Exiting the Business: The Grown-Up Entrepreneur’s Journey with Simon Morton

Grown UP Business

In this episode of the Grown Up Business Podcast, host Paul Avins sits down with Simon Morton, founder of Eyeful Presentations, to discuss the emotional and strategic journey of exiting a business. After building a multimillion-pound company from scratch, Simon shares the pivotal moment when he decided to transition from owner to benefactor by selling his company through an Employee Ownership Trust (EOT).

The conversation delves deep into the complexities of letting go, preparing the right leadership team, and leaving a lasting legacy. Simon offers invaluable insights for entrepreneurs who are contemplating their own exit strategies, including why he chose an EOT over traditional exit options like a trade sale. For business owners considering their future, this episode is full of practical advice and reflections on the personal side of stepping away from a company you’ve nurtured for years.

Key Discussion Points:

• From Founder to Benefactor: Simon discusses his decision to sell his business through an EOT, enabling his team to take ownership while ensuring the legacy and culture of Eyeful Presentations would continue.
• The Emotional Toll of Exiting: Learn how Simon managed the personal and emotional aspects of leaving the business he built over 18 years, and why it was important to time his exit correctly.
• Building a Legacy: Simon shares how his focus on team building and leadership development allowed him to confidently hand over the reins, ensuring that the company would continue to grow after his departure.
• Choosing the Right Exit Strategy: Hear why Simon rejected the idea of a trade sale and how the EOT structure aligned with his values of fairness, legacy, and future growth.

Quotes:

Paul Avins:

1. “I think one of the biggest questions for entrepreneurs is: ‘When do you know it’s time to step away, and how do you ensure the business thrives without you?’”
2. “The legacy you’ve built with your team is incredible. It’s not just about growing a business but growing the people within it.”

Simon Morton:

1. “The hardest part wasn’t making the decision to sell, it was realising that my chapter in the company was over and being at peace with it.”
2. “Employee Ownership Trusts aren’t just a financial transaction; they’re about giving the business back to the people who made it what it is.”

To learn more about Simon Morton's book, The Guide to Transitioning from Boss to Benefactor, and discover whether an Employee Ownership Trust (EOT) is the right exit strategy for your business, follow Simon on LinkedIn for updates and insights.

Connect with Us:

• Paul Avins: @PaulAvins
• Simon Morton: @SimonMorton

Simon's new book is out: https://amzn.eu/d/6Zwqo9T