NEW OWNER: Buying a business days away from RUIN - “a baptism of fire” with Rachel Wellbelove
Description
We are joined by Rachel Wellbelove who has 30 years experience in business, with 17 of those in running her own businesses. She talks in this episode about buying a business which she quickly found out had run out of cash and was riddled with problems including email fraud and debts. She reveals the stress and pressure this caused her for many years, and how despite the huge barriers she managed to turn this business around to a £4 Million turnover and eventually exited after a sale.
Rachel's story, which also includes overcoming cancer at 21, is a testament to resilience, adaptability, and the unwavering determination to turn adversity into triumph. Listen in as she shares the highs, lows, and invaluable lessons from her rollercoaster journey in the business world.
About Rachel Wellbelove
With 30 years of business expertise in startups and multinationals like British Airways and Deutsche Bank, Rachel Wellbelove, a property investor based in Bahrain, boasts 17 years of running successful businesses, including construction and logistics. In 2020, she sold her logistics business following a remarkable turnaround from near insolvency. She also spent 10 years serving as a magistrate.
Key Topics
Buying a business and avoiding near disaster
Limited due diligence on the business purchase
A baptism of fire ....Bad debts, email fraud, non payments
Benefits of corporate career and lessons
Challenges of leading construction business as a female
The influence of herr father as first mentor
Managing the transition of changing the leadership team and getting the right fit when buying a business
Steep learning curves around cash flow and lack of profitability
Pitfalls of buying a business with no industry knowledge
Seeing extreme challenges as vital lessons and an education
Constant stress, pressure and fire fighting for 3 years
How she turned business around to be profitable and £4m in revenue
Still being scared of failure
Overcoming major health issues
Book reference : Man’s Search for Meaning
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