#02: £5m to £5bn: How to Structure Your Business for Maximum Value with John Henderson

In this episode, Dan Thompson sits down with John Henderson, Deputy CFO at MIQ and a private equity veteran with 15+ years of experience across deals from £5m to £5bn. 

From building bulletproof 13-week cash flow models to zeroing in on investor-grade KPIs, John explains how to structure your business for maximum value. He shares real-world lessons, including how he uncovered a regulatory risk that derailed a pharmaceutical transaction, and flagged a £60m CapEx blind spot in a fleet deal. 

Key Takeaways:

• Clean financials are non-negotiable for scalable growth and investor confidence 
• Strong cash flow forecasting helps you navigate uncertainty and stay in control 
• Profitability and EBITDA conversion are critical in mature sectors, but for high-growth startups, investors prioritise ARR, churn, and market potential.
• Retention and team structure are critical in service-based businesses
• In high-growth sectors like AI, investors prioritise ARR, churn, and market potential over short-term profits

Subscribe to the Next Exit podcast.

Check out Dan’s Private Equity-Grade Forecasting software, Kluster, here: https://www.kluster.com/

Send podcast guest pitches to: dan.thompson@kluster.com