwise made.
Symptoms include feeling isolated from former friends, feeling guilty about your good fortune, and extreme fear of losing your money.”
In my day job working with successful founders and entrepreneurs I’ve seen this play out first hand and it can be a real challenge.
That's why I was so keen to invite Susan Bradley onto the podcast.
Susan’s the founder of the Sudden Money Institute and she’s written 2 books on the subject.
She’s also been advising her clients and other professionals for many years on this vital and deeply complex area.
In this wide-ranging conversation, Susan talks about;
The importance of thinking deeply and preparing well for the transition a long time in advance - years, not weeks and months.
Considering the family dynamics between spouses/ and children and how to communicate well including creating your own “Bliss List”.
Why it’s vital to create a “Brains Trust” and specifically, a “Thinking Partner” who can act as an independent Trusted Adviser to help you navigate the journey
This is not a fluffy conversation, it’s full of practical advice and specific steps to take before, during and after a business sale or retirement and major life transition.
So if you have the ambition to exit your business successfully on a personal basis as well as a financial one you will get a lot out of today’s conversation.
Hi and welcome back to the Entrepreneur Transition podcast - the only podcast that explores the uniquely human journey involved in building a business, selling it and crucially, life on the other side.
In 20 years of working with and advising entrepreneurs, I’ve come to realise that it’s a transition more than it is a transaction and there are so many issues and challenges that a business owner will have to navigate to maximise their success from a financial but more importantly from a human and lifestyle viewpoint.
No one epitomises this more than my guest today, Mike Ames.
Mike built a recruitment business to £40m turnover before selling for a life-changing sum of money, before going on to help build another business to £24m turnover and selling that.
However, as he very candidly explains, after he sold his first business and become fabulously wealthy, he went to a dark place - and really struggled with his own identity and purpose.
His advice on this aspect alone is worth every minute of your time listening.
In a wide-ranging conversation Mike also shares his thoughts on:
The difference between building a lifestyle//cash cow business or a ‘scale for sale’ type of business and why it’s essential to know which one you’re running
The importance of preparing for life after your exit and your relationship with friends, family as well as with yourself
Shares some practical insights on how to invest your sale proceeds to ensure the right balance
And towards the end, Mike provides a neat 5-point summary of what it means to have real wealth.
This is one of the most candid and inspiring conversations you will hear in a long time.
Richard Bridgwood was the founder of Contender which was a media and film distribution company which he and his team built from scratch over 12 years and sold to one of the biggest entertainment and media companies in the world, Entertainment One.
If you’ve got kids, you’ll be familiar with one of his companies’ creations, Peppa Pig which nowadays is a global sensation worth hundreds of millions if not a billion dollars. There’s a lot of money in children’s entertainment!
So, part of Richard’s current business legacy is helping bring Peppa Pig to life and so many hours of joy to countless preschool kids - and their grateful parents!
Richard is a lovely guy, very down-to-earth and very honest as he reflects back on his entrepreneurial journey and the lessons he’s learned.
The key lessons I picked up include:
Why the current tax regime favours building a business to sell from the outset.
The importance of communicating with your team and keeping them informed of key business decisions - although it can still backfire in some instances.
How Bill Gates forced Contender to change their business focus and quickly pivot in response to emerging new technology which threatened to blow up their core business model
The vital importance of taking time out whilst you are running your business to plan for life after you exit - and his admission that he didn’t do this particularly well. This is an emerging theme in my podcast conversations, and I think it’s so important and so we’ll be coming back to this in future episodes
Richard’s 3-part formula for experiencing True Wealth.
Don Fraser is something of a legend in the financial planning and wealth management sector – he’s been working with entrepreneurs for well over 30 years and he’s got a deep understanding of not only the financial issues but perhaps more importantly the personal and human ones.
During our conversation, Don explains the vital importance of timing when you’re planning your exit, and the need to be clear on the big question - How Much is Enough?
He explains the actual process that a business owner would go through during the sale transaction and then goes on to share some essential advice for what you should do and essentially what you should definitely not do in the 6 to 12 months after you have exited your business.
He also explains his unique three-part formula to ensure a successful outcome over the short medium and longer term.
Finally, he shares his recommendations for resources and essential reading for any business owner who is a few years away from their business sale.
Full disclosure, Don is a colleague of mine and we’ve worked together for many years.
He’s taught me more than anyone else I know about how to manage and support the unique challenges faced by business owners as they go through this business and life transition.
You’re going to enjoy this one - ladies and gentlemen I give you Mr Don Fraser
(PS this episode was recorded some time ago and I think I’ve improved as an interviewer since then) :-).
I think one of the reasons that this podcast is proving to be popular is that most of the stories follow that classic ‘Hero's Journey’’ narrative arc.
Our hero, the Founder is dissatisfied with the status quo of their current situation, sets off on a bold journey of discovery - starts a company, and faces insurmountable problems, huge challenges and fierce obstacles.
Eventually against all the odds, finds success and lives happily ever after!
If you watch almost any Hollywood film or Pixar movie, you'll see a version of this story unfold broadly along these lines.
And today’s real-life story begins by following the classic Hero's Journey - but there's a definite twist in the tail.
My guest, Neil Simpson is well known in the creative advertising sector and founded a leading agency called The Corner.
With his business partners, he built the company into one of the top independent agencies in the country and so, inevitably buyers came knocking on his door.
After one or two interesting but ultimately unsuccessful engagements Neil and his partners agreed to proceed with the sale of their business to a larger corporate.
What's interesting and I think is a huge lesson for independently-minded entrepreneurs is recognising that life after a sale, especially if you’re locked into an earn-out over several years can be a challenge.
The fact that you're no longer that creative, entrepreneurial fast-moving business and are now a cog in a much larger wheel may not be to your liking.
This conversation is packed with words of wisdom from someone who's pretty much done it all from working in, and ultimately leading, large multinational companies, to setting up and growing his own business, not once but twice, before selling and… well, you’ll have to listen to hear the full story - it’s quite a tale.
If you're a business owner or advise and consult with business owners, giving 60 minutes of your time to listen to the conversation will be the best investment you make this week.
Every now and again you hear a story that stops you in your tracks because it deeply touches a part of you whilst at the same time is uplifting and inspiring.
Stefan Wissenbach is a serial entrepreneur and has built and sold 4 financial services businesses before launching his current company which is a technology business focused on helping entrepreneurs to create more engaged teams.
He has also coached numerous business owners and helped them to define what success means to them and then went on to help them to achieve that success.
During our conversation, Stefan covered the vital importance for every business owner to get clear on their Magic Number and explains exactly what it is.
He shares a process taught to him by the legendary business coach Michael Gerber that helped him get clear on his Vision and Purpose - and how you can do it too.
He also explains the immense value he has had in working with a world-class business coach for almost 20 years.
By any measure, Stefan has enjoyed significant financial and professional success but sadly tragedy struck his family in 2019 when his precious 25-year-old son, Oli died on the first day of a family holiday.
Just listening to Stefan share the story of what happened that day, I confess to getting quite emotional - regardless of any kind of business success that is surely every parent’s worst nightmare.
However, what’s truly inspirational is that Stefan and his family have used the tragedy as a platform for good. They have published a book and are in the process of building 100 schools around the world in Oli’s name.
This conversation will energise you, it will sadden you, make you reflective and ultimately will inspire you.
You will be glad you listened to it, I promise you that.
Without further ado, I give you Mr Stefan Wissenbach.
Key Moments
- The vital importance for every entrepreneur to understand their Magic Number.
- The reflective process that will help you get clear on your own Vision and Purpose
- The inspiring conversation that led to Stefan creating his MTP - Massively Transformative Purpose
According to the Department of Business and Industry, there are 5.6 million businesses in the UK.
But get this - out of the 5.6 million businesses, 4.2 million had no employees - they are sole traders.
And 99.2% of all businesses have less than 49 employees.
Only 4% of businesses ever hit £1m turnover.
And yet, SMEs account for three-fifths of all employment and around half of the turnover in the UK private sector.
Last year total employment in SMEs was 16.3 million (61% of the total), whilst turnover was estimated at £2.3 trillion (52%)
There are millions of one-person armies and small companies, and they make a massive impact on the nation’s economy.
Now it’s fair to say that my conversations with founders so far on the podcast have focussed on the larger company end in terms of turnover and valuation and so it was time to address this.
My guest is Mark Telford. Mark is a business owner, he is a practising Chartered Accountant who advises business owners and because that doesn't keep him busy enough, he also coaches other accountants on growing their own practices.
Mark’s clients are in the main smaller business from sole traders working within their own Ltd company to larger owner-managed firms.
As an accountant Mark takes a refreshing approach in that he not only keeps his clients' tax efficient and compliant but also coaches business owners to utilise their companies to help them create their ideal lifestyle.
During our conversation, Mark explains the difference between a lifestyle business and what he calls a performance business and why it’s vital to know which one you are.
He shares his 7-point checklist to create massive value in your business so that it could be sold for a meaningful amount of money.
He also explains the importance of doing your due diligence on any potential buyer to avoid the tough situation one of his clients experienced.
If you’re a sole trader - one man or one-woman army or you own a small business and are considering your future and the right direction of travel, then this conversation is for you.
First, I’m speaking with two co-founders, Damian Milkins and Simon Hancock who built a hugely successful tech business called Control Circle and led it to a $65m exit.
I let this one run longer than the usual 60 minutes because the guys were in full flow and there was no way I was going to cut this short - there were just too many interesting stories and valuable words of wisdom.
What you’ll hear is Damian and Simon explaining the vital importance of working with a co-founder who has different, but complementary strengths and how that was the secret sauce that drove much of their success.
They also discuss how they incentivised their entire team through share options and the life-changing impact that had on many of their colleagues, from the most junior all the way up to the C Suite.
And towards the end, Damian shares a passionate message about all the things that founders focus on when they start up a business and why it’s a complete waste of time.
He also explains what you should focus on!
This episode is simply a goldmine of inspired ideas learned at the front line of entrepreneurship.
Ladies and Gentlemen, I give you Damian Milkins and Simon Hancock
I attended a conference run by a friend of mine Andy Hart called Humans Under Management - it focuses on the behavioural side of wealth and is one of the best financial or business conferences out there.
I did a little fireside chat thing on stage but while I was at the event, I had quite a few people who came up to me and told me that they enjoyed the podcast and I even had one guy explain that it had helped him with a client who was currently going through a £10m exit.
We all enjoy getting feedback, especially when it's positive because it confirms that we’re creating value and are on the right track.
On that theme, if you’re a regular listener and you haven’t done so, I would appreciate a quick 5-star review on the Apple podcast platform if you get a chance - it makes a big difference.
Now - So, we’ve arrived at Episode 14, and I’m really pleased with how this conversation turned out, mainly because of what’s going on in the world right now.
All the signs are that we’re about to enter a recession, interest rates are going up, inflation is through the roof, and companies are laying off staff. It’s a tough time for any entrepreneur.
And yet the list of companies that were started in a recession is astounding.
Apple, Disney, Microsoft, IBM and many more - all began life in the depths of a recession.
Richard Branson has often said that it’s a great time to start a business and if you can survive when things are tough you have a far better chance of long-term success.
My guest today would agree with that.
Dickie Burrows did not thrive at school and has never forgotten the words of his Deputy Headmaster who said ‘I think you’re wasting your time here; you’re certainly wasting ours” and asked him to leave.
And so began Dickie’s career in the foreign exchange desks of some of the world’s leading banks - based in the City of London.
All was going well for many years until his employer, as they often did - decided that Dickie was getting a little too long in the tooth and showed him through to the departure lounge - his words, not mine.
At the time, Dickie was married with 3 kids and so describes himself as a ‘needs must entrepreneur’ - if no one was going to give him a job he would have to give himself one and so started City Forex.
During our conversation, Dickie explains:
The vital importance of being on the same page as your co-founders in terms of the type of business you’re trying to build - he didn’t do that, and it caused some serious issues.
He shares how impactful it was to be intentional about building a strong business network - potential clients, customers, staff and ultimately, potential buyers
And he discusses how one particular recruit, an accountant with M&A experience made all the difference when the time came to begin the sales process.
Dickie had 3 serious attempts at selling his business - one of which was blown up by a surprising little event that happened on 23rd June 2016 - called BREXIT.
So, his experiences are reflective of current times - there will be challenges, there will be surprises but with focus and determination you can build a company and you can sell it to the right buyer for the right price at the right time.
There are so many lessons here for business owners during challenging times
Ladies and gentlemen, I give you Mr Dickie Burrows.
Let me start by sharing a statistic that’s quite shocking- less than 2% of Venture Capital funding goes to all female founder teams. So those female founders who’ve managed to get started, and raise some capital are rare in the extreme.
Those who’ve done it multiple times and had successful exits are even rarer - so Louise really is something special.
A born entrepreneur who started working in her father’s store as a schoolgirl and then after college started her own business using a car loan - shhh don’t tell the bank that she started a company instead of buying a car!
She went to grow her first start-up and successfully sold it several years later - and then did it all over again in a different company, funded with bank loans and through private investors.
That second business was scaled successfully and sold earlier this year - and guess what?
She’s going again with a new start-up which looks like it could be the most successful of all her companies.
She did all this whilst raising a family and even doing a master’s degree in her spare time -
Superwoman has nothing on Louise!
The three lessons I learned from our conversation are:
Always be networking - Louise puts a lot of her success down to good old-fashioned face-to-face networking. Getting out to meetings, conferences, and coffee catch ups. Asking questions and sharing ideas.
Build a 10-slide pitch deck - this is your calling card and you share it with anyone who may be interested. It’s a snapshot of the business and your credentials and summarises why your business is the best at what it does and why people would want to invest or become a client.
The power of PR - Louise managed to get a slot on radio explaining what her company does and she won several huge client contracts as a direct result. She is a huge fan of sharing your message, using TV, radio and social media to let people know who you are and what you do.
I’m so pleased to have Louise on the show, and I hope she’ll inspire other entrepreneurs, especially female founders to build their businesses and make an impact in the world as Louise has surely done.
This is a special episode as it’s the last episode of Season 1 and so we’ve put together a compilation of the greatest hits covering some of the key ideas, insights, and themes that have emerged from the 15 conversations I’ve had so far.
In this episode, you’ll find the best comments, quotes and thoughts from the world-class entrepreneurs and experts I’ve spoken with over the last 6 months.
The subtitle of the podcast is "Inspired Conversations" and obviously, I'm biased, but as I’ve reflected on the series of interviews, I do think we’ve delivered on that claim.
I’ve spoken with successful founders, some of who’ve had one sale and exit. And others who’ve had multiple exits.
My conversations have taken me across the UK, Ireland and the United States.
I’ve spoken with men, I've spoken with women.
I've spoken with entrepreneurs who started their businesses when they were in their teens and those who launched their first company in their 50s.
Across the episodes, there is a combined exit sale value well in excess of £1 billion.
I’ve also spoken with some of the top experts who provide advice to the founders - a leader in M&A and corporate finance, a specialist accountant and a veteran wealth manager who’s been advising business owners for over three decades.
So what we have here is an Entrepreneur’s Exit Planning Playbook - 15 hours of detailed conversations revealing the lessons learned and the words of wisdom of those who have walked the walk and, during our discussions, have certainly talked the talk.
You’ll learn about:
Do you build a company with a sale and exit in mind from day one - or do you just build a company and see what happens?
The importance of ensuring you’re on the same page as your co-founders.
Don’t waste time on unimportant things.
The vital importance of knowing your Magic Number.
Entrepreneurship is not for the faint-hearted - be prepared for sacrifice and hard work.
Do your homework on your acquirer.
Hire a professional who can help you secure the best deal.
Network like crazy.
Life after your business sale/exit.
Thank you for all your support - please subscribe and leave a 5-star review.
I’ve described this podcast as being ‘inspired conversations at the intersection of money, business, family, and life’ and none better sum up that complex blend than the one I had recently with Brian Portnoy.
Brian is a coach, consultant, entrepreneur, and author of one of the best books I’ve ever read on all things financial and our behaviour around money. - The Geometry of Wealth.
A recent study confirmed that 73% of people say money is the most stressful factor in life - more stressful than death, politics, or religion - and it’s either the first or second most important issue behind divorce.
As a business owner, you're going to be dealing with money issues every day and if you do have a liquidity event through a business sale or external investment then you need a playbook to help you manage the issues.
This conversation is a highly practical source to help you navigate the uncertain terrain ahead. During the interview, Brian explains:
How to define true wealth and how you can define it for yourself
A 3-step mental model to help you build a path to achieve it
How to consider the question How Much is Enough?
And towards the end of the conversation, he provides a detailed breakdown of a process that every business owner must undertake way before they sell their business or retire - don’t miss that, it’s pure gold.
Robin is a journalist at the Financial Times and is the editor of the popular column Alphaville.
He’s also the author of a fabulous new book called Trillions.
As a business owner, one thing is certain - you’re going to leave your business one day. Whether that’s through a sale of the company or through retirement and you’re going to need to know how to best invest your capital to provide for your family’s long-term future.
This conversation with Robin will provide you with clear directions as to how to stack the odds in your favour and give yourself the highest probability of financial success.
Amongst other things we discuss
The rise of index investing and how the evidence in support of it is now overwhelming.
Warren Buffett’s famous bet with a Wall Street hedge fund manager.
His thoughts on crypto and bitcoin - well worth listening to.
And towards the end of the conversation, he explains exactly what he would do if he were a successful entrepreneur looking to invest the proceeds of a business sale or retirement fund.
Robin spends most of his time studying and writing about the markets and the players that participate in them. That’s some insight that you don't want to miss.
As we kick off Season 2 of the podcast, I’m taking the opportunity to share a little of my own journey, both personal and professional.
For most of us, our childhood experiences shape our thoughts and actions as we get older and I’m no exception. A happy childhood in Scotland was interrupted by some personal and family challenges that have been influential on me and the decisions I’ve taken.
A very average student who dropped out of college attracted to the bright lights and big city of London, I could be described as an ‘accidental entrepreneur’.
I love hosting this podcast and I hope you get value out of listening to it.
Get in touch to give me feedback, ideas, and recommendations for future guests.
Welcome to the Bulletproof Entrepreneur - it’s great to have you along for the ride.
You've heard of a ‘horse whisperer’, perhaps a ‘dog whisperer’, but you’ve probably never heard of a ‘seller whisperer’ - but that’s exactly what Denise has become known as.
With a background as a mental health professional turned lawyer who went on to build her own legal practice, she then sold her business. Rather unsuccessfully, in her own words.
During this time, she learned a lot of lessons and has now carved out a role as a specialist adviser, coach, consultant, speaker, and writer on the complex subject of selling your business - the emotional journey as well as the business journey.
I've often referred to the content of this podcast as being at the intersection of business, money, family and life and, honestly, no one is better qualified to speak on that precise intersection than Denise.
One of the best storytellers you're ever likely to encounter, she is the author of an incredible book called The Seller’s Journey, which is essential reading for anyone who's building a business and anyone who advises business owners.
Denise reminds us that, whether you like it or not, you are leaving your business one day. It’s not ‘if’, it's ‘when’ - and the worst thing that you can do for yourself, your business, your employees and your family is to be unprepared.
In a wide-ranging conversation, we cover a lot of issues including.
What are the key attributes to look for in a trusted adviser and someone that will help you navigate the challenging process before, during and after the business sale?
Understanding something she calls “O-MY Syndrome” and how to avoid the hidden road bumps that will kill your deal.
A process to help you get clear on everything that your work currently provides for you - other than money and financial security. Understanding this and preparing for life after your sale is essential in ensuring a successful transition.
Towards the end, Denise shares a deeply personal story which will help you focus on what's truly important in your own life.
A wonderful conversation with a lady who's been there, seen it, done it and come out the other side - and now spends her life sharing her insights and wisdom with other entrepreneurs.
The links to her book, website and contact details are all in the show notes.
I’ve been following an anonymous account on Twitter for some time, and I’ve really enjoyed a lot of the content and thoughts shared on some of my favourite topics such as entrepreneurship, mergers & acquisitions, and intelligent investing.
The Twitter handle is an anonymous one - The Secret Accountant, but I can now officially reveal the identity of this mysterious business expert as being none other than Mr Craig Richardson.
There’s a good reason for the nom de plume which he explains during our conversation, but the headline relates to a new book that he recently published called "How Do You Really Sell Your Business" - which is obviously right in the sweet spot for you if you’re a bulletproof entrepreneur and a fan of this podcast.
And the good news is that to celebrate this episode, Craig AKA The Secret Accountant has slashed the price it sells for on Amazon for the next few weeks!
So, as soon as you’ve listened to this episode, jump over to Amazon, and grab your copy - the link is in the show notes.
Now Craig’s got an incredibly interesting back story. He’s been a poacher turned gamekeeper turned poacher again and is reluctant to call himself an entrepreneur – he says that if indeed he is an entrepreneur, he’s an accidental one!
He started by qualifying as a chartered accountant in the corporate finance team at KPMG and it was there that he caught the bug of working with founder owners. He just loved helping them grow their companies and plan a successful sale and exit.
But then came a change of strategy at KPMG and their desire to focus on bigger corporate clients. So, Craig decided to leave to be able to continue to work with SME business owners, which is where his passion always was.
Since then, he’s spent more than 20 years helping entrepreneurs successfully grow, improve, and sell their businesses and now runs his own company where he continues to advise, consult, and invest in companies and their owners.
I found it fascinating listening to him explain that the skills required to take a company from £1m to £5m turnover are different to those needed to take a company from £5m to £10m and then to £20m and above - some great insights wherever you are on that scale.
He also talks of the importance of what he calls the magical entrepreneurial dust that only a founder is capable of sprinkling over his company and why they should focus on this more than some of the more regular day-to-day roles
And as someone who's worked with business owners and continues to support them, he breaks down the key attributes which are essential in an ideal ‘Trusted Adviser’ relationship which is designed specifically for entrepreneurs.
Ladies and gentlemen, I give you Craig Richardson AKA The Secret Accountant
One of the original ideas behind the podcast was to create a repository of essential insights, experiences, and information. A knowledge hub that you can dip in and out of whenever you needed to be reminded of key issues throughout your business journey.
One thing is certain and that is that you’ll need to work with a lawyer at some point, and judging from conversations I’ve had with previous guests, understanding the role of a corporate lawyer, and finding a good one is a vital part of the process.
I’ve known today’s guest, James Crotty of Foot Anstey for a few years. I worked with him on a transaction where I was buying another wealth planning business a couple of years ago.
I got to know James and his team and found them to be supremely professional, of course, but equally as important, they were very human and recognized the emotional strain that owners are under as a transaction proceeds.
So, I was keen to get him on the podcast to share his experience and his wisdom.
What we have is a masterclass covering all the legal aspects involved in selling your businesses, - from before there’s even a deal on the table, right through to well after the sale has concluded and you're on to your next adventure.
James reveals his 8-step process, breaks it down in detail and outlines what to expect and how to prepare for the experience.
Towards the end, he explains a new service that he’s recently launched that, I believe every business owner who thinks they may sell at some point should look at.
The episode is a bit longer than the others, but there’s a lot involved in the legal process.
Exploring the essential legal information, you need to know before selling a business, ladies, and gentlemen I give you Mr. James Crotty.
Henry is the co-founder of the fast-food restaurant chain Leon with the unforgettable strapline ‘If God did fast food..’
From humble beginnings, with one small shop in Carnaby Street in London to a national and international brand which eventually sold for a reported £100 million Henry is undoubtedly a bulletproof entrepreneur.
During our conversation, he explained:
How they came up with the memorable name Leon and the vital importance of getting your business name right from the outset.
What he believes to be the two most important attributes that any entrepreneur must have to succeed .
The value of narrative and storytelling to help grow your media presence and generate new customers.
And as we were wrapping up the conversation, Henry provided us with one of the best definitions I've ever heard of what True Wealth really is.
His new book, "Ravenous," has just been published and is a seriously good read if you're interested in learning about our food system and how to optimise for maximum energy - something that every entrepreneur needs to do.
To celebrate the landmark 25th episode of the podcast, I was delighted to be able to speak with the Co-Founder and CEO of BrewDog, James Watt.
BrewDog is valued at over $1,500,000,000 and is one of the UK’s leading Unicorn companies... However, it’s been far from a smooth ride.
Having decided that a career as a lawyer ‘in a cheap suit doing glorified admin’ wasn't for him, he spent several years working on a North Atlantic fishing boat and that’s where a lot of his business resilience came from.
We discussed many areas of business but these stood out:
Marketing; He shares some incredible stories about the crazy stunts that BrewDog created to gain publicity. Some were wildly successful and some less so - but they all got tons of attention for the brand.
The value of constraints: He tells the story of their pitch to the TV show Dragon’s Den and what happened next. It’s a masterclass in creativity and how to use constraints to your advantage.
A powerful vision: James is crystal clear about his values and that of the company, the team and the community that they’ve created. And he doesn't hold back on defining the vision - total world domination!
James is a world-class storyteller, a rebel, a leader and undoubtedly a Bulletproof Entrepreneur.
You are going to love this conversation- ladies and gentlemen I give you Mr. James Watt.
Jodie and Jenny are cofounders of a hugely successful agency called The Marketing Pod, and 11 years ago they decided to tread that well-known entrepreneurial path, took a big risk and walked away from a comfortable corporate life to start their business.
Why? Because, as is often the case, they were frustrated that what they were looking for didn't exist, and they knew there was a demand.
They also wanted to create something that was more in line with their own lifestyles and that reflected their personal values and culture.
So many lessons and words of wisdom in our conversation, and plenty of encouragement to take the entrepreneurial leap and follow your passion. As they say ‘Life’s too short not to give it a go.’
We discussed the importance of finding great mentors and advisers - and why getting on a business accelerator or growth programme was such an important part of their success.
They explained why niching down and becoming known as the ‘go-to experts’ for a specific sector is essential and why most entrepreneurs struggle with that as they see shiny new opportunities everywhere that they have to say ‘no’ to - trust me I can relate to that one!
And the underlying secret of their success, which is all about the people and the culture in their business - easy to say, hard to do— which is why their advice is so helpful if you're building your own business.
You are going to get so much out of this conversation. Ladies and gentlemen, I give you the energy, positivity, and wise words of Jodie Williams and Jenny Hughes.
Today's guest is Jeremy Tobias Tarsh who is one of the original inspirations behind my launching this podcast.
Jeremy is happy to share that he’s been a client of our firm for many years and it was during one of our many deep-dive conversations about the complex challenges faced by him and other entrepreneurs that I thought I should launch something.
I told him that I would have loved to have recorded the long chats we had so others could benefit from his unique experiences.
Well, now we've done just that. During our conversation...
He explains the impact of growing up in an entrepreneurial family and one of the key lessons he learned early on from his Father was that in any business, there are only ever likely to be two or three key numbers to focus on, and the rest is detail. It’s vital to know your numbers.
He also shared his experience of not accepting a traditional multiple of profit as a valuation, but truly understanding the opportunity that owning his business would create for any potential buyer and the loss they faced if they didn't acquire it. On that basis, he was able to get an incredible valuation, which had little to do with an EBITDA number.
And in line with a theme that comes up regularly in my conversations, he candidly discusses the challenges he faced as an exited entrepreneur with plenty of money but with a loss of identity amongst his family, his friends and business colleagues. Wise words to learn from.
And towards the end, he shares a brief analogy of an egg timer - don’t miss it, quite profound.
Ladies and gentlemen, I give you Jeremy Tobias Tarsh
Unless you’ve been living in a cave for the last year, you’ll be all too aware of something called artificial intelligence.
AI’s not new, it’s been around for years, and you've probably been using applications like Alexa and Siri to tell you what the weather’s like, turn on your music, or even order a pizza.
But all of a sudden, the speed of innovation seems to have changed, and it's become a lot more serious and relevant to business owners.
I first heard of an application called Chat GPT at the beginning of the year, and within days my kids were using it to do their homework, and I tested it by having it help me write a few well-received blog posts.
But I’ve been scratching the surface of what’s now out there and the implications for anyone in business today.
This podcast was designed from the outset for business owners, aspiring entrepreneurs, and the people who advise and consult with them.
And so when something is about to hit the business world like a freight train, I thought it was essential to publish a one-off special AI-focused episode to unpack the threat and explore the opportunities.
Aalok Shukla is an expert in the world of artificial intelligence and, importantly, how it’s going to impact entrepreneurs and SMEs. During our conversation, he takes us on a whistle-stop tour of what to expect from the new technology.
This is not the time to put your head in the sand, this is a time to engage, to be curious, and to learn. To help you, Aaolok is running a workshop with Piers Linney, the ex-Dragon from Dragons Den who is very involved in AI and tech innovation, and I’m doing a presentation from the non-expert real-life business owner viewpoint.
I believe that you'll learn more in that one day than in a year of reading articles and browsing websites about AI.
You’ll also leave with a step-by-step actionable 90-day plan for your own business. Spaces are limited, so sign up now using my unique discount code for £149 off. - use the link below and the code ALAN.
In the meantime, talking about the AI revolution as applied to small businesses, ladies and gentlemen, I give you Mr. Aaolok Shukla.
My conversation this time is a little different and rather intriguing.
Ruth Sturkey spent her career advising entrepreneurs and executives about their big life transitions, such as selling their businesses and retiring.
And then was faced with planning her own business sale and retirement - or at least the next chapter of her life.
By her admission, and despite having advised clients for years, she admits she felt somewhat unprepared and is now happy to share her experiences so that others can learn.
In our wide-ranging conversation, she discussed how the serious illness of her business partner caused a 3-year exit plan to be reduced to 3 weeks and highlighted the importance of having your business risk plan in place to manage the unexpected.
She explains how we've got the concept of retirement all wrong, and why she’s had to learn the hard way how to do it well.
And she talks about life after the business sale, what she misses, and what she would do differently if she had her time again.
Some real nuggets of wisdom and profound insights which will be truly valuable to you.
And as someone who has spent several decades talking to wealthy clients, listen to her description of true wealth - its a lot of fun.
If you've enjoyed the podcast, I'd really appreciate it if you could jump onto the Apple platform (even if you don't usually use it for your podcasts) and leave a 5-star review and a few positive words.
And also, be sure to subscribe to the podcast - it really helps us spread the word and is much appreciated.
But now, stand by to learn from someone who can share her experience from both sides of the table - as an adviser to entrepreneurs and then as a successfully exited entrepreneur herself - ladies and gentlemen, I give you Ruth Sturkey...
Ian is an entrepreneur who built and, after 7 years, sold a highly successful marketing agency for £23 million.
In this episode, he shares the lessons learned on his journey so far.
Ian had a postcard on the wall beside his desk at his first job with 2 words on it - “Question Everything” - and he’s lived his life by that mantra ever since.
A deep thinking entrepreneur who has always challenged conventional thinking, and so I let the tape run as he was sharing so much wisdom.
You’re going to learn:
The importance of finding a co-founder with complementary skills to your own and where, as Ian says, 1 + 1 = 3 otherwise you're wasting your time.
His unique view on how to build a business and win new clients - a core skill for any successful company but particularly one that has the ambition to scale up.
The value of spending time with your business advocates and partners, sharing your story explaining your future plans and vision - and it was this that eventually led to the sale of the company to a PLC.
Towards the end of our conversation, Ian explains the importance of challenging conventional thinking particularly when it comes to pricing your services. This is a subject that we've done a lot of work on in my business and one that every entrepreneur should reflect on.
Bob has enjoyed 100% launch success returning over $1 billion to his investors. He’s founded six companies, sold four and is still running two.
He’s grown two startups to $100m and $156m in sales in 5 years and 3 years respectively.
During our conversation, Bob explains
The vital importance of having a crystal clear vision for your company and what the 11 elements of a successful vision are that comprise what he calls his Vision Pie.
The main reasons that startups fail (the most important one accounts for 42% of failures) - and what you should do to avoid being one of them!
When the data confirm that only 1 in 400 companies secure funding, he shares his evidence-based reasons for this and explains how to ensure that you are one of the companies that do get funded (it's not about your pitch deck!)
Bob has also kindly provided the Bulletproof Entrepreneur audience with access to several valuable resources - see the links below.
https://www.ceobootcamp.us/top8 - Free eBook - Top 8 Reasons Companies Fail to Raise Funds – From my experience as a Serial Entrepreneur and also angel investor.
https://www.ceobootcamp.us/top20 - Free eBook Top 20 Reasons Startups Fail And How to Avoid Them – This based on research of hundreds of startup postmortems.
6 Professional Certifications and 40 Courses can also be seen at www.EntrepreneurshipU.com – I believe these courses can easily triple a company’s chances of success because they are jam-packed with dense content that inclu
You probably know Piers Linney from the TV show Dragon’s Den, where he appeared for two seasons, giving advice and investing his own money in startup companies.
Something of a reluctant celebrity, he left the Den and has gone on to start several other businesses in technology, media, and communications, including his latest venture, Implement AI.
During our conversation, he explained
The importance of storytelling when pitching your business to raise finance, find investors, or just selling your products to customers. Every entrepreneur needs to know how to sell.
He talks about the advice that Sir Richard Branson gave him when he was considering becoming a Dragon - you’ll realise why Sir Richard is as successful as he is.
The challenges faced by founders who come from a minority background or maybe didn’t go to the right school or university, and how to overcome that and succeed.
Towards the end of our conversation, Piers speaks passionately about the technology tsunami healing our way called Artificial Intelligence and what small businesses and SMEs should do to make sure they don’t miss the boat.
Piers is a real champion for SMEs and has just launched a new company to help small businesses harness the power of AI, which he believes will be transformational.
Finally, in an act of incredible generosity, Piers has provided the Bulletproof Entrepreneur audience with free access to his online course for entrepreneurs - which he normally sells for £198.
The course offers 10 hours of personally delivered advice over 15 modules and over 76 lessons. If you’re a business owner or aspiring entrepreneur, it's designed to save you time and money and reduce risk to maximise your chances of success and wealth creation.
The link to access the course for free is in the show notes.
But for now, sharing his reflections, insights and wisdom, I give you Mr Piers Linney
This is a special episode as it’s the last episode of Season 2 and so we’ve put together a compilation of the greatest hits covering some of the key ideas, insights, and themes that have emerged from the conversations I’ve had so far.
Roheel Ahmad is the co-founder of Forsythe Barnes, a recruitment company, but not just any recruitment company. The business has been listed on the FT250 Fastest Growing Business list for three years running.
In under 8 years, it’s grown from zero to almost £100m in revenue, has a team of 80 and has recently opened an office in New York with plans for LA and Dubai.
And they’re just getting started.
During the conversation, Roheel shared the 7 key ingredients that make up the secret sauce of his business success. Some of the highlights include.
How to disrupt an entire industry by embracing digital content and simply doing things differently to the way they've been done for decades.
The vital importance of relentless ambition and reminding your team about it regularly
Creating a meritocracy where, if you're good enough, you're old enough.
Towards the end, Roheel shares a thought that most entrepreneurs will relate to. It’s about using his business as a platform to see discover what he’s truly capable of - a platform for achieving his full potential.
Our conversation is full of practical ideas and real-life experiences that will be so helpful if you’re building a business.
After 35 episodes of the Bulletproof Entrepreneur podcast, I thought it was time we explored the dynamics where a husband and wife set up in business and have to manage two different relationships - the business partners working together and the life partners raising a family and having a quality home life away from the business.
Richard and Sonia Dixon met when they were young and started working together at a small travel agent in a less salubrious part of Birmingham where a business partnership blossomed kind of at the same time as a personal partnership.
Their story tracks the evolution of the travel industry front the time when the only way to book your holiday was by walking into a shop on the high street through the early days of the internet and online booking and took them to a position where they had a team of over 200 people and a thriving business.
Before it all came crashing down.
You’re going to hear about what it takes to grow a business from almost nothing to become a significant player in a highly competitive sector.
You’ll learn the meaning of the word Resilient when they explain that they were so close to hitting all-time revenue targets that they were about to take the entire team on a trip of a lifetime to Mauritius when the pandemic arrived, and their company was literally a few days from bankruptcy.
And of course, you’ll learn how they cracked the code of building a world-class business together whilst building a happily married family life together - so many valuable lessons for all of us.
And towards the end, Richard shares insight for all business owners who find themselves in a position of leadership when they haven’t actually formally been trained for it - and let's face it, that’s most of us.
If you work with a family member or simply love to hear an incredible business and life story that encompasses more ups and downs than the average rollercoaster, you're going to enjoy this inspired conversation.
Gurinder is the founder and CEO of Otto Car, the company that provides cars and finance to most Uber drivers in London.
Currently, over 5,000 vehicles on the road are provided through the services of Otto.
In the few years since the business was founded and they were operating out of offices in shipping containers in a West London car park, they’ve hit £50 million in annual revenue and are growing faster than ever - and they've done it all without having to give up any equity or selling to VCs or PE.
Coming from an immigrant family background, Gurinder was quick to identify cultural shifts impacting his dad's business, and he used the same strategy to get on board with new and emerging trends in his own business. He realised the importance of hitching your wagon to a company or sector that was growing fast - a bit like a support frigate for a huge aircraft carrier - in his case the aircraft carrier was Uber.
According to Gurinder, the foundations of Otto’s success are their core values and being mission driven. He explained that when it comes to values, ‘you can't do mission without marching’ - in other words, you need to walk the talk and demonstrate it through your daily actions
He describes the period during COVID when his company was losing £6,000 every hour and he really found out who his allies were - and crucially, who they weren't. - he uses strong language, but it only goes to highlight exactly how important this is to him - and if you’re an entrepreneur, I think you will understand
Towards the end of our conversation, he shares an anecdote that involves expensive wine and a life lesson, and it’s worth listening just to hear that!
I learned a lot and was greatly inspired and entertained - and so will you be.
Ladies and gentlemen, I give you Gurinder Dhillon.
S03E04 Lee Robertson - pioneering financial services entrepreneur on scaling his business through the power of PR and selling to colleagues via a Management Buy Out
Lee Robertson is a serial entrepreneur, having founded no less than 3 companies to date. One didn’t work out and is no longer around; one became a huge success, and he sold it to his colleagues in a management buyout; and the third one is currently thriving and keeping him busy.
Lee, who came from humble beginnings and spent his early career in the Royal Navy, entered the financial services industry as a direct salesman in his twenties. In the days before Google, he made cold calls every day from numbers he found in the Yellow Pages, which must be a fantastic way to develop thick skin—something that all entrepreneurs need!
He’s always been considered a pioneer and keen to employ forward-thinking innovations, which helped propel his success.
An early adopter of the concept of “personal brand”, Lee was a regular in the press and on TV, which gave his company a huge boost and provided fuel for their growth.
During the conversation, he shares a step-by-step guide on building your own personal brand to help grow your own company.
And he shares his views on an organisation called “The Company of Entrepreneurs”, a City of London Livery Company that he found incredibly helpful as he evolved his career and grew as an entrepreneur. - worth checking them out as they’re very much open to members - link below.
Towards the end, he offers some wise words about what matters and what’s really important - something that all entrepreneurs need to be reminded of from time to time.
And he signed off with some fantastic book recommendations, most of which I'd never heard of but will certainly be checking them out - and if you’re building a business, you should too.
Packed with insights and ideas that I know will be helpful to you, ladies and gentlemen, I give you Mr Lee Robertson.
Have you ever had an idea for a business but thought there were too many challenges and barriers to getting started? Whether it's access to funding or more importantly, access to good quality business advice and mentoring,
Or maybe you've been in business for a year or two and you’re facing some headwinds- the economy is challenging, getting access to capital is harder than ever, and finding reliable sources of high-quality impartial advice is difficult.
Or it could even be that you’re currently working for a company and think that you could do things a bit better than the way things are done, but it’s too big a leap to take. - you’ve got bills to pay and a family to support, and starting on your own without the finances or guidance - it just seems too risky.
If so, this may be the conversation you’ve been waiting for, and I think you’ll want to get to know this week’s guest, Richard Bearman, managing director at the British Business Bank with a focus on start-ups and early-stage businesses.
I must confess that although I was aware of the British Bank, I wasn't clear on the full range of services and support they offer to British entrepreneurs. - from start-up through scale-up and beyond, they provide a complete suite of services both directly and in partnership with other organisations.
I really enjoyed my conversation with Richard, and in particular, some of the inspiring stories he shared about founders who have benefitted from the services provided by the bank and who’ve gone on to achieve remarkable things in business, regardless of the headwinds they’ve faced.
What comes through from the conversion is that Richard really cares; he wants to help, he wants to make a difference and he wants to encourage entrepreneurship across the UK.
I think Britain is a very entrepreneurial nation, and there are so many people with an idea bubbling inside of them that if only they could find a way to get started, it could change their lives.
If that's you or someone you know, I encourage you to check out the positive things that the British Business Bank is doing, starting with the vast resources they provide free of charge on their website, and I've posted a link in the show note for you to take a look.
Apparently, it was Mark Twain who said, “Twenty years from now, you will be more disappointed by the things that you didn’t do than by the ones you did do.”
Sometimes we need a spark of inspiration, something to compel us to action.
I really think you’ll enjoy this inspired conversation - ladies and gentlemen I give you Mr Richard Bearman.
S03E06 - The Water King - Allan Feldt sold a business making just £50k profit for £15 million and then went on to a £75 million exit. An inspiring entrepreneurial story.
Since I began the podcast as a resource for business owners and aspiring entrepreneurs, I’ve aimed for a blend of real-life conversations with founders and owners as well as practical ideas and insights from the people who can help and support entrepreneurs, such as lawyers, accountants, wealth advisors, and bankers.
But my favourite episodes are the entrepreneur stories. The real-life experiences of those who had a spark of an idea and began working on it to create something, to build something out of nothing, and hopefully to enjoy the success.
This week's episode is an incredible story of a crazy guy who had the idea to sell water in Scandinavia.
My wife is Scandinavian, and as a result, I’ve spent a lot of time in Sweden and Denmark over the years, and I can tell you that the water that comes from the tap there is as pure as you can get it.
So who on earth would come up with the mad idea of bottling water and selling it in Scandinavia and then across Europe?
The answer is our guest today—Allan Feldt, who spoke to us from his home in Copenhagen.
During a truly inspiring conversation, he shared his ideas on;
Knowing what it is that you are really selling—in his case, he wasn’t selling water necessarily, but was selling cost savings and employee happiness to his business clients
He explains how he cracked the code of creating a product that everyone needs and then employing an incredibly successful sales tactic that almost any business owner can use in their own company
And he shares his experiences on the art of negotiation and some invaluable tips when it comes to sitting down and agreeing on the terms of the sale of your business
Towards the end of our conversation, Alan shares his deeply reflective thoughts on family, money, children, and how to live a joyful life.
I absolutely loved my conversation with the Water King - ladies and gentlemen, I give you, Mr Allan Feldt.
S03E07 Dave Butler, CEO of Dimensional Fund Advisors - From pro basketball to leading a $600 billion investment business; timeless money advice for entrepreneurs.
In my ‘day job’, when I speak with entrepreneurs and ask them what their single biggest financial concern is once they sold their business and received a capital sum, the answer is often ‘I don't want to lose it - I don’t want to mess this up!’
So I started this podcast as a resource for founders and business owners - those who’ve taken the leap, created a business and are now in the process of growing it or possibly already sold and exited.
Anyone who’s started a business knows how difficult it can be, and if you manage to navigate the inevitable rollercoaster ride that being an entrepreneur involves and created some economic success, the last thing you want to do is be exposed to unnecessary risks.
That's why I was delighted to invite Dave Butler to share his wisdom with our community.
Dave is the CEO of what I've often called The Best Kept Secret in Investment - Dimensional Fund Advisors and is one of the smartest people in finance.
I’ve had the pleasure of meeting him several times and I can tell you that he’s a deeply thoughtful guy, super high integrity and incredibly passionate about helping investors succeed.
During our conversation he explained his journey from playing pro basketball through his early days on Wall Street and now leading Dimensional - and the lessons he’s learned along the way, such as:
Why business owners with money to invest should be wary of hiring a specific type of fund manager or wealth adviser.
The three essential areas you must focus on to maximise your chances of long-term investment success.
His checklist of essential attributes to look for if you plan to hire a wealth adviser or money manager.
Towards the end, after over 30 years in the money management business, and now running a company that manages hundreds of billions of dollars, his personal definition of True Wealth is just brilliant.
Packed full of stories, anecdotes and words of wisdom, you're going to enjoy this conversation - ladies and gentlemen I gave you Mr Dave Butler.
I was in Cape Town a couple of months ago, speaking at a conference, and I was in the audience to witness one of the best keynote speeches I’ve ever seen, certainly the best keynote on the subject of entrepreneurship.
The speaker was Bruce Whitfield, who is a big-name broadcaster in South Africa, hosts his own daily business show and is a writer, journalist, podcaster, and incredible storyteller.
During his career, he’s met with, interviewed, and spent time with some of the best business builders, creators, and successful entrepreneurs on the planet, so he’s ideally placed to share what he views as the characteristics essential for success in business.
He talks about the importance of optimism and looking for strategic opportunities even during the most challenging times.
The lessons we can all learn from Dr Seuss and how to create solutions to problems
He shares the incredible journey of Nandos and its co-founder Robbie Brozin and what it took to build a global business with over 1200 outlets in 30 countries- some brilliant insights from an incredible entrepreneur.
Towards the end, Bruce explains the vital importance of leadership in business and how the most successful business leaders approach the role.
Packed full of stories and anecdotes involving business rock stars such as Richard Branson, Jeff Bezos, and Elon Musk, and even Nelson Mandela and the Dalai Lama!
If you fancy eavesdropping on an inspirational conversation during these challenging times, you will enjoy this episode.
From Cape Town, South Africa, via London, ladies and gentlemen, I give you Mr. Bruce Whitfield.
Most business owners that I know aren't entirely focused on making money or on the financial rewards, but nevertheless, creating economic security for you and your family is a vital part of why you started your business in the first place.
So whether you sell your business in the future or simply use it as a vehicle to build your personal wealth, having some deep insight into the world of money and financial success can never be underestimated.
So, I couldn't think of anyone better to round off the year than our guest, Victor Haghani.
His background and experience are highly impressive.
From graduating from the London School of Economics through his time in investment banking on Wall Street, he was a founding member of one of the most celebrated hedge funds in the world, Long Term Capital Management.
After that blew up in spectacular fashion, he went on to try numerous different roles and is an entrepreneur who knows the ups and downs of business life intimately.
As Victor explains during our conversation, he's made money, he's lost money, and he truly identifies with what it takes to be a successful entrepreneur, both from a financial viewpoint and also from a business and personal one.
He’s recently published a fabulous book called The Missing Billionaires, and I recommend it as part of your essential toolkit for understanding the important aspects of personal wealth.
It’s often said that keeping money is harder than making money, and the numbers that he quotes are staggering.
It seems that the vast majority of the wealth that successful entrepreneurs have created over the last hundred years or so has disappeared for multiple reasons.
He explains some of the key strategies and tactics that you can embrace in order to preserve wealth within your family, both now and for future generations.
He also shares a fascinating experiment that concluded that most of us, even experienced professionals, struggle with basic decision-making principles around money and risk.
Towards the end of our conversation, Victor breaks down the precise steps you should take to make smart decisions with your money. Links:
Hello, and welcome back to the Bulletproof Entrepreneur podcast, the first of 2024.
We’ve got something special for you to kick off the New Year!
‘Bitconned” is currently one of the top shows streaming on Netflix around the world is and it features my guest Ray Trapani. It tells the story of 3 young hustlers who get caught up in the murky world of crypto investing and ultimately create a criminal enterprise and make millions.
There are so many twists and turns, and if it were a fictional story, you’d dismiss it as being too far-fetched to be believable, but it's true and it’s quite extraordinary.
Frankly, our conversation is a warning to anyone thinking of investing in cryptocurrency.
To hear from someone who spent years deeply involved in the shady chat rooms and learn how he was able to manipulate the system should be enough to put you off going anywhere near it - or at the very least, doing lot of research before you part with a penny
And make sure it’s money you can afford to lose - as there is a good chance you will.
Consider this a public service announcement and share it with anyone who is considering getting involved.
Early in our conversation, Ray candidly shares a traumatic childhood experience that had a huge impact on the man he became and the life choices he made.
We discussed the role that Fear of Missing Out (FOMO) has on the market and why people see prices going up (often artificially through market manipulation) and are desperate not to miss out.
We explore the role of celebrity endorsements and so-called finfluencers - if you see a celebrity endorsing any financial product, view that as a red flag and give it a miss.
Ray shares exactly how he invests his money now as an insider who knows about crypto and what goes on in that market. - you may be surprised by his advice
After everything he’s experienced, his own personal definition of true wealth that he shares towards the end is profound.
From Long Island, New York, ladies and gentlemen, I give you Mr Ray Trapani.
My guest today, Rand Fishkin, is the author of one of the best business books I’ve ever read, and trust me, I’ve read a lot of business books! It’s called Lost and Founder, and it charts his journey as a marketing tech business entrepreneur who raised money from Venture Capital investors and was growing at 100% year on year. It’s a ruthlessly honest book in which Rand breaks down the details and behind-the-scenes experiences of an entrepreneur. I think it’s essential reading for any founder or business owner looking to scale and seek an exit. During our conversation,
He reveals the truth about raising capital and the secrets that the VC world doesn’t tell you when you’re seeking investment.
He explains his decision to turn down an offer from Hubspot, which would have resulted in a $250 million exit.
We also explore the concept of “enough” and why creating economic security is essential for any entrepreneur.
And as someone with almost half a million followers on Twitter, Rand gives thoughtful advice to entrepreneurs on building their own personal brand - spoiler alert, it’s not what you might think! Now, for an inspiring and refreshingly candid conversation, ladies and gentlemen, I give you Mr. Rand Fishkin.
Alex Chisnall is the creator and host of one of the UK’s leading podcasts called Screw It Just Do It and is now a highly successful entrepreneur in the content creation space.
The name of his podcast is a reference to the time he spent working at Virgin and observing his then-boss, Sir Richard Branson, at close quarters. Screw It Let’s Do It was a phrase often used by Sir Richard and the title of one of his books.
During our conversation, Alex talked in depth about the resilience needed to be a successful entrepreneur and how he needed to dig deep to get through some really difficult challenges, some of which he described as the worst time of his life - and he has some words of encouragement to share that I think you’ll find valuable.
He discusses the vital importance of maintaining strong physical and mental health and his strategy for dealing with tough times. These are vital lessons for us all.
And he shares his thoughts on the impact that building a personal brand can have for any business owner and his belief that every entrepreneur should have their own podcast together with some practical first steps to get started.
Towards the end, having experienced a personal and business rollercoaster ride over the last 20 years or so, his one-word definition of True Wealth is worth hearing and reflecting on.
If you’re building a business, I'm sure you’ll be able to relate to his wise words.
So, once again, thank you for being a loyal supporter of the Bulletproof Entrepreneur.
Please hit the subscribe button, but for now, ladies and gentlemen, I give you Mr Alex Chisnall.
Let me start by sharing some statistics with you, which I find rather shocking.
90% of SMEs are unsellable
50% close down for zero value
Only one in 2,000 are sold for the full market value.
It was today’s guest, Christine Nicholson, who shared that data with me, and as awful as the numbers are, the good news is that she’s developed a business owner’s toolkit to ensure that you’ve got the best chance of being that 1 in 2000 who do have a successful exit. Christine is an extraordinary lady. Having left school at 16, she quickly realised that working in a bank was not for her. So, she qualified as an accountant and embarked on her own entrepreneurial journey, which involved multiple businesses, several exits, and many lessons learned along the way.
During our conversation, Christine talks about;
Why you need to start planning for your exit much earlier than you think - and the dangers of leaving things late.
The steps to take to massively increase your business valuation – some of which may surprise you. She shares the details of how she helped a business increase its sale value 12x in less than 2 years.
She explains the process she uses to ensure you’ve got the right people on your team, allowing you to spend time working on your business strategy more effectively.
Towards the end of the conversation, Christine shares the details of some amazing tools and online services available to you as a podcast listener free of charge. Now, for a masterclass on how to successfully build scale, sell and exit your business, ladies and gentlemen, I give you Christine Nicholson. Resources and Contact Details
Let me set the scene by telling you that one of my all-time favourite TV shows is "Succession”. It's a fascinating tale of a wealthy family wrapped up in the complexities of their business empire led by the founder and patriarch, Logan Roy, brilliantly portrayed by the actor Brian Cox. If you haven't watched it yet, I highly recommend you do. But let me give you a quick overview: "Succession" is not just about wealth and power; it's a saga of business intrigue, sibling rivalry, and the delicate art of succession planning. Now, while most of us may not hail from billionaire clans in New York, family businesses are a cornerstone of our economy.
90% of private enterprises in the UK are family-run, employing nearly 14 million people and generating over £1.7 trillion in annual turnover. They're the backbone of British entrepreneurship. These businesses may be owned and managed by a couple, there may be siblings or other generations involved, or they could simply be run by one owner-founder who will usually bring with him or her some level of personal family dynamics. Yet, despite their prevalence, the intricacies of family businesses often remain unexplored. That's why I'm excited to introduce today's guest, Russ Haworth. Russ is the UK’s leading authority on family businesses. A former financial planner who now runs his own consultancy business, providing advice and insight to families as they navigate the inevitable challenges faced by business owners and those closest to them.
During our conversation, Russ shares his experiences exploring the human side of the business which is even more important than the financial side of an organisation.
We discuss the tricky subject of wealthy business owners and their choices about whether or not to help their children financially - or to allow them to carve out their own path in life. This is something that comes up regularly in my conversations with successful entrepreneurs and is an important issue.
And Russ explains why it’s important to have what he calls a ‘lifeboat drill’ - a form of dress rehearsal to make sure that the family and the business can be well prepared to meet any future challenge, expected or unexpected.
Family businesses exist at the intersection of money, business, emotions - and the family itself, so there are few more complex and challenging institutions.
And there are millions of them across the country!
It’s a fascinating and important subject, and Russ is a proven expert in all the nuances and complexities. Now, discussing everything you need to know about the family business, ladies and gentlemen I give you Mr Russ Haworth.
I’m pleased to share a fascinating conversation I had recently with Jeremy Harbour, one of the most successful and experienced entrepreneurs around. Jeremy is a born entrepreneur who started selling jeans, watches, and even Cadbury creme eggs at age 11!
He left school at 15 and has gone on to build, buy, and sell multiple companies. He’s currently more active than ever through his company and network, The Harbour Club.
Jeremy has deep insight into the strategies and tactics needed to build value and think beyond the traditional model of organic growth, one client at a time.
During our conversation
He described the three levers of business growth and introduced a fourth, often overlooked lever, which can be a game changer for many entrepreneurs.
He talks about business failure and the two vital lessons he learned when things didn't work out as planned. As any business owner knows, disappointment is an inevitable part of the journey, so knowing how to manage it is vital.
He also shares the specific tactics you can deploy as you prepare your business for a successful sale, including one idea that any entrepreneur can use that could increase your profits by 40%. That idea alone will ensure that this episode will be an excellent investment of your time.
A high-energy entrepreneur and a wonderful storyteller, ladies and gentlemen, I give you Mr Jeremy Harbour.
Peter Cowley is one of Europe’s best-known angel investors and active supporters of entrepreneurship. He studied computer science at Cambridge and founded his first company in 1984.
Since then, he’s launched no less than 12 companies, some of which he exited from successfully, some of which failed, and one that is still going over 40 years later.
As one of the UK’s most successful business angels, he’s invested in 76 technology companies, and his book, The Invested Investor, is widely recognised as the business bible for the startup and entrepreneur communities.
But behind his incredible success are a series of dreadful experiences in his private life.
A personal battle with alcoholism, the loss of close family members and tragically, the death by suicide of two of his children.
Sadly, Peter is currently battling Stage 4 cancer and has just published what he expects to be his last book, Public Success, Private Grief, in which he documents his journey, both business and personal.
Peter still has an immense passion for the entrepreneurial community. During our conversation, he offered invaluable advice and insight to anyone building a business or planning to start their journey.
He also details the challenges he’s faced and how he’s managed to keep going despite unfathomable life experiences.
A truly inspiring man and I was honoured to speak with him and share the conversation with you.
If you’re a business owner who plans to sell your business one day, this episode is essential listening. Picture this: You've poured years of your life into a business, helping to build it from the ground up, and then the business is sold. As a result, you receive a seven-figure sum, and you’re financially secure. Or at least you hoped so. But then you take the proceeds, decide to invest in a new company, and lose it all. That’s the situation today’s guest, Jim McLaughlin, experienced when he made an exit several years ago. If you've been listening to this podcast for a while, you’ll have heard entrepreneurs share their journeys of scaling, successfully exiting, and creating economic security for themselves and their families. But not every story has a happy ending, and I’m grateful for Jim's candid sharing of his story. It reminded me of the time I met a client who had just sold his company, and I asked him what his biggest financial concern was now - he looked me straight in the eye and said, ‘Losing it all’ Founders know a cash sum at exit often represents years of grind, hard work, and sacrifices. However, they’re immediately faced with big decisions about what to do with the capital. Unfortunately, Jim made a few errors and is keen to ensure that others learn from them.
Jim talks about the importance of knowing your numbers and the 3 KPIs he tracked weekly.
How he was able to be resilient in the face of incredible challenges.
He also shares the work he’s doing now to help small business owners and the buzz he still gets from it.
He also outlines the most important thing you must do if you sell your business for a significant sum—that advice alone is worth listening to the episode for!
Welcome back to the Bulletproof Entrepreneur podcast, where we delve into the minds of experienced entrepreneurs and uncover their secrets to success. I’m your host, Alan Smith, and I’m really excited to bring you my conversation with today’s guest, Alexis Sikorsky. Alexis is an entrepreneur who built a software business from the ground up and eventually negotiated a sale to private equity for over $100m. I’ve just read his new book, "Cashing Out: A Business Owner’s Guide to Selling to Private Equity". It’s a great book, as he dives deep into the details of life as a founder—the downs as well as the ups. I encourage you to buy it immediately and read it cover to cover! During our conversation, Alexis shares lots of great stories, such as
How he agreed to a sale valuation based on a multiple of his very ambitious future forecasts at a time when his company was barely breaking even.
He explains Why he thinks that raising capital should be avoided at all costs for most businesses — a very different view from the one held by the VC world,
He also outlines the vital importance of being a ‘benevolent dictator’ when growing your business, as democracies simply don't work!
These are only a small sample of the wisdom he shares, forged at the coal face of real-life business building. It's a master class for all business owners, and we’re privileged to learn from his experiences. So now, let’s go over to the conversation with my brilliant guest. ladies and gentlemen, I give you Mr Alexis Sikorsky.
Joanna Jensen is the founder of Child's Farm, the hugely successful baby and child skincare company that was recently sold for £40m. This is one of the most inspiring conversations I’ve had since we launched the podcast. Joanna is a fabulous storyteller, and her enthusiasm is infectious! Hers is an amazing story of grit, resilience, and sheer determination to succeed against the odds. Joanna battled cancer, surgery, and a divorce, all while building her business. She funded it in the early days with credit cards, renting out rooms in her house, and even selling jewellery! She started the business out of necessity. In fact, 99% of female consumer brand entrepreneurs created their company out of a personal need. They needed something in their own lives that didn't exist, so they started a business to fill the gap in the market—and that’s what Joanna Jensen did to help one of her children who had very sensitive skin.
Joanna discusses the importance of sheer hard work, taking complete responsibility for one's decisions, and not blaming others.
She explains why it’s important to build your ‘tribe’. She found that many other people had similar issues with their children’s skincare and leveraged the press and social media to create a movement of like-minded advocates.
And as we’re now in the campaigning period for the general election, Joanna has some words of advice for all politicians about the vital importance of SMEs and entrepreneurship in the UK to ensure a vibrant economy—she doesn't mince her words!
There were so many gems of wisdom in this conversation and it should be shared with as many business owners and aspiring entrepreneurs as possible. Business can be tough and this conversation could just be the inspiration they need. I give you Joanna Jensen, one of the UK’s greatest female entrepreneurs. Links
This podcast is for business owners and entrepreneurs - reverse engineering your way to success through inspiring conversations. And the conversation you're about to hear is truly inspiring. I'm conscious that many of the guests I've had on the podcast over the last couple of years have shared stories of incredible success. But anyone who’s been in business for any length of time knows the significant challenges and difficulties of entrepreneurship. And no one knows that better than today's guest, Phil Bray, founder of the Yardstick Marketing Agency, which is growing fast and going from strength to strength. However, during his business journey, Phil faced overwhelming challenges, eventually losing everything—his business, his house, even his car! At the same time, his relationship fell apart, and he had a 5-year-old son to care for. This is a story of passion, resilience, and retaining a positive mindset despite overwhelming difficulties. I hope it encourages you if you’re ever going through a tough time. During our conversation,
Phil shared how his ambitious business plans came crashing down when the great financial crisis of 2008 hit - and the one thing he would never do again and recommends business owners avoid at all costs.
He explains how he built personal resilience and managed to get through the toughest time of his life.
Applying the lessons he learned,Phil provides a four-part ‘blueprint’ for business growth—priceless advice for all ambitious business owners.
And listen closely towards the end of our conversation when Phil shares his thoughtful definition of ‘True Wealth’ - I promise every business owner will relate to it! Ladies and gentlemen, I give you Mr Phil Bray
The Happy Index: The Sunday Times bestseller packed with management tools and leadership advice for a happier, healthier workforce https://amzn.eu/d/0EzRkKO
This podcast is for entrepreneurs, reverse engineering the formula for successful scale, sale, and exit—inspired conversations with world-class entrepreneurs and the specialists who support them. I came up with that strapline when I launched the pod a couple of years ago, as that’s exactly what I wanted to create—a resource that, if you’re a business owner or aspiring entrepreneur, you can tap into and learn from those who were perhaps a few years ahead of you on the journey. Then, you can apply the lessons learned and the wisdom shared. In many ways, today’s guest, Josh Keegan, is the perfect guest for the pod. A chartered accountant and successful entrepreneur, he has started, scaled, and exited several businesses and, in his current role, applies his experiences to help over 100 business owners. I recently read his book Small Business Big Profit and I loved the way he used his experiences - good and bad to codify precisely how to create a successful business. During our conversation, Josh shared how facing a financial black hole in his business that could have been terminal forced him to rethink how a business should operate, particularly regarding all-important financials. He explains why he decided to sell his business just as he’d got it into great shape. It was working like a dream, and he needed to spend only 90 minutes a week working in it. He breaks down his three-part framework and the specific actions you should take to achieve organisation, structure, and control. He also shares valuable insight into the right approach to improving your pricing and creating greater profits and enterprise value. And listen towards the end of our conversation when Josh explains the surprising method he uses to eliminate stress and anxiety—he recommends it to every entrepreneur and guarantees its effectiveness! He also provides links to many free resources, including frameworks and templates, that you can download and use immediately in your business. Before we hear from Josh, I'd like to ask you for a quick favour. As you know, this podcast production is a labour of love. There are no annoying advertisements or walls, but it does take time and effort to create. So, if you've benefited from listening to the conversations, I’d be grateful if you could head to the Apple Podcasts platform and leave a five-star review and perhaps a few positive words.
Also, remember to hit the subscribe button to receive the latest episode as soon as it's available. But now, without further delay, a masterclass in building a financially fit business. Ladies and gentlemen, I give you Mr Josh Keegan.
My guest today, Marc Adams, is the author of a book by the same title and has spent nearly four decades deep in the trenches of business and entrepreneurship. His extensive experience, from a career in corporate life to setting up his own business, has given him a unique perspective on the ups and downs of life as an entrepreneur.
A cancer diagnosis in 2020, giving him six months to live, compelled him to write a book about everything he knows about business building, creating entrepreneurial value, and exiting in the most tax-effective way.
Happily, Marc overcame the diagnosis and is now in good health, providing advice and consultancy to founders keen to benefit from his knowledge and experience.
During our conversation, Marc unpacked some steps you can take to increase revenue, reduce costs, and multiply your company’s value.
He explains how he helped a company reduce its costs by over £2 million and redeploy that capital to fuel future growth.
He explains what so many businesses have got wrong about their website and digital presence and how they can improve it and drive sales.
He also shares some smart ideas on getting financially organised ahead of a sale to minimise the tax burden on founders when they sell their company.
And as someone who only a few years ago was staring death in the face after his terminal diagnosis, Marc's view of what true wealth means is well worth hearing.
He goes through so much more, and we could have gone on for another hour and still not covered everything!
Check out the show notes for links to some fabulous resources Marchas offered for free to listeners on this podcast, including a complementary diagnosis of your current business based on the advice in his book.
Our guest, John Rood, hails from Chicago, USA. John and his wife built an education business which they later sold to a private equity firm for a life-changing sum of money.
And to some degree, that’s where his problems started...
‘Life after exit’ was far from plain sailing for John, despite the fact that he was now financially secure. He went through a number of changes and realised that he was not prepared for the life transition and new set of challenges he faced as a wealthy ex-business owner.
He recognised that there was no blueprint or How-To guide for business owners who sold up and needed to navigate the next chapters of their lives - and so he wrote one!
John’s book Beyond the Exit charts his own journey but also provides valuable insights from his conversations with over 70 other exited entrepreneurs who’ve been on similar journeys and which we discuss during the conversation.
We also discuss:
The 3 Things You Must Do Before You Sell Your Business and how to prepare yourself for life after exit - and what he’d do differently if he were ever to sell a business again..
The 5 most popular activities for entrepreneurs after they sell - and why you should avoid most of them!
We explore the concept of how much money is enough, a truly fascinating subject that has more to do with psychology than maths.
And John shares a great story about how he lost out to Sam Altman, the founder of Open AI when he was planning to invest some of his new-found wealth in a tech startup!
So much wisdom shared - and so now, ladies and gentlemen, I give you Mr John Rood.
My guest, Elizabeth Hopkins, candidly shares her inspiring journey through the ups and downs of life as a founder entrepreneur who has experienced everything that life has to offer, including scaling a business to a multi-million-pound exit, but then having to deal with the worst kind of tragedy immediately after.
As Liz mentions, she’s recently become a client of our financial planning business, and in the time I’ve known her, I’ve been blown away by her positivity, resilience, and sense of fun.
She encapsulates what it takes to be an entrepreneur, and frankly, that's why I started this podcast—to enjoy inspiring conversations with business owners and then share them with the world!
You’ll learn about the vital importance of focussing on a niche market, which you can dominate when others fight it out as generalists.
Liz shares something really interesting that no one has ever talked about in the past—her decision to run a lifestyle business for many years and enjoy lots of time with her family as they were growing up and then very intentionally pivot to a growth business and target a multi-million-pound exit. She believed you could have the best of both worlds - and did!
She then candidly explains the tragic circumstances when, a week after the business was sold, her husband and business partner had a brain tumour and died. Her story of survival and resilience is nothing short of remarkable and a true inspiration to all of us.
This is an incredible conversation and I hope it encourages you and inspires you.
Ladies and gentlemen, I give you Elizabeth Hopkins.
Hello, and welcome back to the latest episode of the Bulletproof Entrepreneur podcast. I’m your host, Alan Smith. In this episode, I speak with someone I’ve known for many years, and as you’re about to discover, he’s a force of nature!
His name is Jason Butler, and although I’ve known him for a long time, I had no idea just how challenging his upbringing was.
People talk about a tough childhood and not having the same chances as other people from more privileged backgrounds, and Jason grew up in a house in south London with an outside toilet and a tin bath—almost Dickensian, as he says himself.
He had a challenging childhood, living hand to mouth, trying to hide from debt collectors and avoid being beaten up at the tough school he went to.
Yet he went on to build a leading financial services business, which he sold, bought back, and sold again.
During the conversation, you’ll learn how his early years taught him to be resilient when your back’s against the wall—metaphorically and literally—and this proved useful in his later years in business.
He shares the importance of creating a culture of continuous improvement and thinking about everything through the lens of your customers’ experiences.
He also explains the value of having a deep sense of purpose after a business sale, the importance of giving back when one no longer has financial worries, and how he took 18 months off after he sold his business to think and design the exact sort of life he wanted to live in the future.
He also shares an incredible David and Goliath story about the time he took on the taxman over something he felt was unfair and won.
These are a fraction of the valuable insights that Jason shares. It’s a long episode because there was no way I was going to cut him short as he shared these nuggets of wisdom!
Our guest today is Helen Pattinson, a former lawyer who left behind a promising career to embark on a bold and, at times, uncertain new path—one that would ultimately lead to a flourishing business, Montezuma Chocolate. But this story is far from straightforward. Helen doesn’t just share the wins—she takes us through the moments of doubt, the near-disasters, and the pivotal choices that could have ended it all before the business even started.
What would you do if your main supplier suddenly disappeared just weeks before launch?
Or if your company was on the brink of collapse during one of the worst financial crises in recent history? Helen faced all of this and more.
In this episode, you’ll hear how a spontaneous adventure through South America sparked an obsession, and how that simple passion turned into something much bigger. You’ll also discover how Helen and her husband Simon built their business from scratch—literally—and the unexpected hurdles they had to clear to keep their dream alive. Towards the end, Helen shares her experience of the post-sale period, including her loss of identity and her need to find a new purpose. Ladies and gentlemen, I give you the Chocolate Entrepreneur - Helen Pattinson.
This show is all about reverse engineering the successful scale, sale, and exit of your business and enjoying life on the other side. And for every successful business owner, smart tax planning is crucial to business growth and future sale. Whether it's corporation tax, PAYE, income tax, dividends, or VAT, , they all play a part and impact decisions you make. When the time comes to sell your business, planning effectively and well ahead of time can have a huge impact on you and your family. Our new government’s first budget or autumn statement is coming up in a few weeks, on October 30th, and all business owners will be paying close attention to what Rachel Reeves, our Chancellor, says that day. So, in a special pre-budget episode of Bulletproof Entrepreneur, I am delighted to introduce you to Nimesh Shah, the CEO of Blick Rothenberg, a leading firm of chartered accountants and tax advisers with a special focus on providing advice to entrepreneurs.
During our conversation, you’ll learn what Nimesh believes could happen to capital gains tax, inheritance tax, and pension rules, all of which will impact business owners.
He shares his advice on how entrepreneurs should plan ahead of the budget, including an idea that could lock in today’s possibly lower rate of CGT even if you don’t compete on your business sale for a year or so—although there are some risks, as he explains with an interesting client story!
Aside from the budget, we also discuss broader tax planning issues for business owners and how to optimise your situation two to three years before you plan to sell your company.
We also discuss an issue many business owners are considering—relocating overseas to a tax-favoured country. His advice is very thoughtful.
This is truly a business owner’s tax planning masterclass from one of the country's leading authorities on the subject. Please listen, learn, and get in touch with Nimesh or myself if you want to learn more. Links:
We’re publishing this episode just before the Autumn 2024 Budget, when Rachel Reeves will share her vision of how she plans to improve the country’s economy.
I really hope she understands how valuable the start-up and entrepreneurial economy is in the UK and that she’ll encourage it and ensure its continued success.
Today’s guest is a fantastic example of that British entrepreneurial spirit.
Magnus Willis hatched a plan with his co-founder during a long walk after they’d watched a cricket match at The Oval!
They decided to leave their highly-paid jobs in advertising to take a huge risk and launch a new business.
Through sheer hard work and perseverance, their company grew from two guys in a small room with laptops to become a significant business, employing 80 people, before being sold to a large UK company.
It’s a fabulous story with so many insights and lessons that Magnus shares.
Learn from the best
He explained how he was able to learn so much by being around talented and experienced people in the companies he worked for after he left university.
It’s important to get into the best companies in your chosen field and learn from those people as you build your own knowledge and experience.
Be a specialist, not a generalist
A theme that comes up regularly in my conversations is starting as a generalist and then pivoting to become a specialist. This creates significant value in your business and minimises your competition.
Magnus’s company, Sparkler, began as something of a generalist but then, over time, decided that they wanted to become the leaders in a specific niche market. This became a huge part of their success.
Be future-focused
Magnus discussed the importance of looking up from your day-to-day work, seeing where the world is going, and then aligning yourself with future growth opportunities.
In his case, when traditional magazines went online, and mobile was growing fast, this meant looking at the approaching ‘wave of opportunity’ and getting ready to surf it.
Life after exit
Towards the end of our conversation, he also reflects on his life now as a successfully exited entrepreneur and how he designed his ideal life, now that he’s no longer busy running a company.
His thoughts are deeply insightful.
Ladies and gentlemen, I give you Mr Magnus Willis.
Welcome to a special episode of the Bulletproof Entrepreneur podcast.
One issue that has been dominating the conversations online and in person for business owners over the last few days has been the budget.
October 30th was a very significant day. It was the first labour budget for almost 15 years and the first by a female Chancellor.
After three months of speculation and predictions, we finally had the details—and there was a lot to unpack for all business owners.
For starters, there were the changes to national insurance contributions, the reduction in inheritance tax benefits, the increase in capital gains tax, and the reduction in what was known as entrepreneurs' relief.
So I was delighted to be able to persuade two leading tax experts onto the show to offer some insights and expertise.
Josie Day and Richard Jameson from leading tax advisers Saffery have been deep in the details of the budget over the last few days, and they've shared their take on what it means for business owners.
Before we hear from them, I want you to be the first to know about an exciting new project we’re launching in 2025.
The Bulletproof MBA is a course designed for business owners too busy to go on courses!
A 12-month programme of monthly 3-hour sessions with like-minded entrepreneurs who want to learn all about how to run a better, smarter business and ensure success in what will be a challenging next few years.
We’re hosting a free taster event in London on November 25th, and I’ll post details on LinkedIn.
Hope to see you there.
But now, without further delay, I give you Josie Day and Richard Jameson, talking all things budget and tax.
Paul is a serial entrepreneur who has started, scaled up and sold several businesses, invested in many others, and is now building yet another company.
He also advises and mentors several other founders and business owners.
Through his personal and business experiences, he’s effectively created a success blueprint for any business owner to adopt and apply within their company.
During the conversation, Paul explains.
How to build a systematic sales and marketing engine to drive growth
The vital importance of joint ventures and partnerships and how to create successful ones
How to build the best systems and processes and the accreditation that every business should have
Why you should set your prices at 15% above the market
The one essential thing you must do if you’re going to create the most value from your business before selling
He also discusses the importance of physical and mental health to ensure that you’re in the best shape to deal with the inevitable challenges of being an entrepreneur.
He shares the precise details of his daily routine, which keeps him in prime shape for business.
The “business owner’s success blueprint” – all in one convenient podcast episode.
You may be familiar with today’s guest, Richard Farleigh, a high-profile entrepreneur, former Dragon on the TV show Dragon’s Den, and member of the Sunday Times Rich List.
The successes are well documented - but Richard’s start in life couldn't have been much worse.
Born into a family of 11 children with an alcoholic father, they travelled around the Australian outback, living in poverty in 2 tents.
Eventually, Richard was taken into the care system at 2 years old, and his early years were quite brutal.
Separated from his siblings, treated poorly by foster parents, and placed in the remedial class at school, Richard eventually found salvation through his love of chess.
This led to him developing a skill for strategy and numbers, which allowed him to secure a place at university and then on to a job at the Central Bank.
He later moved into investment banking, where he excelled, and was headhunted to run a secretive hedge fund in Bermuda - before retiring at 34 and moving to Monaco.
What a journey!
But inevitably, retirement wasn't for him, and Richard found a new passion for business. He’s since invested in over 100 companies across a wide range of sectors and industries and remains very active in the entrepreneurial world.
He shared his experiences on Dragon’s Den and what he thinks of one Dragon in particular - and it’s not flattering!
He talks about what it takes to succeed in business and, as an investor, the secret sauce ingredient that he looks for in every company he invests in.
He also discussed his two new books, which he just published, and why he thinks they could help business owners and aspiring entrepreneurs. I’ve included a link below to access them pre-launch.
This is an incredible story of resilience and personal growth that offers so many lessons for anyone facing challenges in their life.
Richard's story proves that success is always possible, even when the odds are stacked against you.
If you enjoy the conversation, please hit the subscribe button, give the show a 5-star review, and share it with anyone you think it can help.
My guest today is Mac Lackey has a fascinating story and some original insights that I think you’re going to like and get a lot out of, especially if you’re building your company towards an exit - and let’s face it all, business owners are doing that in one form or another.
When his original ambition to become a professional football player hit a dead end, Mac started an internet business in the early days of this emerging technology, and that resulted in an eight-figure exit while he was still in his twenties.
He then went on to start, scale, and exit five more companies before deciding to spend the second half of his career helping other entrepreneurs maximise their businesses.
During our conversation, Mac explained why you should sell your business for Strategic Value rather than a multiple of your revenue or profits and why Strategic Value can be far higher than traditional models.
He outlines why the best buyers are unlikely to come from within your industry or sector and how to identify an ideal potential acquirer. He also shares the simple tool he recommends that you use for this - the Solid Gold Buyer Sheet.
He explains the importance of crafting your Irresistible Exit Story and how it can make all the difference when you find an ideal buyer for your company.
And don’t miss the part where he explains what he calls The 8 AM Test—it could make all the difference to your business, whether you sell or not.
This conversation offers so much value and insight. If you find it helpful, please return the favour by subscribing to the podcast and sharing it with anyone you think would benefit.
But now, ladies and gentlemen, I give you Mr Mac Lackey.
This is the first episode of 2025 and I’m delighted to bring you a really insightful and valuable conversation I had recently with Adam Rossi from Washington DC in the United States.
Adam is a born entrepreneur and always knew that he wanted to build his own company and be in control of his destiny. And so he launched a tech startup in the days before it was cool!
From a humble husband and wife team, he grew to a business selling billion-dollar software contracts to the CIA and all the main government agencies before receiving an offer he simply couldn't turn down, and he sold the company.
During our conversation, Adam talked about:
The entrepreneurial ‘X factor’ and what he sees in every successful founder - and what's missing in many others.
He talks about the importance of family in business and how to ensure your kids don’t become entitled once a lot of money is flying around.
He breaks down what he calls ‘Saturday Afternoon Syndrome’ when after you sell your business and don’t have much to do, every day feels like a fairly routine Saturday.
And he explained The Book of Wisdom - a charter of advice and guidance passed on from one exited entrepreneur to the next outlining what you must do to ensure a great life after you sell.
Tons of wisdom from an entrepreneur who’s carved out his own journey and is now happy to share in order to help others.
Welcome to the latest episode of the Bulletproof Entrepreneur - a podcast for founders, owners and aspiring entrepreneurs.
As anyone in business knows, things are tough out there. Inflation is driving up the costs of everything, including staff wages, rent, and supplies.
Tax is at its highest level in 70 years and is about to rise further. The money in your company's bank account is receiving a very modest return—and even that’s subject to tax!
I don’t know about you, but as a business owner myself, things feel a bit off—not quite right—and I wanted to learn more.
That took me to a short video called What's The Problem?, which is currently going viral online.
The video explains in easy-to-understand terms the problems the economy faces and the challenges for everyone, especially those trying to grow a company.
So, I was delighted when Joe Bryan, the film's creator, agreed to appear on the podcast, share the story, and explain why understanding it is essential.
Joe explains that our current monetary system is broken. We all experience this through constantly rising costs, which are a form of hidden tax when the pound in your pocket buys you less every year.
He outlines some of the biggest challenges faced by entrepreneurs as they try to build a business and succeed in an increasingly difficult economic environment.
He clearly outlines the solution and the precise steps you should take to protect your interests.
This is not a conversation about Bitcoin - it’s an invitation to learn more about the current economic model we all live in and decide how you want to protect yourself and your business.
It was a truly fascinating conversation and I know you're going to take a lot from it.
Don’t forget to sign up for my newsletter, where I take a deeper dive into all things business, wealth building and entrepreneurship - available at www.bulletproofentrepreneur.net
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