The Ultimate FD Podcast

EP#16 SELL OR SURRENDER - MEET THE MAN WHO BOUGHT MY BUSINESS

NEXT LEVEL ENTREPRENEURSHIP ALERT 

Every entrepreneur will exit their business at some point. Will you sell or surrender?

In this episode we go behind the scenes with a VERY special guest. Meet the award winning author and entrepreneur who bought my business Richard Brown.

PART 2 OF 2 - VALUING YOUR BUSINESS

Richard is on a whole other LEVEL! He looks at businesses, investing, and entrepreneurship VERY differently to you. Time to get inside his head.

Whether you are thinking of exiting your business or keeping it forever this episode is for you. Don’t work every hour under the sun on a business with no value. Understand exactly where to focus your energy to not only build a business that serves you but also have a significant sale value should you wish to sell it.

This was such a pleasure to record and probably the HIGHEST value ULTIMATE FD Podcast episode yet!

SELL OR SURRENDER - MEET THE MAN WHO BOUGHT MY BUSINESS

NEXT LEVEL ENTREPRENEURSHIP ALERT

Every entrepreneur will exit their business at some point. Will you SELL at the top or SURRENDER and go down with the ship?

In this episode we go behind the scenes with a VERY special guest. Meet the award winning author and entrepreneur who bought my business Richard Brown.

PART 1 OF 2 - BUILDING A BUSINESS OF VALUE

Richard is on a whole other LEVEL! He looks at businesses, investing, and entrepreneurship VERY differently to you. Time to get inside his head and see your business through the lens of a potential buyer.

Whether you are thinking of exiting your business or keeping it forever this episode is for you. 

Don’t work every hour under the sun on a business with no value. Understand exactly where to focus your energy to not only build a business that serves you but also have a significant sale value should you wish to sell it.

This was such a pleasure to record and probably the HIGHEST value ULTIMATE FD Podcast episode yet!

Look out for Part 2 next week

BE YOUR BEST CUSTOMER - ARE YOU YOUR OWN LARGEST CUSTOMER?

No one is talking about this.

If you own a letting agency, sourcing business, SA management company, development company etc then this one is for you.

When we start service based business it is normally to service ourselves first, before we know it we have a number of external customers to look after as well as ourselves. As your business grows and develops, so should the way you manage yourself as a customer to your own business.

Get this wrong and you will end up with a demotivated team, a lack of financial clarity, and a business that you cannot scale.

Get this right and scale a standalone business with a saleable value.

What price will you charge yourself?

How should your service levels differ from those of your clients?

How do you ensure tax is optimised?

Set this up once, and set it up right. Be your best customer and ensure your business continually drives improvement week in week out.

THE THREE PILLARS - BORING EPISODE ALERT - DO NOT LISTEN This episode is NOT for everyone.

Few entrepreneurs know what the THREE PILLARS of financial reporting are, and even fewer know how to interpret them. These entrepreneurs never make a profit. They do not create value in their company. They are constantly out of cash.

THE THREE PILLARSPAST - Profit & Loss

PRESENT - Balance Sheet

FUTURE - Cash Flow Forecast

In this episode we are going to DEEP DIVE into each statement to make it explicitly clear how to understand and interpret each. You may not want to know this BUT YOU NEED TO!

Do not rely on your Accountant as they do not know how to use these in your business.

Successful Entrepreneurs are fluent in finance. You MUST be too.

MEET THE PROFESSIONALS - £60,000 AND 18 MONTHS INTO 30 MINUTES (FOR FREE)

Most entrepreneurs are doing the accounts themselves (badly) or overpaying to have them outsourced (badly). You NEED a team of just FIVE world class professionals to manage your accounts for you.

Once in place, you will have EVERYTHING you need to maximise your margins, do less, get paid more and sleep soundly at night. What's more is this solution has never been more obtainable and affordable.

MEET THE PROFESSIONALS

It cost me over £60,000 and took me 18 months to find the solution which I am sharing with you for FREE in just 30 minutes. By the end of this podcast you will know how to implement a WORLD CLASS, HIGHLY QUALIFIED TEAM to run all of your finances for you allowing you to gain more clarity than ever before, increasing your margins and reducing your stress levels.

Right people, right job right price! Do not let the wool be pulled over your eyes. It is more simple than you think.

DELEGATE YOUR PAYMENTS FRAUD DETECTED - ONLINE BANKING BLOCKED - GO TO BRANCH

Too many entrepreneurs are stuck making the payments in their business as they cannot see how they could possibly outsource this WITHOUT increasing the risk to them and their business.

You NEED to delegate this to a team member so you can focus on HIGH VALUE tasks. Payroll, supplier payments, ad hoc payments can all be delegated with MINIMAL RISK.

No more logging in on holiday to pay your team! This system covers all bases. There is no one size fits all. Select the right solution for your business.

I tried to make my first payment in around 2 years last month. It should have taken 2 minutes. The bank blocked me but instantly rang me, leaving me on hold for an hour. They then told me I needed to go to the branch to get the bank unblocked. What should have been a 2 minute job turned into a 3 hour experience all to transfer £750

NEVER AGAIN!Use this system to effectively Delegate Your Payments once and for all.

YOU CAN'T AFFORD NOT TO - FIVE LINES YOU NEED IN YOUR P&L

I CAN'T AFFORD THAT!!You can't afford not to…

Most entrepreneurs are majoring in minor things. Spending time, money and resources on 'nice to haves' in their business without realising what is actually important and will serve them for years to come.

In this episode, I will reveal FIVE line items that you NEED in your P&L this year. These items are investments and not costs and if you do not have them you will likely struggle to achieve what you set out to in 2022.Think you can't afford them? You cannot afford not to have them!All successful entrepreneurs spend heavily in these areas, and guess what you can have the same benefits for a fraction of the spend! As an FD these are rarely items I will ever advise that we minimise or cut back.

Enjoy the episode and please comment with any items you believe are items your business cannot live without.

THIS WILL CHANGE YOUR LIFE DO NOT MISS THIS OPPORTUNITY - NEW YEAR, NEW FORECAST

Most entrepreneurs make arbitrary commitments focused on sales and growth for the year ahead. They show up and hope for the best. How often can you honestly say that what you hoped would happen in the next 12 months actually did?

On ULTIMATE FD we work meticulously with clients to ensure they have a 12 month forecast for each of their businesses signed off by the 1st April. Every element is considered and they know (to the penny) exactly what they need to do to achieve exactly what they want every month without fail.Most importantly, they know exactly what they will draw by when meaning their business finally starts to pay them for the hours and hours of hard work they plow in.DO NOT MISS THE BOATBy the end of this podcast you will know our unique, proven, and simple methodology to forecast your results for the next financial year ahead. This will be your best year on record if you follow this simple methodology.Best of luck.

SELLING MY BUSINESS - EXCLUSIVE, BEHIND THE SCENES

DO I REGRET IT?

Selling my business was easily the hardest decision I EVER made and for most entrepreneurs it will be.

Do you sit behind the safety net of a brilliant business or do what you think is right and take the plunge into the abyss?

I shared publicly that as of 31st December 2021, I sold my largest business and since sharing, I have had a flurry of private messages from people asking lots of different questions:

• Why did I sell?
• What was the state of the business when I sold it?
• What will you do now?
• Should I sell mine?
• How do I max out my price? What multiplier will I get?

In this episode I am going to go behind the scenes and answer all of these questions. I am going to be open, honest, transparent and some of the responses may not exactly be as you would expect.

Listen to the end to get top tips and honest feedback on whether three months on it is a decision I live to regret.

LIVING AN EXTRAORDINARY LIFE - SIX MONTHS INTO RETIREMENT

Adam sold his business in 2020 and now he is living an extraordinary life of fun, snow, sea, sand, travelling the world and ticking off his bucket list and has been doing so for the last 6 months.

In this episode we get behind the scenes with Adam to actually understand what doing this is like in practice and if the realities of retirement are all that they are cracked up to be. In addition, we are going to talk about how Adam actually achieved retirement over a 10-15 year process and how you can do the same too.

Adam's life on Instagram is something to be highly envious of; but it is also something that is actually quite achievable if you are clever, savvy and you use some of the investing tips and tricks within our podcast to achieve them.

Please note this is NOT investing advice. Everyone is different and you need to find your own course; but if you take some of this, apply it and are patient. You are likely to see a shift towards a lifestyle that you could only ever dream of.

In this episode we are going to talk about:

• How Adam lives
• How he got there
• Inflation anxiety
• Compound Interest
• Becoming a Millionaire
• What life is actually like in retirement
• The pitfalls, if any
• The investing in the Stock-market and Crypto

This really is one for those who are really looking to go on a journey to achieve their absolute world-class dream lifestyle and it is very interesting to go behind the scenes with someone who has actually done it in practice.

Tune in, listen and remember this is NOT investment advice.