S02E05 - The Secret Accountant - How Do You Really Sell Your Business?

02/23/23 • 76 min

I’ve been following an anonymous account on Twitter for some time, and I’ve really enjoyed a lot of the content and thoughts shared on some of my favourite topics such as entrepreneurship, mergers & acquisitions, and intelligent investing.
The Twitter handle is an anonymous one - The Secret Accountant, but I can now officially reveal the identity of this mysterious business expert as being none other than Mr Craig Richardson.
There’s a good reason for the nom de plume which he explains during our conversation, but the headline relates to a new book that he recently published called "How Do You Really Sell Your Business" - which is obviously right in the sweet spot for you if you’re a bulletproof entrepreneur and a fan of this podcast.
And the good news is that to celebrate this episode, Craig AKA The Secret Accountant has slashed the price it sells for on Amazon for the next few weeks!
So, as soon as you’ve listened to this episode, jump over to Amazon, and grab your copy - the link is in the show notes.
Now Craig’s got an incredibly interesting back story. He’s been a poacher turned gamekeeper turned poacher again and is reluctant to call himself an entrepreneur – he says that if indeed he is an entrepreneur, he’s an accidental one!
He started by qualifying as a chartered accountant in the corporate finance team at KPMG and it was there that he caught the bug of working with founder owners. He just loved helping them grow their companies and plan a successful sale and exit.
But then came a change of strategy at KPMG and their desire to focus on bigger corporate clients. So, Craig decided to leave to be able to continue to work with SME business owners, which is where his passion always was.
Since then, he’s spent more than 20 years helping entrepreneurs successfully grow, improve, and sell their businesses and now runs his own company where he continues to advise, consult, and invest in companies and their owners.
I found it fascinating listening to him explain that the skills required to take a company from £1m to £5m turnover are different to those needed to take a company from £5m to £10m and then to £20m and above - some great insights wherever you are on that scale.
He also talks of the importance of what he calls the magical entrepreneurial dust that only a founder is capable of sprinkling over his company and why they should focus on this more than some of the more regular day-to-day roles
And as someone who's worked with business owners and continues to support them, he breaks down the key attributes which are essential in an ideal ‘Trusted Adviser’ relationship which is designed specifically for entrepreneurs.
Ladies and gentlemen, I give you Craig Richardson AKA The Secret Accountant

Links

The Secret Accountant (@TheSecretAcct) / Twitter

Craig Richardson - Non Executive Director - BIL Group | LinkedIn

DSW Consulting

PHD Industrial Holdings

How do you really sell your business - Book offer

This podcast is produced by GR Media
Sponsored by Capital Asset Management

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Links

The Secret Accountant (@TheSecretAcct) / Twitter

Craig Richardson - Non Executive Director - BIL Group | LinkedIn

DSW Consulting

PHD Industrial Holdings

How do you really sell your business - Book offer

This podcast is produced by GR Media
Sponsored by Capital Asset Management

Previous Episode

S02E04 - Denise Logan - The Seller’s Journey; Selling Your Business is a Transition Not a Transaction

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You've heard of a ‘horse whisperer’, perhaps a ‘dog whisperer’, but you’ve probably never heard of a ‘seller whisperer’ - but that’s exactly what Denise has become known as.
With a background as a mental health professional turned lawyer who went on to build her own legal practice, she then sold her business. Rather unsuccessfully, in her own words.
During this time, she learned a lot of lessons and has now carved out a role as a specialist adviser, coach, consultant, speaker, and writer on the complex subject of selling your business - the emotional journey as well as the business journey.
I've often referred to the content of this podcast as being at the intersection of business, money, family and life and, honestly, no one is better qualified to speak on that precise intersection than Denise.

One of the best storytellers you're ever likely to encounter, she is the author of an incredible book called The Seller’s Journey, which is essential reading for anyone who's building a business and anyone who advises business owners.
Denise reminds us that, whether you like it or not, you are leaving your business one day. It’s not ‘if’, it's ‘when’ - and the worst thing that you can do for yourself, your business, your employees and your family is to be unprepared.
In a wide-ranging conversation, we cover a lot of issues including.

What are the key attributes to look for in a trusted adviser and someone that will help you navigate the challenging process before, during and after the business sale?
Understanding something she calls “O-MY Syndrome” and how to avoid the hidden road bumps that will kill your deal.
A process to help you get clear on everything that your work currently provides for you - other than money and financial security. Understanding this and preparing for life after your sale is essential in ensuring a successful transition.

Towards the end, Denise shares a deeply personal story which will help you focus on what's truly important in your own life.
A wonderful conversation with a lady who's been there, seen it, done it and come out the other side - and now spends her life sharing her insights and wisdom with other entrepreneurs.
The links to her book, website and contact details are all in the show notes.
I give you - Denise Logan

Links:

https://deniselogan.com/

https://www.linkedin.com/in/deniselogan/

https://twitter.com/DeniseLoganUSA

https://deniselogan.com/the-sellers-journey/

This podcast is produced by GR Media
Sponsored by Capital Asset Management

Next Episode

S02E06 James Crotty - M&A Lawyer - The 8 Steps to a Successful Business Sale and Exit.

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One of the original ideas behind the podcast was to create a repository of essential insights, experiences, and information. A knowledge hub that you can dip in and out of whenever you needed to be reminded of key issues throughout your business journey.
One thing is certain and that is that you’ll need to work with a lawyer at some point, and judging from conversations I’ve had with previous guests, understanding the role of a corporate lawyer, and finding a good one is a vital part of the process.
I’ve known today’s guest, James Crotty of Foot Anstey for a few years. I worked with him on a transaction where I was buying another wealth planning business a couple of years ago.
I got to know James and his team and found them to be supremely professional, of course, but equally as important, they were very human and recognized the emotional strain that owners are under as a transaction proceeds.
So, I was keen to get him on the podcast to share his experience and his wisdom.
What we have is a masterclass covering all the legal aspects involved in selling your businesses, - from before there’s even a deal on the table, right through to well after the sale has concluded and you're on to your next adventure.
James reveals his 8-step process, breaks it down in detail and outlines what to expect and how to prepare for the experience.
Towards the end, he explains a new service that he’s recently launched that, I believe every business owner who thinks they may sell at some point should look at.
The episode is a bit longer than the others, but there’s a lot involved in the legal process.
Exploring the essential legal information, you need to know before selling a business, ladies, and gentlemen I give you Mr. James Crotty.

Links:

https://www.footanstey.com/our-people/james-crotty/

https://uk.linkedin.com/in/james-crotty-0b8a5062

This podcast is produced by GR Media
Sponsored by Capital Asset Management