Billionaire Business Podcast
Welcome to Billionaire Business. In this series we will be popping the myth that you cannot create a billion pound business in the UK - that’s simply not true
• Inspirational interviews • Advice on how to raise equity and debt • Mistakes to avoid • How to scale rapidly • Create the next billionaire business
Listen on:
Co-hosts: Chris Godsmark & Ian Fishwick
Hello I’m Ian Fishwick (on the right), I’m a technology entrepreneur who started a business in a spare bedroom with little money and eventually sold it in a £100 million transaction. I've been listed on the stock market and done over 40 acquisitions along the way. I had the honour of reporting 29 consecutive years of rising EBITDA, and was named UK CEO of the Year on 3 occasions. I wrote 'The Street-Smart MBA' - I’ve been in business for over 30 years and I’ve got all the war stories to prove it.
And I’m Chris Godsmark (on the left) and for over two decades I’ve been advising technology led companies with valuations of up to a billion pounds and more on mergers and acquisitions. And along the way I helped to create an advisory business which we scaled and sold.
Episodes
Sep 2, 2026
Sep 2, 2026
42 min
In this episode of Billionaire Business, hosts Ian Fishwick and Chris Godsmark sit down with retail legend and former M&S CEO Lord Stuart Rose to explore the extraordinary career behind some of Britain’s most iconic retail brands. From starting as a management trainee at Marks & Spencer to becoming its chief executive and later chairman, Stuart shares the experiences, risks and lessons that shaped a career spanning M&S, Debenhams, Argos, Booker, Topshop and many more.
Stuart explains why he never planned his career, how leaving M&S gave him the skills to eventually return as CEO, and why taking opportunities – even when they seem like a risky career move – can be crucial to getting ahead. He also reveals how he approaches business turnarounds, from diagnosing problems by listening to employees to identifying the key levers that can transform a struggling organisation.
The episode also explores:
Why you should focus on doing your current job well rather than planning your entire career
How taking career risks can give you the skills needed for future leadership
The importance of listening to employees when diagnosing problems in a business
Why CEOs need the courage to admit when a strategy isn't working
How Stuart transformed M&S by focusing on product, service and environment
The balance between online shopping and the continued importance of physical stores
What today's leaders can learn from decades of retail experience
Stuart also reflects on the future of retail, the impact of AI and technology, and why businesses must constantly adapt to changing consumer expectations. Along the way, he shares some of his most memorable lessons from decades in business, including why “the consumer is totally promiscuous”, why companies must look out the window before the world passes them by, and why sometimes a product isn't wrong – it's simply too early.
Tune in for a masterclass in leadership, retail, business turnarounds and innovation from one of Britain's most experienced retail executives, and discover the lessons Stuart Rose has learned from a career at the heart of British business.
Follow & Catch Up With Us
Want more from Billionaire Business Podcast? Tap in for exclusive content, behind-the-scenes moments, and everything that doesn’t make it into the mic.
Follow Ian Fishwick:
LinkedIn: https://www.linkedin.com/in/ianfishwick
Email: ian.fishwick@billionairebusiness.net
Follow Chris Godsmark:
LinkedIn: https://www.linkedin.com/in/chrisgodsmark
Email: chris.godsmark@billionairebusiness.net
Follow Billionaire Business:
Website: www.billionairebusiness.net/
Follow us on LinkedIn: www.linkedin.com/company/billionaire-business-podcast
Aug 19, 2026
Aug 19, 2026
45 min
From Selling Mobiles to Burgers: How Charles Dunstone Became a Retail Legend
In this episode of Billionaire Business, hosts Ian Fishwick and Chris Godsmark sit down with retail entrepreneur and Carphone Warehouse founder Charles Dunstone to explore how he built one of the UK’s most successful retail businesses. From learning how to sell mobiles when mobile phones were still an emerging technology to building Carphone Warehouse into a market leader, Dunstone shares the ideas, decisions and customer-first thinking behind his remarkable career.
Charles explains how he spotted an overlooked opportunity among self-employed customers in the early mobile phone market, and how Carphone Warehouse grew rapidly as demand for mobile phones exploded. He reflects on expanding into broadband with TalkTalk, taking Carphone Warehouse into the US through Best Buy, and why understanding customers and challenging established industries remains central to successful retail.
The episode also explores:
How to spot opportunities in rapidly emerging markets
How Carphone Warehouse changed the way people sell mobiles and buy mobile phones
Why premium retail locations can sometimes be more profitable than cheaper ones
Taking Five Guys from the US to the UK and building it into a major European chain
Using technology and changing consumer behaviour to disrupt established markets
Why businesses need to offer something demonstrably better at a fair price
The future of the high street and the changing role of physical retail
The importance of obsessing over detail and measuring the right KPIs
Dunstone also shares his thoughts on what makes a market worth entering, why entrepreneurs should start with a great idea rather than a grand ambition, and how businesses can build a virtuous circle by winning market share. He discusses his continuing search for new opportunities, from food and fast-casual retail to Purplebricks, and explains why entrepreneurs need to remain relentlessly focused on the customer.
Along the way, he reflects on the lessons from his biggest successes and mistakes, including the dangers of regulatory uncertainty, the importance of keeping businesses efficient, and why he still looks at sales figures every day after more than three decades in retail.
Tune in to hear the story behind some of Britain’s most recognisable retail businesses and discover the principles that took Charles Dunstone from selling mobiles and building Carphone Warehouse to broadband, burgers, estate agencies and beyond.
Follow & Catch Up With Us
Want more from Billionaire Business Podcast? Tap in for exclusive content, behind-the-scenes moments, and everything that doesn’t make it into the mic.
Follow Ian Fishwick:
LinkedIn: https://www.linkedin.com/in/ianfishwick
Email: ian.fishwick@billionairebusiness.net
Follow Chris Godsmark:
LinkedIn: https://www.linkedin.com/in/chrisgodsmark
Email: chris.godsmark@billionairebusiness.net
Follow Billionaire Business:
Website: https://www.www.billionairebusiness.net/
Follow us on LinkedIn: https://www.www.linkedin.com/company/billionaire-business-podcast
Aug 5, 2026
Aug 5, 2026
40 min
From Temp to Billion-Pound Founder: How Mia Drennan Built a Global Business from Scratch
In this episode of Billionaire Business, hosts Ian Fishwick and Chris Godsmark sit down with entrepreneur and GLAS founder Mia Drennan to explore the extraordinary journey behind building a billion-pound business. From starting her career as a temp with no university degree to becoming the sixth woman in the UK to create a billion-pound business, Mia shares the experiences, setbacks and decisions that shaped her path to success.
Mia explains how being passed over for a promised promotion ultimately pushed her to leave corporate life and build her own business and how the power of networking helped her turn professional relationships into entrepreneurial opportunities. She also reveals how she identified an opportunity to disrupt the financial services industry and built GLAS from a small team working out of a basement into a global business operating across ten countries.
The episode also explores:
How to turn a career setback into an entrepreneurial opportunity
Why you can start learning and studying at any point in your life
The importance of networking, relationships and knocking on doors
Building a business from an idea with no existing market model
How GLAS grew by disrupting traditional banking and financial services
Scaling a business while maintaining a strong company culture
Why employee ownership can help build a truly global company
The transition from a traditional financial services business to a technology-led fintech
Supporting female entrepreneurs and encouraging more women to build billion-pound businesses
Mia also shares her ambitions for GLAS’s next chapter, including becoming a major player in the US and using technology, AI and proprietary software to transform the financial services industry. Along the way, she reflects on the lessons she would give her younger self, the importance of retaining control when bringing in outside investment, and why aspiring entrepreneurs have little to lose by taking a chance on their ideas.
Tune in to hear an inspiring story of entrepreneurship and drive and discover the lessons behind Mia Drennan’s journey from temp to founder of a billion-pound global business.
Follow & Catch Up With Us
Want more from Billionaire Business Podcast? Tap in for exclusive content, behind-the-scenes moments, and everything that doesn’t make it into the mic.
Follow Ian Fishwick:
LinkedIn: https://www.linkedin.com/in/ianfishwick
Email: ian.fishwick@billionairebusiness.net
Follow Chris Godsmark:
LinkedIn: linkedin.com/in/chrisgodsmark
Email: chris.godsmark@billionairebusiness.net
Follow Billionaire Business:
Website: www.billionairebusiness.net/
Follow us on LinkedIn: www.linkedin.com/company/billionaire-business-podcast
Jul 22, 2026
Jul 22, 2026
51 min
John Gallagher on The Art of Dealmaking and Building Billion-Dollar Businesses through Relationships
In this episode of Billionaire Business, hosts Ian Fishwick and Chris Godsmark sit down with legendary Irish entrepreneur and investor John Gallagher for a masterclass in dealmaking and entrepreneurship. From building Ireland's largest security business to investing in luxury hotels, telecoms, waste management and real estate, John shares the principles that have helped him succeed across multiple industries.
John explains why great businesses are built around people rather than sectors, how he has consistently identified emerging trends before they become obvious, and why strong relationships have been the foundation of his most successful deals. He also discusses his evolution from fast-moving entrepreneur to disciplined long-term investor and why protecting downside risk is just as important as pursuing growth.
The episode also explores:
Building businesses without significant starting capital
The psychology of successful dealmaking and negotiation
Spotting market trends before everyone else
Why relationships and experienced operators outperform business plans
Creating value in luxury hotels through experience and design
Investing for long-term cash flow rather than short-term gains
The importance of recurring revenue, competitive moats, and low debt
How AI will reshape consulting, professional services, and business operations
The conversation also dives into John's investment philosophy, from buying distressed assets during market disruption to identifying businesses with durable competitive advantages. He explains why recurring revenue, embedded customer relationships, and experienced leadership matter more than flashy technology, and shares his perspective on where artificial intelligence will create the greatest opportunities over the next decade.
Tune in to hear practical lessons on entrepreneurship, negotiation, investing, and leadership from one of Ireland's most accomplished business builders, and discover the timeless principles behind creating enduring businesses across multiple industries.
Follow & Catch Up With Us
Want more from Billionaire Business Podcast? Tap in for exclusive content, behind-the-scenes moments, and everything that doesn’t make it into the mic.
Follow Ian Fishwick:
LinkedIn: linkedin.com/in/ianfishwick
Email: ian.fishwick@billionairebusiness.net
Follow Chris Godsmark:
LinkedIn: linkedin.com/in/chrisgodsmark
Email: chris.godsmark@billionairebusiness.net
Follow Billionaire Business:
Website: www.billionairebusiness.net/
Follow us on LinkedIn: www.linkedin.com/company/billionaire-business-podcast
Jul 8, 2026
Jul 8, 2026
48 min
Modern Private Equity, Using Data, AI, and Operational Expertise to Build Category-Leading Software Businesses
In this episode of Billionaire Business, hosts Ian Fishwick and Chris Godsmark sit down with Nic Humphries, Executive Chairman of Hg, for an in-depth conversation about private equity investing, software entrepreneurship, and the strategies behind building market-leading B2B technology companies.
Nic shares how Hg has built one of Europe's most successful software-focused investment firms by specialising in vertical and geography-specific SaaS businesses. He explains the firm's emphasis on product innovation, significant investment in research and development, and its data-driven approach to portfolio management.
The episode also explores:
Building and scaling vertical SaaS businesses• Identifying attractive niche software markets• Using data and analytics to drive portfolio performance• Supporting management teams to achieve organic growth• The impact of artificial intelligence on the software industry• Hg's Catalyst programme and accelerating AI adoption• Product innovation, R&D investment, and competitive advantage• Leadership, culture, and building resilient software businesses
The episode further explores AI’s transformative role in software. Nic outlines Hg's Catalyst initiative, which assists portfolio companies in integrating AI to refine products, automate operations, and improve customer service. He emphasises the value of elite management, customer diversity, and a culture centered on humility and relentless improvement.
Tune in to hear practical insights and proven strategies for investors, founders, and business leaders looking to build enduring software companies and create long-term value in an increasingly technology-driven world.
Follow & Catch Up With Us
Want more from Billionaire Business Podcast? Tap in for exclusive content, behind-the-scenes moments, and everything that doesn’t make it into the mic.
Follow Ian Fishwick:
LinkedIn: linkenin.com/in/ianfishwick
Email: ian.fishwick@billionairebusiness.net
Follow Chris Godsmark:
LinkedIn: linkedin.com/in/chrisgodsmark
Email: chris.godsmark@billionairebusiness.net
Follow Billionaire Business:
Website: www.billionairebusiness.net/
Follow us on LinkedIn: www.linkedin.com/company/billionaire-business-podcast
Nic Humphries
https://www.linkedin.com/in/nic-humphries?originalSubdomain=uk
To Listen Elsewhere:
Spotify: https://open.spotify.com/show/6PkukxfQeII0JXODSOuM85
Apple Podcasts: Billionaire Business Podcast on Apple Podcasts
Senior Partner and Executive Chair of Hg, a leading investor in European and transatlantic software and services businesses.
Jun 17, 2026
Jun 17, 2026
42 min
This is a true masterclass in building and scaling global financial powerhouses, like Revolut
In this episode of Billionaire Business, hosts Ian Fishwick and Chris Godsmark sit down with Martin Gilbert, Chair of Revolut and co-founder of Aberdeen Asset Management, for an in-depth conversation about leadership, innovation, and what it takes to build and scale world-class financial institutions.
Martin explores Revolut's rapid growth from 5 million to 70 million customers, highlighting strategic global expansion, regulatory navigation, and the integration of artificial intelligence to enhance efficiency for its 10,000 employees. Drawing on his 36-year journey building Aberdeen Asset Management, he also shares insights on scaling through acquisitions and organic growth, emphasizing the importance of transparency, resilience, and maintaining culture during periods of rapid change.
Ian, Chris and Martin explore:
Scaling Revolut into a global fintech leader
Expanding into new markets and navigating regulation
Using AI to transform operations and customer experience
Building and growing Aberdeen Asset Management over decades
Leading through acquisitions, crises, and rapid change
Hiring, culture, and scaling organisations sustainably
The conversation also touches on Revolut’s future, including potential IPO plans and its disciplined approach to financial management, with a strong focus on profitability and long-term stability. Martin reflects candidly on lessons learned from both successes and setbacks, offering practical insight into navigating the complexities of the financial industry and building enduring organisations.
Tune in to hear actionable advice and hard-earned lessons for entrepreneurs, business leaders, and anyone interested in fintech, leadership, and global business growth.
Follow & Catch Up With Us
Want more from Billionaire Business Podcast? Tap in for exclusive content, behind-the-scenes moments, and everything that doesn’t make it into the mic.
Follow Ian Fishwick:
LinkedIn: linkenin.com/in/ianfishwick
Email: ian.fishwick@billionairebusiness.net
Follow Chris Godsmark:
LinkedIn: linkedin.com/in/chrisgodsmark
Email: chris.godsmark@billionairebusiness.net
Follow Billionaire Business:
Website: www.billionairebusiness.net/
Follow us on LinkedIn: www.linkedin.com/company/billionaire-business-podcast
Martin Gilbert
https://www.linkedin.com/in/martin-gilbert-936a50130/
Co-founder of Aberdeen Asset Management and Chairman of Revolut
To Listen Elsewhere:
Spotify: https://open.spotify.com/show/6PkukxfQeII0JXODSOuM85
Apple Podcasts: Billionaire Business Podcast on Apple Podcasts
Apr 21, 2026
Apr 21, 2026
26 min
MAXIMISING VALUE: £20Bn+ of M&A deals told us how to do it
In this special episode of Billionaire Business, Chris Godsmark and Ian Fishwick take a deep dive into the factors that drive business valuation, offering a practical guide for entrepreneurs, executives, and investors. Drawing on the experience of overseeing 43 mergers and acquisitions across multiple industries, the conversation is packed with actionable insights, real-world examples, and strategic advice for building companies that attract buyers and investors.
The episode also explores:
Financial fundamentals for strong valuations: recurring revenue, profit margins, and organic growth.
Avoiding pitfalls by tracking customer lifetime value/payback periods.
Market dynamics, industry trends, and competitive landscapes.
The importance of commercial differentiation.
The risks of price competition on profitability and valuation.
M&A best practices: integration, cultural alignment, and team cohesion.
How leadership, culture, and sustainable growth drive valuation.
Throughout the discussion, Chris and Ian emphasise that while numbers matter, it is the combination of strategy, culture, and leadership that truly makes a business attractive to buyers. Listeners come away with a clear framework for increasing their company’s value, improving operational performance, and preparing for successful growth, acquisition, or exit.
So, after reflecting on this episode: how can you strengthen your business fundamentals, retain customers, and build an organisation that stands out in the market?
Follow & Catch Up With Us
Want more from Billionaire Business Podcast? Tap in for exclusive content, behind-the-scenes moments, and everything that doesn’t make it into the mic.
Follow Ian Fishwick:
LinkedIn: linkenin.com/in/ianfishwick
Email: ian.fishwick@billionairebusiness.net
Follow Chris Godsmark:
LinkedIn: linkedin.com/in/chrisgodsmark
Email: chris.godsmark@billionairebusiness.net
Follow Billionaire Business:
Website: www.billionairebusiness.net/
Follow us on LinkedIn: www.linkedin.com/company/billionaire-business-podcast
Apr 7, 2026
Apr 7, 2026
39 min
Private Equity Explained: What Investors Really Look For
In this episode of Billionaire Business, Chris Godsmark and Ian Fishwick sit down with Jamie Roberts, managing partner at YFM Equity Partners. The three help dissect private equity, breaking down the core strategies, motivations, and metrics for successful deals.
Jamie breaks down YFM’s distinctive approach to private equity, explaining how the firm partners with ambitious UK-based businesses that have strong management teams and clear growth potential. Rather than relying on aggressive cost-cutting or financial engineering, YFM focuses on long-term value creation by supporting founders and leadership teams who are committed to scaling their businesses sustainably.
The episode also explores:
How YFM sources and evaluates private equity investment opportunities
What investors really look for during due diligence
Why leadership quality and vision matter more than numbers alone
How private equity firms add value beyond capital
The role of emotional intelligence, trust, and communication in successful partnerships
Jamie also shares practical advice for entrepreneurs considering private equity, including how to pitch effectively, prepare for due diligence, and align expectations with potential investors. He explains the importance of transparency, openness to challenge, and choosing the right partner for the long term.
Tune in to hear a clear, insider’s perspective on private equity and discover how the right investment partner can accelerate growth, professionalise a business, and act as a true catalyst for long-term success.
Follow & Catch Up With Us
Want more from Billionaire Business Podcast? Tap in for exclusive content, behind-the-scenes moments, and everything that doesn’t make it into the mic.
Follow Ian Fishwick:
LinkedIn: linkenin.com/in/ianfishwick
Email: ian.fishwick@billionairebusiness.net
Follow Chris Godsmark:
LinkedIn: linkedin.com/in/chrisgodsmark
Email: chris.godsmark@billionairebusiness.net
Follow Billionaire Business:
Website: www.billionairebusiness.net/
Follow us on LinkedIn: www.linkedin.com/company/billionaire-business-podcast
Jamie Roberts
https://www.linkedin.com/in/jamie-roberts
Managing Partner at YFM, passionate about social mobility, volunteering with a charity that helps young people explore career options beyond their existing networks.
Mar 24, 2026
Mar 24, 2026
40 min
BGF has invested nearly £5 billion in minority stakes in small businesses.
In this episode of Billionaire Business, Chris Godsmark and Ian Fishwick sit down with Andy Gregory, Chief Executive of BGF, alongside corporate finance expert Chris Godsmark, to explore the evolving landscape of growth funding in the UK.
Andy explains BGF’s distinctive model of providing minority, patient capital - allowing founders to retain control while accelerating expansion. Unlike traditional private equity, BGF focuses on long-term partnerships rather than quick exits, backing ambitious SMEs with capital designed to support sustainable growth.
The episode also explores:
How BGF’s minority investment model empowers founders
The difference between patient capital and traditional private equity
Deploying over £5bn into 500+ UK businesses
Supporting female-led companies and driving diversity
The wider economic impact of growth funding across UK regions
The conversation also examines the realities of raising capital in uncertain markets, with practical insights on choosing the right funding partner and building resilience for long-term success.
Tune in to discover how BGF has become one of the UK’s most influential growth investors and what founders should consider when seeking capital to scale.
Follow & Catch Up With Us
Want more from Billionaire Business Podcast? Tap in for exclusive content, behind-the-scenes moments, and everything that doesn’t make it into the mic.
Follow Ian Fishwick:
LinkedIn: linkenin.com/in/ianfishwick
Email: ian.fishwick@billionairebusiness.net
Follow Chris Godsmark:
LinkedIn: linkedin.com/in/chrisgodsmark
Email: chris.godsmark@billionairebusiness.net
Follow Billionaire Business:
Website: www.billionairebusiness.net/
Follow us on LinkedIn: www.linkedin.com/company/billionaire-business-podcast
Andy Gregory:
https://www.linkedin.com/in/andy-gregory-1662431/
Chief Executive of BGF, Chair of BGF Foundation
Mar 10, 2026
Mar 10, 2026
46 min
This is a true trailblazer - she didn’t just smash the glass-ceiling in the City for women, she dismantled it forever
In this episode of Billionaire Business, Chris Godsmark and Ian Fishwick sit down with Sam Smith, former CEO of FinnCap, to learn how she became the first female founder and CEO of a London Stockbrokers.
Sam shares how she acquired FinnCap when few saw its potential and strategically repositioned it to become the UK’s leading small and mid-cap advisor. By focusing on underserved SMEs often overlooked by larger institutions, she carved out a powerful niche and built long-term market influence.
Ian and Chris explore:
Turning around and scaling a financial services firm
Building a people-first culture during growth and change
Leading through the 2008 financial crisis and Brexit uncertainty
Managing acquisitions and making tough redundancy decisions
Balancing empathy with commercial reality
After she stood down from FinnCAP Cavendish, Sam realised that she was one of only 80 women in the UK to have created a business with over £50 million revenue - what she calls a ‘super scaler’ - a number that is way too low. She discusses her new venture, The Super Scalers, which supports underrepresented founders in accessing capital, mentorship, and growth opportunities.
Sam also reflects on the personal side of leadership; confronting fear, overcoming self-doubt, and developing resilience under pressure.
Tune in to hear practical lessons on clarity of mission, inclusive leadership, and scaling with conviction — even when the odds are against you.
Follow & Catch Up With Us
Want more from Billionaire Business Podcast? Tap in for exclusive content, behind-the-scenes moments, and everything that doesn’t make it into the mic.
Follow Ian Fishwick:
LinkedIn: linkenin.com/in/ianfishwick
Email: ian.fishwick@billionairebusiness.net
Follow Chris Godsmark:
LinkedIn: linkedin.com/in/chrisgodsmark
Email: chris.godsmark@billionairebusiness.net
Follow Billionaire Business:
Website: www.billionairebusiness.net/
Follow us on LinkedIn: www.linkedin.com/company/billionaire-business-podcast
Sam Smith
https://www.linkedin.com/in/sam-smith-01974918/
Serial Entrepreneur, Superscaler & Former CEO of FinCap,