The Exit Plan: Mergers and Acquisitions for Creative Entrepreneurs

Nikki Wheeldon, a versatile entrepreneur with a background in acting, shared her journey from a struggling actor to the founder of Jam Pot, a flourishing business providing freelance operational support. Initially managed solely by Nikki and her...

Show Notes

Nikki Wheeldon, a versatile entrepreneur with a background in acting, shared her journey from a struggling actor to the founder of Jam Pot, a flourishing business providing freelance operational support. Initially managed solely by Nikki and her husband, Jam Pot's unique business model, devoid of retainers, offered flexible operational services across admin, HR, finance, and more. The company expanded, boasting a team of 40 and serving 40-50 clients monthly.

The sale decision emerged when Nikki discovered Foundy, a platform facilitating anonymous business listings. Foundy garnered significant interest despite initial skepticism, leading to conversations with potential buyers. The sale posed challenges, forcing Nikki to consider deal structures, terms, and the post-sale impact on her life. Eventually, a buyer aligning with her conditions emerged on Foundy, resulting in Jam Pot's successful sale.

Nikki's journey underscores adaptability, resilience, and strategic decision-making in entrepreneurship. In the continuation, Nikki delves into the sale process, emphasizing the importance of understanding one's objectives and setting clear boundaries. The negotiation intricacies, buyer details, and the one-month collaborative handover period are discussed. Nikki shares her plans, considering temporary employment elsewhere and exploring her interest in speaker coaching. She offers valuable advice for aspiring entrepreneurs, highlighting the significance of early preparation and business decisions that enhance appeal to potential buyers.

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Creators and Guests

Host
Barnaby Cook

What is The Exit Plan: Mergers and Acquisitions for Creative Entrepreneurs?

The Exit Plan is for business owners that are interested in learning more about how to sell their business. Each episode Barnaby Cook interviews someone who has bought or sold a business - either a creative agency, or a production company. The conversation gets under the skin of why they wanted to sell, or were looking to acquire, how the deal was structured, how they agreed upon a valuation and what lessons they learnt along the way.