Beyond 8 Figures
Beyond 8 Figures
Sep 10, 2018
£11.2M Exit- Jonny Cooper, Money Desk
Play • 55 min

Jonny Cooper is a British entrepreneur, piano player, international racing driver, and business coach. He’s the founder of JonnyHatesMarketing.com, where he helps coaches, trainers, and therapists find more of their ideal clients more efficiently.

What businesses does Jonny run, their current revenue, and what were some of his previous exits? (1:27)

  • Jonny exited a business about ten years ago. They had just cleared £10 Million in the last year and walked away with about £1 Million. 
  • Jonny’s current business is in the growth stage, and he is enjoying it. He is working on the company because he wants to instead of because he needs to. 
  • The business has just hit the mid-six-figure revenue mark and is working its way up to a 7 figure mark. 
  • The exit ten years ago was Jonny’s most significant sale outcome. 
  • When a business moves into the 7th Figure net profit, it puts your business into a whole different multiple in its value. 
  • His former business was within the financial service sector. They were advising people on pension strategies and investments.

What was the original idea for Jonny’s business, and where did he find the opportunity? (4:08)

  • At the time, Jonny was working as an insurance salesman.
  • He was a bit bored working for the man in an insurance company, and he thought he could better himself. 
  • The UK has a concept called an independent financial advisor, which is a broker in the U.S.
  • Jonny saw an opportunity and started his own business with another guy from the original insurance company.
  • Putting heads together was an excellent way to start a business because the more perspectives are involved, the more ideas can come into the business. 
  • Jonny considers their superpower at that time to have been their combined understanding of the market and how to create leads to their business. 
  • These days most insurance salespeople are bumping around on the bottom, finding it very difficult to find clients. 
  • Jonny felt like he and his partner cracked the code at the time, and when they did not, there was a completely separate division to their business that was solely devoted to marketing. 
  • They got so good at what they were doing that they started marketing for some of their competitors as well. 
  • So the catalyst for growing the business was that they could create leads and thereby attract salespeople to go and work for them.

What were some problems that Jonny ran in to and how did he overcome them? (14:33)

  • Jonny says they were hopeless when it came to human resources. 
  • They had no idea how to manage a workforce of people, and they were continually bewildered at some of the things that would happen. 
  • So they had to build an HR department from scratch. 
  • That obstacle felt like a complete blackhole to both of them. They never went into the office and left HR to do what they did. 
  • It turned into a complete blackout. They winged it to about 20 employees and at least during that time managed to get to the £1 Million turnover. 
  • The thing about putting someone else in charge made them realize that they weren’t good at it, and they didn’t want to do it either. 
  • This is something that Jonny sees within business owners because they force themselves to do things that they aren’t very good at just because they feel like they have to. 
  • One of Jonny’s core teachings is that you should only ever do what you love to do, and if you’re not enjoying it, get someone else who does want to do it. 

Jonny Hates Marketing

Jonny Hates Marketing is a coaching platform on which professional coaches, therapists, trainers, or consultants can find information, tips, and genuine advice on how to build, manage, and scale their businesses.

Resources

Connect with Jonny: LinkedIn

Jonny Hates Marketing: Website

See omnystudio.com/listener for privacy information.

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