From £5M Success to Closure: The Rise and Fall of Finlay James with John Gaughan

Описание: In this episode, I sit down with John Gaughan to unpack the rise and fall of Finlay James, a 20+ year old and £5M recruitment business.

We explore hard lessons on leadership, navigating financial struggles, and rebuilding after liquidation.

John shares candid insights on resilience, tough decisions, and the realities of running a recruitment firm that went into liquidation.

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Timestamps:
00:00 - Intro and welcome
01:30 - Setting the stage: Recruitment challenges in 2023
03:15 - The untold stories of recruitment businesses going out of business
05:00 - Reflecting on Finlay James’ legacy and impact
07:48 - Finlay James at its peak: A £1m month
09:30 - Navigating market shifts in tech recruitment
12:13 - The team structure and challenges of a 180/360 model
15:42 - Addressing market changes and recruitment industry challenges
18:55 - Lessons from the downturn and interest rate impact
23:16 - Could things have been done differently?
27:14 - Signs of trouble: When things started to unravel
30:16 - Financial challenges and shifting headcount
35:00 - The impact of market conditions on team performance
41:03 - Exploring options: Sale, funding, and partnership discussions
44:22 - When reality sets in: Accepting the situation
50:35 - Personal reflections and lessons learned
57:35 - Looking forward: Building a new business

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