I've been suspecting that Halpin's attempt at growth has lacked financial prudence with an upbeat entrepreneurial style putting the gloss on a somewhat gung-ho acquisitive strategy.
Admirable vision, poor execution.
Maybe some belated due diligence caused the results delay.
I'll have to review things I got a bit out of touch with this holding.
This level of debt and interest will not spur prospective customer confidence in new contracts.
Clearly, new management must now consolidate with a focus on balance sheet, while pressing on with excellent customer service with sensible margins.
Is there some risk the business now gets sold off to whoever is willing to settle the debt ? |
 I step down as CEO of the company I founded today.
Naturally I'm filled with a mix of emotions – equal parts pride, nostalgia but mainly positivity and excitement as with big change comes huge opportunity for both CloudCoCo Plc , as it now takes its next steps on its trajectory, and whatever I choose to do next.
Six years ago, I embarked on this rollercoaster ride of entrepreneurship armed with nothing but a dream, a dash of madness after being called Cloud Cuckoo, and an unmatched burning fire. And F#£%, what a ride it has been.
It's one of the loneliest roles in the world being a CEO at times and takes a huge toll on so many of life's most precious things but the learnings, thrills, experiences and new relationships I have gained are so very very precious.
Against all odds, we turned an idea as a startup into a reality, and that reality into circa a £30 mill turnover MSP in just 6 years.
But as much as this journey has been about numbers and milestones, it has been about the people – the passionate souls who have brought my ideas to life and poured their hearts and souls into this company day in and day out. Each and every one of you has left an indelible mark on CloudCoCo, and for that, I am eternally grateful.
As I step down from my role as CEO, I leave with a heart full of gratitude and a soul overflowing with pride. But more than anything, I leave with the unwavering belief that the best is yet to come for this incredible company and the phenomenal individuals who breathe life into it every single day.
'Our mission in life is not merely to survive, but to thrive; and to do so with some passion, some compassion, some humor, and some style.'
Thank you, from the bottom of my heart, for everyone who has shared, so far, in this extraordinary adventure. Here's to the future of CloudCoCo– and the crazy places mine will continue to take me, as it always has.
Get in touch if you have any Cuckoo ideas and want my experience, fire and mind to help fuel your acceleration.
I have to say the biggest thankyou to my wife, children and family who have felt the highs and the lows over the last 6 years and always been very supportive of me.
With all my love and gratitude for every supportive lender, partner, advisor, customer and everyone who supported this first 6 years.
The Kid on the Moped - Brum F£%king Brum :) |
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