In this episode, Tom Griffiths is joined by Neil Ackroyd, founder of Precision Corporate Finance, to explore the realities of buying and selling businesses in the UK—particularly for owner-managed SMEs.

Neil shares his background in corporate finance, having qualified at KPMG before spending over 20 years advising on company sales. Rather than focusing on specific sectors, Neil champions a generalist approach, arguing that expertise in the sale process matters more than industry knowledge—especially as AI can now perform buyer research faster and more accurately than human analysts.

A major theme of the discussion is the flawed nature of the small business M&A market. Neil critiques many corporate finance brokers whose business models focus more on charging upfront fees than achieving successful outcomes, with some completing as few as 7% of deals. He explains how confidentiality, fear, and emotional complexity make business owners reluctant to discuss selling, likening it to the secrecy surrounding infidelity.

The conversation also addresses the harsh truth about business valuations: unless a company is generating at least £1 million in EBITDA, it is unlikely to be sellable—despite what many brokers promise. Neil highlights the lack of viable buyers for smaller firms, noting that trade and private equity buyers generally ignore businesses under £10 million in value.

To address this, Neil introduces two key initiatives: a diagnostic quiz for owner-managers ("Can I Sell My Business?") and Retire Today or Retire Tomorrow, a program offering transition or closure solutions for unsellable businesses.

Packed with practical advice and sharp insights, this episode is a must-listen for any business owner thinking about succession, exit, or the future of their company in a rapidly changing landscape.

To contact Neil: https://www.linkedin.com/in/neiljackroyd/

In this episode, Tom Griffiths is joined by Samuel Daughtry, founder of Buy Side Advisory, a consultancy that helps business owners grow through strategic acquisitions. Drawing on years of experience in financial services and private equity, Samuel shares a comprehensive overview of how and why business owners should consider buying other companies to expand.

The discussion begins with Samuel’s career journey, from working in post-acquisition roles in private equity to launching his own firm focused on helping entrepreneurs and business owners navigate the acquisition process. He explains that most of his clients are established business owners looking to grow faster or diversify their offerings by acquiring complementary businesses.

Throughout the conversation, Samuel explores why acquisitions can be more effective than relying solely on organic growth. He highlights the importance of buyer readiness—having the right internal structure, available cash, and management capacity—and contrasts this with what makes a business attractive to potential buyers, such as strong financial reporting, minimal owner reliance, and scalable operations.

Samuel also breaks down the acquisition process, covering everything from sourcing deals and conducting valuations to structuring offers and guiding clients through negotiations. He emphasises that deal origination is often the most time-consuming part, while valuation and deal structure require deep sector understanding and attention to detail. The episode also touches on common challenges, such as seller expectations and deferred payments, and how these can be managed with the right strategy.

Packed with practical advice and real-world insights, this episode offers a valuable guide for any business owner considering acquisition as a path to growth. Samuel’s experience and honest perspective provide a clear look at what it takes to succeed in buying businesses.

To Contact Samuel: https://www.linkedin.com/in/sam-daughtry-477941175/

In this episode, Tom Griffiths is joined by Mark Blacklee, founder of Kuro – a performance-driven PPC agency with over 16 years of experience helping businesses grow through strategic digital marketing. Mark shares his journey from starting Kuro with a business partner in a university incubator, to scaling it into a specialized performance agency focused solely on paid media.

The conversation delves into the challenges of running and scaling an agency, including the early mistakes Mark and his team made around pricing, hiring, and cash flow management. He reflects on how common it is for agency owners to focus on revenue growth, while ignoring profitability, capacity, and the operational structure needed to sustain long-term success. From over-servicing clients to delayed invoicing and undercharging, Mark candidly discusses lessons learned the hard way.

The discussion also explores the importance of understanding your business metrics — like hourly rates, delivery capacity, and client contribution — in making informed hiring and scaling decisions. Mark emphasizes that growth doesn’t just mean more clients or revenue; it’s about building a sustainable, profitable business with the right team and systems in place.

Looking ahead, Mark introduces BC24, a new venture focused on acquiring or partnering with agency owners who are looking to exit in the next 3–5 years. His aim is to create a collaborative performance marketing group that helps agency founders solve common operational bottlenecks, improve valuation, and ultimately prepare for a successful and profitable exit.

If you’re an agency owner thinking about succession planning, or simply want to hear real insights on scaling a service-based business, this episode offers plenty of actionable takeaways.

To Contact Mark: https://www.linkedin.com/in/markblacklee/

In this episode, Tom Griffiths speaks with Lloyd Thompson, founder of VirtualDOO and a seasoned fractional COO, about how small business owners can step out of daily operations and build more scalable, sellable companies.

Lloyd shares how his team helps businesses (typically with 5–25 employees) by embedding part-time operators who bring structure, accountability, and clarity. He discusses how his approach begins with an operations assessment—reviewing a company’s vision, values, team structures, systems, and feedback loops—to identify where founders are stuck and how to replace their involvement with effective processes and people.

Real-life examples highlight Lloyd’s broad experience across e-commerce, marketing agencies, and even field-based services like rope access. He explains the common pain points: operational chaos, unclear accountabilities, and business owners who struggle to delegate—especially around decision-making, sales, and key client relationships.

A strong focus is placed on measurable improvements. Lloyd outlines how simple dashboards can track essential business metrics—starting with basics like revenue, profit, and cash—and how choosing the right KPIs avoids incentivizing the wrong behaviors.

The conversation also explores exit readiness. Lloyd emphasizes that to sell a business successfully, it must function independently of the founder. His team often supports exit-focused owners by building systems and roles that transfer operational ownership.

Finally, Lloyd breaks down his month-to-month engagement model, designed to deliver value quickly, train internal staff, or prepare the business for a full-time COO hire. It's all about enabling freedom and flexibility while ensuring sustainable growth.

To Contact Lloyd: https://www.linkedin.com/in/lloydt/

In this episode, Tom Griffiths speaks with Gareth Hawkins, co-founder of BizCrunch, about preparing small and medium-sized businesses for successful exits and the critical role this plays in the broader UK economy.

Gareth shares his career journey—from growing a multi-business industrial group through acquisition and exiting to a Nordic holding company, to launching startups and investing in over 30 ventures. Now, with BizCrunch, he’s on a mission to digitally transform small business M&A and address the growing challenge of baby boomer-owned businesses lacking succession plans.

The conversation explores the looming “economic continuity risk” posed by the potential closure of hundreds of thousands of UK businesses owned by retirement-age founders. Gareth highlights the disconnect between the number of business owners intending to sell and the very small number of successful exits each year. He points to misaligned valuations, poor preparation, and founder dependency as the primary reasons most businesses fail to sell.

BizCrunch tackles this by streamlining the M&A process for both buyers and sellers. On the sell side, they offer tools and assessments to help owners get exit-ready—focusing on areas like operational independence, realistic valuations, and financial transparency. On the buy side, the platform connects acquisition entrepreneurs and investors with off-market, seller-verified opportunities, supported by a more cost-effective and efficient transaction process.

Gareth also shares practical advice for business owners on when and how to start preparing for an exit, including leveraging AI tools to document internal knowledge and ensuring at least 2–3 years of clean, credible financials.

This episode is a must-listen for anyone considering buying or selling a business in the next few years.

To Contact Gareth: https://www.linkedin.com/in/gareth-hawkins/

In this episode, Tom Griffiths sits down with Peter Clark, co-founder of RCK Partners, to demystify the often misunderstood world of R&D tax relief. RCK Partners is a specialist consultancy focused on helping companies access tax incentives—most notably R&D tax credits—while maintaining rigorous compliance standards.

Peter kicks off with an overview of RCK’s core services, which span R&D tax relief, capital allowances, land remediation relief, business rates, and the Patent Box regime. While R&D credits remain the primary focus, Peter explains how recent legislative changes are reshaping the landscape—particularly with the emergence of the new “MERGED” and “Enhanced R&D Intensive” schemes.

Listeners gain a clear understanding of what qualifies as R&D, how businesses can benefit, and how claim values vary depending on company size and profitability. Peter also outlines the types of companies RCK typically serves—ranging from innovative SMEs to global multinationals—and how client profiles are shifting in response to government policy.

A major highlight is RCK’s "compliance-first" philosophy. Peter details their unique framework for building robust claims, involving separate, independently incentivised compliance teams that rigorously review submissions before they go to HMRC.

He walks through their bespoke, end-to-end client framework—from initial consultations and on-site interviews to the final submission of claims—emphasising the importance of accuracy, documentation, and peace of mind.

The episode wraps up with a real-world client example, illustrating RCK’s comprehensive approach in practice. Peter reinforces why compliance is not just a requirement but a competitive advantage—providing clients with value, credibility, and, most importantly, reassurance.

To Contact Peter: https://www.linkedin.com/in/peter-clark-65852b3b/

In this episode, Tom Griffiths speaks with Chris Worden, founder of Director First Insolvency, to explore the often misunderstood world of insolvency, business turnaround, and director advisory services.

Chris shares his personal journey into the field—starting with his own business failure triggered by sudden government policy changes and a £200k bad debt. His frustration with the lack of clear, empathetic advice from insolvency practitioners led him to reshape the industry from the inside out. Today, Director First is one of the UK’s top-rated insolvency support firms, known for providing no-nonsense, jargon-free guidance to struggling directors.

The conversation highlights the key signs of insolvency—such as being unable to pay debts when due, a balance sheet with more liabilities than assets, or receiving legal actions like County Court Judgments or winding-up petitions. Chris explains when directors should seek help and how early intervention can dramatically change outcomes.

They discuss common director misconceptions, particularly the over-reliance on year-end accounts, which Chris bluntly compares to a “chocolate tea cosy”—useless for day-to-day decision-making. Instead, he stresses the need for real-time financial insight and forward-looking cash flow forecasting.

Chris also unpacks the difference between voluntary and compulsory liquidation, as well as how administration and "pre-pack" sales work in practice—balancing commercial outcomes, legal responsibilities, and director reputation.

Whether you're a business owner dealing with creditor pressure, HMRC arrears, or just sensing things are heading in the wrong direction, this episode provides crucial insights. Chris and his team offer free advice to help directors understand their position and options—often resolving issues long before formal insolvency is needed.

Contact Chris here: https://www.linkedin.com/in/chris-worden-01090b46/

In this episode, Tom sits down with Cliff Spolander, founder of Business by Design, to explore what it really takes to scale and successfully exit a business. With a background in the military and over 25 years of entrepreneurial experience—including buying, selling, franchising, and licensing businesses—Cliff brings real-world insights to a problem many business owners face: wanting to sell, but having an unsellable business.

Cliff explains why up to 90% of businesses listed for sale never sell, and outlines a structured approach to help owners reverse that outcome. From evaluating business value and risk profiles, to improving systems, financials, and leadership structure, he shares how he helps clients build businesses that are both sellable and valuable.

Key topics discussed:

• Why clean financials, clear reporting, and a simple cash flow forecast are critical for both growth and exit
• The importance of removing owner dependency and preparing management to run the business independently
• How to assess your wealth gap: the difference between what your business is worth now and what you need post-exit
• The psychological side of selling: why business owners often sabotage good deals due to uncertainty about life after exit
• Real-world examples of deals that fell through—or succeeded—based on proper planning and clarity
• Cliff’s approach to building a personalised “master action plan” using 90-day cycles to keep progress focused and manageable

Whether you're five years or one year away from exiting your business, Cliff emphasizes that the best time to start planning is now.

📩 Want to connect with Cliff or learn more? Visit businessbydesign.co.uk or find him on LinkedIn: https://www.linkedin.com/in/cliffspolander/

In this episode, we sit down with Simon Ogilvie-Harris, CCO of Dwood Kitchens UK, to explore how a multi-generational family business founded in Istanbul is expanding into the UK with a premium yet competitively priced kitchen offering. Simon shares his journey from leading consumer goods businesses to spearheading the UK arm of Dwood Kitchens and bringing high-end, custom kitchens to both private and commercial clients.

Simon explains how Dwood’s unique value proposition—bespoke, high-quality kitchens manufactured in their own factory in Turkey—allows them to offer Italian- and German-level quality at significantly better prices. He dives into their flexible design-supply-fit model, highlighting how the company works with a range of partners, including interior designers, architects, property developers, and contractors.

We explore real-world project examples, from a dream kitchen for a private client in Watford to multi-unit residential schemes in and outside the UK. Simon also shares how Dwood manages complex supply chains, finances, and cash flow across multiple markets while maintaining a customer-first approach.

Looking ahead to 2025 and beyond, Simon discusses plans to open a London showroom, expand the UK team, and further grow their international project pipeline. He also highlights the importance of long-term relationship building in the property and construction sectors.

Whether you're a homeowner looking for a premium kitchen, a contractor seeking a reliable supplier, or a developer working on large-scale projects, this episode offers valuable insights into what makes Dwood Kitchens stand out.

Get in touch with Simon: https://www.linkedin.com/in/simon-ogilvie-harris-7b607514/

In this episode, Tom chats with Lien de Pau, founder and CEO of The Big Exit, about one of the most overlooked aspects of small business ownership—preparing your business for sale.

Lien shares why the majority of businesses don’t sell, and what owners can do years in advance to increase their chances of not just selling, but achieving a big exit.

Drawing on her own entrepreneurial journey and work with founders across industries, Lien breaks down the key steps to creating an exit-ready business. From understanding how buyers assess value to removing owner dependency, she explains why sellability depends on much more than just top-line revenue.

Topics explored in this episode include:

• Why 9 out of 10 businesses listed for sale don’t actually sell
• The importance of viewing your business as an asset, not just an income source
• How to reduce owner dependence to make your business more attractive to buyers
• What “maintenance” means—from clean financials to documented systems
• Common mistakes that cause deals to fall through during due diligence
• How to balance short-term profitability with long-term exit value

Lien also introduces her Seven-Figure Exit Program, designed to help business owners get a valuation, assess exit readiness, and build a personalised action plan for maximising their business value.

Whether you’re planning to sell in one year or ten, this episode is packed with actionable insights to help you take control of your future and prepare for a successful exit.

📩 Check the show notes for free tools, including Lien’s valuation calculator and exit readiness quiz, and links to connect with her directly: https://www.linkedin.com/in/liendepau/