From bedroom startup to multimillion-pound exit: A conversation with entrepreneur Steve Broughton

Can you tell us about your journey into entrepreneurship?  

Steve: I started my first business at 29, after five years in a corporate environment. One day, a colleague casually remarked, “I think you could do this on your own.” That comment planted a seed in my mind, and suddenly, it clicked. I left the corporate world and started my own specialist cleaning business.  

At that time, I was living at my parents' house and literally started the company in my bedroom with no money and only a computer. It took a few months to land my first job, but I was persistent.

Over 18 years, I grew that business to become the UK’s largest independent specialist cleaning company in its field, employing 120 people across five depots. The journey wasn’t easy, but persistence paid off. Building a business that takes time and effort – something I think many people underestimate.

What motivated you to start your own business? 
 
Steve: I realised I wasn’t driven by the corporate game. I wanted freedom and independence—things I couldn’t find in a traditional job. I wasn’t motivated by money or an exit strategy when I started. It was about living and dying by my own sword. I loved the idea that every effort I made was for me, and I was the one who would reap the rewards or face the consequences.

That sense of self-determination kept me going, no matter how tough things got. There was a fire inside me that said, "You can't quit." Even in the worst times, it never crossed my mind to give up.

What challenges did you face in growing your first business?

Steve: One of the biggest challenges was not knowing what I didn’t know. When you don’t have experience, you learn through trial and error, which can be painful.

Another major hurdle was scaling the business. Every time we hit a new revenue milestone – £1 million, £3 million, £5 million – there were new challenges, mostly around managing people. Hiring and motivating the right team was incredibly difficult. I underestimated how much time I needed to devote to training and developing my employees. Looking back, I wish I had spent more time on that, rather than trying to do everything myself.

"The biggest challenge was not knowing what I didn’t know. Scaling a business is really about managing people."

What were the biggest challenges you faced during the exit process of your first business?

Steve: It was a learning curve, to say the least. When I decided it was time to move on, I had a great team in place and thought we were ready. But the exit process is long, tough and exhausting in several ways.

One challenge was the sheer amount of detail involved. I’m not a detail-oriented person, so I relied heavily on my staff and advisers. The legal and financial side can be exhausting.  

Due diligence feels like it never ends and offers can change after that process. I thought that once someone offered to buy the business, it was a done deal—but that’s just the start.

Also, the costs involved were significant. Whether your business is worth £500,000 or £10 million, the fees and costs can be excessive.

On a personal level, the emotional side of exiting was difficult too. Selling the business felt like giving away part of my identity. You don’t realise how much a business becomes part of who you are until you’re faced with letting it go.

How did the exit affect you emotionally, and what would you do differently?

Steve: Emotionally, it was a rollercoaster. I was excited to sell, but once it was done, I felt strangely underwhelmed.

"Selling a business is not just a financial decision—it’s deeply emotional. I didn’t realise how much of my identity was tied to it."

For years, the business had been a part of my identity, and suddenly that was gone. There’s an emotional vacuum after you exit, and it can be quite hard to adjust. I also felt powerless watching the business I’d built start to falter under new management, which added to the frustration.

I hadn’t anticipated how hard that would hit me. I struggled with anxiety and felt like money was being lost due to decisions I wasn’t in control of. Looking back, I think I went through a period of depression, and it took me a while to recover from that.

One thing I wish I’d done differently was take more money off the table upfront. I held on to some shares and agreed to a deferred payment, which didn’t work out as planned. My advice to anyone selling is to take as much as possible at the start, because you lose control once you’re out of the driver’s seat.

"Take as much money off the table at the start as you can—you won’t have control once you exit."

What are your plans for your current business and its eventual exit?

Steve: This time around, I’m more prepared. We’re looking at an exit in the next 12 to 18 months, and I’ve been building relationships with potential buyers early. I’m keeping them updated regularly so that when the time comes, they already feel comfortable with us and then hopefully be a smoother process.

This exit will be different – I’m aiming for a clean break, a full exit. I want to take the cheque, hand over the keys, and move on. I’ve learned my lesson from last time. All the shareholders are aligned, and we want to leave on a high note while the business is thriving.

I also want to ensure that the business goes to a buyer who has the resources to sustain and grow it. The difference now is that the potential buyers are larger organisations or private equity firms with deeper pockets, so I’m confident they’ll have the means to take the business forward.

"This time, I want a clean break—take the cheque and hand over the keys. I’ve learned my lesson."

What are you most proud of from your entrepreneurial journey?

Steve: I’m proud of the people I worked with and the fact that we built a business that employed so many people. Some of the early employees stuck with me through thick and thin, and seeing them grow personally and professionally was incredibly rewarding.

I’m also proud of contributing to the economy – paying taxes, creating jobs, and supporting wider society. Finally, I’m proud that I navigated the exit process and came out relatively unscathed, which is no small feat in itself.

"I’m most proud of the people who grew with me and seeing how their careers developed over the years."

If you could give advice to your younger self, what would it be?

Steve: I’d tell myself to focus on preparation. It’s like that saying, "If you have an hour to cut down a tree, spend 45 minutes sharpening the axe." Build solid systems and foundations from the start, and don’t let yourself get overwhelmed by wearing too many hats.

I’d also advise finding a mentor or someone experienced to guide you. My business partner has scaled our second business much faster than I did with my first, simply because I’m there to help him avoid the mistakes I made. Having a mentor can save you years of trial and error.

What’s next for you after this exit?

Steve: I’m not interested in starting another business from scratch, but I’d like to invest in smaller businesses and share my knowledge. I’ve enjoyed helping my current business partner and acting as a guide rather than being in the trenches every day. I’d like to do more of that – investing and mentoring, but without the pressure of running the show.

I also want to spend more time with my family and ensure we’re financially secure. For me, it’s about finding the right balance between work, investment, and enjoying life.