Welcome to The Exit Plan, a podcast for business owners interested in learning more about selling their business.

Claire Daniels, who has a background in strategic in-house marketing roles, took on the role of CEO at Trio Media's Digital Marketing Agency in 2020. She became part of the company in 2018 with a strong emphasis on prioritizing customer satisfaction, making it the central focus of all her endeavors.

In this episode, Claire Daniels, the CEO of Digital Marketing Agency of Trio Media, shares her journey of how she became involved in the business. Following the passing of her brother and her sister-in-law's pregnancy, Claire chose to contribute to the company while navigating her own aspirations. As her sister-in-law became pregnant again, the business underwent changes, leading to conflicts upon her return from maternity leave. Owing to divergent decisions and objectives between the two owners, they eventually opted to buy out the company. Claire eventually took over as CEO and bought out her sister-in-law's shares. 

Claire also shares the process of acquiring the company, managing a legal dispute involving her sister-in-law, and securing the transfer of her shares to resolve the issue. Despite initial dissatisfaction from her husband, Claire mentions that things have since settled with her sister-in-law and assures that everything is going well with their personal relationships. Further, she shares outlines of their future objectives that include rebranding and integrating AI into their operations. While contemplating expansion and potentially acquiring other companies, Claire is uncertain about seeking external funding.

Although not a venture she initiated outright, Claire acknowledges the significant effort and emotional investment she has dedicated to the company, emphasizing its pivotal role in the business's success. Expressing contentment with her current role, Claire conveys her enjoyment of every aspect of the journey.

Be inspired as we listen to this episode of winning your goals, enjoying your journey while setting up proper communication to maintain good relationships with other people. 

Sign up to The Exit Plan mailing list: http://eepurl.com/iC8sIY

WHAT YOU WILL LEARN:

• Managing a business while experiencing business-related relationships and co-founders departure

• Handling financial problems to maintain a business

• How to properly communicate with business partners and how to deal with inside work conflicts

• Resolving legal matters such as shares and company related issues

CONNECT WITH CLAIRE: 

• LinkedIn | www.linkedin.com/in/claire-daniels-trio-media

• Website | www.trio-media.co.uk

• Twitter | @triomediaclaire

• Instagram | @mrsclairedaniels

THE EXIT PLAN

The Exit Plan is for business owners that are interested in learning more about how to sell their business. Each episode Barnaby Cook interviews someone who has bought or sold a business - either a creative agency, or a production company. The conversation gets under the skin of why they wanted to sell, or were looking to acquire, how the deal was structured, how they agreed upon a valuation and what lessons they learnt along the way.

Welcome to The Exit Plan, a podcast for business owners interested in learning more about selling their business.

Gareth Dunlop is a seasoned professional in the agency world with over two decades of experience. After leading a web agency for 13 years, he sold it and ventured into UX, successfully growing and selling a business from 2011 to 2021 during the pandemic. Garth's genuine passion for the web, dating back to the mid-nineties, is evident in his LinkedIn profile, which tells a story of navigating the dynamic highs and lows of the industry. He is a former agency owner, web developer, and founder of Fathom. Gareth shares his previous work in a digital strategy business as a programmer for 13 years before starting his own UX agency called Fathom. His desire to concentrate on the study of human behavior and design science led him to become a UX specialist. The business grew steadily for a number of years, but it ran into problems with larger value contracts and recurring revenue. Gareth had always thought about selling the company, and in 2019 they were on the verge of a deal that didn't work out. Following that, Gareth started looking for a buyer more actively and, two years later, they were able to close a deal.

Gareth also shares how they felt comfortable setting high growth goals in a previous agreement and how they were confident in their team's capacity to grow by twofold. Gareth talks about their goal of creating a dispersed team of experts and how they got in touch with possible acquirers via an email newsletter. During the M&A process, he also stresses the significance of being aware of market trends and seeking expert counsel. He continued to be involved as a consultant while others handled day-to-day management integrating disparate agencies with different cultures, technologies, and systems made the integration phase difficult.

Gareth discusses their confidence in doubling the team's size and how they navigated the integration phase after the acquisition. He also talks about the shifts of the UX team's to Microsoft, a significant change for a team accustomed to Google. He shares about the 15 to 18-month transition period, emphasizing the importance of clean books and financial hygiene when preparing a business for sale.

Discover the world of merge and acquisition processes and delve deeper with the knowledge of running a business.

Sign up to The Exit Plan mailing list: http://eepurl.com/iC8sIY

WHAT YOU WILL LEARN:

• Importance of maintaining a clean and transparent business

• How to build a healthy culture within the company, emphasizing on profitability and high-value customers.

• Challenges and differences between the web agency and UTV

• Negotiation process and reaching an agreement

• Difficulties and complexities of integrating five agencies with different cultures and technologies.

• The role of a healthy culture in achieving commercial success

CONNECT WITH GARETH:

• LinkedIn | www.linkedin.com/garethdunlop

• Website | www.fathom.pro

• Twitter | @dunlop71

THE EXIT PLAN

The Exit Plan is for business owners that are interested in learning more about how to sell their business. Each episode Barnaby Cook interviews someone who has bought or sold a business - either a creative agency, or a production company. The conversation gets under the skin of why they wanted to sell, or were looking to acquire, how the deal was structured, how they agreed upon a valuation and what lessons they learnt along the way.

Welcome to The Exit Plan, a podcast for business owners interested in learning more about selling their business.

In this episode, Jack Horwitz, an associate at Leathes Prior Solicitor shares the most obvious thing in terms of valuation, which is how various companies differentiate themselves based on how they legally position themselves for sale, wise accounting, higher turnover, lower costs. But from a legal standpoint, there are things they can do to make themselves more marketable. He also shares about the typical process they are doing, which starts with an accountant who then collaborates with a few corporate finance accountants under the seller's direction to market the seller's business for sale.

He also talks about the main works of the legal side where they concentrate on issues relating to employment, property, disputes, the company's share history, any insurance matters that might be pertinent, and insurance claims. Furthermore, he also shares the IR35 Legislation of UK, which oftentimes a problem he handles in shares and employment. He also touches the other professionals that may be involved, such as specialists in employment law or commercial property within their firm or external experts. 

Jack also discusses the role of a corporate lawyer, which is to try to avoid having to pay back a portion of the purchase price, some negotiation restrictions. One of those is a concept known as a de minimis level, which effectively disqualifies claims below a particular amount. He reiterated that these kinds of terms need to be properly negotiated to the purchase price because anything below that value is excluded, and the buyer cannot make a claim with regard to that amount. Legal facts and documents are always present before buying or selling a business or piece of property. 

Tune in now and learn more about the idea of the deal process and the significance of getting a company ready to sell legally.

JOIN THE EXIT PLAN COMMUNITY http://eepurl.com/iC8sIY

WHAT YOU WILL LEARN:

• How to build a business to make it an attractive proposition for a buyer

• Process of corporate transactions

• Definition and processes of employment ownership trusts (EOTs)

• Typical trade sale structure

• Challenges related to share history and unraveling issues

• Financial and legal due diligence processes

• Introduction to the process through an accountant

• Valuation of businesses and factors that influence value

CONNECT WITH JACK:

• Website | www.leathesprior.co.uk

• LinkedIn| Jack Horwitz

ABOUT THE GUEST:

Jack Horwitz is an associate in Leathes Prior Solicitor who works as a corporate and commercial attorney with a focus on buying and selling businesses describes his background and his interest in corporate law. He studied economics in college with the intention of either entering the legal profession or working in finance until he ultimately chose to pursue a career in law, but still not entirely sure what kind of law to practice. During his lawyer training contract, he visits four different locations which made him practiced some commercial property law, employment law, corporate commercial, and disputes law.

He is interested in the economics of buying and selling businesses, and was sure wanted to work in the business sector.

THE EXIT PLAN

The Exit Plan is for business owners that are interested in learning more about how to sell their business. Each episode Barnaby Cook interviews someone who has bought or sold a business - either a creative agency, or a production company. The conversation gets under the skin of why they wanted to sell, or were looking to acquire, how the deal was structured, how they agreed upon a valuation and what lessons they learnt along the way.

Building a business requires a strong goal, proper management, sourcing, teamwork, and leadership. But success doesn't guarantee the absence of failure and the number of unwanted outcomes after the other. 

In this episode, Raj Choudhury, the CEO of Alloy, shares his background in merge and acquisition and how he started Spunlogic before eventually selling it to a private equity firm. Alloy is a marketing agency specializing in technology brands. With the support from private equity firms, they made several acquisitions to create Engauge. The acquisitions were funded through a combination of cash consideration and rolling over equity into the new unit. Engauge made five acquisitions over five years before ultimately being sold again.

Raj also talks about his experience working with Publicis Group and different companies. Raj reiterated the attitude that a team must have which involves people management, leadership, sourcing and evaluating potential acquisitions, integration processes, and future deal sourcing to aim for success in a business. In terms of valuations for service-based businesses, it depends on factors such as revenue growth trajectory and product market fit rather than specific multiples of EBITDA. 

Raj talks about the factors to consider when valuing a business, such as revenue and expenses. He includes the importance of looking at the potential for growth and time value when considering acquisitions. He also shares the acquisition strategy to speed up their overall path to success such as a clean number and transparency are highlighted as crucial elements in preparing a business for sale. Additionally, it is advised to communicate with the management team about objectives and recognize one's strengths and weaknesses to facilitate growth.

Looking to sell your business? Raj offers valuable advice, stressing the importance of clean financials and transparency. Get ready for a rollercoaster of entrepreneurial wisdom, and uncover the key elements to build a successful business. 

WHAT YOU WILL LEARN:

• Strategies on how to assemble a larger unit

• How meeting with entrepreneurs and allotting enough time to source and evaluate potential acquisition targets affects Alloy's vision and strategy

• How does a private firm work

• The roles of cultural and work integration 

• How to build units to create firms

• The importance of having clean numbers and a well-structured balance sheet

• The importance of transparency and openness from entrepreneurs in a business

• Knowing strengths and weaknesses is essential for building and growing a unit.

CONNECT WITH RAJ:

• LinkedIn | www.linkedin.com/in/rajchoudhury

• Website | alloycrew.com

• Twitter | @rmchoudhury

THE EXIT PLAN

The Exit Plan is for business owners that are interested in learning more about how to sell their business. Each episode Barnaby Cook interviews someone who has bought or sold a business - either a creative agency, or a production company. The conversation gets under the skin of why they wanted to sell, or were looking to acquire, how the deal was structured, how they agreed upon a valuation and what lessons they learnt along the way.

Welcome to The Exit Plan, a podcast for business owners interested in learning more about selling their business.

In this episode, Lisa Paasche, was the founder and CEO of Award Winning SEO & Content Marketing agency; Verve Search. She sold her agency to Omnicom Media Group in 2017. She's now proud to run EKTE Vision, mentoring Directors and CEOs with a focus on self-belief and interpersonal skills based on applied neuroscience principles.

Lisa talks about her experiences starting and growing her creative SEO agency. She started the business on her own and focused on finding the right people to hire. The company experienced rapid growth in its early years but faced challenges as it scaled up. She discusses the importance of maintaining a sense of community within the agency and addressing performance issues. 

Lisa discusses how Google's algorithm changes impacted her business, and how she needed to restructure the business to continue growth. Lisa explains her motivation for selling the agency for financial security, the negotiation process and earnouts, and COVID-19's negative impact on their earnings. Lisa also talks about the challenges in merging SEO teams and cross-selling services during integration. 

Join us now to uncover valuable insights from Lisa on trusting your instincts, safeguarding your interests in negotiations, and navigating profit multipliers for success!

WHAT YOU WILL LEARN:

• How Lisa Paasche started and grew her SEO agency, Verve Search.

• Challenges and successes during the agency's growth.

• Finding the right people to hire and addressing performance issues.

• Why Lisa decided to sell the agency for financial security.

• The negotiation process and challenges, including earnings affected by COVID-19.

• Challenges during the integration, like merging teams and selling services.

• Tensions within the agency due to missed targets and client loss.

• Why Lisa left the agency and experiencing burnout 

• Lisa's next step starting a consulting business, EKTE Vision.

• The importance of speaking from a specific perspective, trusting your instinct, and holding on to your values and beliefs

CONNECT WITH LISA:

• LinkedIn | Lisa Paasche

• Website | ekte-vision.com

• Twitter | @LisaDMyers

THE EXIT PLAN

The Exit Plan is for business owners that are interested in learning more about how to sell their business. Each episode Barnaby Cook interviews someone who has bought or sold a business - either a creative agency, or a production company. The conversation gets under the skin of why they wanted to sell, or were looking to acquire, how the deal was structured, how they agreed upon a valuation and what lessons they learnt along the way.

Welcome to The Exit Plan, a podcast for business owners interested in learning more about selling their business.

In this episode, we welcome Joe Lewin, the founder of Foundy, a platform revolutionising the business acquisition process. Joe's background includes working for a startup and founding a successful business in the E-Mobility sector. Frustrated by the complexities of traditional M&A, Joe embarked on a mission to modernise it.

Foundy's platform, launched in early 2022, has over 9,000 users with a cumulative buy budget of £13.5 billion and 230 live businesses for sale. Foundy's technology streamlines the entire M&A process, from origination to post-acquisition support. The key to their speed and efficiency is providing founders and buyers with checklists, educational tools, and a legal copilot tool. The goal is to ensure cultural fit between buyers and sellers and democratize access to business opportunities.

Joe's vision is for Foundy to become the go-to platform for business acquisitions, similar to Rightmove in real estate. The aim is to make the process smoother, faster, and more accessible for all business owners.

Foundy, a prominent UK platform for business transactions, is pivotal in connecting buyers and sellers. The discussion addressed the challenges faced by smaller service-based enterprises in the market. Foundy's efforts to streamline the process for all parties and its ambitious product roadmap were highlighted.

The advice was shared for creative agency and production company owners contemplating selling their businesses, focusing on building strategic and financial value, expanding the scope beyond traditional competitors when identifying potential buyers, and initiating preparations well before the intended sale.

Foundy aims to cultivate a robust community where founders can share knowledge and experiences. They advocate for active marketing and thought leadership, recognizing the importance of reputation and visibility in the market. By modernizing and democratizing buying and selling businesses, Foundry endeavors to provide founders with the tools, education, and networks they need to navigate this complex terrain successfully. What You Will Learn:

• Modernisation of M&A: Traditional M&A processes are being modernised for simplicity and accessibility, as exemplified by Joe Lewin's platform, Foundy.

• Technology Empowers Efficiency: Foundy uses technology for checklists, education, and legal support, reducing the need for lengthy advisory interactions.

• Democratising Access: Family aims to democratise business opportunities, focusing on cultural fit for businesses with £1M to £10M revenue.

• Foundy's Role: Foundy connects buyers and sellers, recognizing challenges in the process and striving for efficiency.

• Preparation and Community: Preparatino is vital, including building value and broadening buyer options. Platforms like Foundy support a knowledge sharing community

Connect with Joe Lewin: https://www.linkedin.com/in/jp-lewin/

List your business for sale on Foundy: https://partners.foundy.com/94mezf7xh8rz

Welcome to The Exit Plan, a podcast for business owners interested in learning more about selling their business.

In this episode, Emmie Faust, a mother of four and a serial entrepreneur, takes us on her journey through various businesses and her experience in the world of entrepreneurship. From her early days in field marketing to venturing into the online gambling industry, Emmie's story is one of determination and innovation.

Emmie shares how she founded Jack Media, a successful agency with about ten employees, and the pivotal moment when she decided to sell the business. Emmie also talks about the challenges of selling a business, including the absence of an earn-out and the decision to separate the management of Jack Media and GDM, a programmatic advertising venture that they launched. GDM's rapid growth and eventual acquisition are discussed, highlighting the complexities and opportunities that come with selling a business. Emmie shares her insights into the emotions and practicalities surrounding exits, emphasizing the role of luck and hard work.

Emmie discusses her current venture, Female Founders Rise, a community and support network for female entrepreneurs. She discusses the challenges and triumphs of this endeavor, emphasizing the importance of accessibility and collaboration.

Join Emmie Faust on her entrepreneurial journey, learn about her unconventional exits from Jack Media and GDM, and discover her commitment to supporting female entrepreneurs through Female Founders Rise.

WHAT YOU WILL LEARN:

• Emmie's early career on field marketing and transitioning into the online gambling industry

• The decision to sell Jack Media and the process of an informal merger with another agency.

• Balancing multiple businesses, including Jack Media and GDM, with her business partner.

• Emmie's experience of being pregnant during the sale and communicating this to buyers.

• The creation of GDM as a separate programmatic advertising venture and its rapid growth.

• Discussing the acquisition of GDM by another network following the sale of Jack Media.

• Details of the sale price and the various businesses Emmie and her partner had.

• Emmie's post-sale activities, such as angel investing in female founders and creating Female Founders Rise.

CONNECT WITH EMMIE:

• Website | emmiefaust.com

• LinkedIn | Emmie Faust

• Twitter | @emmiefaust

• Instagram | @emmiefaust

THE EXIT PLAN

The Exit Plan is for business owners that are interested in learning more about how to sell their business. Each episode Barnaby Cook interviews someone who has bought or sold a business - either a creative agency, or a production company. The conversation gets under the skin of why they wanted to sell, or were looking to acquire, how the deal was structured, how they agreed upon a valuation and what lessons they learnt along the way.

Welcome to The Exit Plan, a podcast for business owners interested in learning more about selling their business.

In this episode, we are joined by Richard Tompkins, Co-Founder of Where Eagles Dare and an award winning comms expert. Richard has experience working with a broad range of clients from exciting sustainable start-ups to FTSE100 companies. He has experience across sectors including travel, sport, finance, FMCG, aviation, technology and music.

Richard's journey into acquisitions began during his tenure as Managing Director at W Communications, where he helped grow the agency and embarked on an expansion drive that included several acquisitions. These acquisitions were motivated by the agency's desire for continuous growth and cost-efficiency. Richard emphasizes the importance of evaluating opportunities and understanding the cultural aspects of integration, which played a significant role in the success of these acquisitions. He shares insights into valuation, financing, and the challenges involved in integrating acquired teams.

After leaving W Communications in 2020, Richard launched Where Eagles Dare in September of the same year. The first year focused on establishing the agency, and the second year saw growth and the restructuring of ownership through a management buyout (MBO) in February. Richard's advice for business owners considering acquisitions or exits includes getting legal and financial matters in order, being honest about post-acquisition intentions and capabilities, recognizing the importance of relationships, understanding the realistic value of your business, and considering the impact of earnings on your workload and expectations.

Discover valuable lessons and expert advice from a comms pro who's been there, done that.

WHAT YOU WILL LEARN:

• Richard's experience with acquisitions during his time as Managing Director at W Communications.

• Valuation methods for acquisitions and the importance of assessing staffing and growth potential.

• Challenges and considerations during the integration of acquired teams, including cultural aspects.

• The transition from W Communications to launching Wear Eagles Dare in 2020.

• The initial challenges and adaptations faced during the first years of Wear Eagles Dare.

• Advice for business owners considering acquisitions or exits, including financial and relationship considerations.

CONNECT WITH RICHARD:

• Website | www.whereeaglesdare.co.uk

• LinkedIn | Richard Tompkins

THE EXIT PLAN

The Exit Plan is for business owners that are interested in learning more about how to sell their business. Each episode Barnaby Cook interviews someone who has bought or sold a business - either a creative agency, or a production company. The conversation gets under the skin of why they wanted to sell, or were looking to acquire, how the deal was structured, how they agreed upon a valuation and what lessons they learnt along the way.

Welcome to The Exit Plan, a podcast for business owners interested in learning more about selling their business.

In this episode, we dive into the world of PR and communications with industry veteran Laura O'Connell who is about to launch her consulting firm ‘Laura O’Connell Consultancy’. With a career spanning three decades, Laura guides us through her agency roots and her role as the inaugural head of Communications at Direct Line when she still works for them. Her entrepreneurial journey is a highlight, co-founding Wriglesworth Consultancy, which grew into an acclaimed agency with 30 employees and then sold it to Instinctif Partners.

Laura shares her work experience when she was with Instinctif Partners acquisition. She shares insights into valuation, deal structuring, and the appeal for buyers. Laura emphasizes strong team building and structured management as key to successful transitions

Laura's wisdom shines through as she reflects on the journey, offering advice to her younger self and aspiring entrepreneurs. She underscores the value of early planning, network building, and staying flexible. 

Join us as Laura's experience in entrepreneurship, growth, and strategic transition becomes a source of inspiration for anyone navigating the ever-evolving landscape of business.

WHAT YOU WILL LEARN:

• The significance of having a clear vision and a strategic plan from the outset of business

• The role of advisors, coaches, and a strong network 

• The balance between retained and project work in a client portfolio

• The process of structuring a deal, valuing a service-based business, and understanding the appeal to potential buyers

• The complexities of ownership structure, integration, and the transitioning process in the post-acquisition phase

• The importance of recognizing when it's the right time to move on from a business and embark on new endeavors

CONNECT WITH LAURA O’CONNELL:

• Website | www.lauraoconnell.co.uk

THE EXIT PLAN

The Exit Plan is for business owners that are interested in learning more about how to sell their business. Each episode Barnaby Cook interviews someone who has bought or sold a business - either a creative agency, or a production company. The conversation gets under the skin of why they wanted to sell, or were looking to acquire, how the deal was structured, how they agreed upon a valuation and what lessons they learnt along the way.

Welcome to The Exit Plan, a podcast for business owners interested in learning more about selling their business.

In this episode, Richard Bridge, Founder and CEO of Top Banana Communication Limited, shares the challenges he faced, including the unexpected departure of his business partner, which led to a solo journey as the CEO. He highlights the pivotal role of visibility in the industry and how it can open doors to potential buyers.

Richard's experience during the COVID-19 pandemic demonstrates the resilience of Top Banana, driven by adaptability and a focus on virtual events. Richard's decision to sell part of the business to TBA Group reflects a strategic move to seize a bigger opportunity while continuing to mentor others and grow personally within the group. He shares valuable insights on business valuation, multiples, and the importance of managing expectations when selling a business.

Richard Bridge's wisdom in this interview offers a wealth of knowledge and practical advice for entrepreneurs and business owners considering the path of growth, acquisition, or selling their businesses. Richard's journey exemplifies the rewards that come from careful planning, adaptability, and a passion for continual learning and growth.

WHAT YOU WILL LEARN:

• Top Banana's 24-Year Journey and Philosophy.

• Challenges and Evolution of Ownership.

• Impact of Co-Founder's Departure.

• Planning for Retirement and Business Valuation.

• Selling Attempts and Visibility.

• Structuring the Buyout and Transition.

• Selling Shares During the Pandemic.

• Transition to TBA Group and Personal Growth.

• Realistic Expectations in Business Sales.

• Determining Business Valuation Multiples.

• Due Diligence and Clear Plans.

• Life Choices Beyond the Sale.

CONNECT WITH RICHARD:

• LinkedIn | Richard Bridge

• Website | www.top-b.com

THE EXIT PLAN

The Exit Plan is for business owners that are interested in learning more about how to sell their business. Each episode Barnaby Cook interviews someone who has bought or sold a business - either a creative agency, or a production company. The conversation gets under the skin of why they wanted to sell, or were looking to acquire, how the deal was structured, how they agreed upon a valuation and what lessons they learnt along the way.