Are you one of these?
These are significant, fairly successful businesses in their own right. Here the owners are worried about managing risk, or about getting more time back, or they’re dreaming of how much more successful they could be. It’s not difficult to double a business that is set up right and ‘in flow’. Yes, you heard that right!
James runs a B2B marketing and PR agency. He employs 2 salespeople but brings in most of the sales himself and has a turnover of around £500k per annum with some full-time staff and a large temp database who get involved in project work. His company has high levels of customer satisfaction and he believes he could double his revenue by bringing in a partner to develop a practice around paid ads.
Thabile owns a recruitment agency specialising in providing bank staff in the healthcare and caring professions. She has been very busy throughout the Covid-19 lockdown periods and wants to keep the momentum going. She knows that with some support she can put an emphasis on building systems and infrastructure to pitch for and win bigger bids and to also win more business in more counties in the UK. Her current revenue is just over £1m and she would like to see how close she could get to £2m.
This is ‘the murky middle’. Yasmin and Dimitri both have a business and can talk about it at a dinner party, or to HMRC but honestly, it's most likely not all great and they want it to be better.
‘It’s not Gershwin, but it’s moving.” said Joel Maisel (in The Marvelous Mrs. Maisel S2E2).
So you put in a concerted effort to grow, or to re-launch.
Yasmin runs a cross-cultural consultancy for small-to-medium businesses in the UK who want to enter asian markets. She is busy but feels she could be earning more and working less. She wants to look at ways to develop more business with her current clients and is thinking of add-on services.
Dimitri runs a large scaffolding rental business. Most of his stock is no longer used as the business suffered after Dimitri had twins. He also has another business letting holiday property which his family owns. He wants to sell the scaffolding rental business in 2-4 years time and he knows it needs a lot of work to get the best price.
You may currently be in a job and be thinking of starting a business in the same field. You have certain inside information and knowledge and can put it to good use to provide something incredible and at a price point which could give you a lot more options in your life. Or you have been in jobs (some of them great jobs) but you've always had an interest in something else, or perhaps you've been growing this other interest over a period of time and its in a new field.
John works as a full stack developer and wants to leave his job to start a business offering programming resources and solutions to a variety of customers.
Sarah works as a project manager and enjoys her job but she's absolutely crazy about citrus fruit. She wants to start a business selling unusual citrus fruit like bergamot, pomelos and ugli fruit.