When people search for business mentors Hamilton or business advisors Hamilton, they’re often looking for one thing: clarity.
Clarity about growth, leadership, value — and ultimately, how to exit their business with a financially satisfying result, without the stress.
I had the pleasure of talking with Toni and Keith Paton last week who successfully sold their business last year and have been enjoying retirement ever since.
They had just returned from a motorhome trip around NZ and were excited to share their experience about "Stepping Out" from their business.
A key insight from this is that while Toni and Keith ran a successful business, it wasn't as prepared for sale as they initially believed.
Here's their story.
An interview with Keith and Toni Paton
Why did you start the business?
“We started our business in 1992, inspired by a desire for change and to work for ourselves. Keith was working in a joinery business at the time and saw a growing opportunity in manufacturing beautiful kitchens.”
Was it an easy 30 years and what challenges did you face?
“We had plenty of growing pains along the way but fortunately we also had 20 years of growth.
It wasn’t smooth sailing every day, but we genuinely enjoyed the journey — even when the challenges piled up. We were proud of the loyal clients we earned and the great relationships we built along the way.”
What made you want to sell the business?
“During Covid, we both started feeling the need to take a step back. Keith felt burnout and we knew it was close to the right time to retire. The thought of spending more time with our grandkids and family was very appealing. ”
Did you list the business straight away?
“We just assumed we would just sell the business as it was, however thankfully a close family friend informed us this was not the right strategy and we should definitely talk with someone first. He recommended BSP Advisory Group and the local guy in our area is Phil Wicks.
After a coffee with Phil, it was obvious we needed to tighten a few things. We need to strengthen operations, internal systems, and build the kind of business someone else could confidently take over.”
This is classic STEP OUT territory — long-time owners wanting to exit, but without the systems, leadership depth, or documented processes a buyer is looking for.
What changed in the business?
“Phil guided us through strengthening the essentials — workshop systems, clearer financial rhythms, and reducing owner dependency. These were key STEP foundations to make the business genuinely appealing to a buyer.
He then helped us explore succession as a potential STEP Out pathway. Once we shared our plans with the team, we discovered that Jamie, one of our joiners, was keen to purchase the business..”
Had you considered succession planning before?
“Yes we had heard of it and what we had heard was true. Selling your business to someone already in the business has some advantages and Phil played a pivotal role in the whole process including working with Jamie to ensure everybody got a fair deal. I would recommend working with a professional if you plan on doing this.”
How was your experience?
“What made Phil stand out was not just his expertise but his genuine investment in us and our business. His commitment went beyond just business transactions. He became a mentor, regularly tracking our progress, offering invaluable advice and being the supportive outside party we could turn to.”
Any advice for someone considering selling their business?
“Yes. Speak with a professional, make sure you get good information first and establish that the person has a good track record.
Fortunately we were introduced to Phil and went down the succession planning route. It turned out that was the best advice ever and 1 year later we sold the business and everybody was delighted with the outcome including Jamie.
Thank you, Phil, for being such an integral part of our journey. ”
It was lovely to talk with these two legends and the smiles say it all.
It was a pleasure sitting down with these two, and their smiles say everything about a well-planned exit. Sadly, many owners never get to experience a transition like this because they rush into selling before exploring their options properly.
Their story is a reminder that the best time to start planning your exit was yesterday. BSP Advisors are based across the country and can help you choose the right STEP path — long before you need it
