Fintech advisor and early stage investor, non executive director, podcaster, husband, father, brother, son and self proclaimed rockstar of financial services.
Brian McDonald from Bay Advisory joins the show for Part 2 of a 2-part series on M&A and raising capital for entrepreneurs and talks through the logic of exit plans, focusing on outcomes rather than actions when taking money off the table, balancing your gut instinct with valuations, the tendencies of different kinds of buyers after the sale…and the potential for doing a deal in the Irish language! This episode of MoneyNeverSleeps is sponsored by PAT Fintech, the training partner that demystifies fintech and digital finance for financial services professionals. Brian is the Managing Director at Bay Advisory, a team of corporate finance specialists who apply their knowledge and expertise to the tech sector, helping these small and medium enterprises sell and fundraise at the best value. In Part 1 on episode 118, Brian talked through his origin story and the Bay Advisory approach, so check out that episode first. HIGHLIGHTS: On the importance of an entrepreneur’s long-term view: “If you’re starting a business and you don’t ever see yourself exiting, and you’re going to hand this business onto your kids, you better make sure your investors are aligned. In other words, if you never want to exit this business, don’t take in money from angels or VCs.” On the impact of an exit plan: “I think that having an exit plan has no bearing on your passion or drive for your business, it’s simply a reasonable precaution.” On what to do when an entrepreneur’s mindset shifts into sell mode: “The very first thing you should do is talk to someone you trust. I don’t want to hear the action; I want to hear the outcome you want as an entrepreneur. It’s not that you want to sell the business, it’s where you want to get to, and then you have options. Always focus on what result you want, and then back-solve from there.” On the importance of recurring revenue to a valuation: “We always dig down into what’s true recurring revenue, particularly in software businesses that may be closer to a consulting business wrapped us as a SaaS business.  We always look for ‘passive’ income, with the perfect example being Microsoft Office, and the other end of the spectrum is Accenture. The question is, are you more like Microsoft or Accenture?” On the entrepreneur focusing on driving the business during the sale process: “The biggest factor in getting that top valuation is that the seller focuses on the business during the process because they need to drive EBITDA. What can destroy a valuation is overestimating the performance at the point of sale, because that gives all of the negotiating leverage to the buyer.” On one of the big challenges with buyers: “What’s really hard for a founder is when there is someone that they really like and really want to sell the business to, but their offer is considerably lower than another party. It’s really difficult for the founder to balance the two offers when they want to continue driving the business after the deal.” You can get in touch with Brian McDonald at brian@bayadvisory.ie Leave a review on Apple Podcasts | Podchaser Check out our MoneyNeverSleeps website Subscribe to our newsletter on Substack Follow us on Twitter Podcast | Twitter Pete | Twitter Eoin --- Support this podcast: https://anchor.fm/moneyneversleeps/support
Brian McDonald from Bay Advisory joins the show for Part 1 of a 2-part series on M&A and raising capital for SMEs and talks through the intersection of experiences that drove him to launch Bay Advisory, market trends impacting early-stage entrepreneurs in Europe, and helping entrepreneurs think about their options in taking money off the table. This episode of MoneyNeverSleeps is sponsored by PAT Fintech, the training partner that demystifies fintech and digital finance for financial services professionals. Brian is the Managing Director at Bay Advisory, a team of corporate finance specialists who apply their knowledge and expertise to the tech sector, helping these small and medium enterprises sell and fundraise at the best value. Continuing along the theme from recent episodes of looking at entrepreneurship downstream from where Eoin and Pete ply their respective trades, we thought it was a good idea to get seed-stage founders and other entrepreneurs in our audience thinking about their options down the road. HIGHLIGHTS On the early days: “One of the best things that happened to me was not joining Big 4 from the start, as I had to learn everything from scratch, and I got a lot of experience with very small businesses where I was just handed a box of receipts.” On his inspiration: “With my experience in consolidating SMEs into bigger firms, I could see a lot of small businesses that were poorly advised from a corporate finance perspective, and at the same time I was personally investing in early-stage technology businesses. I could see that there was a requirement in the market for a specialist corporate finance house prepared to take on much smaller businesses.” On current market trends: “While volumes of venture capital have stayed relatively strong in Europe and elsewhere, that hides the fact that a huge amount of capital is going into Series B and Series C, and seed rounds are really struggling. Angel investors are really pulling back in Europe, and we’re seeing that in Ireland as well. We are potentially not funding very credible businesses and very credible founders who should be funded and would be funded in any other economic environment.” On trying to dig deeper into an entrepreneur’s thinking: “Very often, when an entrepreneur comes to me and says ‘I want to sell the business’, what they really mean is ‘I want to de-risk’. Usually, they think their only option is to sell everything to a PE firm and walk away. Other times, what they really mean is ‘I’m working too hard here and I want to have a family life again’. There are other ways of fixing that that don’t involve selling the business. You can get in touch with Brian McDonald at brian@bayadvisory.ie Leave a review on Apple Podcasts | Podchaser Subscribe on Apple Podcasts | Spotify| Google | Overcast Check out our MoneyNeverSleeps website Subscribe to our newsletter on Substack Follow us on Twitter Podcast| Twitter Pete |Twitter Eoin Get in touch at info@moneyneversleeps.ie --- Support this podcast: https://anchor.fm/moneyneversleeps/support
In this special year-end Money Talks segment, Eoin Fitzgerald and Pete Townsend wax lyrical on big valuations in the 'Fintech Year in Review', Stripe and the next stage of B2B financial services, the long-term economic impact of bitcoin, optimism for the next frontier of money...and of course, the Rundle! This episode of MoneyNeverSleeps is sponsored by PAT Fintech, the training partner that demystifies fintech and digital finance for financial services professionals. Here are the stories that inspired Pete and Eoin’s conversation in this week’s episode, as they said  "see ya" to 2020 and "what's up!" to 2021: Tesla’s market cap tops the 9 largest automakers combined - CNBC - 14-Dec-20 Neobank numbers worldwide approach 300 - Finextra - 22-Dec-20 Visa+Plaid, Pandemic, Wirecard, Bo’s Death - Sifted - 30-Dec-20 Big Ideas Fintech Will Tackle in 2021 - a16z fintech team - Dec-20 WhatsApp to roll out insurance and pension products on its platform in India soon – The Economic Times – 16-Dec-20 Stripe Treasury and embedding banking services via API into businesses’ operational platforms.  - Silicon Republic, 4-Dec-20 Packy McCormick’s reference to the Stratechery podcast and Stripe as the Platform of Platforms – Ben Thompson - 3-Dec-20 Bitcoin Soars Above $23,000 as More Wall Street Firms Pile In – Bloomberg - 17-Dec-20 Bitcoin Braced For Near-Trillion Dollar Stimulus Bill And Fresh Fed Firepower - Forbes - 15-Dec-20 Bitcoin Is More Than a Hedge Against Inflation – It’s a Hedge Against ‘Crazy’ - Crypto Long & Short/Coindesk (Noelle Acheson) - 20-Dec-20 Getting Subscription Bundles [Rundles] Right for Minimum Churn - PYMNTS.com - 22-Dec-20 nw5Zfk3wjZJK8JvGm7mS Leave a review and subscribe on Apple Podcasts | Spotify | Google Check out our MoneyNeverSleeps website and subscribe to our newsletter on Substack Follow us on Twitter Podcast |Twitter Pete |Twitter Eoin Get in touch at info@moneyneversleeps.ie --- Support this podcast: https://anchor.fm/moneyneversleeps/support
Brian McNulty, founder and CEO of FundAdminChain (FAC), joins the show to talk about solving a real business problem with distributed ledger technology (DLT), how funding your business takes a team effort, enabling positive change for the investment funds industry and end investors…and his secret life as a qualified football coach! This episode of MoneyNeverSleeps is sponsored by PAT Fintech, the training partner that demystifies fintech and digital finance for financial services professionals. EPISODE OVERVIEW: FAC is a network for launching, distributing and trading digital investment funds, connecting investors, fund managers, and their service providers in a distributed digital ecosystem. Brian just completed the first half of raising FAC’s seed round, and although the fundraising round will stay open until February, Pete Townsend wanted to crystallize this moment in time by capturing it in this episode. For the sake of transparency, Pete is also an advisor to Brian and FAC. HIGHLIGHTS: On the core proposition: “We're facilitating the more forward-thinking incumbents to digitalize what they do, improve their services and pass those benefits on to their customers and the end investors.” On one of the influences for founding FAC: “At R3, we were bringing the buyside into the office, and looking at how the funds industry is still quite antiquated and extremely busy with many layers and intermediaries, but all doing an important job in the current state and all playing necessary roles.” On the opportunity: “With DLT, we could see the opportunity to collapse those layers, and if everyone shared the same data, then we don't need all the reconciliations and oversight teams. This means we can drive out some of the costs, risks and data lags.” On the reason for a comprehensive approach: “We know this takes a blend of business, technical and regulatory considerations not only to ensure that it's a real business problem we’re solving, but also that the business model itself stacks up.” On the context of collaboration: “You’ve got to make sure that you are listening to what the individuals and organizations want and that it’s the right time for them. There may be a time when you need to pull back on the collaboration, and other times you’ll want to push for it.” On raising capital: “Everyone tells you how much work it is and how it's another job and you hear those words, but you don't really know what it's like until you're close to closing.” On the guiding forces: “We want to improve the industry – this is not a gimmicky thing - and we want to see that improvement passed on to the end investor and revolutionize the way that the funds industry operates.” On the team effort: “Fundamentally, it's been a phenomenal journey so far with FAC as a result of the phenomenal team we've got and also some great organizations we're working with, so I’m looking forward to the next phase.” Leave a review and subscribe on Apple Podcasts | Spotify | Google Check out our MoneyNeverSleeps website and subscribe to our newsletter on Substack Follow us on Twitter Podcast |Twitter Pete |Twitter Eoin --- Support this podcast: https://anchor.fm/moneyneversleeps/support
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Creator Details

Location
Dublin, Leinster, Ireland
Episode Count
129
Podcast Count
5
Total Airtime
3 days, 9 hours
PCID
Podchaser Creator ID logo 806442