CRAP - Jonathan Leafe's Blueprint for a Resilient Business Exit

Resilience defines successful entrepreneurs – the ability to adapt, persist through setbacks, and build sustainable paths forward. Jonathan Leafe, co-founder of For Entrepreneurs Only (FEO) and former leader of Hull-based design agency Strawberry, embodies this through his strategic exit from business ownership. His approach, shared openly with FEO peers, inspired fellow FEO member James Chandler to launch End Game(s) – proving how one founder's foresight can spark the next generation's success.

The Endgame Mindset

Now, Jonathan’s consulting work reveals a common blind spot among business owners: treating their business as a sellable asset without planning the handover. “The first question I always ask is: ‘What are you going to do when it’s all finished? What’s your endgame?’” In agency land — where value lies in clients, team, and the founder’s personal touch — outright sales often fail. Clients flee under new management; teams loyal to the founder depart.

His solution? Step back for a longer horizon. Spotting Dom and James as successors early, Jonathan set a 10-year timeline. "I brought them into the business, and they bought some shares from me at a very fair value... We planned that in 10 years' time, they’d take this business over from me."This made them owners, sharing in his success while he built parallel wealth.

Three Buckets of Wealth

Central to Jonathan's resilience was financial engineering. He maximised pension contributions – non-taxable "Bucket 1" – while retaining majority shareholder profits in "Bucket 2" (tax-deferred via the company) and leaving reinvestable funds in "Bucket 3" (business cash for later extraction). "Keep as much on the non-taxable side as you possibly can, until you need to move it over the wall," he explains.

Eight years in, the plan executed smoothly. Jonathan was reduced to 2-3 days weekly for six months, mentoring from the sidelines. The transaction followed: company cash extracted at just 10% tax (pre-rate changes), pension nearly fully funded. 

“I was really set up," he says. Strawberry thrived under new leadership; Jonathan pivoted to high-impact consulting at 2 days/week – "20 times better than I thought it was going to go."

This "buckets" model, explained simply to James Chandler, became one of the four End Game(s) Strategies' core teaching. James uses it to guide entrepreneurs in visualising wealth streams separately from business fate, thereby de-risking the exit.

Lessons from Strawberry's Evolution

Strawberry's story underscores adaptability. Starting pre-digital in 1989 – Jonathan at 26, self-taught on his first computer – it pioneered digital design: Hull City AFC's first digital programme (1990), early websites (1996), custom e-commerce (2000). "We were building quite complex websites on dial-up," he laughs.

Facing print commoditisation, Jonathan knew it wasn’t going to last, so he pivoted, doubling down on digital, social media ("online PR" to sceptical clients), and retainers transformed the model. Inspired by FEO peer Andrew Horncastle’s "collecting rent" insight, Strawberry shifted to long-tail clients. From £1m turnover, it hit £2m prime within three years – now a book-worthy concept: I'm an Agency Owner, Get Me Out of Here.

Resilience Forged Early

Jonathan's grit traces to his youth. Leaving Hymers College at 16 with four O-levels, he joined the family ship-broking business, briefly, before music intervened. Auditioning for Hull's top band, The Odds, led to his debut gig for 1,000 people. Touring in a "transit van that should have died 10 years before," playing Marquee Club and Hammersmith Odeon with punk legends like The Damned, built unbreakable resilience. "You travel 6 hours... turn up hungry... play well for your bandmates... drive home." Bandmate Stuart Matthewman later co-founded Sade, a Hull export to global stardom.

While peers studied A-levels, Jonathan toured Sweden. "Fantastic grounding... You feel pretty well equipped to deal with most things." Now a Hymers’ governor advising the school – "the ultimate irony" – he sees founder traits within the FEO membership: late developers, few qualifications from school, chip-on-shoulder drive, freer thinking unbound by degrees.

CRAP: The Entrepreneur's Superpower

Distilling decades of experience, Jonathan offers CRAP: Confidence, Resilience, Attitude, and Persistence. "If you're really CRAP, then you will always be okay." Confidence to sell eye-to-eye; resilience when deals sour; attitude to pivot; persistence past hurdles.

AI, Cycles, and the Long View

"Everything goes in cycles. Agencies face AI and my advice is to double down on client relationships... Lead them, rather than be an order taker.” Tech cycles mirror past shifts: fixed-width sites to mobile; print to web.

Jonathan’s non-exec board roles leverage finance acumen, spotting operational wins. Clients span from Newcastle to London, and after 2-3 months, their new strategy rolls out, and he provides ongoing mentoring for founders.

Life Beyond the Grind

Jonathan's resilience shines beyond business, too. A passionate wine enthusiast, he recently savoured South America's finest vineyards across Argentina, Uruguay, and Chile – enjoying "t-shirt weather at 30 degrees" on an unforgettable grand tour.

Post-exit, he's relishing true freedom: a structured handover that secures Strawberry's future and a thriving consulting practice that's exceeded all expectations. His blueprint continues to inspire through End Game(s) – empowering more founders to craft their own resilient, rewarding endgames.

For more on FEO programmes like End Game(s)  Strategies, visit FEO.