Most founders say they want an exit. Very few build a business that someone will actually write a cheque for.

In this episode, Matt sits down with Andrew Hulbert, founder of Pareto (UK facilities management), a working-class, council-estate background entrepreneur who grew a company to 550 staff, sold £250m+ of services, raised £100m+ in private equity, and exited in the eight figures.

You’ll hear Matt and Andrew talk about:

• The emotional comedown of waking up after an eight-figure exit (and why Andrew disappeared to decompress).
• Why Andrew hired people “better than him” (and the CFO lesson founders 
• The sweat equity strategy that kept senior leaders for a decade.
• Culture that scales: interest-free staff loans, real employee support, and why “doing the right thing” still has a cost.
• Andrew’s investor filter: why he won’t touch “PowerPoint businesses” and what makes an investment viable.
• What private equity actually wants: recurring revenue, 5–7 year contracts, and ~10% EBITDA.
• Why personal brand helped him win work before he even launched the business.

If you’re building a business and you want it to be sellable, this is the blueprint.

Timestamps
0:00 – 8-Figure Exit + Founder Reality Check
1:13 – What an 8-Figure Exit Feels Like
4:21 – Where the Exit Money Actually Goes (Mechanics)
8:41 – The Post-Exit Trap: Stopping Your Earning
17:13 – Hiring A-Players vs Founder Ego (Scale Fast)
21:12 – Fixing the “Dog’s Dinner” Before Due Diligence
24:53 – Before Pareto: The “Pre-Exit” Mindset
28:17 – Culture at Scale (How You Keep Standards)
32:02 – Employee Loyalty Is a Myth? (Retention Truth)
38:29 – Watching Your “Baby” Change After Private Equity
42:07 – £5k Interest-Free Loans (Retention Strategy)
43:26 – Life After the Alarm Clock (Post-Exit Identity)
46:51 – Personal Brand + Gen Z (Modern Leadership)
47:59 – Deal Killers: What Makes an Investment Unviable
51:15 – The Addictive Part of Exits (Founder Psychology)
54:02 – Closing Thoughts

Andrew Hulbert
Instagram: https://www.instagram.com/_andrewhulbert/
LinkedIn: Andrew Hulbert FIWFM | LinkedIn

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Connect with Matt Haycox, No BS Business Podcast Host & 8-Figure Entrepreneur.

I’m Matt Haycox, entrepreneur, investor, and your straight-talking guide to building a business that actually works. I’ve raised over £750M, built (and rebuilt) 8-figure companies, and learned the hard way what it really takes to win.

On No Bollocks with Matt Haycox, I cut through the bollocks to bring you raw conversations with 7–8 figure founders, investors, and experts who’ve been there, done it, and got the scars to prove it. No hype, no theory, just actionable strategies you can use today to start, grow, and scale your business.

Whether you’re stuck in your 9–5, building your side hustle, or trying to hit your first £100k month, this is your go-to podcast for entrepreneur tips, startup growth strategies, raising capital, building a personal brand, and avoiding the costly mistakes most founders make.

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