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Episode Overview

Rachel Murphy sold her company during lockdown. While building the national COVID-19 digital service. Without ever meeting the buyers in person.

This conversation is equal parts masterclass and madness - covering everything from selling timeshare at 13, to negotiating 50% equity in a struggling business, to achieving an eight-figure exit in under three years, to why every founder her acquirer bought has since left.

Rachel now runs The Grafter, helping entrepreneurs navigate exits with the playbook and emotional support that didn't exist when she needed it.

Guest Bio

Rachel Murphy is a multi-exited entrepreneur and founder of The Grafter, a business that helps entrepreneurs build, scale, and exit their companies. After building and selling her first company in her 20s, she spent 10-15 years as a high-level interim executive (CIO for Department of Education, leading NHS.UK digital transformation and launching the NHS app).

In 2015, she negotiated 50% equity in consultancy Difference and sold it for eight figures in 2020 - during lockdown, while simultaneously building the national COVID-19 digital solution.

She now leads a community of 200+ entrepreneurs and has helped facilitate 5 exits, 12 revenue doublings, and a £44M non-dilutive raise in just 38 months.

Key Takeaways

1. Build Your Exit Strategy Before You Need It

Rachel had a complete sell pack ready 18 months into the business. When unsolicited buyers called, she didn't scramble - she sent comprehensive documentation immediately, putting her in a position of strength.

Action: Start documenting your strategy, financials, and exit roadmap now - even if exit is years away.

2. Creative Deals Beat Starting From Scratch

Instead of building from zero, Rachel negotiated 50% equity in an existing struggling business by bringing her expertise, network, and turnaround strategy. One plus one equalled ten.

Action: Look for businesses adjacent to your skillset that need what you have. Equity partnerships can accelerate your journey.

3. Use Objective Frameworks for Emotional Decisions

Rachel used Wardley mapping to objectively assess three acquisition offers. The result: she chose the best fit for her team, not the highest bidder or her personal preference.

Action: Remove emotion from major decisions with frameworks. Work backwards from outcomes. Be brutally objective.

Links:

https://www.linkedin.com/in/rachthegrafter/?originalSubdomain=uk

The Grafter

The 5 Types of Wealth: The life-changing international bestseller, a guide to building a happier, healthier, wealthier life

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The Autumn Budget landed last week - and while the headlines were busy talking about ‘black holes,’ and ‘fairness,’ the fine print tells a very different story.

Nimesh Shah, The CEO of leading tax advisers, Blick Rothenberg didn’t mince words calling it “the most damaging Budget in living memory”

If you own a business, if you’re scaling your company, or if you’re even thinking about an exit in the next few years, this Budget will affect your future wealth more than you realise.

And most founders have absolutely no idea.

So I’ve brought back one of the sharpest tax brains in the country - Malli Kini - to unpack the traps, the opportunities, and the moves you need to make right now to stay ahead.

We’re talking;

• The stealth tax hikes nobody’s mentioning

• The dividend and pension changes that hit founders hardest

• The EOT crackdown and what it means for succession

And so many other issues that didn't make the headlines.

This is one of those episodes where a single insight could save you six figures - or more - over the next few years.

If you’re a business owner, buckle up.

If you’re planning an exit, take notes.

And if you care about keeping more of what you’ve built… this one’s for you.

Let’s get into it.

Ladies and gentlemen, Malli Kini

This podcast is produced by GR Media
Sponsored by Capital Asset Management

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What if your business isn’t worth what you think it is?

What if it’s less than you think? What is it’s more?

Here’s the uncomfortable truth: most owner-managed businesses never sell.

Not because the founders are lazy or stupid…But because the business just isn’t sellable in the eyes of a buyer.

So Today, we’re fixing that.

I’m joined by Graham Stephen, CEO and co-founder of a company called Bizval.

His team helps entrepreneurs get a proper, defensible valuation.
without a £50,000 big accounting firm invoice - or 80 pages of jargon! - and then they break down the key steps you can take to improve your exit valuation.

So this episode is a bit different.

During our conversation, Graham screenshares a live valuation of a very typical business:

It’s a £10m revenue marketing agency, decent profits, happy owners.

On the surface, it all looks great.

But under the hood?

There are a few issues that are keeping the valuation down in the eyes of a potential buyer.

He then plugs in the key numbers and data…

And you’ll hear how that business comes out at a valuation of around £3.7m today.

Then we apply some smart strategic moves and pull a few specific levers – nothing crazy and all highly achievable as part of a focused strategic exit plan.

And suddenly the model shows a path from a £3.7m valuation to over £10m.

• Same business.
• Same owners.
• Very different outcome.

And one other thing, Graham has kindly agreed to offer a very useful discount to the standard cost of your evaluation and strategic plan.

There’s a link to the discount code below.

So, if you’re an entrepreneur and your business is your pension, your exit, your family’s future – this episode will make you think very differently about your business value and how to optimise it.

Let’s face it, you’re probably only going to sell once - and it’s likely to be the most significant financial transaction of your life.

And so this next hour or so could make all the difference to you when that time comes.

Let’s get into it.

https://bizvalglobal.com/

https://www.linkedin.com/in/graham-stephen?utm_source=share&utm_campaign=share_via&utm_content=profile&utm_medium=ios_app

https://bizvalglobal.com/pricing/ - code Bulletproof

This podcast is produced by GR Media
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Today on The Bulletproof Entrepreneur, you’re going to hear from a man whose story is almost impossible to compress into a single sentence - because it’s part grit, part luck, part audacity… and entirely remarkable.

Sir Tom Hunter grew up in the small Scottish mining village of New Cumnock, where his father ran the local grocery shop. It was there - stacking shelves, serving neighbours, and learning the value of every pound - that Tom absorbed the lessons that shaped everything that came next: look after your customers, keep your word, and work harder than anyone expects.

From those beginnings, he went on to build one of the most successful retail empires the UK has ever seen. The story isn’t neat. It’s not linear. It’s full of missteps, brass-neck decisions, fake-it-till-you-make-it moments, and an unshakeable belief that the best way to learn is to do.

You’ll hear how he started by selling trainers from the back of a van… how he leveraged luck by simply showing up… how a chance encounter led to selling more shell suits than anyone in Europe… and how an almost absurd coin toss sealed a £296 million deal.

But you’ll also hear the parts of the journey most people never talk about. The weight of shutting shops. The backlash after the sale. The pressure of the financial crisis. Losing hundreds of millions. And the resilience required to rebuild from the inside out.

It’s rare to sit with someone who has not only succeeded at the level Tom has but is also willing to speak honestly about the parts that don’t make the headlines.

And today, he goes further - sharing the philosophies that now guide his work through West Coast Capital and The Hunter Foundation… why he believes entrepreneurs are the engine of the UK economy… what government consistently gets wrong… and the one piece of advice Warren Buffett gave him that changed the way he thinks about family, money, and legacy.

It’s a conversation about risk, resilience, humility, generosity, and what true wealth really means.

So settle in. This one is special.

Links:

https://www.thehunterfoundation.co.uk/

https://www.westcoastcapital.co.uk/

Shareholder Letters

The Psychology of Money: Timeless lessons on wealth, greed, and happiness: Amazon.co.uk

Barbarians At The Gate: The Fall of RJR Nabisco: Amazon.co.uk

This podcast is produced by GR Media
Sponsored by Capital Asset Management

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Today on The Bulletproof Entrepreneur, I’m joined by Brian Hill — ex-soldier, endurance athlete, entrepreneur, and the founder of a business called Pathfinders.

Brian’s also just published a fantastic new book called Everyone Exits, which is a step-by-step blueprint for business owners who are scaling towards a successful sale.

I read it before we recorded this conversation and I took a lot from It - and I strongly recommend you put it on your own reading list!

During our conversation, we unpack how smart founders scale using Brian’s eliminate, automate, delegate rule — and why true delegation, not heroics, creates profit and freedom.

Brian also exposes the biggest mistakes owners make when selling - from buy-side brokers and exclusivity traps - to why you must create competitive tension to protect your price and business valuation.

And finally, he shares his Exit-Ready Stay-Ready framework that every business owner should start building right now - with clean data, profitable clients, and reduced risk - because, as his book says, Everyone Exits.

If a business sale’s even remotely on your horizon, this episode could change your outcome. Let’s dive in.

Ladies and gentlemen, I give you Mr Brian Hill.

Links:

https://www.linkedin.com/in/brian-hill-pathfinders/

PathFinders

EVERYONE EXITS: You’re either bought out, pushed out, or wheeled out : MSc MCSI, Brian Hill

The Next Conversation: Argue Less, Talk More. The Sunday Times bestseller, as heard on the Diary of a CEO podcast

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My guest today is someone whose story is nothing short of remarkable.

From a tough upbringing on a council estate in Oxford to building one of the UK’s most disruptive property management companies - and ultimately achieving an eight-figure exit before the age of 40 - Andrew Hulbert’s journey is one of grit, growth, and gratitude.

• His story begins with a choice he made as a 16-year-old that changed the course of his life and is a powerful story - a real Sliding Doors moment.
• Later, his decision to walk away from a secure career and risk everything to start a business, all alone with a laptop and a relentless work ethic, is truly inspirational.
• And then his plan to seek an exit and create financial security for his family provides deep insight for anyone currently growing a business and considering when is the right time to step down and sell the company.

Today, Andrew lives on a farm, is planting a forest, and spends most of his time with his wife and young children - although he still maintains a healthy interest in business; after all, he’s only 39!

During our conversation, we discussed how he built his company, what he learned along the way, and what true wealth means after the exit.

Ladies and gentlemen, I give you Mr Andrew Hulbert.

Andrew's LinkedIn:

https://www.linkedin.com/in/andrewhulbert/

This podcast is produced by GR Media
Sponsored by Capital Asset Management

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Welcome back to the Bulletproof Entrepreneur podcast - reverse engineering your successful business scale, sale and life on the other side.

What I’ve learned over the years is that not every founder wants to sell up and exit their business completely - some prefer to take some ‘chips off the table’ and go again to make the most of the opportunities they see.

That's where today’s guest comes in.

Matt Taylor is the founder and co-owner of Rockpool, a different kind of business partner for ambitious owners of SMEs - perhaps a more collaborative version of traditional private equity.

• During our conversation, he breaks down the secrets to unlocking the real value in your business through recruiting specific people and improving key processes.
• Matt explained the support and resources his company offers to founders and entrepreneurs, helping them achieve their full potential.
• We also talk about incentives, employee ownership, and why trust, not regulation, is the real engine of productivity.

As a seasoned operator in the UK SME market, he’s also got some excellent advice for Rachel Reeves ahead of the next budget - well worth listening to what he’d like to tell her!

This is a great conversation with a ton of valuable advice if you’re scaling towards a successful exit but not ready to retire and sit on a beach quite yet.

So, ladies and gentlemen, I give you Mr Matt Taylor.

Links:

https://rockpool.uk.com/

Voluntary Exchange: The Simple Truth of Economics: Amazon.co.uk

This podcast is produced by GR Media
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What does it take to risk everything — your home, your family’s security, and even walk away from a million-pound payday — in pursuit of something bigger?

In this episode of The Bulletproof Entrepreneur, Phil shares the raw truth behind decades of building, selling, and reinventing businesses. From sleeping on an office couch to securing one of the UK’s biggest fintech exits, his journey is a masterclass in risk, resilience, and relentless drive.

We also get into the tough questions:

• Why most startups never make it — and what separates those that do.
• How policy decisions can shape the future of entrepreneurship in Britain.
• The one skill that underpins every business success.

This isn’t a story of overnight wins. It’s a story of calculated gambles, painful setbacks, and bold moves that paid off in ways few would dare imagine.

Resources:

• Shoe Dog by Phil Knight (founder of Nike)
• Play Nice But Win by Michael Dell
• Phil's LinkedIn

This podcast is produced by GR Media
Sponsored by Capital Asset Management