I once worked in a petrol station where the customers with the nicest cars all seemed to work in an accounting practice, so it steered me down that road. After I qualified with ACCA, I got a place on a graduate scheme in industry. There followed a role in a start-up with a contract to serve food to the Ministry of Defence around the world, which involved building a business with 300 people across three sites. It was hard work but a great experience.
I then moved on to an even bigger start-up, which grew from nothing to 600 people very quickly, after winning a contract from Ford Motor Company. But it was when I was being interviewed for another job that I realised I wanted to do what the finance director interviewing me was doing. Two years later, I set up my own firm and I’ve spent the past 15 years working for a portfolio of owner-managed businesses as a virtual CFO. It’s a style of working that really suits me.
I’ve done what many of my clients want to do: grow a profitable business and then sell it
My clients are mainly 10–100-employee businesses, often growing quickly. I’ve had equity stakes in two of them, both of which we boot-strapped from nothing to around 40 people and then exited in trade sales. This has allowed me to stand out from the crowd, as I’ve done what many of my clients want to do: grow a profitable business and then sell it.
I work with architects, marketing agencies, IT consultants, designers and recruitment consultants. They need talented people to deliver their service and they’ve got a niche or some sort of intellectual property; their biggest costs are always people, followed by office space.
The average small business owner has had very little formal business training
First, I’ll look at which business activities are profitable and which aren’t – things they could not see themselves because the analysis wasn’t being done. My focus is on looking forward to the next few months and years, and I always work in partnership with others. The average small business owner has had very little formal business training, so I’m often able to make a big difference in a small firm with my financial perspective.
It’s satisfying to see a recommendation I’ve made actioned almost immediately
Helping someone to successfully exit their business is a fantastic feeling. I also enjoy telling or showing clients something insightful that they didn’t know. We can talk about an issue I’ve identified; I might already have the solution from a previous client that I’ve helped. Often these can lead to quite a change in the business. Unlike big corporates, small businesses can implement changes very quickly, so it’s satisfying to see a recommendation I’ve made actioned almost immediately.
My weekends often involve walking the dogs to a coffee shop with my wife. I’m a fan of Formula 1 and went to my first race this year, at the Dutch Grand Prix. I enjoy watching sport generally; my son and I go to a lot of cricket matches and football matches. My daughter and I go to the tennis every year. I also take my kids to gigs by the big acts of the 1980s. I played 1980s music in the car when they were growing up and they seem to know all the words! I also find that my most creative ideas come to mind during these periods when I’m supposedly switched off.
