Build and Exit

Acquisitions can be an opportunity to change your career.

But what if you quit your job and the deal falls through?

You’re left with no job and no deal.

This is exactly what happened to my guest in this episode, Steve Lawrence. The seller decided not to go ahead at the last-minute leaving Steve in the lurch.

Steve shares the ups and downs of his acquisition experience from his first failed acquisition to then finding the company he went on to buy through a Google search. He talks about the struggles and the positives after the acquisition went through, as well as his huge learning curve of why heads of terms are so important.

“The deal just completely fell out” – Steve Lawrence

Timestamps

01:49 - Steve's failed acquisition

03:39 - An introduction to Steve

07:32 - Did Steve get any reimbursements?

08:30 - Steve's successful acquisition

13:48 - The importance of heads of terms

17:41 - Post acquisition struggles

24:14 - Advice on small term loans

27:03 - Post acquisition positives      

Connect with Steve

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

Uncomplicated Group - https://www.uncomplicatedgroup.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!

Imagine not even knowing you are about to go bankrupt.

Many business owners don’t know what is going with their accounts. With £5 million pounds of debt and another £1 million in stocks that anyone could have taken, this was the reality for one business.

In this episode I am joined by Judith Hamilton and Christine Nicholson, 2 brilliant women working in the exit planning and financial world. We share our experiences working with businesses and what needs to be in place for a well-structured exit.

We also discuss what corporate governance is and why it matters for businesses and exit plans, what you should be looking for in people and why you need to keep your processes simple.

“By the time I opened all the envelopes, have discovered that this business was £5 million in debt” – Christine Nicholson

Timestamps

00:58 - An introduction to Judith and Christine

04:50 - What does processing systems mean?

08:39 - Start with simple processes

12:13 - The key things around controls

20:09 - Governance information needed at exit

26:45 - What you should be looking for with people

31:06 - The 2 biggest things Julie's sees in exits

Connect with Judith

LinkedIn - https://www.linkedin.com/in/judith-hamilton/

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

Connect with Christine

LinkedIn - https://www.linkedin.com/in/christine-nicholson/

Christine’s website - https://christinenicholson.co.uk/

Get Exit Ready - https://getexitready.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!

Most businesses are built from people’s dreams. The challenge is taking it from that dream to reality.

In this episode I am joined by Nigel Carley who has achieved this through creating The Pinelli Group, as he approached retirement. A company that sells properties in Italy through fractional ownership.

Nigel fell in love with Italy over his career with Alfa Romeo and through hard work and investing his time he found the right properties that would allow him to create the business he dreamed of.

He shares his story on how he created the business, found the properties and transitioned from retirement to business owner.

“Everyone I spoke to literally said, you're absolutely bonkers” – Nigel Carley

Timestamps

02:16 – A personal story of how The Pinelli Group started

11:07 – Successful businesses are built off of dreams

17:30 – Transitioning from retirement plan to business

23:00 – Making it affordable for investors

30:20 – How Nigel’s mindset changed

34:44 – You have to put in the hard work to create change

37:47 – Did Nigel face any negativity?

40:34 – What properties does Nigel currently have

Connect with Nigel

The Pinelli Group - https://thepinelligroup.com/

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

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

LinkedIn - https://www.linkedin.com/in/nigel-carley-94a024298/

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!

Financial freedoms means different things to everybody. Achieving it means living the life you want but imagine having it and then losing it all.

In this episode I am joined by Meena Adnani, who worked hard against the expectations those around her had. She was judged, because of being a woman and also because of her cultural background. All of which she blocked out to reach her dreams and achieve financial freedom.

She reveals how she lost everything to then build her life back up and reach 7 figures. And she shares how she achieved this, the connection between self-worth and net worth and the importance of a growth mindset.

“All the money that I saved until I was 46 was gone” – Meena Adnani

Timestamps

02:09 – The importance of adversity to Meena

05:50 – Meena’s constant need to prove herself

12:03 – Meena on coping with financial loss

18:07 – Julie’s personal healing journey

22:03 – Meena on overcoming financial loss

28:25 – The importance of a growth mindset

Connect with Meena

LinkedIn - https://www.linkedin.com/in/meena-kumari-adnani/

YouTube - https://www.youtube.com/STRONGANDSHINE

Strong and Shine - https://www.strongandshine.com/

Linktree - https://linktr.ee/meenakumariadnani

The Comeback Masterclass - https://www.strongandshine.com/the-comeback

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!

Imagine going from waitress to financial freedom all through acquisitions.

That is exactly what my guest in this episode, Della Kirkman, achieved. She found a way to buy small businesses and grow them organically to build and exit. She is now on a mission to supports 10,000 women to build wealth through acquisition.

In this episode Della reveals how she achieved financial freedom through acquisitions, and how she changed her career from waitress to business owner. She also shares her experiences in making the deals and what her top tips are for anyone looking to take the leap into entrepreneurship.

“I bought a job and grew that organically and was able to exit” – Della Kirkman

Timestamps

01:47 – From waitress to business owner

04:38 – What the deal structure looked like

07:30 - Buying and selling with creative financing strategies

10:55 – How Della’s deal worked

12:30 – The power of confidence in making deals

16:55 – Della’s top tips for becoming a business owner

Connect with Della

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

Shift-n-Gears - https://www.shift-n-gears.com/

Shift-n-Gears Newsletter - https://www.shift-n-gears.com/newsletter

9 Steps to selling your business - https://www.shift-n-gears.com/9-steps-to-selling-your-business

Connect With Julie Wilkinson

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

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

YouTube - https://www.youtube.com/@wilkinsonaccountingsolutio4018

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!

Acquisitions would be far easier if all sellers were educated on what’s involved.

Knowing what happens post-acquisition is part of the learning that needs to happen to secure a successful deal.

In this episode Kush Birdi and I discuss the importance of KPI based target setting and why you should audit the legal aspects of your deals. We also share why being truthful is so important for the seller to ensure the buyer sees your business as a good deal. We also talk about the fact that selling in full is not your only option for a happy retirement.

“You’ve got to know the truth” – Julie Wilkinson

Timestamps

02:41 - What post acquisition integration involves  

04:52 - Why targets need to come from KPIs

06:39 - Auditing your legals

08:52 - Why sellers need to know the truth

11:09 - Why you need to invest in the right resources         

14:51 - Becoming a more educated seller

Connect with Kush Birdi

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

X - https://twitter.com/KushBirdi

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

YouTube - https://www.youtube.com/channel/UCnxnIW2dWuwRRMTLC4-tUhg 

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

TikTok - https://www.tiktok.com/@birdiandcosolicitors

Birdilaw - https://birdilaw.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/@wilkinsonaccountingsolutio4018

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!

Imagine being in £100K of debt because of a scam.

This is a nightmare situation for any business owner who puts their trust into others and is exactly the position my guest, Kath Jones found herself in.

She is the founder of Think Wine Group and ended up losing £100K after her agent scammed her and the funding she got to salvage the situation never came through.

Kath shares how all of this has impacted her mental health as well as the business and the lessons she has learned from it. She also discusses the steps she is taking to ensure this never happens again.

“Nobody knew where he had gone, the winery couldn't find him, it was just crazy” – Kath Jones

Timestamps

01:58 - Kath on starting her wine business

06:21 – Kath’s experience with investment scams

10:55 – The consequences of being scammed

15:29 - Dealing with anxiety and denial in a business deal

19:32 – What Kath wishes she had done differently

26:40 – The most important lesson to learn

Connect with Kath Jones

LinkedIn - https://www.linkedin.com/in/katherine-jones-638682a0/

Think Wine Group - https://www.thinkwinegroup.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/@wilkinsonaccountingsolutio4018

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!

Not being aware of the financial or legal implications of a deal can have disastrous consequences.

From intellectual property protection, staffing issues to outstanding debts, there are many aspects of a deal that need to be checked as part of your due diligence.

In this episode Kush Birdi and I discuss where due diligence can impact deals and our personal experiences working with both sellers and buyers throughout the due diligence process. We cover where lawyers and accountants fit into the process and the biggest problems we have seen throughout our time working in the acquisitions space.

“On the legal side due diligence is so important” – Kush Birdi

Timestamps

02:41 - How Julie supports acquirers with due diligence

05:09 - Where due diligence impacts deals

08:11 - Why due diligence is important for legals                

11:15 - Julie's experiences post acquisition

15:12 - Due diligence and lawyers

18:38 - The completion accounts process

20:25 - The biggest problem in acquisitions 

Connect with Kush Birdi

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

X - https://twitter.com/KushBirdi

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

YouTube - https://www.youtube.com/channel/UCnxnIW2dWuwRRMTLC4-tUhg 

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

TikTok - https://www.tiktok.com/@birdiandcosolicitors

Birdilaw - https://birdilaw.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/@wilkinsonaccountingsolutio4018

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!

Heads of terms are a key aspect of any acquisition.

The buyer and seller need to agree on these to show serious intent for the deal. But there are many key issues both parties need to be aware of. In this episode Kush Birdi and I discuss our experiences working with heads of terms.

We also share how the buyer and seller can become aligned and why this is so important. The common problems that can arise whilst creating heads of terms and crucially what you need to make sure is in them.

Kush Birdi is the Co-Founder & Managing Partner of Birdi & Co. An independent, multi-service law firm that believes by bringing energy and positivity to everything they do, working across commercial, corporate law, employee and finance law specialising in M&A.

“Most people don’t understand the importance of heads of terms” – Julie Wilkinson

Timestamps

02:41 - Julie's experience with heads of terms         

06:32 - The importance of a good advisory team     

07:59 - The buyer and seller need to be aligned       

12:40 - Why you should get 3rd party advisors        

15:55 - What needs to be in heads of terms?           

12:24 - The importance of exclusivity in acquisitions

24:12 - Common issues with heads of terms

26:28 - People want to buy an asset not a job                                              

Connect with Kush Birdi

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

X - https://twitter.com/KushBirdi

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

YouTube - https://www.youtube.com/channel/UCnxnIW2dWuwRRMTLC4-tUhg 

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

TikTok - https://www.tiktok.com/@birdiandcosolicitors

Birdilaw - https://birdilaw.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/@wilkinsonaccountingsolutio4018

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!

There are many risks to consider as a buyer in acquisitions.

Not being prepared can have severe consequences. You need to do your due diligence and plan every aspect to ensure its success.

In this episode I am joined by Kush Birdi to tell you all you need to know about the legal consequences buyers can face and how to ensure you are covered all the way through your acquisition process. From risk planning, corporate governance to due diligence we cover it all, as well as our views on no money down deals.

Kush Birdi is the Co-Founder & Managing Partner of Birdi & Co. An independent, multi-service law firm that believes by bringing energy and positivity to everything they do, working across commercial, corporate law, employee and finance law specialising in M&A.

“Good bookkeeping is the foundation to all accuracy” – Julie Wilkinson

Timestamps

01:42 - An introduction to Kush                    

02:48 - Financial information companies need

07:26 - What are buyers looking for?

12:46 - Getting the right deal team

16:21 - The importance of risk planning

20:38 - No money down deals

25:56 - The more you plan the easier it will be

Connect with Kush Birdi

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

X - https://twitter.com/KushBirdi

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

YouTube - https://www.youtube.com/channel/UCnxnIW2dWuwRRMTLC4-tUhg 

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

TikTok - https://www.tiktok.com/@birdiandcosolicitors

Birdilaw - https://birdilaw.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/@wilkinsonaccountingsolutio4018

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!