In this article, Peter Chopra from GO provides some valuable tips on how to sell your business.
Peter Chopra talks to "The College of Law" about Great Outcomes and life after qualifying as a barrister
19 February 2008
What memories do you have of The College of Law?
My most abiding memories stem from the camaraderie of my fellow students, especially the great, sometimes riotous, fun we had on dining nights - and I bet some things never change!
How did you get your training contract?
Actually I didn't, but only because I wanted to commence my career in industry. Realising too that I would need flexibility to get involved with roles other than functional ones. I went straight from The College of Law to train as a Chartered Accountant with KPMG that, it seemed to me, would effectively provide a "practical MBA" alongside a further respected qualification. Rightly or wrongly, the number of Big Corporate CEOs who are former accountants vastly outweighs those who are former lawyers.
Which is your greatest achievement since graduation?
My greatest personal achievement is my daughter, Stephanie! But professionally, being "founding father" to the global research conglomerate, Synovate, has to be top of my list. In only five years, I transformed the business from the $137m revenue, two country, 900 staff, and quite frankly, failing business into the $750m revenue, 52 country and 6,000 staff "crown jewel". By drawing on my unusual combination of legal and accounting expertise, I was able to forge a highly successful acquisition strategy and implemented several key initiatives to make Synovate the fastest organically growing market research conglomerate worldwide in 2004, 2005 and 2006.
What is your current employment?
Currently, I'm hard at work building an innovative consultancy company – Great Outcomes – which provides corporate finance support and advice to service sector SMEs concerned with selling or merging their business, making acquisitions and raising venture or development capital. We also undertake special assignments for substantially larger corporations.
Why did you choose the company you work for?
In many ways, Great Outcomes chose me. In less than a decade I have successfully completed a very large number of corporate finance transactions (42 at the last count), ranging from small-scale privately-owned business to listed company deals on every continent and involving all major markets. In the process, I have also led several of these businesses through significant post-acquisition integration programmes – either as their Chief Financial Officer or Chief Executive. This hard-won experience has rewarded me well by providing a potent mix of business skills, a strong reputation for integrity and wide-ranging commercial contacts. As a result, more and more clients began asking for my help to develop or maximise value in their businesses and, clearly, founding Great Outcomes was the next and logical step. I have to say too, that I love it – we've got off to a flying start and from where I stand the sky's the limit!
What is the biggest challenge in your job?
Dealing with personal agendas and inflated egos. Unless kept firmly in check I believe that they are both guaranteed to inhibit great business.
Did your experience at The College of Law have any particular impact on your employment?
Absolutely, yes! The disciplines and methodology you learn from legal training are a wonderful asset in business.
Who is the most influential person in your life?
I have been lucky to work with some really outstanding people during my career. These include Sir Crispin Davies (CEO Reed Elsevier), Douglas Flynn (CEO Rentokil) and Adrian Chedore (CEO Synovate) – and I have shamelessly "borrowed" the best attributes from each of them (and others) in a way that fits me as a person. The person who has had the most influence on me, however, is Colin Day (CFO Reckitt Benckiser) because he made me "think outside the box" that a professional training tends to constrain you by. In particular, he showed me the benefits of grasping the commercial heart of issues first so as to be more visionary and opportunistic rather than automatically conservative, analytical and prescriptive.
Where do you see yourself in ten years' time?
Running my own robust services business - and, importantly, still impatient for and excited by the adventures of each new day.
What advice would you give graduates wanting to rise to the top?
A good lawyer uses all their legal training, experience and knowledge to think as a good lawyer. A great lawyer uses their legal training, experience and knowledge to think as a great business person.
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