Why you shouldn't sell your business. - David Adams

In this episode of Entrepreneur Conversations, host James Martin interviews David Adams, an entrepreneur who previously sold his timber business for £12 million but found himself bored during a holiday and decided to start another venture from scratch. David discusses the background of his new company, Woodbox, a timber merchant and wholesaler based in Winchester, shedding light on how he grew his initial business over 10 years.

David explains the process of selling his previous business, highlighting the discussions that led to the sale and the pivotal support of a broker. He describes the emotional complexities associated with selling a business and the challenges he faced during due diligence. Transitioning to his new enterprise, David shares his strategies for sourcing customers and the difficulties of operating in the current economic climate. He emphasizes the importance of relationships and the need for traditional marketing techniques in today’s business landscape.

At the same time, David reflects on the emotional toll entrepreneurship can take, recounting personal experiences of stress and the impact on family life, while also outlining how he aims to balance work and family now. He also addresses his views on success, his plans for growth, and the lessons learned from both successes and failures in his entrepreneurial journey.