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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.

Links:

https://uk.linkedin.com/in/alexis-sikorsky-consulting

https://www.amazon.co.uk/Cashing-Out-business-selling-private-ebook/dp/B0CZ148DCJ

This podcast is produced by GR Media
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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!

Contact details and Resources Mentioned

https://www.linkedin.com/in/jim-mclaughlin-b227975/?originalSubdomain=uk

Content hubs | FSB, The Federation of Small Businesses

Who Moved My Cheese: An Amazing Way to Deal with Change in Your Work and in Your Life

The Wolf of Wall Street eBook : Belfort, Jordan

Think And Grow Rich: Amazon.co.uk: Hill, Napoleon: 978009190021

This podcast is produced by GR Media
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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.

Links:

Peter Cowley

Public Success Private Grief: The extraordinary life of an angel investor, cancer patient and dad

Project Cancer — Peter Cowley

Papyrus

https://www.linkedin.com/groups/13019244/

https://www.linkedin.com/in/alancapital/

This podcast is produced by GR Media
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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.

Links

Jeremy Harbour

Harbour Club

The Harbour Club by Jeremy Harbour - LEARN HOW TO BUY AND SELL BUSINESSES FOR A LIVING | LinkedIn 

Jeremy Harbour (@harbour.jeremy) • Instagram photos and videos

Go Do Deals: The Entrepreneur’s Guide to Buying & Selling Businesses eBook : Harbour, Jeremy: Amazon.co.uk: Books

https://www.bizbuysell.com/

This podcast is produced by GR Media
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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.  

Links

https://www.linkedin.com/in/russellhaworth/?originalSubdomain=uk 

https://familybusinesspartnership.com/ 

https://www.questforlegitimacy.com/ 

https://fambizpodcast.com

https://www.amazon.co.uk/Wealth-3-0-Future-Family-Advising-ebook/dp/B0CBJ41FYR 

https://www.amazon.co.uk/Complete-Family-Wealth-Bloomberg-Hug

This podcast is produced by GR Media
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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

https://christinenicholson.co.uk/

https://www.linkedin.com/in/christine-nicholson/?originalSubdomain=uk

https://getexitready.co.uk/

Ted talk re timing https://www.youtube.com/watch?v=bNpx7gpSqbY


Business Made Simple 

https://www.amazon.co.uk/Business-Made-Simple-Leadership-Marketing-ebook/dp/B085XNKHMB

John Cleese on creativity  https://www.youtube.com/watch?v=Pb5oIIPO62g 

This podcast is produced by GR Media
Sponsored by Capital Asset Management

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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.

Links:

Alex Chisnall

Podpreneur

https://www.linkedin.com/in/alex-chisnall?originalSubdomain=uk

Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!

How To Make Offers So Good People Feel Stupid Saying No (Acquisition.com $100M Series Book 1) eBook : Hormozi, Alex: Amazon.co.uk: Electronics & Photo

How I Built This

BossBabe

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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.

Links

Rand Fishkin's Bio, Speaker Rates, Contact Details | SparkToro

Lost and Founder: A Painfully Honest Field Guide to the Startup World: Amazon.co.uk

No Hard Feelings: Emotions at Work and How They Help Us Succeed eBook : Fosslien, Liz, Duffy, Mollie West: Amazon.co.uk: Books 

Big Feelings: How to Be Okay When Things Are Not Okay

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This podcast is produced by GR Media
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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.

Netflix - https://www.netflix.com/gb/title/81507283 

Connect with Ray https://linktr.ee/raytrapani

This podcast is produced by GR Media
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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:

The Missing Billionaires: A Guide to Better Financial Decisions

The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Little Books. Big Profits)

The Four Pillars of Investing, Second Edition: Lessons for Building a Winning Portfolio

Where Are the Customers' Yachts? or A Good Hard Look at Wall Street: 32 (Wiley Investment Classics)

Beneficiary, The: Fortune, Misfortune, and... by Scott, Janny

Where are all the Billionaires? & Why should We Care?: Victor Haghani at TEDxSPS

This podcast is produced by GR Media
Sponsored by Capital Asset Management