Strategically building your business with exit strategies in mind - Insights from Alistair Wells, founder of Tend Legal

In this episode of the Beautiful Business Podcast, host Yiuwin Tsang sits down with Alistair Wells, co-founder and director of Tend Legal, a law firm dedicated to supporting startups and scale-ups. Alistair shares his insights on running a business with an exit in mind, drawing from his experiences helping businesses through the exit process. Alistair discusses the importance of having a clear exit strategy from the early stages of your business, emphasising how it can streamline the process and prevent last-minute complications. He shares cautionary tales of businesses that faced unexpected hurdles during their exit due to overlooked details, highlighting the significance of having your "house in order."The conversation covers strategic partnerships and joint ventures as potential pathways to growth and acquisition. Alistair provides valuable advice on structuring these partnerships, addressing ownership of intellectual property, and planning for potential exits within the partnership.A significant portion of the discussion focuses on managing teams during the sale of a business. Alistair shares insights on when and how to communicate with employees about impending changes, emphasising the need for a well-choreographed communication strategy to maintain trust and minimise disruption.Finally, Alistair offers a heartfelt piece of advice to founders embarking on the journey of selling their businesses: be prepared for the emotional toll it may take. He encourages founders to take the time to reflect and recover after the sale, acknowledging the potential feelings of loss and the importance of decompressing before diving into new ventures.Tune in to this episode to gain valuable insights into running a business with an exit in mind, managing key relationships, and navigating the emotional journey of selling a business. Whether you're a seasoned business leader or just starting your business journey, you'll find practical advice and wisdom in this conversation.About Alistair WellsAlistair, founder and director of Tend Legal, is an experienced solicitor with a wide practice covering company, commercial, employment law and dispute resolution.Before founding Tend Legal, Alistair was a partner at Woodfords Solicitors in South West London, where he built up more than 13 years’ experience advising small and medium sized business on an array of issues ranging from business sales and acquisitions to employee share schemes. Alistair is known for his approachable manner, zen-like calm, and clear commercial legal advice.With three young children, there isn’t a lot of downtime, but when not working or reading bedtime stories, Alistair can be found listening to dusty old LPs, riding bikes and pretending not to watch cheesy US rom-drams.The Beautiful Business Podcast is bought to you in partnership with:Krystal Hosting - the UK's premium sustainable web hosting provider