My Journey in Business Exits
Have you ever been dazzled by a consultant's pitch, only to be disappointed by the actual service?
About 15 years ago, I was running my first company, Potentia. We had managed to thrive during the Global Financial Crisis with creative strategies, leading to steady double and occasionally triple-digit growth. Our unique services and loyal staff and customers helped us build a strong market presence. As a result, larger competitors often approached us with acquisition offers. Initially, my answer was always NO. However, I eventually decided to seek expert advice for a potential future exit.
I turned to one of the "Big 4" global accounting firms. The partner who came for the initial consultation was impressive and convincing, promising a thorough valuation and strategies to boost the company's value. All for a fee of $20k; seemed reasonable!
This marked my first encounter with the consulting “bait and switch.” Instead of continued consultations with the partner, I was handed over to two graduates with barely two years of experience between them. Despite my doubts, I provided them with all the necessary information. Two weeks later, I received an extensive report, only to find it filled with errors and irrelevant content from other reports. The document was clearly a poorly customised boilerplate.
After fixing these issues, I received some relevant valuation comparisons. However, the advice on enhancing the company's value was disappointingly basic: increase revenue and drive up profitability. Surely this is common knowledge? Believing there was a better way, my journey of self-education and deep experience began.
Since then, I’ve personally exited five ventures and helped many others through my angel portfolio. Now, I advise business owners on how to build value and navigate their exits, leveraging the hard-earned lessons from my own experiences.
Cheers,
Josh
"A wise man learns by the mistakes of others, a fool by his own."
– Latin Proverb
"The only source of knowledge is experience."
– Albert Einstein
Offer that may interest you:
In case you missed it, I announced on LinkedIn yesterday the release of my new e-book, “The Exit Factor: Sell Your Company for a Life-Changing Sum”!
This comprehensive guide is designed to provide you with the strategies and insights you need to maximise your business's value and plan a successful exit.
🔍 What Can You Expect?
My own IP outlining the different types of exit
Proven methods to enhance business value
The biggest lessons learnt post-exit
Practical tips to navigate the complexities of selling your business
The official release of "The Exit Factor" is just around the corner. If you’d like to be the first people to receive the e-book, click here to join the waitlist. We’ll send you your copy once available.
