Build and Exit
As a chartered management accountant by trade, I uncovered my true potential at 37, moving from a well-paid corporate job to building my own accounting and consultancy firm. Having worked on 5-10 acquisitions or business exits each month for clients, I understand the key challenges business owners face, including getting the real value they want for their business, whilst having the right controls and processes in place so the business can run independently of the owners. The Build and Exit podcast will include conversations, stories and real-life examples of day-to-day challenges business owners face, different methods of growth including acquisitions and top tips on how owners can transition from working in their business to working on it, enabling them to maximize their value on exit. I will also include episodes where I share my own learnings on business management and how Wilkinson Accounting Solutions are planning to continue to grow by acquisition.
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Episodes
Monday May 13, 2024
Monday May 13, 2024
Acquisitions can be an opportunity to change your career.
But what if you quit your job and the deal falls through?
You’re left with no job and no deal.
This is exactly what happened to my guest in this episode, Steve Lawrence. The seller decided not to go ahead at the last-minute leaving Steve in the lurch.
Steve shares the ups and downs of his acquisition experience from his first failed acquisition to then finding the company he went on to buy through a Google search. He talks about the struggles and the positives after the acquisition went through, as well as his huge learning curve of why heads of terms are so important.
“The deal just completely fell out” – Steve Lawrence
Timestamps
01:49 - Steve's failed acquisition
03:39 - An introduction to Steve
07:32 - Did Steve get any reimbursements?
08:30 - Steve's successful acquisition
13:48 - The importance of heads of terms
17:41 - Post acquisition struggles
24:14 - Advice on small term loans
27:03 - Post acquisition positives
Connect with Steve
LinkedIn - https://www.linkedin.com/in/uncomplicatedsteve/
Uncomplicated Group - https://www.uncomplicatedgroup.co.uk/
Connect With Julie Wilkinson
LinkedIn - https://www.linkedin.com/in/juliewilkinson-accounting/
Tik Tok – https://www.tiktok.com/@wasolutions
YouTube - https://www.youtube.com/channel/UCUvq6gfNoP_4dfIJulL6C6A
Facebook - https://www.facebook.com/wilkinsonaccountingsolutions
Website - https://wilkinsonaccountingsolutions.co.uk/
Before you go, don’t forget to leave a comment and review if you got something out of this episode!
Monday Apr 29, 2024
Monday Apr 29, 2024
Imagine not even knowing you are about to go bankrupt.
Many business owners don’t know what is going with their accounts. With £5 million pounds of debt and another £1 million in stocks that anyone could have taken, this was the reality for one business.
In this episode I am joined by Judith Hamilton and Christine Nicholson, 2 brilliant women working in the exit planning and financial world. We share our experiences working with businesses and what needs to be in place for a well-structured exit.
We also discuss what corporate governance is and why it matters for businesses and exit plans, what you should be looking for in people and why you need to keep your processes simple.
“By the time I opened all the envelopes, have discovered that this business was £5 million in debt” – Christine Nicholson
Timestamps
00:58 - An introduction to Judith and Christine
04:50 - What does processing systems mean?
08:39 - Start with simple processes
12:13 - The key things around controls
20:09 - Governance information needed at exit
26:45 - What you should be looking for with people
31:06 - The 2 biggest things Julie's sees in exits
Connect with Judith
LinkedIn - https://www.linkedin.com/in/judith-hamilton/
Instagram - https://www.instagram.com/judith_evimero/
Connect with Christine
LinkedIn - https://www.linkedin.com/in/christine-nicholson/
Christine’s website - https://christinenicholson.co.uk/
Get Exit Ready - https://getexitready.co.uk/
Connect With Julie Wilkinson
LinkedIn - https://www.linkedin.com/in/juliewilkinson-accounting/
Tik Tok – https://www.tiktok.com/@wasolutions
YouTube - https://www.youtube.com/channel/UCUvq6gfNoP_4dfIJulL6C6A
Facebook - https://www.facebook.com/wilkinsonaccountingsolutions
Website - https://wilkinsonaccountingsolutions.co.uk/
Before you go, don’t forget to leave a comment and review if you got something out of this episode!
Monday Apr 15, 2024
Monday Apr 15, 2024
Most businesses are built from people’s dreams. The challenge is taking it from that dream to reality.
In this episode I am joined by Nigel Carley who has achieved this through creating The Pinelli Group, as he approached retirement. A company that sells properties in Italy through fractional ownership.
Nigel fell in love with Italy over his career with Alfa Romeo and through hard work and investing his time he found the right properties that would allow him to create the business he dreamed of.
He shares his story on how he created the business, found the properties and transitioned from retirement to business owner.
“Everyone I spoke to literally said, you're absolutely bonkers” – Nigel Carley
Timestamps
02:16 – A personal story of how The Pinelli Group started
11:07 – Successful businesses are built off of dreams
17:30 – Transitioning from retirement plan to business
23:00 – Making it affordable for investors
30:20 – How Nigel’s mindset changed
34:44 – You have to put in the hard work to create change
37:47 – Did Nigel face any negativity?
40:34 – What properties does Nigel currently have
Connect with Nigel
The Pinelli Group - https://thepinelligroup.com/
Facebook - https://www.facebook.com/thepinelligroup
Instagram - https://www.instagram.com/thepinelligroup/
LinkedIn - https://www.linkedin.com/in/nigel-carley-94a024298/
Connect With Julie Wilkinson
LinkedIn - https://www.linkedin.com/in/juliewilkinson-accounting/
Tik Tok – https://www.tiktok.com/@wasolutions
YouTube - https://www.youtube.com/channel/UCUvq6gfNoP_4dfIJulL6C6A
Facebook - https://www.facebook.com/wilkinsonaccountingsolutions
Website - https://wilkinsonaccountingsolutions.co.uk/
Before you go, don’t forget to leave a comment and review if you got something out of this episode!
Monday Apr 01, 2024
Monday Apr 01, 2024
Financial freedoms means different things to everybody. Achieving it means living the life you want but imagine having it and then losing it all.
In this episode I am joined by Meena Adnani, who worked hard against the expectations those around her had. She was judged, because of being a woman and also because of her cultural background. All of which she blocked out to reach her dreams and achieve financial freedom.
She reveals how she lost everything to then build her life back up and reach 7 figures. And she shares how she achieved this, the connection between self-worth and net worth and the importance of a growth mindset.
“All the money that I saved until I was 46 was gone” – Meena Adnani
Timestamps
02:09 – The importance of adversity to Meena
05:50 – Meena’s constant need to prove herself
12:03 – Meena on coping with financial loss
18:07 – Julie’s personal healing journey
22:03 – Meena on overcoming financial loss
28:25 – The importance of a growth mindset
Connect with Meena
LinkedIn - https://www.linkedin.com/in/meena-kumari-adnani/
YouTube - https://www.youtube.com/STRONGANDSHINE
Strong and Shine - https://www.strongandshine.com/
Linktree - https://linktr.ee/meenakumariadnani
The Comeback Masterclass - https://www.strongandshine.com/the-comeback
Connect With Julie Wilkinson
LinkedIn - https://www.linkedin.com/in/juliewilkinson-accounting/
Tik Tok – https://www.tiktok.com/@wasolutions
YouTube - https://www.youtube.com/channel/UCUvq6gfNoP_4dfIJulL6C6A
Facebook - https://www.facebook.com/wilkinsonaccountingsolutions
Website - https://wilkinsonaccountingsolutions.co.uk/
Before you go, don’t forget to leave a comment and review if you got something out of this episode!
Monday Mar 18, 2024
Monday Mar 18, 2024
Imagine going from waitress to financial freedom all through acquisitions.
That is exactly what my guest in this episode, Della Kirkman, achieved. She found a way to buy small businesses and grow them organically to build and exit. She is now on a mission to supports 10,000 women to build wealth through acquisition.
In this episode Della reveals how she achieved financial freedom through acquisitions, and how she changed her career from waitress to business owner. She also shares her experiences in making the deals and what her top tips are for anyone looking to take the leap into entrepreneurship.
“I bought a job and grew that organically and was able to exit” – Della Kirkman
Timestamps
01:47 – From waitress to business owner
04:38 – What the deal structure looked like
07:30 - Buying and selling with creative financing strategies
10:55 – How Della’s deal worked
12:30 – The power of confidence in making deals
16:55 – Della’s top tips for becoming a business owner
Connect with Della
LinkedIn - https://www.linkedin.com/in/dellakirkmancpa/
Shift-n-Gears - https://www.shift-n-gears.com/
Shift-n-Gears Newsletter - https://www.shift-n-gears.com/newsletter
9 Steps to selling your business - https://www.shift-n-gears.com/9-steps-to-selling-your-businessDella's Acquisition Expressway - https://www.dellakirkman.com/a/2147831762/qLE3Joz6
Connect With Julie Wilkinson
LinkedIn - https://www.linkedin.com/in/juliewilkinson-accounting/
Tik Tok – https://www.tiktok.com/@wasolutions
YouTube - https://www.youtube.com/@wilkinsonaccountingsolutio4018
Facebook - https://www.facebook.com/wilkinsonaccountingsolutions
Website - https://wilkinsonaccountingsolutions.co.uk/
Before you go, don’t forget to leave a comment and review if you got something out of this episode!
Monday Mar 04, 2024
Monday Mar 04, 2024
Acquisitions would be far easier if all sellers were educated on what’s involved.
Knowing what happens post-acquisition is part of the learning that needs to happen to secure a successful deal.
In this episode Kush Birdi and I discuss the importance of KPI based target setting and why you should audit the legal aspects of your deals. We also share why being truthful is so important for the seller to ensure the buyer sees your business as a good deal. We also talk about the fact that selling in full is not your only option for a happy retirement.
“You’ve got to know the truth” – Julie Wilkinson
Timestamps
02:41 - What post acquisition integration involves
04:52 - Why targets need to come from KPIs
06:39 - Auditing your legals
08:52 - Why sellers need to know the truth
11:09 - Why you need to invest in the right resources
14:51 - Becoming a more educated seller
Connect with Kush Birdi
LinkedIn - https://www.linkedin.com/in/kushbirdi/
X - https://twitter.com/KushBirdi
Facebook - https://www.facebook.com/BirdiandCoSolicitors/
YouTube - https://www.youtube.com/channel/UCnxnIW2dWuwRRMTLC4-tUhg
Instagram - https://www.instagram.com/birdiandcosolicitors/
TikTok - https://www.tiktok.com/@birdiandcosolicitors
Birdilaw - https://birdilaw.com/
Connect With Julie Wilkinson
LinkedIn - https://www.linkedin.com/in/juliewilkinson-accounting/
Tik Tok – https://www.tiktok.com/@wasolutions
YouTube - https://www.youtube.com/@wilkinsonaccountingsolutio4018
Facebook - https://www.facebook.com/wilkinsonaccountingsolutions
Website - https://wilkinsonaccountingsolutions.co.uk/
Before you go, don’t forget to leave a comment and review if you got something out of this episode!
Monday Feb 19, 2024
Monday Feb 19, 2024
Imagine being in £100K of debt because of a scam.
This is a nightmare situation for any business owner who puts their trust into others and is exactly the position my guest, Kath Jones found herself in.
She is the founder of Think Wine Group and ended up losing £100K after her agent scammed her and the funding she got to salvage the situation never came through.
Kath shares how all of this has impacted her mental health as well as the business and the lessons she has learned from it. She also discusses the steps she is taking to ensure this never happens again.
“Nobody knew where he had gone, the winery couldn't find him, it was just crazy” – Kath Jones
Timestamps
01:58 - Kath on starting her wine business
06:21 – Kath’s experience with investment scams
10:55 – The consequences of being scammed
15:29 - Dealing with anxiety and denial in a business deal
19:32 – What Kath wishes she had done differently
26:40 – The most important lesson to learn
Connect with Kath Jones
LinkedIn - https://www.linkedin.com/in/katherine-jones-638682a0/
Think Wine Group - https://www.thinkwinegroup.co.uk/
Connect With Julie Wilkinson
LinkedIn - https://www.linkedin.com/in/juliewilkinson-accounting/
Tik Tok – https://www.tiktok.com/@wasolutions
YouTube - https://www.youtube.com/@wilkinsonaccountingsolutio4018
Facebook - https://www.facebook.com/wilkinsonaccountingsolutions
Website - https://wilkinsonaccountingsolutions.co.uk/
Before you go, don’t forget to leave a comment and review if you got something out of this episode!
Monday Feb 05, 2024
Monday Feb 05, 2024
Not being aware of the financial or legal implications of a deal can have disastrous consequences.
From intellectual property protection, staffing issues to outstanding debts, there are many aspects of a deal that need to be checked as part of your due diligence.
In this episode Kush Birdi and I discuss where due diligence can impact deals and our personal experiences working with both sellers and buyers throughout the due diligence process. We cover where lawyers and accountants fit into the process and the biggest problems we have seen throughout our time working in the acquisitions space.
“On the legal side due diligence is so important” – Kush Birdi
Timestamps
02:41 - How Julie supports acquirers with due diligence
05:09 - Where due diligence impacts deals
08:11 - Why due diligence is important for legals
11:15 - Julie's experiences post acquisition
15:12 - Due diligence and lawyers
18:38 - The completion accounts process
20:25 - The biggest problem in acquisitions
Connect with Kush Birdi
LinkedIn - https://www.linkedin.com/in/kushbirdi/
X - https://twitter.com/KushBirdi
Facebook - https://www.facebook.com/BirdiandCoSolicitors/
YouTube - https://www.youtube.com/channel/UCnxnIW2dWuwRRMTLC4-tUhg
Instagram - https://www.instagram.com/birdiandcosolicitors/
TikTok - https://www.tiktok.com/@birdiandcosolicitors
Birdilaw - https://birdilaw.com/
Connect With Julie Wilkinson
LinkedIn - https://www.linkedin.com/in/juliewilkinson-accounting/
Tik Tok – https://www.tiktok.com/@wasolutions
YouTube - https://www.youtube.com/@wilkinsonaccountingsolutio4018
Facebook - https://www.facebook.com/wilkinsonaccountingsolutions
Website - https://wilkinsonaccountingsolutions.co.uk/
Before you go, don’t forget to leave a comment and review if you got something out of this episode!
Monday Jan 22, 2024
Monday Jan 22, 2024
Heads of terms are a key aspect of any acquisition.
The buyer and seller need to agree on these to show serious intent for the deal. But there are many key issues both parties need to be aware of. In this episode Kush Birdi and I discuss our experiences working with heads of terms.
We also share how the buyer and seller can become aligned and why this is so important. The common problems that can arise whilst creating heads of terms and crucially what you need to make sure is in them.
Kush Birdi is the Co-Founder & Managing Partner of Birdi & Co. An independent, multi-service law firm that believes by bringing energy and positivity to everything they do, working across commercial, corporate law, employee and finance law specialising in M&A.
“Most people don’t understand the importance of heads of terms” – Julie Wilkinson
Timestamps
02:41 - Julie's experience with heads of terms
06:32 - The importance of a good advisory team
07:59 - The buyer and seller need to be aligned
12:40 - Why you should get 3rd party advisors
15:55 - What needs to be in heads of terms?
12:24 - The importance of exclusivity in acquisitions
24:12 - Common issues with heads of terms
26:28 - People want to buy an asset not a job
Connect with Kush Birdi
LinkedIn - https://www.linkedin.com/in/kushbirdi/
X - https://twitter.com/KushBirdi
Facebook - https://www.facebook.com/BirdiandCoSolicitors/
YouTube - https://www.youtube.com/channel/UCnxnIW2dWuwRRMTLC4-tUhg
Instagram - https://www.instagram.com/birdiandcosolicitors/
TikTok - https://www.tiktok.com/@birdiandcosolicitors
Birdilaw - https://birdilaw.com/
Connect With Julie Wilkinson
LinkedIn - https://www.linkedin.com/in/juliewilkinson-accounting/
Tik Tok – https://www.tiktok.com/@wasolutions
YouTube - https://www.youtube.com/@wilkinsonaccountingsolutio4018
Facebook - https://www.facebook.com/wilkinsonaccountingsolutions
Website - https://wilkinsonaccountingsolutions.co.uk/
Before you go, don’t forget to leave a comment and review if you got something out of this episode!
Monday Jan 08, 2024
Monday Jan 08, 2024
There are many risks to consider as a buyer in acquisitions.
Not being prepared can have severe consequences. You need to do your due diligence and plan every aspect to ensure its success.
In this episode I am joined by Kush Birdi to tell you all you need to know about the legal consequences buyers can face and how to ensure you are covered all the way through your acquisition process. From risk planning, corporate governance to due diligence we cover it all, as well as our views on no money down deals.
Kush Birdi is the Co-Founder & Managing Partner of Birdi & Co. An independent, multi-service law firm that believes by bringing energy and positivity to everything they do, working across commercial, corporate law, employee and finance law specialising in M&A.
“Good bookkeeping is the foundation to all accuracy” – Julie Wilkinson
Timestamps
01:42 - An introduction to Kush
02:48 - Financial information companies need
07:26 - What are buyers looking for?
12:46 - Getting the right deal team
16:21 - The importance of risk planning
20:38 - No money down deals
25:56 - The more you plan the easier it will be
Connect with Kush Birdi
LinkedIn - https://www.linkedin.com/in/kushbirdi/
X - https://twitter.com/KushBirdi
Facebook - https://www.facebook.com/BirdiandCoSolicitors/
YouTube - https://www.youtube.com/channel/UCnxnIW2dWuwRRMTLC4-tUhg
Instagram - https://www.instagram.com/birdiandcosolicitors/
TikTok - https://www.tiktok.com/@birdiandcosolicitors
Birdilaw - https://birdilaw.com/
Connect With Julie Wilkinson
LinkedIn - https://www.linkedin.com/in/juliewilkinson-accounting/
Tik Tok – https://www.tiktok.com/@wasolutions
YouTube - https://www.youtube.com/@wilkinsonaccountingsolutio4018
Facebook - https://www.facebook.com/wilkinsonaccountingsolutions
Website - https://wilkinsonaccountingsolutions.co.uk/
Before you go, don’t forget to leave a comment and review if you got something out of this episode!
