In this edition of Confessions of an Entrepreneur, RG Partner and Head of Corporate Finance, Carl Swansbury, sat down with Gary Goldsmith – entrepreneur, advisor, and former S3 board member – to explore the journey from humble beginnings to a £30 million exit. Raised in a working-class family under the Heathrow flight path, Gary’s early life was shaped by resilience, hard work, and a desire to prove himself. From dreaming of becoming a professional tennis player to building one of the UK’s most successful recruitment businesses, Gary’s story is one of transformation, tenacity, and unapologetic ambition.
This article reflects on the six key themes from their conversation, including how to build high-performing boards, scale with purpose, lead with authenticity, and prepare for an exit. Each section is supported by Gary’s candid insights and Carl’s reflections from the perspective of a corporate finance advisor. It concludes with actionable takeaways and a summary of how RG Corporate Finance can support founders in the human capital sector.
Building Boards and Backing Talent: The Real Engine of Growth
Gary believes that people – not products or processes – are the true engine of growth. At S3, he built a board of high-performers who didn’t fit the traditional mould but delivered exceptional results. He empowered them with equity, autonomy and a mission, creating a culture of ownership and entrepreneurialism.
“We didn’t just hire recruiters – we built entrepreneurs.”
“If you want to build something big, you’ve got to let go – and back your people.”
At RG, we don’t just advise on incentive schemes – we help founders build the right leadership infrastructure to scale. Through our extensive network of experienced non-executive directors, board chairs, and sector-specialist advisors, we connect clients with the right people to strengthen their boards, challenge their thinking, and unlock growth.
Carl believes that “the right board can transform a business. It’s not just about governance – it’s about unlocking strategic thinking and creating accountability. If you want to scale, you need to incentivise your top performers and build a leadership team that can grow with the business.”
From Operator to Architect: Building Value Through Bold Moves
Gary’s early career was defined by relentless ambition. He didn’t wait for permission – he created momentum. At S3, he transformed his career from a marginal role into leading a contract division that scaled to £250 million in six years.
“I got in at 6am, nicked all the perm jobs, and flipped them into contracts.”
“I knew if I could get to 50 contractors fast, I’d be untouchable.”
Founders like Gary move fast and think big. At RG, we help channel that boldness into structured growth – ensuring that every move is backed by data, strategy, and financial clarity.
Carl agreed, and noted that RGCF “often act as a sounding board for bold decisions – helping clients weigh risk and reward while keeping their long-term goals in focus.”
Leadership, Culture, and Legacy
Gary’s leadership philosophy is rooted in belief, repetition, and authenticity. He believes in saying the dream out loud – every day – until others believe it too. His legacy isn’t just financial – it’s the careers he’s helped shape.
“Say your dream a thousand times a day, a thousand days a year.”
“I want to be the face that launched 100 careers.”
Culture and leadership are critical to enterprise value. At RG, we help founders articulate their culture, build scalable leadership teams, and prepare for succession – ensuring the business is attractive to buyers and sustainable post-exit.
Carl emphasised that “when buyers look at a business, they’re buying the leadership team as much as the numbers. That’s why we focus on succession planning and team development early in the journey.”
And added “communicate your vision clearly and consistently. It’s how you build belief and alignment across the business.”
Lessons from Advising 300+ Recruitment Businesses
Having advised hundreds of recruitment businesses, Gary has identified three traits that separate the best founders: they listen to learn, they don’t rush into leadership, and they inspire others to follow.
“Too many founders start businesses before they’ve managed a team. Learn on someone else’s salary first.”
“Ego kills growth. If you’re not willing to learn from others, you’ll slow yourself down.”
We often help founders transition from ‘doers’ to ‘leaders’. That includes mentoring, succession planning, and aligning incentives across the leadership team. Our advisory goes beyond the transaction – we help founders build businesses that can thrive without them.
From experience, Carl recalled that “the best founders I work with are those who are coachable, self-aware, and willing to surround themselves with people who challenge them.”
Resilience and Reputation: Standing Tall When the Headlines Hit
Gary has faced intense public scrutiny, but he’s never let it define him. His resilience comes from self-awareness, humour, and a refusal to conform.
“I’ve been on the front page of CNN. What’s worse than that?”
“I didn’t lose a friend. I didn’t lose a client. That tells you everything.”
Reputation is a strategic asset – especially in founder-led businesses. At RG, we help clients prepare for scrutiny from investors, acquirers, and due diligence providers. Through our experience and full-service offering, we support founders in preparing for a sale event from the very beginning, ensuring that there are no surprises during due diligence.
Carl empathised, saying that RGCF have “supported clients through sensitive issues, helping them protect their legacy and maintain trust with stakeholders.”
And added “reputation isn’t just about avoiding risk. It’s about standing for something.”
The Role of Corporate Finance in the Journey
Gary believes the right advisor doesn’t just crunch numbers – they understand the people, the sector, and the journey. He credits strong advisory relationships with helping him see the bigger picture and prepare for each stage of growth.
“The right advisor helps you challenge your thinking and prepare for what’s next.”
At RG, we’re not just dealmakers – we’re long-term partners. Our sector knowledge means we can anticipate challenges before they arise and bring solutions grounded in real-world experience.
Carl agreed, and believes that RGCF advisors are “not just here for the deal – we’re here for the journey. That means helping founders think long-term, challenge assumptions, and stay focused on what really matters.”
And added that at RGCF, “We help founders think strategically, not just financially. That’s what makes the difference in the long run.”
Key Takeaways
– Great businesses are built by backing great people.
– Bold moves require structure and strategic clarity.
– Culture and leadership are critical to long-term value.
– Founders must evolve from operators to leaders.
– Reputation is earned through consistency and resilience.
– The right advisor is a long-term partner, not just a dealmaker.
How RG Supports Founders in the Human Capital Sector
Gary’s journey is a powerful reminder that success is built on resilience, clarity of vision, and the right support. At RG Corporate Finance, we work with founders across the human capital sector to:
– Scale with purpose: Helping businesses grow sustainably through strategic planning, operational insight, and financial modelling.
– Prepare for exit: Structuring businesses to maximise value and guiding founders through the complexities of M&A, including buyer readiness and due diligence.
– Realise value: Ensuring founders achieve the best possible outcome – financially and personally – when the time is right.
Whether you’re just starting out or preparing for a life-changing exit, RG is here to support your journey.