7 Figure Leaders

In this episode Tom Griffiths sits down with Eric Lewis, the founder and managing director of Vocallity Group, a B2B telecoms provider. Eric shares his journey from engineering and technology to leading a successful telecom company, emphasising the transformative power of VoIP (Voice over Internet Protocol) systems.

Introduction to Eric Lewis and Vocallity Group:

Eric begins by introducing himself and Vocallity Group, highlighting the company’s unique approach to telecom services. Unlike traditional providers, Vocallity integrates telecom solutions into broader business strategies, enhancing sales, productivity, and customer engagement.

The Journey to Vocallity:

Eric recounts his transition from business consultancy to telecom, spurred by a need to help a struggling networking company. This led him to embrace VoIP technology early on, founding Vocallity and partnering with Telco Switch to become their premier reseller.

Target Clients and Customised Solutions:

Eric explains that Vocallity caters to a diverse range of clients, from sole traders to large corporations. The company’s strength lies in understanding each client’s specific needs and tailoring telecom solutions to fit seamlessly into their business operations, whether they are office-based or mobile.

Benefits of VoIP Systems:

VoIP systems offer significant advantages over traditional mobile phones, such as separating business and personal communications, automated call recordings, and enhanced call routing. Eric emphasizes the importance of integrating VoIP with CRM systems to improve efficiency and customer interaction.

Global Reach and Challenges:

Vocallity serves clients internationally, with customers spanning from India to the Bahamas. Eric discusses the challenges of educating businesses about VoIP, especially with the impending switch-off of traditional telephony in favor of fiber-optic broadband by January 2027.

Customer Acquisition and Growth:

Eric attributes Vocallity’s growth to referrals, underscoring the company’s commitment to exceptional customer service. He also shares insights into managing sustainable growth, ensuring the company can meet increasing demand without compromising service quality.

Financial Management and Future Plans:

Eric stresses the importance of diligent financial management, including cash flow forecasting and maintaining profitability. He advocates for steady, manageable growth and staying on top of finances, especially when seeking external investment.

Advice for Business Owners:

Eric advises business owners to develop and regularly review a business plan, whether seeking investment or not. He highlights the necessity of clear financial planning and investor communication to ensure sustainable growth and success.

Get in touch with Eric:

• Vocallity.com

In this episode, Tom Griffiths hosts Lewis Casserley, the founder and principal of Albatross Lending Group, to delve into the intricacies of the specialist lending industry, the inception of Albatross, and its journey to becoming a reputable name in bridging finance.

Introduction to Albatross Lending Group

• Albatross Lending Group was established in March 2020 with a clear mission to disrupt the bridging finance sector, which emerged post-2008 banking crisis. Lewis highlights their goal to bring transparency and a fair approach to specialist lending.
• Bridging finance provides short-term solutions for commercial borrowers, particularly useful for quick property transactions where traditional mortgages are too slow or inapplicable.

Unique Offerings and Services

• Albatross offers rapid financing solutions, including a 48-hour rescue product for urgent needs. They support various transactions from quick purchases to development and refurbishment projects.
• The company not only provides the loan but also manages the transaction throughout its term, ensuring clients receive continuous support until the loan's completion.

Challenges and Growth

• Lewis shares the challenges faced as young entrepreneurs in a sophisticated market, emphasizing the importance of surrounding oneself with experienced and supportive individuals.
• Initially presenting themselves as brokers, Lewis and his partner Jordan learned from industry competitors and developed a robust business plan, ultimately securing funding through relentless networking and sales efforts.

Business Philosophy and Future Plans

• Albatross prides itself on honesty, reliability, and maintaining strong relationships with brokers and borrowers. Their commitment to not letting clients down is a key differentiator.
• Rather than aggressively expanding through high-risk strategies, Albatross focuses on sustainable growth by creating their own funding lines. This approach aims to retain control over lending decisions and maintain their reputation for reliability.

Get in touch with Lewis

• https://www.linkedin.com/in/lewis-casserley-93bb6163/
• https://albatrosslending.co.uk/

In this episode, Tom Griffiths sits down with Darryl Bates-Brownsword, founder of Succession Plus, to discuss the crucial steps business owners need to take to prepare for a successful exit. Darryl, with a rich background in mechanical engineering and management consulting, shares his journey from Australia to the UK and his passion for helping SMEs build sustainable businesses.

Main Topics Discussed:

• Darryl's Background:
  • Darryl's transition from mechanical engineering to management consulting.
  • His move from Australia to the UK and the founding of Succession Plus.
  
  
• Understanding Earnouts:
  • Definition and common structures of earnouts in business sales.
  • Potential pitfalls and why business owners should be cautious about earnouts.
  • Strategies to mitigate risks associated with earnouts.
  
  
• Preparing for Exit:
  • Importance of starting exit preparations 2-3 years in advance.
  • Key steps to make a business sellable: reducing owner dependence, tidying up financials, and enhancing intangible assets.
  • Common reasons why businesses fail to sell and how to address these issues.
  
  
• Valuation Factors:
  • How business valuation is influenced by profit, risk, and intangible assets.
  • Examples illustrating how diversified revenue streams and strong management can increase a business's value.
  
  
• The Role of Advisors:
  • The importance of a team of advisors, including financial planners, corporate lawyers, and M&A specialists, in the exit process.
  • How these advisors contribute to maximizing business value and ensuring a smooth sale.
  
  
• Succession Plus Services:
  • Overview of the services provided by Succession Plus to help business owners prepare for exit.
  • Introduction to a free online assessment tool that evaluates a business's sellability.
  
  

Key Takeaways:

• Business owners need to start planning their exit well in advance, ideally several years before they intend to sell.
• Reducing owner dependence and ensuring clean financial records are critical to making a business attractive to buyers.
• A diversified and sustainable revenue stream can significantly increase the value of a business.
• Having the right team of advisors can make a substantial difference in achieving a successful sale.

Get in touch with Darryl:

• https://succession.plus/uk/
• https://www.linkedin.com/in/darrylbates-brownsword/

In this episode, Tom Griffiths interviews Joanne Bell, the founder and managing director of Bell’s Accountants. Joanne shares her inspiring journey and how she built her successful accounting firm, providing valuable insights into business growth, challenges, and the importance of strategic planning.

Main Topics Discussed:

• Background and Business Foundation:
  • Joanne recounts her unexpected path to founding Bell’s Accountants, starting from personal debt during the 2008 financial crisis. She describes how she began by helping individuals with tax assessments, leading to organic business growth through word-of-mouth and strategic mentorship.
  
  
• Business Growth and Current Status:
  • Bell’s Accountants has expanded to 38 staff across five locations, with plans to consolidate due to increased remote work. Joanne emphasises her role in consultancy, leveraging her experience to assist clients in business growth and acquisitions.
  
  
• Challenges in Scaling a Business:
  • Maintaining personal service quality during expansion.
  • Managing acquisitions and integrating new clients and staff.
  • Joanne highlights the importance of having dedicated account managers to ensure personalised client interactions.
  
  
• Future Plans:
  • Joanne aims to become the first sole female director to enter the top 100 accountancy firms in the UK. She discusses balancing business ambitions with personal responsibilities, such as family.
  
  
• Client Advisory and Common Issues:
  • Distinguishing between basic compliance accounting and the need for in-depth financial analysis and advisory services.
  • Educating clients on financial management, including understanding different financial statements and cash flow management.
  
  
• Bookkeeping and Tax Management:
  • The importance of outsourcing bookkeeping for quality control and continuity.
  • Common tax mistakes, such as letting tax considerations drive business decisions and not setting aside funds for tax liabilities.
  • Joanne advises on strategic tax planning, including the benefits of pension contributions and proper timing for asset purchases.
  
  

Get in touch with Joanne:

• https://www.linkedin.com/in/belljoanne/
• http://www.bellsaccountants.co.uk

In this episode, Tom Griffiths interviews Steve Lawrence, the visionary behind Uncomplicated Group, a company dedicated to acquiring and optimising small manufacturing businesses, particularly in the injection molding sector.

Key Topics:

1. Steve's Journey and Background: Steve shares his career progression from an order processor to middle management in a major American manufacturing firm. His experience in streamlining factory operations inspired him to create Uncomplicated Group. Steve discusses how he saw an opportunity in the UK market, where many business owners nearing retirement lack successors or viable exit strategies.
2. The Acquisition Process: Steve outlines his approach to identifying and acquiring businesses. He emphasises the importance of focusing on small injection molding companies and explains the typical challenges he faces during acquisitions, such as over-reliance on the owner, poor financial documentation, and lack of standardised processes.
3. Challenges with Acquisitions: Steve provides insights into the difficulties of acquiring businesses that are often deeply entwined with their owners. He highlights the need for potential sellers to understand realistic valuations and the importance of preparing their businesses for sale well in advance.
4. Optimising Acquired Businesses: Steve describes his first acquisition, a Manchester-based company, and the efforts undertaken to modernise and streamline operations. He shares strategies for improving financial controls, establishing standard operating procedures, and building a competent management team.
5. Advice for Business Owners: Steve offers valuable advice for business owners looking to make their companies more attractive to buyers. Key recommendations include reducing dependency on the owner, documenting processes, improving financial management, and planning early for an eventual sale.
6. Market Realities and Seller Expectations: A significant portion of the discussion focuses on the mismatch between seller expectations and market realities. Steve stresses the importance of education and early preparation to ensure a smoother transition and more favorable outcomes for both sellers and buyers.

Get in touch with Steve:

• https://www.linkedin.com/in/uncomplicatedsteve/
• https://www.uncomplicatedgroup.co.uk/

In this episode, Tom Griffiths sits down with Gary Smith from Venture Corporate Finance to discuss the intricacies of buying and selling businesses. With a professional background in business growth and turnarounds, Gary brings a wealth of experience to the table. Here are the main topics explored in this episode:

1. Introduction to Venture Corporate Finance:

• Gary provides an overview of Venture Corporate Finance, highlighting their focus on supporting business owners with turnovers ranging from £1 million to £40 million.
• The firm’s unique approach includes a no-cost, no-commitment initial review to assess business readiness for sale or fundraising.

2. The Market:

• Discussion on how the market has evolved, with buyers now coming from global markets, not just the UK.

3. The Process:

• Gary explains the firm's process, which starts with a comprehensive transaction-based review to understand the business’s value and readiness for sale.
• Emphasis on transparency and setting realistic expectations for clients regarding business valuation and due diligence readiness.

4. Challenges and Solutions:

• Addressing common issues that make businesses unsellable, such as tax or legal problems, and the lack of accurate financial information.
• The importance of preparation and having accurate financial data and robust business processes to attract potential buyers.

5. Strategic Growth and Future Plans:

• Venture Corporate Finance's growth from a startup to a leading advisor within four years.
• Plans to expand into other sectors while maintaining a strong presence in the IT and telecom markets.

6. Practical Advice for Business Owners:

• Gary offers advice to business owners considering selling their businesses in the next few years, stressing the importance of early preparation.
• The value of having a detailed understanding of one’s business, including financial readiness and market positioning, to maximize sale outcomes.

Get in touch with Gary:

• https://www.linkedin.com/in/gary-smith-5192bb14/
• https://venturecorporatefinance.com/

In this episode, Tom Griffiths interviews Charlie Thwaites, co-founder of Thwaites Capital, an FX brokerage based in London. The conversation dives into the origins, services, and future plans of Thwaites Capital, providing valuable insights for individuals and businesses involved in foreign exchange.

Key Topics Discussed:

Background and Services of Thwaites Capital:

Charlie provides an overview of Thwaites Capital, established three years ago to offer a boutique FX brokerage service. The firm assists a diverse clientele, including individuals purchasing overseas properties and businesses of various sizes needing to exchange currencies for global operations.

Examples include helping UK clients buy properties in France and assisting startups and medium-sized businesses with currency exchange needs.

Unique Approach and Client Focus:

Thwaites Capital differentiates itself by offering a personalised service focused on long-term client relationships rather than just providing competitive rates.

Charlie emphasises the importance of understanding clients' needs, particularly in utilising FX platforms and managing risks associated with currency exchange.

Challenges and Learnings from Entrepreneurship:

Charlie shares his journey from a salesman to co-founding his own business, highlighting the challenges of entrepreneurship, such as the constant need for innovation and the difficulty of switching off from work.

Practical advice is offered on managing work-life balance, including turning phones to black and white to reduce screen time.

Future Plans and Expansion:

Thwaites Capital plans to expand its services, particularly in helping businesses set up in new markets like Dubai. This includes assisting with visas, business licenses, accounting, and currency accounts.

Charlie explains the motivation behind this expansion, driven by client demand and the favorable business environment in Dubai.

Advice for Businesses on Foreign Exchange:

Charlie advises businesses to seek out brokers who offer more than just competitive rates, emphasizing the value of service and expertise in managing FX needs.

Get in touch with Charlie:

• https://www.thwaytescapitalgroup.co.uk/
• https://www.linkedin.com/in/charles-thwaytes-02065243/

In this episode, Tom Griffiths sits down with Brij Thankey, the founder of Precision Facilities Management, to discuss the journey of building a successful facilities management company. Brij shares insights into the company's growth, the importance of customer service, and the challenges faced along the way. Below are the main topics discussed:

1. Building Precision Facilities Management:

Brij provides a detailed account of how he built Precision Facilities Management from a small team to an international operation. He highlights the importance of agility, customer focus, and the ability to expand services based on client needs. Brij emphasizes the role of customer retention and how their high customer retention rate is a testament to their excellent service and strong company culture.

2. Importance of Company Culture and Customer Service:

The conversation dives into the core values that drive Precision's success. Brij explains how a culture of helping and improving both employees and clients is vital. This culture ensures high-quality customer service and has been crucial in navigating challenges, especially during the COVID-19 pandemic. Brij shares his personal involvement in mentoring and self-improvement, which cascades down to his team, fostering a supportive and client-centric environment.

3. Challenges in Growth and Expansion:

Brij discusses the challenges of scaling a business, such as attracting the right talent, managing finances, and maintaining service quality. He talks about the creative financial strategies they've employed and the importance of having a strong support network. Brij also touches on the difficulties of convincing large clients to trust a smaller firm and the persistence required to succeed.

4. Future Plans and International Expansion:

Looking ahead, Brij outlines Precision's plans for further growth, including international expansion and potential mergers and acquisitions. He mentions their recent success with a major contract from GlaxoSmithKline and their intentions to enter the Middle Eastern market. Brij is enthusiastic about future collaborations and joint ventures, particularly in sectors like security, M&E (Mechanical & Electrical), and water management.

Connect with Brij Thankey:

Linkedin: https://www.linkedin.com/in/brij-thankey-4848a51b/

Website: https://www.precisionfm.co.uk/

In this episode, Tom Griffiths interviews Colin Gallagher, a LinkedIn marketing specialist, to delve into the intricacies of leveraging LinkedIn for business growth. Colin shares his unconventional journey from civil engineering to becoming a LinkedIn ghostwriter and growth consultant, highlighting the lessons learned and strategies developed along the way.

Main Topics Discussed:

Background and Journey to LinkedIn Marketing:

Colin discusses his transition from civil engineering to social media marketing, driven by a desire to find fulfilling work. He narrates his experiences of starting and failing in various businesses, eventually finding success in social media and LinkedIn marketing.

Colin outlines the services he provides to clients, focusing on two main types: full management for CEOs and consulting packages for other professionals. He explains the value of these services in helping businesses build their audience and attract clients through strategic content creation on LinkedIn.

LinkedIn Algorithm and Content Strategy:

The conversation covers recent changes in the LinkedIn algorithm, making it harder for new content creators to gain visibility. Colin emphasises the importance of targeted outreach and creating valuable content that directly addresses the problems of the intended audience.

Challenges and Lessons Learned:

Colin shares the challenges he faced in his early ventures, particularly in managing finances and understanding business models. He recounts a specific experience in Australia where poor cash flow management led to significant stress and business failure, reinforcing the lesson that "cash is king."

Advice for LinkedIn Success:

For listeners looking to improve their LinkedIn presence, Colin advises optimizing profiles, understanding customer needs, and consistently posting content that showcases the ability to solve those needs. He underscores the importance of persistence and strategic content delivery.

Contact Information:

• LinkedIn: Colin Gallagher
• Website: linkedinaimastery.com

In this episode, Tom Griffiths sits down with Graham Stephen, co-founder of BizVal, to discuss the innovative solutions his company offers for business valuations and strategic planning for entrepreneurs.

Key Topics Discussed:

1. Introduction to BizVal:

BizVal was founded two years ago to provide affordable and comprehensive business valuations.

Graham shares the backstory of transitioning from a corporate role to starting BizVal and partnering with his former client.

The core mission of BizVal is to help business owners understand and unlock the value of their businesses.

2. Challenges for Small Business Owners:

Many business owners lack clarity on their business's value and future plans.

The conventional wisdom about business valuation often leads to misconceptions.

BizVal aims to fill the gap left by both smaller accounting firms and expensive larger firms.

3. The Importance of Business Valuation:

Valuations are crucial not only when selling but as a regular health check for the business.

Graham emphasises the necessity of understanding key drivers of business value early in the business lifecycle.

4. BizVal’s Approach and Tools:

BizVal combines advanced investment banking theories with user-friendly technology.

The platform offers various services, from basic valuations to detailed exit readiness assessments.

Graham highlights the value of engaging with their tools early and regularly to prepare for eventualities like sale or partner buyouts.

5. Real-life Stories and Impact:

Graham shares compelling anecdotes illustrating the importance of proper valuation, including a case where a business’s true value was found to be significantly higher than an initial offer.

These stories underscore BizVal's impact in helping entrepreneurs make informed decisions.

6. Global Reach and Ambitions:

BizVal is designed to serve a global market, with a particular focus on English-speaking regions.

The company utilises a "tech and touch" model, blending technology with personal engagement to deliver their services.

7. How to Engage with BizVal:

Graham invites business owners to visit BizVal's website and reach out via LinkedIn or email for more information.

He encourages entrepreneurs to explore BizVal's offerings without any obligation, emphasizing their commitment to supporting business growth and success.

To get in touch with Graham:

Website: bizvalglobal.com

Email: [email protected]

LinkedIn: https://www.linkedin.com/in/graham-stephen/