Nexus IT and Communications Solutions, an IT consultancy firm established in 1997, has scaled the business down to one staff member, Sean Murphy.
Murphy, the company's managing director, told ARN that the decision followed a very difficult time in his personal life, with the move billed as a lifestyle decision.
In Murphy's words he "virtualised his business" in order to fit to his taste and preferences.
Nexus IT provides consulting assignments, integration projects, infrastructure provision, overflow engineering, professional services, IT outsourcing and managed services.
At the end of 2017, Murphy positioned the business ready for sale. The company landed a good deal around that time which fell through in early 2018, that was when Murphy decided to push forward with the sale.
Murphy, who joined the company in 1998, becoming the managing director and shareholder later, decided that after 20 years with the business it was time to take a break.
Murphy explained that selling the business as a whole wasn't going to bring the best outcome so he decided to do it in parts.
"The first step was to sell a bunch of contracts to one of my competitors, the contractual stuff that was sellable. Then I transferred my ad hoc and house customers to The Missing Link – they are a very high quality organisation so my long-term customers, many of who have become friends throughout the years, had continuity," Murphy told ARN.
The final part is the continuity of Nexus IT. Murphy said that there is no administration in place and all bills are paid.
"I have a couple of things going on as a virtual CIO, and I am still doing a bit of reselling, certification and qualifications," he said.
"Due to our capability and reputation, and after several years of friendship with Sean, Nexus partnered with The Missing Link to move their customers over to be managed by us. Nexus had a great bunch of people and very happy clients that we look forward to managing moving forward," The Missing Link CEO Alex Gambotto told ARN.
"We have been onboarding some staff and clients over the last month and continue to work closely with Sean to ensure it’s a positive experience for clients."
Murphy said he was not committed to take on new customers and, while there were enough customers to keep the business going, he thought releasing the staff would bring them the best outcome.
The change also allows Murphy to work as much as he wants to. He told ARN that he went from 50 to 60 hours a week to six to 10, which allows him to dedicate his time to other ventures such as CompTIA, where he is part of its Australia and New Zealand Executive Council.
"It was a lifestyle change for me," Murphy said. "Nexus allowed me to get a house in Sydney and educate the kids, so it’s been good to me.
"A critical part of Nexus success was the account director, Jodie Dowling, who is the most technical account manager I have ever seen and worked tirelessly for clients, which allowed me the time and space to deal with some personal matter in the latter years”.
Murphy also praised all the staff who were, in his words, "outstanding".
"We are envious of Sean’s new 6-10 hour week and look forward to many more years of working with his new virtualised business," Gambotto said.