Deloitte & Touche - Link - Winter 2002
Alumni on the move
Name: Leigh Nissim
Company: BusinessesForSale.com
Position: CEO
Time at Deloitte & Touche: 1997-2000
Department: Financial Services
1. What has been your greatest achievement in your career so far?
Raising £1.7m to build BusinessesForSale.com and then becoming America's second biggest platform for selling businesses, despite being based in London. The website had existed for several years, but it wasn't making any money. A university colleague and I pitched the business plan to a financial adviser who subsequently helped us to raise the funds from forty investors, ranging from angels to incubators. Our second best achievement is not to have spent the bulk of the money!
2. What is the most channeling aspect of your current role?
Having time to do my own work. I liken my role to a doctor's surgery – constantly resolving everyone else's issues. That's why I'm in before the rest of the team at 7.30am each day – clear time to do my own work.
3. Do you have any funny stories of your experience working in the area you do?
As we help people sell businesses that range from manufacturing firms in the West Midlands, goldmines in South Africa through to strip bars in Florida, I'm constantly amazed at the power of the Internet and our website, which has over 10,000 businesses for sale. One of our fastest success stories is that we helped a milkman realise his dream to buy a newsagent within 48 hours – I never thought I'd do that when I was as Treasury consultant with Deloitte & Touche analysing interest rate swaps!
4. What is your most endearing memory of your time at Deloitte & Touche?
Taking clients to the Spurs Box to watch Tottenham qualify for the final of the Worthington Cup. Or when the accountants in the Financial Services Practice called my team (the Treasury Team), the "coneheads"!
5. Who would you most like to be stuck in a business meeting with and why?
David Blaine, the magician. Not only could he entertain us with his magical feasts, but also I'm sure he could work some magic to trick the other attendees to come round to our way of thinking.
6. If you could offer one piece of advice to someone just entering the profession, what would it be?
Get some commercial experience. Nothing beats working in a commercial environment for a period of time. You get to appreciate the difficulties of employment, sales, finance and technology first hand.
7. What has been the most striking lesson you have learnt so far this year?
Never go back on a transaction. If you do a deal, stick with it and your rationale for doing it. Reversing it often appears weak, gives others reasons to attach you and can often prove wrong in the long term.
8. What are your hopes for the future?
For my family to be happy and healthy. And wealthy. In terms of the business, I'd like to find a partner, like an international media conglomerate, that can help make us the US #1 player, not number two!
9. What do you think is the most important business skill to have?
Management. In everything that you do, management is the core. Whether you are managing a team, your boss, yourself or a client, the skills are similar. Manage them well and you will succeed.
10. What was the most useful piece of advice you were given whilst you were at Deloitte & Touche?
Focus on solutions and not problems. I.e. react positively and not negatively to a situation.
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