Ep.7 - Mike Ames - The dark side of business success and how to avoid it.
Hi and welcome back to the Entrepreneur Transition podcast - the only podcast that explores the uniquely human journey involved in building a business, selling it and crucially, life on the other side.
In 20 years of working with and advising entrepreneurs, I’ve come to realise that it’s a transition more than it is a transaction and there are so many issues and challenges that a business owner will have to navigate to maximise their success from a financial but more importantly from a human and lifestyle viewpoint.
No one epitomises this more than my guest today, Mike Ames.
Mike built a recruitment business to £40m turnover before selling for a life-changing sum of money, before going on to help build another business to £24m turnover and selling that.
However, as he very candidly explains, after he sold his first business and become fabulously wealthy, he went to a dark place - and really struggled with his own identity and purpose.
His advice on this aspect alone is worth every minute of your time listening.
In a wide-ranging conversation Mike also shares his thoughts on:
- The difference between building a lifestyle//cash cow business or a ‘scale for sale’ type of business and why it’s essential to know which one you’re running
- The importance of preparing for life after your exit and your relationship with friends, family as well as with yourself
- Shares some practical insights on how to invest your sale proceeds to ensure the right balance
And towards the end, Mike provides a neat 5-point summary of what it means to have real wealth.
This is one of the most candid and inspiring conversations you will hear in a long time.
Ladies and gentlemen, I give you Mr Mike Ames
Show note links
Mike Ames and Alan Smith ‘ How to Retire Wealthy’
This podcast is produced by GR Media
Sponsored by Capital Asset Management
