🎙 Dr. Steve Day interviews Julie Wilkinson, an expert in mergers and acquisitions. Julie shares her background as a chartered management accountant and explains how she started her own company, Wilkinson Accounting Solutions.
They discuss the importance of implementing corporate structure and governance in small businesses, as well as the benefits of planning for an exit strategy from the start.
Julie emphasises the need for systems, processes, controls, and a strong management team to support business growth and prepare for a successful exit. She also provides insights on financing acquisitions and leveraging existing business resources.
KEY TAKEAWAYS
💡 Julie Wilkinson has expertise in mergers and acquisitions and is a keynote speaker.
💡 It is important for small business owners to consider mergers and acquisitions as a means of growing their company.
💡 Planning for an exit strategy should be done from the start of a business.
💡 Building processes, systems, and controls are essential for business growth and success.
💡 It is vital to have accurate financial reporting and analysis to make informed decisions and attract potential buyers.
BEST MOMENTS
04:53 - 💬 “I believe everybody should have an exit plan. And I think people should be thinking of their exit plan from the moment they start their business.” - Julie Wilkinson
27:26 - 💬 “I don't think the end goal should change. You know, if you know in your heart, I want to deliver this type of service, don't fluctuate from that overall goal.” - Julie Wilkinson
30:28 - 💬 “I think, why do people want to put that on their shoulders? You know, if they just think about these things early doors, have a bit of a plan, it will just become easier for you later down the line.” - Julie Wilkinson
36:21- 💬 “Systemising it doesn't itself, I don't think, make the success. What makes the success is the process around that system.” - Julie Wilkinson
36:49 - 💬 “If you're not truly understanding your accounts, you're not really in a good position to move forward because you don't know exactly if everything's reconciled and fully up to date.” - Julie Wilkinson
TIMESTAMPED OVERVIEW
00:00 Experienced accountant starts company to help SMEs.
03:33 Starting a business organically vs. through acquisition.
08:48 Get funding, utilise cash flow, and manage stress.
10:22 People are used to bigger debts than they thought.
15:50 Early implementation of processes prevents growing problems.
16:37 Plan scalable processes and systems before rapid growth.
20:56 Control processes are essential for financial oversight.
25:52 Flexibility is essential. Set goals and maintain vision.
27:13 Focus on goals and track key performance indicators.
30:13 Plan early, reduce stress and bring in support.
34:12 Transitioning from job to business for time.
36:01 Incorrect bookkeeping leads to financial risk.
GUEST RESOURCES
Website: https://wilkinsonaccountingsolutions.co.uk/
LinkedIn: https://www.linkedin.com/in/juliewilkinson-accounting/
Build and Exit Podcast: https://podcasts.apple.com/gb/podcast/build-and-exit/id1676606866
VALUABLE RESOURCES
Website: www.SystemizeYourSuccess.com
Facebook Group: Facebook.com/groups/systemsandoutsourcing/
LinkedIn: LinkedIn.com/company/systemsandoutsourcing/
Instagram: Instagram.com/systems_and_outsourcing/
YouTube: YouTube.com/@drsteveday42
ABOUT THE GUEST
Julie is a highly acclaimed keynote speaker and mentor who focuses on mergers and acquisitions. Her podcast channel ‘The Build and Exit’ has been hugely popular, with
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