Transworld Business Advisors were approached by a seller keen to focus his attentions on a…
Change is inevitable. But there are ways you can take control of change, as Ken Gorman, co-owner of Transworld Business Advisors of London South West demonstrates.
Have you ever reached a point in your career when you knew something needed to change, but you weren’t sure what? Or maybe you’ve advised others about their own career advancements? As a Transworld Business Advisor, every day we are sought out for our expertise by clients looking for the crucial answer to the million dollar question of knowing when it’s time to make a change.
For Ken Gorman, co-owner of Transworld Business Advisors of London South West, being in a position to help people reach their next life goal, is a big drive. “When people reach retirement,” he says, “it’s a personal decision. I’ve had clients ask when the right time for them to retire should be. But, this is a question they have to answer themselves. There isn’t a mathematical answer, when the business has achieved X,Y, or Z… You just know.”
Helping others feel in control
When he was approached by the owner of a profitable electrical company who was asking this same question, Ken helped him understand the value of the business he’d built-up over 40 years. The client could then make an informed decision, confident it was the right time to exit his business, and turned to Ken to guide him. “When someone decides to retire, it’s my job to support them through the sale of their business, so they can attain their next goal. This client was actually referred by someone I’d previously run transactions for, who was incredibly happy with our results. He needed someone he could trust, so because he’d received assurances we’d pull out all the stops on his behalf, he was confident we would close the deal to his satisfaction.”
Ken and his team spent time understanding the business, so they could package the deal for market, in the strongest way. “As a Transworld Business Advisor, I’ve had experience in doing various high street deals. When I first started my Transworld office, I was keen to ensure I gained the knowledge and expertise which would put future clients’ minds at ease. Each deal helps with the next, and I really love sinking my teeth into these bigger deals.”
Confidently showing clients the potential of change
Ken had a buyer in mind, a private equity firm who’d spoken to him about a previous opportunity. He knew, from the relationship he’d established with them, and the insight he’d gained about the business, they would be an ideal fit. “I presented the deal to the firm, and helped them to see the future prospects of this business. I knew from previous conversations they were keen to grow their acquisitions, exponentially. They easily saw, from the package we had drawn-up, this was a solid business, in a growing sector, with all the right pieces in place for their desired growth.”
As a Business Advisor, Ken is adept at managing his projects and helping clients achieve a successful conclusion. “Managing a deal of this size, is about managing a large project, with many parties becoming involved in the process. It’s important I can keep the deal moving forward, and to make sure all parties – whether in accounts, or legal – can access the relevant data when they need it. We take the pressure off our clients, allowing them to focus on running their business, right up to the close of their final day – after all, this is where their passion lies. My passion lies in ensuring the deal is closed and my clients are happy with the outcome.”
Taking control of your own future
Being part of the Transworld Business Advisors, Ken regularly receives training from the Franchise Support Team. But, as a man of vision and drive, Ken understands change is inevitable; taking control of some aspects of change, puts him in a stronger position. “Running my own Transworld office, means I can choose my hours of work around clients, and invest time back into my business and personal growth. With the support of my franchisor, I’ve gained certificates in Business Valuations and M&A. This enables me to work with clients in superior markets, who feel confident in me, knowing I speak their language. I’m determined to take control of everything I can, to make my office as successful as it can become.”
Are you ready to take control of inevitable change?
As Ken says, “Starting my own Transworld franchise is the perfect second career for me.” Call Henry Ziff today on 0203 911 1059, or email [email protected] to start the change process for yourself.