From One Business to a Group Model: Andrew Gilmour on Scaling Through Acquisitions | Episode 61

The £35 Million Business That Collapsed: Stephen Pettigrew on the Exit Lessons Most Owners Learn Too Late | Episode 62

Stephen Pettigrew grew up around business long before he ever built his own path. From working in his family’s warehouse as a teenager to watching his parents’ business grow to £35 million in revenue before eventually collapsing, Stephen learned a hard lesson about value, timing and why a business should be built with the option to sell. In this episode of Success or Excuses, James Fleming sits down with Stephen Pettigrew to explore the reality of building, scaling and exiting a business. Stephen shares how his family business shaped his thinking, why he moved into mergers, acquisitions and private equity, and how he now supports founder-led businesses to grow, systemise and become more valuable. Stephen also explains what makes a business attractive to buyers, from clean financials and strong systems to reducing owner dependency and increasing transfer value. He speaks openly about why many business owners leave it too late to plan an exit, the risks of going to market unprepared, and why working with the right specialist matters. James adds his own experience throughout, reflecting on how he built The Power Within Training with an exit strategy in mind, including IP, systems, processes and a business model that could scale without being fully dependent on him.   Key moments include: ✔️ Growing up in a family business ✔️ Watching a £35 million business collapse ✔️ Why businesses should be built to sell ✔️ Stephen’s work as an operating partner ✔️ What buyers look for in a business ✔️ The importance of systems, team and transfer value ✔️ The reality of brokers and business sales ✔️ James’ approach to building IP and reducing owner dependency ✔️ Life and business in Dubai ✔️ Stephen’s three pieces of advice: work hard, treat your business as an asset, and build income-generating assets   Follow James Fleming: LinkedIn → https://www.linkedin.com/in/jamesflemingtpwtd/ [https://www.linkedin.com/in/jamesflemingtpwtd/] Instagram → https://www.instagram.com/successorexcusespodcast [https://www.instagram.com/successorexcusespodcast] YouTube → https://www.youtube.com/@SuccessorExcusesPodcast [https://www.youtube.com/@SuccessorExcusesPodcast] Website → https://thepowerwithintraining.com/ [https://thepowerwithintraining.com/]   Follow Stephen Pettigrew: LinkedIn → https://www.linkedin.com/in/stevenpettigrewinvestor/ [https://www.linkedin.com/in/stevenpettigrewinvestor/] Linktree →https://linktr.ee/stevenpettigrewinvestor [https://linktr.ee/stevenpettigrewinvestor]           Timestamps [00:00] Introduction to Stephen Pettigrew [00:01:00] Stephen’s background and growing up in a family business [00:03:20] What Stephen does now as an operating partner [00:05:30] How Stephen moved into acquisitions and private equity [00:06:00] The rise and collapse of his family business [00:07:50] Why a business should be built to sell [00:08:00] James’ approach to building The Power Within Training with an exit in mind [00:13:00] Owner dependency and building beyond your own name [00:15:50] IP, systems and transfer value [00:19:20] What makes a business attractive to buyers [00:24:20] The first step for business owners thinking about an exit [00:27:40] Why Stephen warns business owners to be careful with brokers [00:32:15] Why deals fall apart [00:36:10] Stephen’s perspective on life and business in Dubai [00:41:20] Stephen’s three pieces of advice [00:43:40] James’ closing thoughts on hard work, learning and looking after yourself

From One Business to a Group Model: Andrew Gilmour on Scaling Through Acquisitions | Episode 61

Andrew Gilmour didn’t just start a business, he built it through setbacks, lessons and a shift in thinking. After more than 25 years in the security industry, Andrew launched his own business and experienced both strong post-COVID growth and significant financial losses, which forced him to rethink his approach. That shift led him into acquisitions, where he is now building a group of businesses under a single holding company. In this episode of Success or Excuses, James Fleming sits down with Andrew Gilmour to explore the reality of business ownership, scaling through acquisitions and the mindset required to keep moving forward. Andrew shares how he transitioned from running a single business to acquiring multiple companies, the strategy behind his group structure, and why profitability and scalability are non-negotiables when buying businesses. Andrew also speaks openly about the challenges that come with business, including financial pressure, being unable to switch off and balancing work with family life. He shares what success looks like to him, not money, but building a strong team that believes in the vision. James adds his own experience throughout, reflecting on the early struggles of building a business, the reality behind the highlight reels, and why mindset plays a critical role in long-term success.   Key moments include: ✔️ Starting and growing a security business ✔️ Experiencing financial highs and setbacks ✔️ Moving into acquisitions and building a group ✔️ The strategy behind buying and scaling businesses ✔️ The realities of business ownership ✔️ Defining success through team and culture ✔️ Andrew’s three pieces of advice: don’t make decisions in anger, start before you’re ready, be yourself   Follow James Fleming: LinkedIn → https://www.linkedin.com/in/jamesflemingtpwtd/ [https://www.linkedin.com/in/jamesflemingtpwtd/] Instagram → https://www.instagram.com/successorexcusespodcast [https://www.instagram.com/successorexcusespodcast] YouTube → https://www.youtube.com/@SuccessorExcusesPodcast [https://www.youtube.com/@SuccessorExcusesPodcast] Website → https://thepowerwithintraining.com/ [https://thepowerwithintraining.com/]   Follow Andrew Gilmore: LinkedIn → https://www.linkedin.com/in/andrew-gilmour-a1b40b61/ [https://www.linkedin.com/in/andrew-gilmour-a1b40b61/] Company LinkedIn → https://www.linkedin.com/company/dimagroup-ltd/ [https://www.linkedin.com/company/dimagroup-ltd/] Company Website → https://dimagroup.co.uk/ [https://dimagroup.co.uk/]       Timestamps [00:00] Introduction to Andrew Gilmour [00:01:00] Andrew’s background and 25+ years in security [00:03:30] Starting his own business [00:06:00] Post-COVID growth and financial setbacks [00:10:30] Lessons learned from losses [00:14:00] Moving into acquisitions [00:18:30] Building a group structure [00:22:00] What makes a business worth buying [00:27:30] Profitability and scalability in acquisitions [00:32:00] The realities of business ownership [00:36:30] Switching off and work-life balance [00:40:30] Defining success beyond money [00:44:00] Building a strong team and culture [00:48:00] Mindset, learning and resilience [00:52:00] Andrew’s three pieces of advice [00:55:00] Closing thoughts

No Degree, Two Failed Starts and One Stellar Business Journey: Colin Frame’s Story | Episode 60

Colin Frame didn’t build Stellar by following the traditional path. After leaving school without going to university or college, Colin used work as his classroom. After two failed attempts at business, personal challenges and moments that tested his resilience, he kept going and built Stellar into a business with just under 200 people. In this episode of Success or Excuses, James Fleming sits down with Colin Frame to talk about business, resilience, work ethic and making your own luck. Colin shares how an early opportunity at 16 shaped his belief in giving others a chance, why Stellar is built around doing things differently, and how the company’s mission is rooted in helping people build careers in technology. Colin also speaks openly about the sacrifices behind business ownership, including failed attempts, personal setbacks and learning to ignore criticism from people who don’t know the full story. James adds his own experience throughout, reflecting on the realities of building a business, delegation, hiring, selling with passion and why values matter when you’re building something meaningful. Key moments include: ✔️ Colin’s background and early career in banking ✔️ Building Stellar after two failed business attempts ✔️ Creating a niche through opportunity and technology ✔️ The sacrifices behind business ownership ✔️ Resilience, criticism and making your own luck ✔️ Delegation, hiring and building a trusted team ✔️ Selling with passion and telling the business story ✔️ Public sector tenders and pricing challenges ✔️ AI, automation and the future of work ✔️ Colin’s three pieces of advice: listen more than you talk, work hard, and never be scared to fail   Follow James Fleming: LinkedIn → https://www.linkedin.com/in/jamesflemingtpwtd/ [https://www.linkedin.com/in/jamesflemingtpwtd/] Instagram → https://www.instagram.com/successorexcusespodcast [https://www.instagram.com/successorexcusespodcast] YouTube → https://www.youtube.com/@SuccessorExcusesPodcast [https://www.youtube.com/@SuccessorExcusesPodcast] Website → https://thepowerwithintraining.com/ [https://thepowerwithintraining.com/]   Follow Colin Frame: LinkedIn→ https://www.linkedin.com/in/colin-frame-21a94915/ [https://www.linkedin.com/in/colin-frame-21a94915/] Website → https://stellaruk.co.uk/ [https://stellaruk.co.uk/] Email → colinframe@stellaruk.co.uk [colinframe@stellaruk.co.uk]           Timestamps [00:00] Introduction to Colin Frame [00:01:00] Hearts, Stellar and the front-of-shirt sponsorship [00:03:30] Colin’s background and early career [00:05:00] Starting the business and finding a niche [00:07:00] Giving people opportunity through technology [00:08:30] Failed attempts and early business lessons [00:10:00] Resilience, sacrifice and personal challenges [00:12:30] Spinning plates as a business owner [00:14:00] Values, culture and doing things differently [00:15:30] Delegation and trusting other people [00:18:30] Growing Stellar to just under 200 people [00:20:30] Sales, passion and telling the business story [00:25:00] B2B, B2C and different customer challenges [00:27:30] Public sector tenders and long timelines [00:31:00] Pricing, tender lessons and commercial decisions [00:35:00] AI, automation and the future of work [00:39:00] Scotland, technology and work ethic [00:41:00] Loving the work and building something meaningful [00:43:30] Colin’s three pieces of advice [00:45:30] How to contact Colin [00:46:20] Closing thoughts

Scaling Too Fast & Learning the Hard Way: John Cox on Growth, Alignment and Leadership | Episode 59

John Cox didn’t follow a straight path into business; he built it from the ground up. After a short stint in professional rugby, John went on to start Cox and Co, a property services company based in Edinburgh. Over the past 20 years, the business has grown across Scotland and into the north of England through the Casa Group. In this episode of Success or Excuses, James Fleming sits down with John Cox to explore growth, leadership and capacity. John shares how he scaled the business quickly, the challenges that came with it, and the lessons learned around alignment and decision-making. He also speaks about selling his business, buying into a larger group, and what it really takes to lead at that level. Alongside that, John reflects on family, non-negotiables, and the importance of managing your capacity both in business and in life. James brings his own perspective into the conversation, sharing the realities of leadership and the pressure that comes with it.   Key moments include: ✔️ Starting Cox and Co with family ✔️ Scaling quickly to hundreds of properties ✔️ The challenges of rapid growth and misalignment ✔️ Investing heavily in coaching and marketing early on ✔️ The need for a “big brother” in business ✔️ Selling the business and buying into a larger group ✔️ Leading at scale across multiple regions ✔️ Balancing business growth with family priorities ✔️ Setting non-negotiables as a leader ✔️ Capacity, discipline and long-term thinking   Follow James Fleming LinkedIn → https://www.linkedin.com/in/jamesflemingtpwtd/ [https://www.linkedin.com/in/jamesflemingtpwtd/] Instagram → https://www.instagram.com/successorexcusespodcast [https://www.instagram.com/successorexcusespodcast] YouTube → https://www.youtube.com/@SuccessorExcusesPodcast [https://www.youtube.com/@SuccessorExcusesPodcast] Website → https://thepowerwithintraining.com/ [https://thepowerwithintraining.com/]   Follow John Cox LinkedIn → https://www.linkedin.com/in/john-cox-coxandco-scotland/ [https://www.linkedin.com/in/john-cox-coxandco-scotland/] Company LinkedIn → https://www.linkedin.com/company/coxandco-scotland [https://www.linkedin.com/company/coxandco-scotland/posts/?feedView=all] Website → https://coxandco.co/ [https://coxandco.co/]       Timestamps [00:00] Introduction to John Cox [00:00:10] John’s background and current roles across Cox and Co and Cassa Group [00:01:00] Family life, non-negotiables and being present as a father [00:01:40] Going back to the early days of the business [00:05:30] Starting a second business with family and rapid growth [00:06:30] Scaling quickly and the challenges of alignment [00:07:00] Vision differences within a family business [00:16:50] The need for a “big brother” in business [00:17:50] Selling Cox and Co and buying into a larger group [00:18:30] Growth through acquisitions and expanding the brand [01:05:20] Lifestyle choices, discipline and managing capacity [01:06:00] Closing thoughts and where to connect with John

Cancer Diagnosis to the Comedy Stage: Rachael’s Unfiltered Leadership Journey | Episode 58

Rachael has never followed a straight path, and she’s never tried to. From growing up in Leith and training as an opera singer to leading socially driven, creative work, her journey has been shaped by challenging expectations and doing things differently. Along the way, she learned the importance of focusing on strengths, using creativity for change, and what real leadership looks like. In this episode of Success or Excuses, James Fleming sits down with Rachael to explore entrepreneurship, leadership and personal adversity. Rachael shares how teaching opera in prisons reshaped her understanding of potential and leadership, and how that experience still influences her work today with the Creative Entrepreneurs Club. She speaks openly about running a business through the pandemic, growing a community from hundreds to thousands, and making tough decisions around values and relationships. She also shares the reality of being diagnosed with breast cancer, navigating surgery and recovery, and continuing to lead through it all. James brings his own experiences into the conversation, reflecting on the pressures of business ownership and the unseen challenges leaders face. The episode also explores Rachael’s move into stand-up comedy, using humour to process her journey and connect with others, alongside her evolving perspective on leadership, vulnerability and purpose.   Key moments include: ✔️ Growing up in Leith and pursuing opera ✔️ Teaching opera in prisons and leadership lessons ✔️ Building the Creative Entrepreneurs Club ✔️ Navigating the pandemic in business ✔️ Breast cancer diagnosis and recovery ✔️ Leadership through adversity ✔️ Moving into stand-up comedy ✔️ Rachael’s three pieces of advice: listen, back yourself, and accept that it’s okay not to be okay   Follow James Fleming LinkedIn → https://www.linkedin.com/in/jamesflemingtpwtd/ [https://www.linkedin.com/in/jamesflemingtpwtd/] Instagram → https://www.instagram.com/successorexcusespodcast [https://www.instagram.com/successorexcusespodcast] YouTube → https://www.youtube.com/@SuccessorExcusesPodcast [https://www.youtube.com/@SuccessorExcusesPodcast] Website → https://thepowerwithintraining.com/ [https://thepowerwithintraining.com/]   Follow Racheal Arnold LinkedIn → https://www.linkedin.com/in/rachaeloarnold/ [https://www.linkedin.com/in/rachaeloarnold/] Website → https://www.creativeentrepreneursclub.co.uk/ [https://www.creativeentrepreneursclub.co.uk/]     Timestamps [00:00] Introduction to Rachael [00:00:56] Rachael’s background and creative journey [00:03:10] Teaching opera in prisons and leadership lessons [00:06:40] Using creativity for social change [00:09:20] The pandemic and business challenges [00:10:50] Building the Creative Entrepreneurs Club [00:14:20] Values, relationships and tough decisions [00:15:40] Cancer diagnosis and discovery [00:20:00] Surgery and facing mortality [00:33:20] Divorce, family changes and personal challenges [00:35:50] Surgery recovery and returning to work [00:44:10] Radiotherapy and rebuilding routine [00:45:30] Moving into stand-up comedy [00:49:20] Vulnerability, leadership and public response [00:52:20] What great leadership really means [01:00:00] Future plans and purpose [01:08:10] Rachael’s three pieces of advice