The short answer
Tim Burgess shares how he grew an outsourcing business to an eight-figure exit, including the co-founder dynamics, culture decisions, and process discipline that made the transaction possible.
Key takeaways
- The importance of business values and alignment
- Conflict resolution: How to maintain healthy tension
- Navigating the inevitable bumps in the road with business partners
- How to turn friendly competitors into strategic acquirers
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1 hr 3 minWatch the full interview
About this episode
Tim Burgess struggled to get a job out of university. Like many born-to-be entrepreneurs, he was a self-described bad employee. But what he lacked in employability, he made up in passion for people and building strong business culture.
His passion led him to running multiple businesses across the world, including Shield GEO, an outsourcing company that strived to help businesses quickly and compliantly employ staff anywhere in the world.
Several hundred employees, thousands of remote workers, and a 7-10x EBITDA valuation later, Shield GEO was acquired by the industry leader for an 8+ figure.
Learn how Tim’s people-centric outlook helped him not only grow a great company, but also attract and ultimately convert a massive strategic acquirer.
Chapters
- 17:14Tension is a healthy component to any growing business, but too much tension and you run the risk of conflict, not enough and you become complacent. Here’s how Tim found the balance
- 20:25When you’re setting up a shareholder agreement, don’t just focus on the negative. Tim’s advice: Focus on values, communication, and working styles to build healthy partner relationships
- 34:45From talking about partnerships or mergers every 6-12 months, Tim’s friendly competitor finally got through to the business duo with an undisclosed offer in the 8 figures
- 40:48As an early mover in the ‘work from anywhere’ market, Tim and his business partner were well positioned for acquisition after COVID-19
- 56:46Tim’s top tip to take away: Time is the thing you’ll never get back in business, so figuring out your baseline for an exit will help you frame your future business journey
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About Tim Burgess
Tim Burgess is a Co-Founder of Shield GEO, an established global Employer of Record (EoR) provider based in Hong Kong with entities in the U.K. and Australia, and a global remote team.
Tim started Shield GEO with his business partner, Duncan Macintosh in 2015 after they realised a gap in the market while working with their clients in their previous startup, Contractor Taxation. Shield GEO has been recently acquired by Velocity Global, the largest global EoR in 185 countries and all 50 United States.
Over the years, Tim has dealt with thousands of international workers and learnt so much on the way. He believes that people, businesses, and nations get enormous benefits from international work. And that businesses should be able to employ staff quickly and compliantly anywhere in the world.
He is on a mission to make this simple. Shield GEO employs hundreds of remote international workers in over 60 countries for companies, including Shutterstock, Shopify, and Techstars.
Connect with Tim Burgess
About the show
Buy Grow Sell is hosted by Simon Bedard, founder and managing director of Exit Advisory Group, a boutique mergers and acquisitions advisory firm that helps Australian business owners value, prepare for and navigate a sale. Every conversation draws on real deals and the patterns behind them.
