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 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!
Monday Dec 04, 2023
Monday Dec 04, 2023
Have you checked your brand’s intellectual property?
Imagine having £7million of investment held because you found another business already had your name. This is exactly what happened to a company my guest in this episode, Matthew Cusack, is working with.
Matt is Managing Director of National Business Register Group Limited (NBR), an Intellectual Property business, and is responsible for driving the business’ strategy and growth plans. He firmly believes that “people buy people” and relationships are key to the growth of any successful business.
In this episode he discusses the importance of IP (Intellectual Property) to businesses and the risks of not protecting your brand. He also shares what to have in your shareholder agreements and what to do if you are concerned about your IP.
“Every transaction is unique, and every transaction throws up its challenges” – Matthew Cusak
Timestamps
01:35 – An introduction to Matthew
03:10 – What IP is and why it’s important
05:40 – The risks of not protecting your brand
10:28 – What to have in a shareholder agreement
15:10 – Why you need to understand accounting principles
21:27 – The unique challenges of every transaction
23:49 – What to do if you are concerned about IP
Connect with Matthew Cusak
LinkedIn - https://www.linkedin.com/in/matthew-cusack-8a209534/
National Business Register LinkedIn - https://www.linkedin.com/company/start-biz-nbr/
National Business Register Linktree - https://linktr.ee/corinelliott
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!
Download the RacketPal app and get a 50% discount with this podcast when you enter WILKPAL at sign up.
RapketPal on the App Store - https://shorturl.at/iDFIS
RacketPal on Google Play - https://shorturl.at/givA2
Monday Oct 30, 2023
Monday Oct 30, 2023
You must get used to hearing “No” when trying to raise funds to start a business idea. Knowing that eventually you will hear the yes you need is all the motivation you need to keep going.
That was the belief my guest in this episode had to get his idea off the ground. Robert Riza is the Co-Founder and CEO of RacketPal, a platform built out of a love for racket sports.
He talks about what it took to get funding for the project and how getting the funding was only the start of the challenges he faced. He also gives advice on what you need to generate funding and the information he reports to investors.
“I just knew that the next person I called the next person I reached out to, the next person I emailed could change my life” – Robert Rizea
Timestamps
02:12 - An introduction to Robert
03:55 - Making a plan for the money needed
09:53 - The challenges of phoning for funding
14:22 - What you need to start a funding round
18:59 - Pricing founder salaries into funding
20:50 - Reporting financials to investors
27:25 - What is the future for RacketPal?
Connect with Robert Rizea
LinkedIn - https://www.linkedin.com/in/robert-rizea/?originalSubdomain=uk
Twitter - https://twitter.com/robertrrizea?lang=en-GB
RacketPal website - https://racketpal.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!
Download the RacketPal app and get a 50% discount with this podcast when you enter WILKPAL at sign up.
RapketPal on the App Store - https://shorturl.at/iDFIS
RacketPal on Google Play - https://shorturl.at/givA2
Monday Oct 16, 2023
Monday Oct 16, 2023
This is part 2 of a special episode of The Build & Exit podcast where the tables get turned and Julie is in the hot seat. Julie was interviewed live on NTV to tell her personal and business story.
In this episode Julie gives the business side of her story, talking about how her business journey started, the advice she has for people looking to become entrepreneurs and the fundamentals that every business owner should have in place when running a business.
“Try and step outside of your comfort zone” – Julie Wilkinson
Timestamps
05:18 – Julie hands in her notice
07:28 – How Julie got into acquisitions
09:39 – Why Julie started her podcast
12:46 – The importance of valuing a business
17:24 – How Julie built a company quickly
22:47 – Julie’s tips for aspiring entrepreneurs
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 Oct 02, 2023
Monday Oct 02, 2023
The first 72 hours of taking on a new business is always eventful. But a salesperson syphoning leads, and the police called in to stop diggers tearing down buildings at a school must be up there with the hardest first days of any business owner.
This was the reality for my guest in this episode, Adrian Knight. He had a lot of firefighting to perform within his acquisitions that led him to really focus on the back end, something many people don’t do.
He talks about this experience as well as his integration strategies, how having no processes can impact the customer and why even the smallest things can have big financial impacts.
“The police came to stop diggers tearing it down” – Adrian Knight
Timestamps
02:10 - An introduction to Adrian
04:49 - Why Adrian focused on the back office
07:12 - Did Adrian have an integration strategy?
13:24 - Did no processes impact the customer?
16:34 - Small things can cause big financial problems
19:51 - Adrian's acquisition story
22:00 - Adrian's future acquisition plans
Connect With Adrian Knight
LinkedIn - https://www.linkedin.com/in/adrianjohnknight/
Spectacular LinkedIn - https://www.linkedin.com/company/spectaculargroup/
Connect With Julie Wilkinson
LinkedIn - https://www.linkedin.com/in/juliewilkinson-accounting/
Tik Tok – https://www.tiktok.com/@wasolutions
YouTube - https://www.youtube.com/@wilkinsonaccountingsolutions
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 Sep 18, 2023
Monday Sep 18, 2023
Achieving financial freedom is the ambition of many that are building to sell their business. But knowing how to get there is a whole different ball game. Understanding the financial side of how to build and exit a business is key to making this dream a reality.
My guest in this episode is Fiona Hudson-Kelly, who has sold businesses for multi-million pound deals. She has experienced selling through venture capitalists and independently.
Fiona discusses the light bulb moment that happened after she finally understood how the financial side of her business worked. She compares the differences between her venture capital and independent deals as well as the importance of resilience in those looking to build and exit their business.
“I sold my business and never had to worry about money again” – Fiona Hudson-Kelly
Timestamps
02:04 - An introduction to Fiona
05:42 - Venture Capital vs Independent
08:15 - The importance of resilience in exiting
10:26 - The difference between profit and cash
16:15 - The problem with financial information
23:20 - Why people need to invest in financial knowledge
27:58 - Julie's experience with management accounts
32:18 - Fiona's investment tips
Connect With Fiona Hudson-Kelly
LinkedIn - https://www.linkedin.com/in/fionahudsonkelly/
Website - https://www.fionahudsonkelly.co.uk/
X - http://twitter.com/fhudsonkelly
Facebook - https://www.facebook.com/profile.php?id=100070806951159
Connect With Julie Wilkinson
LinkedIn - https://www.linkedin.com/in/juliewilkinson-accounting/
Tik Tok – https://www.tiktok.com/@wasolutions
YouTube - https://www.youtube.com/@wilkinsonaccountingsolutions
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 Sep 04, 2023
Monday Sep 04, 2023
This is a special episode of The Build & Exit podcast where the tables get turned and Julie is in the hot seat. Julie was interview live on NTV to tell her personal and business story.
In this episode Julie gives the personal side of her life story. You’ll find out about her passions from dogs to being out on the open water. She tells all about how the loss of her mother at an early age impacted her life and how her wellness routine has transformed not just how she starts every day but her mindset towards everything.
This is part 1 of the live interview with Victoria Beale on NTV.
*** Join Julie’s Masterclass How To Understand Accounting Lingo on Tuesday 5th September 12pm BST. Get your ticket here - https://shorturl.at/bsQZ5 ***
“Take control of what you want” – Julie Wilkinson
Timestamps
03:13 - The start of Julie's story
04:27 - How the loss of Julie's mum impacted her
06:52 - Julie's experience travelling
08:09 - Julie's career after travelling
12:22 - How Julie met her husband
13:39 - Julie's tell all about her dogs
15:47 - Julie's outdoor hobbies
16:35 - Julie's interests in wellness
20:34 - Julie's transformation due to wellness
21:07 - How this has impacted Julie’s entrepreneurship
Connect With Julie Wilkinson
LinkedIn - https://www.linkedin.com/in/juliewilkinson-accounting/
Tik Tok – https://www.tiktok.com/@wasolutions
YouTube - https://www.youtube.com/@wilkinsonaccountingsolutions
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 Aug 21, 2023
Monday Aug 21, 2023
Distressed business deals can be a quick and high earning way to grow by acquisition. It took Steven Pettigrew 4 days to close a distressed deal and since then has grown a business of 80 people.
In this episode Steven gives his insights into how to grow through distressed acquisition deals, managing seller relationships, and the strategies behind industry deals.
Steven Pettigrew is an entrepreneur with over 13 year’s experience across multiple industries. He has been involved in M&A since 2014 which opened up an exciting new chapter in his career. He also works with a select group of joint venture partners, allowing him to be dynamic in his approach with business owners in order to achieve a win-win scenario for all parties.
*** Join Julie’s Masterclass How To Understand Accounting Lingo on Tuesday 5th September 12pm BST. Get your ticket here - https://shorturl.at/bsQZ5 ***
“If I were to do it again, I would acquire a business rather than start one” - Steven Pettigrew
Timestamps
01:45 - An introduction to Steven
03:18 - How quickly did the business grow to 80 people?
05:55 - What you need to do a distressed business?
07:06 - Was the seller relationship hard?
07:59 - Was the acquisition planned?
10:48 - Is there a strategy to industry deals?
12:48 - Why did Steven start his own business?
18:52 - Can you utilise staff across acquisitions?
Connect with Steven Pettigrew
LinkedIn - https://www.linkedin.com/in/steven-pettigrew/
Opulentia Capital - https://opulentiacapital.com/
Opulentia Capital on LinkedIn - https://www.linkedin.com/company/opulentia-capital/
YouTube - https://www.youtube.com/channel/UCLg_vCxtwB7LV7IgzPtxasw
Instagram - https://www.instagram.com/opulentiacapital/?igshid=OGQ5ZDc2ODk2ZA%3D%3D
Connect With Julie Wilkinson
LinkedIn - https://www.linkedin.com/in/juliewilkinson-accounting/
Tik Tok – https://www.tiktok.com/@wasolutions
YouTube - https://www.youtube.com/@wilkinsonaccountingsolutions
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!
