EO’s Impact: Transforming Gerard’s Business and Life through a Strategic Sale

EO Member Gerard Wood, recently sold his business to Deloitte. See full article here.

Gerard’s journey through the EO (Entrepreneurs’ Organization) network over 9 years culminated in a transformative sale of his business, forever changing his life.

When asked if EO played a role in this monumental achievement, Gerard responded emphatically, “absolutely.” He shared several key insights from EO that fuelled his personal and professional transformation.

Letting Go

Gerard learned the profound impact of letting go to facilitate growth. This crucial lesson came from another EO member who had successfully expanded their business and shared the transformative power of this principle.

Marketing

EO provided Gerard with numerous opportunities to explore the practical side of marketing. One member shared her marketing strategy, illustrating how it had transformed her business over two years. Another member helped Gerard adapt this strategy to his B2B professional services business, guiding him through the nuances and enabling significant growth.

Culture

Gerard discovered the transformative importance of cultivating a deliberate cultural outcome, embracing the adage “culture eats strategy for breakfast.” He learned that developing a strong culture requires actionable steps, which he gleaned from the shared experiences of various EO members.

When Gerard began contemplating an exit, he was inspired by a detailed story from another member who had successfully exited her business. This narrative provided a roadmap, allowing Gerard to follow similar steps and utilise some of the same advisors. Realizing the need for additional actions to prepare his business for an exit, he embarked on a transformative 12-month journey to implement these changes. This preparation was crucial for crafting an Investment Memorandum to present to the market. The entire process, from market presentation to exit, took 9 months—a relatively swift transformation for a business of his size—facilitated by the thorough preparation over the preceding year.

The technical aspects of going to market seemed straightforward in hindsight, especially with an experienced advisor guiding the process. However, the emotional journey of selling a business can be a profound transformation. EO provided Gerard with a support system, allowing him to discuss his experiences with others who had undergone similar journeys. This support helped him prepare for and manage the emotional highs and lows of the process.

Additionally, Gerard participated in two learning events with the EO Brisbane chapter, both focused on business exit or acquisition. These events were invaluable, providing crucial knowledge and connections, such as advisors who could assess the appropriateness of advisory fees. These seemingly minor details were vital for Gerard, marking the transformation of his entrepreneurial path and culminating in the successful sale of his business.