Is your business too dependent on you? 

Far too many companies are lifestyle businesses that would fall apart without the owner. 

This can jeopardise your exit, so detaching yourself from working in the business is essential. 

In this episode I am joined by Michèle Hecken, who built, operated, scaled, and exited a successful business in the translation industry. After completing a high-7-figure exit she now serves as an Advisor to high performers wanting to run businesses that serve them and live lives they dream of. 

She shares how she scaled and exited her translation company, learning the art of off-boarding as she went. She also gives strategies you can use to create a business that can operate independently of you. 

Off-boarding tasks and jobs can maximise the value of your exits. 

So, let’s hear from Michèle! 

"The art of off-boarding is a game changer" - Michèle Hecken 

Timestamps 

01:29 - An introduction to Michèle Hecken 

03:20 - Working on the business not in it 

05:26 - How Julie stopped working in her business 

10:23 - Julie's story developing her business 

12:47 - The steps Michèle took to step back in her business  

18:33 - The problems with service-based businesses  

26:11 - Focusing on governance and controls 

33:59 - The power of the finance team 

36:23 - Tying systems to KPIs 

Connect with Michèle Hecken: 

LinkedIn - https://www.linkedin.com/in/michelehecken/ 

Michèle’s website - https://www.michelehecken.com/ 

Instagram - https://www.instagram.com/mhecken/ 

Facebook - https://www.facebook.com/mhecken/ 

Check out special Michèle's offer just for you the Build & Exit listeners!

https://api.leadconnectorhq.com/widget/bookings/buildandexit/podcast/special/offer

Connect With Julie Wilkinson 

LinkedIn - https://www.linkedin.com/in/juliewilkinson-accounting/ 

Tik Tok – https://www.tiktok.com/@wasolutions  

YouTube - https://www.youtube.com/channel/UCUvq6gfNoP_4dfIJulL6C6A  

Facebook - https://www.facebook.com/wilkinsonaccountingsolutions 

Website - https://wilkinsonaccountingsolutions.co.uk/ 

Before you go, don’t forget to leave a comment and review if you got something out of this episode!  

How does it feel to sell your business to a multinational chain?

Edin Basic did just that. Building his chain of restaurants up to 17 sites before selling it to Pizza Express.

But when the deal was done, he didn’t go out celebrating, he was left with the feeling of “was that it?”

For him the journey of building the business had been the real enjoyment of the whole process. He talks candidly about how he felt at every step of the way and afterwards. He shares the complexities of exiting as well as the importance of preparation and governance.

Edin emphasizes the significance of understanding the market dynamics and being ready for unexpected changes that can influence your decision of when is best to make the deal.

Now helping other business owners with their own growth and exit strategies there is a lot to learn from Edin.

"It's all about the journey rather than the destination." – Edin Basic

Timestamps

 01:05 - An introduction to Edin

03:06 - Scaling to exit position

07:28 - Getting clear about what you want

13:25 - How did the exit with Pizza Express happen?

18:36 - Knowing the right time to exit

22:25 - How Edin felt after selling

25:55 - Did the deal change before the end?

32:03 - The emotional side of selling a business

37:04 - Working after the exit

Connect with Edin Basic:

LinkedIn - https://www.linkedin.com/in/edinbasic-help-food-and-beverage-founders-grow-and-exit-their-business/

We Amplify - https://we-amplify.co/

Connect With Julie Wilkinson

LinkedIn - https://www.linkedin.com/in/juliewilkinson-accounting/

Tik Tok – https://www.tiktok.com/@wasolutions

YouTube - https://www.youtube.com/channel/UCUvq6gfNoP_4dfIJulL6C6A

Facebook - https://www.facebook.com/wilkinsonaccountingsolutions

Website - https://wilkinsonaccountingsolutions.co.uk/

Before you go, don’t forget to leave a comment and review if you got something out of this episode!

Are you intentional about scaling your business for exit?

So many organic business owners don’t have a plan and don’t know what the end goal is. If they did their loved ones would thank them so much more for doing things right when things passed onto them.

In this episode I speak with Rachel Murphy, a two-time exit founder, about her entrepreneurial journey and 8x multiplier exit.

Rachel gives insight into the importance of intentional business scaling, and the challenges and opportunities faced during the COVID-19 pandemic. She also emphasizes the need for better exit strategies and support services for business owners, particularly female founders.

So there is a lot to learn from Rachel otherwise known as “The Legend”.

"I was really clear and intentional that it was going to be an in and out in five years." – Rachel Murphy

Timestamps

01:13 - Rachel's background in business exits

03:13 - Was Rachel always going to sell her business?

05:47 - The end intentions of organic business owners

10:56 - Getting the staff on board during acquisitions

14:36 - The opportunities brought by Covid

18:49 - The exit from the 8x multiplier

22:23 - Rachel's view on the exit planning market

29:34 - Entrepreneurship through acquisition

Connect with Rachel Murphy:

LinkedIn - https://www.linkedin.com/in/rachthegrafter/

The Grafter - https://thegrafter.com/

Rachel’s Linktree - https://linktr.ee/RachMurphy

Connect With Julie Wilkinson

LinkedIn - https://www.linkedin.com/in/juliewilkinson-accounting/

Tik Tok – https://www.tiktok.com/@wasolutions

YouTube - https://www.youtube.com/channel/UCUvq6gfNoP_4dfIJulL6C6A

Facebook - https://www.facebook.com/wilkinsonaccountingsolutions

Website - https://wilkinsonaccountingsolutions.co.uk/

Before you go, don’t forget to leave a comment and review if you got something out of this episode!

Have you considered becoming an investor?

The mindset you need differs significantly from being an operator of the business. One that my guest in this episode, Taha Afshar explores with us.

Taha started his journey working in a family-run tea business to then make the shifts needed to diversify their income. He shares his experiences moving to the world of investments. Where he has now successfully acquired and managed multiple businesses.

Taha delves into the importance of diversification in investment portfolios, the challenges of navigating the acquisition process, and the strategies for managing acquired businesses.

With this approach to investments as a form of diversification Taha has given his family a solid foundation for future growth.

“I had a 115% return in the first year.” – Taha Afshar

Timestamps

 01:10 - An introduction to Taha

02:16 - Why Taha decided to diversify

08:47 - How Taha found the first business he bought

12:05 - Taha's experience in the sector he bought

13:32 - Acquisition number 2

18:20 - Does Taha work full time in investments?

20:47 - Getting the systems and processes right

25:20 - Evolving and learning

29:22 - Has investing given Taha what he wanted?

Connect with Taha Afshar:

LinkedIn - https://www.linkedin.com/in/tahaafshar/

X - https://twitter.com/tahaafshar?lang=en-GB

Connect With Julie Wilkinson

LinkedIn - https://www.linkedin.com/in/juliewilkinson-accounting/

Tik Tok – https://www.tiktok.com/@wasolutions

YouTube - https://www.youtube.com/channel/UCUvq6gfNoP_4dfIJulL6C6A

Facebook - https://www.facebook.com/wilkinsonaccountingsolutions

Website - https://wilkinsonaccountingsolutions.co.uk/

Before you go, don’t forget to leave a comment and review if you got something out of this episode!

The journey to business owner is never straight forward.

In this episode that journey started due to my guest, David Longford, taking over the business from the owner just before he passed away.

This transition from employee to business owner required respect and a focus on the long-term growth of the business. David talks about the process involved in taking over from an owner in these difficult circumstances.

David shares how he successfully exited without an earn-out and avoided insolvency. He also highlights the need for clear communication and trust-building with potential buyers during the exit process.

This episode provides valuable insights into the acquisition and exit journey.

“You’ve just got to recognise your weaknesses” – David Longford

Timestamps

 01:13 - An introduction to David

02:34 - Transitioning from employee to buyer

05:54 - How David got the company shares

10:34 - The pressures you put on yourself as a new CEO

13:07 - Why no money down deals don't work

21:15 - The key thing in David's exit process

28:25 - What the sale structure looked like

Connect with David Longford:

LinkedIn - https://www.linkedin.com/in/longford/

Connect With Julie Wilkinson

LinkedIn - https://www.linkedin.com/in/juliewilkinson-accounting/

Tik Tok – https://www.tiktok.com/@wasolutions

YouTube - https://www.youtube.com/channel/UCUvq6gfNoP_4dfIJulL6C6A

Facebook - https://www.facebook.com/wilkinsonaccountingsolutions

Website - https://wilkinsonaccountingsolutions.co.uk/

Before you go, don’t forget to leave a comment and review if you got something out of this episode!

How can customer service affect your business sale?

Buyers looking at your business would have more confidence in their investment if they saw customer satisfaction was high. So, making sure you not only have satisfied customers but evidencing it is key.

In this episode I am joined by customer service expert Geoff Ramm. He is the creator and author of Celebrity Service & Celebrity Service Superstars. And has challenged and inspired audiences across 50 countries, to create award-winning ideas to outperform the competition.

Geoff shares ideas to take your customer service not only to the next level but to the heights you would go to if you were serving your celebrity idol. This not only impacts the success of your business but will give you an advantage when selling it.

This episode is full of great ideas to improve the lasting impression you have on your customers.

“What sort of service would you deliver if a celebrity would walk through your doors today?"  – Geoff Ramm

Timestamps

 01:09 - An introduction to Geoff

02:46 - How would you rate your service?

06:57 - Having the same excitement for all customers

11:00 - Staff and the customer service equation

20:39 - Using customer service in selling businesses

25:33 - Recognition from the customers

Connect with Geoff Ramm:

 LinkedIn - https://www.linkedin.com/in/customerservicespeaker/

Facebook - https://www.facebook.com/geoff.ramm.5

X - https://x.com/GeoffRamm

YouTube - https://www.youtube.com/@geofframm

Geoff’s website - https://www.geofframm.com/

Connect With Julie Wilkinson

LinkedIn - https://www.linkedin.com/in/juliewilkinson-accounting/

Tik Tok – https://www.tiktok.com/@wasolutions

YouTube - https://www.youtube.com/channel/UCUvq6gfNoP_4dfIJulL6C6A

Facebook - https://www.facebook.com/wilkinsonaccountingsolutions

Website - https://wilkinsonaccountingsolutions.co.uk/

Before you go, don’t forget to leave a comment and review if you got something out of this episode!

Have you planned for the worst?

Imagine you’re at death’s door and know you have no plan for what will happen to your business if you die.

This is the exact experience one of my guest’s clients faced. And the worst did happen. Sadly, she passed with no plan for what would happen to the business once she was gone. Not a situation anyone wants to find themselves in.

In this episode I am joined by Paula Wingate, who is dedicated to helping 7 figure hardworking women unleash their explosive business potential without feeling overwhelmed or sacrificing their life in the process.

She shares stories that will make you think twice about your own business planning. She also turns the tables and interviews me about my own journey scaling Wilkinson Accounting Solutions, how to price right from the start and what every business owner should be doing to sell their business at maximum value.

There is a lot to learn from this one so get ready!

“Sometimes you've got to get that slap in the face to say, is this worth it?"  – Paula Wingate

Timestamps

01:23 – Introduction to Paula                                                                       

02:08 - 7 figure tragedies in exits                                          

06:56 - Going from 100 to 40 hours work a week                                        

12:20 - Julie's journey employing others

16:50 - What would Julie do differently?

22:52 - Paying for the right people

26:58 - Pricing wrong from the start

36:12 - How Julie makes 3.5 return from expenses

42:41 - How to sell your business at max value

Connect with Paula Wingate:

LinkedIn - https://www.linkedin.com/in/7figurebusinesscoach/

Influential Minds - https://www.influentialminds.co.uk/

Connect With Julie Wilkinson

LinkedIn - https://www.linkedin.com/in/juliewilkinson-accounting/

Tik Tok – https://www.tiktok.com/@wasolutions

YouTube - https://www.youtube.com/channel/UCUvq6gfNoP_4dfIJulL6C6A

Facebook - https://www.facebook.com/wilkinsonaccountingsolutions

Website - https://wilkinsonaccountingsolutions.co.uk/

Before you go, don’t forget to leave a comment and review if you got something out of this episode!

What would you do to make your business a success?

Would it include jumping from a broken-down train to hitch hike to a product pitch?

Well, that’s what my guest in this episode did for an idea that didn’t even work out. Todd Sullivan grew up in an entrepreneurial household and has lived this way ever since. He is the CEO and Managing Partner of Exitwise, a company that helps businesses sell.

Todd shares some of the incredible ups and downs he has faced including a failed exit that resulted in losing all his staff and suppliers. After rebuilding he was able to go on to sell multiple other businesses. He also shares his entrepreneurial story including the incredible mission he and his brother went on to pitch to Toys ‘R’ Us.

Todd shares his advice to aspiring entrepreneurs as well as the challenges of the M&A process and the importance of surrounding oneself with the right advice

“The entrepreneurial journey is a complete emotional and financial roller coaster” – Todd Sullivan

Timestamps

01:55 - An introduction to Todd

03:48 - Todd on an exit falling through

06:45 - How Todd got through the difficult times

12:18 - Jumping from a train to meet Toys 'R' Us

19:22 - Todd's journey to entrepreneurship

22:15 - Todd's advice for entrepreneurs

25:02 - How Julie got into entrepreneurship

Connect with Todd Sullivan:

LinkedIn - https://www.linkedin.com/in/toddfsullivan/

Exitwise on LinkedIn - https://www.linkedin.com/company/exitwise/

Exitwise - https://exitwise.com/

Connect With Julie Wilkinson

LinkedIn - https://www.linkedin.com/in/juliewilkinson-accounting/

Tik Tok – https://www.tiktok.com/@wasolutions

YouTube - https://www.youtube.com/channel/UCUvq6gfNoP_4dfIJulL6C6A

Facebook - https://www.facebook.com/wilkinsonaccountingsolutions

Website - https://wilkinsonaccountingsolutions.co.uk/

Before you go, don’t forget to leave a comment and review if you got something out of this episode!

Selling a business comes with risks, but the buyer tyring to swindle you right at the end would challenge anyone’s nerve.

My guest in this episode, Sam Oliver, shares his experience of successfully selling his business and going through an earn-out clause. He discusses the challenges he faced when the buyer suddenly changed the processes at the last moment.

He shares what happened with disputes over the deferred consideration and the lengthy and costly process of resolving them. He also provides insights into what he would have done differently to protect himself and offers advice for other entrepreneurs going through similar situations.

“I thought they wouldn’t want to fire me, piss me off, and give me a shit offer” – Sam Oliver

Timestamps

02:08 - An introduction to Sam

02:53 - Did Sam plan to have an exit?

06:34 - Growing a company to 37% market share

11:57 - Why did the earn out go wrong?

14:25 - How did Sam challenge low payments?

21:14 - Could Sam have done anything differently?

24:49 - Why did the buyer have this strategy?

27:09 - Sam's new venture Openfi

Connect with Sam Oliver:

LinkedIn - https://www.linkedin.com/in/sam0liver/

OpenFi - https://www.openfi.tech/

Lead Pro - https://www.lead.pro/

Advance To Go - https://www.advancetogo.com/

Connect With Julie Wilkinson

LinkedIn - https://www.linkedin.com/in/juliewilkinson-accounting/

Tik Tok – https://www.tiktok.com/@wasolutions

YouTube - https://www.youtube.com/channel/UCUvq6gfNoP_4dfIJulL6C6A

Facebook - https://www.facebook.com/wilkinsonaccountingsolutions

Website - https://wilkinsonaccountingsolutions.co.uk/

Before you go, don’t forget to leave a comment and review if you got something out of this episode!

Gender bias exists when applying for funding in the venture capital industry.

It’s a fact, women are less likely than men to not only succeed in getting funding but for applying for it in the first place.

This disadvantage is something that has driven my guest in this episode, David B Horne, to help rectify. David is the Founder of Funding Focus, a social enterprise whose mission is to level the uneven playing field that female and underrepresented entrepreneurs face when raising capital.

He shares the shocking statistics behind this disadvantage and why women get less funding and don’t want to go for it in the first place. He also gives his advice on how to level the playing field when pitching to investors.

This is not to be missed if you are a woman looking to apply for funding.

“The level of funding to female founders is currently 1.9%” – David B Horne

Timestamps

02:07 - Why do women get less funding?

04:50 - An introduction to David

07:52 - Why don't women go for funding?

14:20 - Advice to women starting the process

18:21 - David's advice for pitching to investors

21:01 - David's thoughts on pitching competitions

22:34 - Funding for the M&A journey

25:33 - How David helps female founders

Connect with David B Horne:

LinkedIn - https://www.linkedin.com/in/david-b-horne/

Instagram - https://www.instagram.com/davidbhorne/

Linktree - https://linktr.ee/DavidBHorne

Connect With Julie Wilkinson

LinkedIn - https://www.linkedin.com/in/juliewilkinson-accounting/

Tik Tok – https://www.tiktok.com/@wasolutions

YouTube - https://www.youtube.com/channel/UCUvq6gfNoP_4dfIJulL6C6A

Facebook - https://www.facebook.com/wilkinsonaccountingsolutions

Website - https://wilkinsonaccountingsolutions.co.uk/

Before you go, don’t forget to leave a comment and review if you got something out of this episode!