This month, we continue our Founder Insights series by speaking to Paul Dorey about how he reached the decision to sell his business, GOb2b, and what it was like joining ClearCourse.
The decision to sell isn’t something that happens overnight. Paul talks us through how he knew it was time and the key things he wanted to gain from an acquirer, plus his plans for the future as he hands over the reins.
The decision-making process
Can you tell us about your business, and the vision behind it?
My wife Karen and I started the company as a generalist bespoke software company back in 2007. We settled on our Business-to-Business Ecommerce product integrated to common Accounting\ERP systems, but our vision was always to build a big successful software business that we would eventually sell. It just took a lot longer than expected and never got quite as big as we hoped.
What problem were you trying to solve?
B2B customers often maintain credit accounts, pricing and stock levels in their Accounting/ERP systems. Standard ecommerce platforms cannot provide this information, so they receive lots of phone calls: What is my price? Do you have stock? Can I place an order? Where is my order? Can I have a statement? GOb2b solves all of this with an ecommerce platform specifically for B2B suppliers that houses that information centrally, and enables our customers to self-service their required information.
What led you to decide that it was time to look for a new home for your business?
Both Karen and I were approaching the old retirement age of 65 and were well past ‘early retirement’ so it was time to move on.
What was most important to you in a buyer, and why did you ultimately choose to join ClearCourse?
Naturally with anyone looking to sell their business, price was important to us, and with ClearCourse’s payments model we were able to get a good valuation. The second factor was that like most SMEs we were very attached to our staff, who in many cases had worked for us for years in our small market town. Talking to ClearCourse and other founders who had joined them, it was clear that this would be a good home for our staff.
“Talking to ClearCourse and other founders who had joined them, it was clear that this would be a good home for our staff.”
The integration experience
What opportunities has joining ClearCourse unlocked that wouldn’t have previously been available?
The chance to embed payments directly into the software was huge. This not only opened up revenue opportunities, but there are also payment opportunities beyond the ecommerce checkout which we are beginning to capture, resulting in more features for our customers. With 40+ business acquired by ClearCourse there is a wealth of knowledge to tap into across the group, so the old saying ‘a problem shared is a problem halved (or solved)’ is very much true.
How has been acquired by ClearCourse had a positive impact on your business?
Well, it is no longer ‘our business’ which is in itself positive, as it brings a new perspective. Our internal processes have become more disciplined, particularly as we prepare to hand over the reins to the new Director who has been appointed from within the business.
What is the overall culture of the business, and what are the people like across the organisation?
The culture is welcoming and there is a genuine desire to help. The leadership team is very dynamic and while demanding of results, they coach and mentor to help goals get achieved. As with any larger organisation there are certain processes to follow, but it is understandable to achieve consistency across so many businesses.
“The ClearCourse leadership team is very dynamic and while demanding of results, they coach and mentor to help goals get achieved.”
Looking ahead
What’s next for GOb2b?
The next big thing will be the introduction of AI to both the product and our internal coding and support processes. ClearCourse is very much on the front foot with AI and GOb2b will be able to benefitfrom considerable group expertise and support.
After building and leading the business for so long, what are you most looking forward to focusing on personally?
Spending the next few years sailing around the world. Our life has had 3 big chapters: 20 years in the Royal Navy for me and 6 years in the RAF for Karen, 25 years building GOb2b and 30 years raising our family of 5 boys. So, we both wanted one more big chapter, and sailing is that, before finally slowing down a bit and enjoying retirement.
What would you say to someone considering ClearCourse as a home?
Under its current leadership ClearCourse may very well be the right home for your software company. It is well practised at discovery, due diligence and integration. If you proceed you will find the process demanding but fair, and in our case, it really has been fun!
“ClearCourse is well practised at discovery, due diligence and integration – the process is demanding but fair, and in our case, it really has been fun!”