In the final episode of this season of No More Practice, Sam and Jim both had a chance to have a deep and meaningful with Barry and Robbie, together. This joint mentoring session was designed to report back the learning’s from all the experts they had been assigned and to check in with their progress.
What did Sam learn?
It was interesting to see that Sam had realised there was a layer of compliance complexity in franchising that he had not really explored before his No More Practice journey. Sam has built a very successful business by being able to control all his risks with meticulous planning and hard work. He realised after his expert meetings that the franchise model would mean him losing that control and allowing risk to creep in.
Barry assured Sam that the risk would be taken on by the new franchisees and that he should not give up the idea of franchising his business model, particularly due to his growing media profile and the ability to drive leads from that on a big scale.
It will be interesting to see what Sam decides to do with his business by Judgement Day, which you will get to see later on in the year. Both Barry and Robbie agreed that Sam was an excellent operator and that he was sure to be a strong contender on Judgement Day – whichever strategy he reveals.
What did Jim learn?
When Jim had his turn he really focussed on what parts of the journey he had learned from that he had not expected. Robbie had been concerned that Jim would lose his staff, and that this may decrease his earn out potential. Jim assured Robbie that he had put even more focus on the staff component of the sale and was more mindful of what could happen if not nurtured correctly.
Jim was really pleased to announce that he had made some plans for the next phase of his life – and both Barry and Robbie were very happy to hear that Jim had new opportunities on this horizon – both of them knowing how important it was for a business owner to have a new focus after sale.
The mentors were really impressed with Jim’s progress and both agreed that Judgement Day was sure to be a good one for Jim.
With Sam well on the way to accelerated growth and Jim moving closer to earn out time, Judgement Day will be worth waiting for.
Thanks for joining us on the journey so far. There’s lots more to come as No More Practice continues to seek out the best ideas to help you realise your practice potential.
