Escaping the Hamster Wheel Trap®

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Is now a good time to sell a business? The answer is, it depends! Certain industries, like the medical industry for example, are hot commodities right now. These types of companies are selling for big multiples.

If you're in a "hot" industry, then YES now is a great time to be selling.

However, the reality is that for most industries now is NOT a good time to sell. If you're in hospitality or retail, it's actually a really bad time to sell.

With that said, one person's loss is another person's gain and when it comes to buying a business we're fasting approaching "buy time!"

I believe that by Q2 of 2021 many businesses that are currently being artificially propped up and sheltered from the recession will unfortunately have their bubble popped. 

When the economy starts to turn in Q1 or Q2, these companies will really start to feel the heat. Access to cash will become harder and, most likely, their credit ratings will have taken a hit meaning creditor payment terms will change. 

As they will be asked to make payments upfront, and managing their cashflow will become harder as cash reserves dwindle, a lot of these companies will be up for grabs at a discount.

If you're a buyer, there will be a lot of potential deals to be had. You'll need to be shrewd with your business valuations. Don't pay over the odds as there will be plenty of excellently priced opportunities.

By 2024/25 as we progress into the next economic cycle, investment will pick up and I think that'll be a great time for selling a business again.

If you're buying a business, or if you'd like my help putting your business for sale in order to get the maximum valuation please get in touch with me at http://www.Boolkah.com

CONNECT WITH PETER BOOLKAH

Website: https://www.boolkah.com
LinkedIn: https://www.linkedin.com/in/boolkah
Instagram: https://www.instagram.com/pboolkah/
Facebook: https://www.facebook.com/Boolkah
X: https://twitter.com/boolkah

ABOUT PETER BOOLKAH

Peter Boolkah is a business coach, author and speaker who has spent more than 20 years helping business owners build stronger, more valuable businesses that do not depend on them for everything.

He is the creator of The Hamster Wheel Trap® and author of Your Business Sucks: Build a Business That Works Without Destroying Your Life.

Peter works with founders and leadership teams on the issues that ultimately determine whether a business creates freedom or becomes another job: leadership, founder dependency, people, profit, execution, scaling, exit readiness and enterprise value.

His approach is direct, practical and built around one simple question:

Do you own the business, or does the business own you?

Learn more at https://www.boolkah.com

Send us Fan Mail

Most founders start businesses because they want greater freedom.

Then something changes.

The customers, employees, bills and revenue become dependent on the founder. Working harder feels safer than stepping away, and personal decisions begin revolving around what the business will allow.

Before long, the business you created to give you freedom has become your new boss.

In this foundational episode, Peter Boolkah explains how business owners become trapped on the hamster wheel and why the first step towards escaping is deciding what you actually want the business to make possible.

You’ll discover:

• How the excitement of starting a business can turn into an obligation
• Why fear of losing revenue keeps founders working harder
• The warning signs that your business is driving you
• What happens when personal decisions require the company’s permission
• Why a successful-looking business can become a diamond-encrusted prison
• How personal ambitions gradually become distant memories
• Why the business should serve the owner rather than consume them
• Why you must define your ideal life before designing the company
• How successful founders treat a business as a vehicle rather than a master
• The first question to ask when beginning the journey towards owner independence

The answer is not simply to work fewer hours. It is to build a stronger business that can operate, make decisions and continue growing without depending on you for everything.

That is the difference between owning a business and being owned by one.

CONNECT WITH PETER BOOLKAH

Website: https://www.boolkah.com
LinkedIn: https://www.linkedin.com/in/boolkah
Instagram: https://www.instagram.com/pboolkah/
Facebook: https://www.facebook.com/Boolkah
X: https://twitter.com/boolkah

ABOUT PETER BOOLKAH

Peter Boolkah is a business coach, author and speaker who has spent more than 20 years helping business owners build stronger, more valuable businesses that do not depend on them for everything.

He is the creator of The Hamster Wheel Trap® and author of Your Business Sucks: Build a Business That Works Without Destroying Your Life.

Peter works with founders and leadership teams on the issues that ultimately determine whether a business creates freedom or becomes another job: leadership, founder dependency, people, profit, execution, scaling, exit readiness and enterprise value.

His approach is direct, practical and built around one simple question:

Do you own the business, or does the business own you?

Learn more at https://www.boolkah.com

Send us Fan Mail

How does a century-old retail group with household names such as Topshop, Topman, Burton and Dorothy Perkins reach the point where nobody wants to buy the complete business?

Recorded as Arcadia Group entered administration in 2020, Peter Boolkah examines five factors that he believed had made the organisation increasingly unattractive to a potential buyer:

Competition, an outdated business model, a burdensome property estate, substantial pension obligations and a leadership culture that had failed to produce sufficient change.

Peter’s central prediction was subsequently borne out. Arcadia was not rescued as a functioning business. Its brands and digital assets were divided between different buyers.

You’ll discover:

• Why a famous brand does not necessarily make a valuable business
• How new competitors can transform customer expectations
• Why delaying digital transformation allows problems to compound
• How a poor online experience can undermine established brands
• When property changes from an asset into a liability
• How deferred maintenance, rent and business rates affect profitability
• Why historic financial obligations can deter potential buyers
• How leadership behaviour influences culture and innovation
• Why valuable brands may be sold while the underlying organisation disappears
• How strategic action today protects future enterprise value

The lesson for founders is clear: a business does not suddenly become unsellable when you decide to sell it.

Unsellability develops over time as outdated systems, weak leadership, inflexible costs and postponed decisions accumulate. Exit readiness must be built while the business is still performing, not after circumstances force the owner to find a buyer.

ARCHIVE CONTEXT

This episode contains Peter’s contemporaneous analysis of Arcadia Group’s administration. The five factors are Peter’s interpretation of the available information rather than the findings of an official insolvency investigation.

CONNECT WITH PETER BOOLKAH

Website: https://www.boolkah.com
LinkedIn: https://www.linkedin.com/in/boolkah
Instagram: https://www.instagram.com/pboolkah/
Facebook: https://www.facebook.com/Boolkah
X: https://twitter.com/boolkah

ABOUT PETER BOOLKAH

Peter Boolkah is a business coach, author and speaker who has spent more than 20 years helping business owners build stronger, more valuable businesses that do not depend on them for everything.

He is the creator of The Hamster Wheel Trap® and author of Your Business Sucks: Build a Business That Works Without Destroying Your Life.

Peter works with founders and leadership teams on the issues that ultimately determine whether a business creates freedom or becomes another job: leadership, founder dependency, people, profit, execution, scaling, exit readiness and enterprise value.

His approach is direct, practical and built around one simple question:

Do you own the business, or does the business own you?

Learn more at https://www.boolkah.com

Send us Fan Mail

An office can become much more than a place to work. It can become part of the founder’s identity.

But what happens when the business no longer needs it?

In this episode, Peter Boolkah shares the personal story behind closing his office in 2020. Although the financial argument made sense, Peter had not anticipated the emotional impact, the disruption to his team or the feeling of losing something that had represented the business for many years.

He explains why resizing is not necessarily the same as downsizing. It means reassessing the people, premises and support structures the business genuinely needs—and letting go of arrangements that no longer suit its operating model.

You’ll discover:

• The difference between scaling up, scaling down and resizing
• Why founders can become emotionally attached to their premises
• How customer behaviour changed Peter’s need for an office
• The financial and psychological consequences of closing a workplace
• Why did some employees adapt to remote working while others did not
• How hybrid working changes the amount and type of space a company requires
• Why office-based, manufacturing and distribution businesses have different requirements
• How to assess whether premises still justify their cost
• Options including subletting, downsizing and relocating
• Why a difficult change can ultimately leave a business better prepared for the future

The wider founder-dependency lesson is simple: your operating model should serve the business you are building now, not preserve the identity or infrastructure of the business you used to own.

ARCHIVE CONTEXT

This episode was recorded in 2020 while the longer-term effects of remote and hybrid working were still uncertain. Predictions about 2021, office occupancy and employee preferences have been retained in the transcript because they were part of the original recording, but they should not be treated as current statistical benchmarks.

CONNECT WITH PETER BOOLKAH

Website: https://www.boolkah.com
LinkedIn: https://www.linkedin.com/in/boolkah
Instagram: https://www.instagram.com/pboolkah/
Facebook: https://www.facebook.com/Boolkah
X: https://twitter.com/boolkah

ABOUT PETER BOOLKAH

Peter Boolkah is a business coach, author and speaker who has spent more than 20 years helping business owners build stronger, more valuable businesses that do not depend on them for everything.

He is the creator of The Hamster Wheel Trap® and author of Your Business Sucks: Build a Business That Works Without Destroying Your Life.

Peter works with founders and leadership teams on the issues that ultimately determine whether a business creates freedom or becomes another job: leadership, founder dependency, people, profit, execution, scaling, exit readiness and enterprise value.

His approach is direct, practical and built around one simple question:

Do you own the business, or does the business own you?

Learn more at https://www.boolkah.com

Send us Fan Mail

What happens when the way your company works changes faster than its people can learn?

Recorded during the rapid shift towards remote working in 2020, Peter Boolkah reflects on how quickly established working practices were overturned and why waiting for everything to return to normal was never a viable business strategy.

Peter discusses moving strategic planning sessions from the meeting room to video, the limitations of early remote-working arrangements, the rapid development of collaboration technology and the personal commitment required to keep learning.

You’ll discover:

• Why businesses cannot rely on established ways of working forever
• What the sudden adoption of remote working revealed about organisational adaptability
• Why strategic planning cannot stop when external circumstances change
• How rapidly evolving technology creates continuing learning demands
• Why choosing one piece of software no longer guarantees years of stability
• The challenge of finding sufficient time for professional development
• Why Peter was dedicating approximately nine hours a week to learning
• How changed working habits can create permanent changes in a marketplace

For founders, the episode raises an additional question: can your company learn and adapt without every new development first passing through you?

A founder-dependent business learns only as quickly as its founder. A resilient business turns learning into an organisational capability.

ARCHIVE NOTE

The opening “95%” figure has been preserved in the transcript because it was part of the original recording. However, the supplied episode materials do not identify their source, timeframe or underlying definition. It should be treated as historical framing rather than a verified statistic.

CONNECT WITH PETER BOOLKAH

Website: https://www.boolkah.com
LinkedIn: https://www.linkedin.com/in/boolkah
Instagram: https://www.instagram.com/pboolkah/
Facebook: https://www.facebook.com/Boolkah
X: https://twitter.com/boolkah

ABOUT PETER BOOLKAH

Peter Boolkah is a business coach, author and speaker who has spent more than 20 years helping business owners build stronger, more valuable businesses that do not depend on them for everything.

He is the creator of The Hamster Wheel Trap® and author of Your Business Sucks: Build a Business That Works Without Destroying Your Life.

Peter works with founders and leadership teams on the issues that ultimately determine whether a business creates freedom or becomes another job: leadership, founder dependency, people, profit, execution, scaling, exit readiness and enterprise value.

His approach is direct, practical and built around one simple question:

Do you own the business, or does the business own you?

Learn more at https://www.boolkah.com

Send us Fan Mail

Growth has slowed, so should you enter a new market, launch another service or completely change direction?

Not necessarily.

In this solo episode, Peter challenges the assumption that every struggling business needs to pivot. Sometimes the smarter decision is to strengthen the existing offer, improve the marketing and address the constraint preventing the core business from performing.

Peter shares the example of a company being encouraged to diversify despite holding less than 5% of its existing market.

In this episode, you’ll discover:

• The difference between a necessary pivot and a panic reaction
• Why changing direction without evidence creates risk
• How a pivot can damage the existing core business
• Why low market penetration may indicate an untapped opportunity
• How weak marketing can be mistaken for a strategic problem
• Why founders are attracted to new and shiny opportunities
• The importance of identifying the real business constraint
• When exploring another market may genuinely make sense

There is no universal market-share percentage that determines whether a company should pivot.

Before changing direction, examine the addressable opportunity, customer demand, competitive position, profitability, internal capabilities and cost of creating additional complexity.

A new revenue stream can look attractive, but every additional market, offer and delivery model creates more decisions, systems and responsibilities.

If the new direction depends even more heavily on the founder, it may expand the Hamster Wheel Trap® rather than solve it.

Before you pivot, ask:

Is the core strategy broken, or have we simply failed to execute it properly?

CONNECT WITH PETER BOOLKAH

Website: https://www.boolkah.com
LinkedIn: https://www.linkedin.com/in/boolkah
Instagram: https://www.instagram.com/pboolkah/
Facebook: https://www.facebook.com/Boolkah
X: https://twitter.com/boolkah

ABOUT PETER BOOLKAH

Peter Boolkah is a business coach, author and speaker who has spent more than 20 years helping business owners build stronger, more valuable businesses that do not depend on them for everything.

He is the creator of The Hamster Wheel Trap® and author of Your Business Sucks: Build a Business That Works Without Destroying Your Life.

Peter works with founders and leadership teams on the issues that ultimately determine whether a business creates freedom or becomes another job: leadership, founder dependency, people, profit, execution, scaling, exit readiness and enterprise value.

His approach is direct, practical and built around one simple question:

Do you own the business, or does the business own you?

Learn more at https://www.boolkah.com

Send us Fan Mail

Every founder wants to grow, build a recognised brand and realise the company’s potential.

But what must be secure before meaningful growth becomes possible?

In this solo episode, Peter adapts Maslow’s hierarchy of needs into a practical way of thinking about business priorities and customer behaviour.

Just as people focus on food, shelter and safety before status and self-actualisation, businesses under financial pressure will prioritise cash, sales and survival before responding to aspirational marketing or longer-term opportunities.

In this episode, you’ll discover:

• How Maslow’s hierarchy can be applied to a business
• Why cash and essential operations form the foundation
• How predictable sales and forward visibility create security
• Why the right team becomes increasingly important
• Where positioning, niche and reputation enter the picture
• Why customer priorities change during difficult conditions
• How marketing can fail when it targets the wrong level of need
• Why stronger foundations must come before sustainable scale

For founders, the hierarchy exposes a common problem: pursuing growth, recognition or freedom while the fundamental business still depends on them to produce sales, solve problems and keep delivery moving.

The hierarchy is a strategic lens rather than a rigid formula. Businesses may need to address several levels at once.

The essential question is:

What does the business need most at its present stage and are you trying to solve a higher-level problem before securing the foundations?

CONNECT WITH PETER BOOLKAH

Website: https://www.boolkah.com
LinkedIn: https://www.linkedin.com/in/boolkah
Instagram: https://www.instagram.com/pboolkah/
Facebook: https://www.facebook.com/Boolkah
X: https://twitter.com/boolkah

ABOUT PETER BOOLKAH

Peter Boolkah is a business coach, author and speaker who has spent more than 20 years helping business owners build stronger, more valuable businesses that do not depend on them for everything.

He is the creator of The Hamster Wheel Trap® and author of Your Business Sucks: Build a Business That Works Without Destroying Your Life.

Peter works with founders and leadership teams on the issues that ultimately determine whether a business creates freedom or becomes another job: leadership, founder dependency, people, profit, execution, scaling, exit readiness and enterprise value.

His approach is direct, practical and built around one simple question:

Do you own the business, or does the business own you?

Learn more at https://www.boolkah.com

Send us Fan Mail

Is your probationary period helping new employees succeed or compensating for a weak recruitment process?

In this solo episode, Peter questions whether businesses rely too heavily on probation after failing to define precisely who they need, how the role will be measured and which behaviours matter.

Drawing on his early employment experience, Peter contrasts the old “hire them and see what happens” approach with a more deliberate recruitment process built around skills, attitude, values and cultural alignment.

In this episode, you’ll discover:

• Why probation cannot repair a poor hiring decision
• How employee turnover creates hidden financial costs
• Why core values must be visible and actively used
• The difference between aptitude and attitude
• Why an impressive interview is not enough
• What uncertainty about a new employee may reveal about recruitment
• Why structured onboarding and review points matter
• How better hiring reduces disruption and founder dependency

Probation can still serve a valuable purpose. It gives both parties time to assess suitability, clarify expectations, identify training requirements and address performance concerns.

The objective is not to impose an arbitrary three-day limit. It is to stop treating probation as a substitute for disciplined recruitment and management.

A strong process should define the role’s outcomes, assess relevant capabilities and behaviours, provide effective onboarding, document review points and give the employee appropriate support.

Probation and dismissal involve contractual and legal obligations. Check current guidance and obtain appropriate HR or legal advice before changing your employment policies.

CONNECT WITH PETER BOOLKAH

Website: https://www.boolkah.com
LinkedIn: https://www.linkedin.com/in/boolkah
Instagram: https://www.instagram.com/pboolkah/
Facebook: https://www.facebook.com/Boolkah
X: https://twitter.com/boolkah

ABOUT PETER BOOLKAH

Peter Boolkah is a business coach, author and speaker who has spent more than 20 years helping business owners build stronger, more valuable businesses that do not depend on them for everything.

He is the creator of The Hamster Wheel Trap® and author of Your Business Sucks: Build a Business That Works Without Destroying Your Life.

Peter works with founders and leadership teams on the issues that ultimately determine whether a business creates freedom or becomes another job: leadership, founder dependency, people, profit, execution, scaling, exit readiness and enterprise value.

His approach is direct, practical and built around one simple question:

Do you own the business, or does the business own you?

Learn more at https://www.boolkah.com

Send us Fan Mail

Waiting can feel safer than making the wrong decision. But waiting is still a decision, and it may be costing your business.

Recorded during the uncertainty of 2020, this solo episode examines why some businesses adapted quickly while others remained frozen, hoping that conditions would return to normal.

Peter argues that leaders must stop waiting for perfect information and begin deciding how their companies will operate under the conditions that actually exist.

In this episode, you’ll discover:

• Why uncertainty can paralyse business owners
• How waiting for the old normal can prevent adaptation
• Why customer and employee habits may change permanently
• How some businesses altered their routes to market
• Why new conditions may require different skills and capabilities
• The importance of reviewing your existing business model
• Why external support cannot replace leadership decisions
• How action creates information that continued waiting cannot

Decisiveness does not mean acting recklessly.

A stronger decision-making process separates reversible decisions from irreversible ones, defines how much information is genuinely required, assigns a clear decision owner and establishes when the result will be reviewed.

That enables the business to move without making every decision dependent on its founder.

When conditions change, the question is not, “When will everything return to normal?”

The better question is, “What must we change to succeed under the conditions we have now?”

CONNECT WITH PETER BOOLKAH

Website: https://www.boolkah.com
LinkedIn: https://www.linkedin.com/in/boolkah
Instagram: https://www.instagram.com/pboolkah/
Facebook: https://www.facebook.com/Boolkah
X: https://twitter.com/boolkah

ABOUT PETER BOOLKAH

Peter Boolkah is a business coach, author and speaker who has spent more than 20 years helping business owners build stronger, more valuable businesses that do not depend on them for everything.

He is the creator of The Hamster Wheel Trap® and author of Your Business Sucks: Build a Business That Works Without Destroying Your Life.

Peter works with founders and leadership teams on the issues that ultimately determine whether a business creates freedom or becomes another job: leadership, founder dependency, people, profit, execution, scaling, exit readiness and enterprise value.

His approach is direct, practical and built around one simple question:

Do you own the business, or does the business own you?

Learn more at https://www.boolkah.com

Send us Fan Mail

Not every employee departure should be handled in the same way.

Some departing employees can work their notice, complete a proper handover and help train their replacement. Others occupy sensitive positions where garden leave may be appropriate. In certain circumstances, the business may need the employee to leave immediately while dealing correctly with notice pay and contractual obligations.

In this solo episode, Peter explains the commercial thinking behind three different approaches to employee exits.

You’ll discover:

• When a departing employee may continue working their notice period
• Why a strong handover protects the business
• How a respectful exit can support the remaining team
• Why sensitive roles may require additional protection
• The basic commercial purpose of garden leave
• When an immediate departure may need to be considered
• Why must removing the system and data access be planned
• How a documented offboarding process reduces disruption

The way someone leaves sends a message to everyone who remains.

A strong offboarding process should protect commercially sensitive information while treating people respectfully and meeting the company’s contractual and legal obligations. It should cover knowledge transfer, customer relationships, equipment, data access, internal communication and final responsibilities.

This episode provides a general business perspective, not employment-law advice. Garden leave, payment instead of notice and dismissal without notice are legally distinct. Check the employment contract, follow a fair process and obtain appropriate HR or legal advice before acting.

CONNECT WITH PETER BOOLKAH

Website: https://www.boolkah.com
LinkedIn: https://www.linkedin.com/in/boolkah
Instagram: https://www.instagram.com/pboolkah/
Facebook: https://www.facebook.com/Boolkah
X: https://twitter.com/boolkah

ABOUT PETER BOOLKAH

Peter Boolkah is a business coach, author and speaker who has spent more than 20 years helping business owners build stronger, more valuable businesses that do not depend on them for everything.

He is the creator of The Hamster Wheel Trap® and author of Your Business Sucks: Build a Business That Works Without Destroying Your Life.

Peter works with founders and leadership teams on the issues that ultimately determine whether a business creates freedom or becomes another job: leadership, founder dependency, people, profit, execution, scaling, exit readiness and enterprise value.

His approach is direct, practical and built around one simple question:

Do you own the business, or does the business own you?

Learn more at https://www.boolkah.com