Scale Up With Nick Bradley

Joe Durnford On Building The Right Team To Exit Successfully

Aug 30, 2023

Nick welcomes Joseph Durnford, an expert in M&A transactions with over 30 years of experience. They discuss the changing landscape of private equity, the rise of distributed entrepreneurship, and the emotional aspects of selling a business. They emphasize the importance of having realistic expectations and a clear end game when selling a business, as well as the significance of building the right team for a successful exit.

01:06:22

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Episode guests

Joseph Durnford

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Episode notes

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Quick takeaways

The private equity industry has shifted from entrepreneurial focus to financial-driven approach.

Access to debt for private equity deals has become more challenging.

Emotional preparation is crucial for entrepreneurs considering an exit from their business.

Deep dives

Preparing a Business for Sale

To prepare a business for sale, it is important to bring in professionals like an investment banker and an expert in exit strategy, such as Nick Bradley. They can guide the business owner on what buyers are looking for in the marketplace. Additionally, investing in financial preparations is crucial, such as having audited or reviewed financial statements, establishing strong financial controls, and having a CFO or financial team in place. Other areas to focus on include sales and marketing strategies, supply chain management, and managing risk. Conducting a quality of earnings analysis before going to market can provide a competitive advantage, help streamline the process, and even lead to a higher purchase price.

Introduction

2min

Deal Making, Building Value, and Exiting Companies with Joseph Dernford

2min

Exploring the Global and Nomadic Nature of Entrepreneurship and Tax Incentives

3min

Private Equity Landscape Evolution

17min

Entrepreneurship and the Challenges of Transitioning Out of a Business

14min

Building the Right Team and the Role of Ego in Business Exit

2min

Preparing a Business for Sale and Private Equity Transactions

26min

Nick welcomes Joseph Durnford, an expert in M&A transactions with over 30 years of experience. They delve into the world of deal making, building value, and exiting companies. Joseph shares his insights and expertise, drawing from his extensive background in private equity and investment banking. They discuss the changing landscape of private equity over the years, the rise of distributed entrepreneurship, and the importance of understanding the emotional elements involved in selling a business.

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https://highvalueexit.scoreapp.com/

KEY TAKEAWAYS

The private equity industry has evolved over the years, shifting from an entrepreneurial and sales-oriented focus to a more financial-driven and risk-averse approach.
Access to debt for private equity deals has become more challenging, with banks becoming more cautious and requiring higher equity contributions from buyers.
Emotional preparation is crucial for entrepreneurs considering an exit from their business. The transition from being in control of their own company to working in someone else's organisation can be challenging and emotionally taxing.
It is important for entrepreneurs to have a clear end game and realistic expectations when it comes to selling their business. Focusing on the financial goals and objectives can help navigate the emotional aspects of the transaction.
Ego and unrealistic expectations can hinder successful exits. Entrepreneurs should be open to advice and guidance from experienced professionals who can provide a realistic assessment of the value and potential of their business.

BEST MOMENTS

"Warren Buffett's famous for saying you can't get wealthy paying a lot of taxes."

"Money doesn't really want to work. Money wants other people to work."

"You spend all this time creating a great business, a valuable business, defined by its financial performance, but also how you've built the whole machine."

"What you're missing is you're not focusing on what your goal was. Your goal was two to three times revenue."

"Sometimes entrepreneurs, they get focused on the wrong details."

VALUABLE RESOURCES

Joe Durnford - https://www.linkedin.com/in/josephdurnford/

ABOUT THE HOST

Nick Bradley is a renowned entrepreneur, investor, speaker, and business growth expert.
His background is growing and scaling Venture Capital and Private Equity backed businesses globally. Over the last decade, he has completed 117 acquisitions and 25 business exits with a combined valuation of over $5bn dollars.
His mission is to help business founders build valuable businesses and create life-changing exits so they can realise freedom, wealth, and impact.

CONTACT METHOD

Work with Nick: https://highvalueexit.com

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Nick’s Instagram: https://highvalueexit.com/ig

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