033: Make Your Business More Valuable with Michael Wark
February 19, 2024
Are you wanting to grow from $1 million to that seemingly elusive $5 million mark? If you’re eager to learn how to scale your business effectively, you’ve come to the right place! This episode offers valuable tips on how you can achieve this goal.
In this episode of More Clients Less Effort, Tim Hyde interviews Michael Wark, a fractional CFO and the founder of Trimline, a system that business owners can use to help them scale profitably.
Michael shares his 3-step Trimline system for sustainable growth from $1 million to $5 million in revenue. It involves fixing your profit margins, managing your cash flow while strategically reinvesting profits for growth, and building real value by systematising processes so the business can run without you.
The clear message is if you want to scale past 1 million, you must move from a founder's mentality to that of a CEO building a commercial enterprise independent of you. This requires understanding the levers that influence business value beyond monthly revenue.
If hitting the ceiling or feeling trapped by your business resonates with you, Michael's insights on shifting perspectives, systemisation, and value creation can help drive the change your business needs to spark sustainable growth.
WHAT YOU’LL DISCOVER IN THIS EPISODE:
Who is Michael Wark? (00:09)
How Michael started out in business (01:57)
What lured Michael into the world of business ownership (04:16)
Why it’s tricky for business owners to pick an accountant/business advisor who is the right fit for them (07:10)
Why small business owners don't focus enough on profitability and how to scale profitably (09:44)
The Founder's Trap (11:17)
Typical goals that business owners want to break through (16:38)
Step 1 of the 3-step Trimline system toward a $5 million business: Fix your margins (17:44)
Step 2 of the 3-step Trimline system toward a $5 million business: Solve the cash crunch and reinvest for growth (22:09)
What is a war chest? (30:09)
Step 3 of the 3-step Trimline system toward a $5 million business : Building real value and systemising (32:40)
What are add backs? (37:39)
Quickfire questions with Michael (41:00)
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Are you wanting to grow from $1 million to that seemingly elusive $5 million mark? If you’re eager to learn how to scale your business effectively, you’ve come to the right place! This episode offers valuable tips on how you can achieve this goal.
In this episode of More Clients Less Effort, Tim Hyde interviews Michael Wark, a fractional CFO and the founder of Trimline, a system that business owners can use to help them scale profitably. Michael shares his 3-step Trimline system for sustainable growth from $1 million to $5 million in revenue. It involves fixing your profit margins, managing your cash flow while strategically reinvesting profits for growth, and building real value by systematising processes so the business can run without you. The clear message is if you want to scale past 1 million, you must move from a founder's mentality to that of a CEO building a commercial enterprise independent of you. This requires understanding the levers that influence business value beyond monthly revenue. If hitting the ceiling or feeling trapped by your business resonates with you, Michael's insights on shifting perspectives, systemisation, and value creation can help drive the change your business needs to spark sustainable growth.
WHAT YOU’LL DISCOVER IN THIS EPISODE:
In this episode of More Clients Less Effort, Tim Hyde interviews Michael Wark, a fractional CFO and the founder of Trimline, a system that business owners can use to help them scale profitably. Michael shares his 3-step Trimline system for sustainable growth from $1 million to $5 million in revenue. It involves fixing your profit margins, managing your cash flow while strategically reinvesting profits for growth, and building real value by systematising processes so the business can run without you. The clear message is if you want to scale past 1 million, you must move from a founder's mentality to that of a CEO building a commercial enterprise independent of you. This requires understanding the levers that influence business value beyond monthly revenue. If hitting the ceiling or feeling trapped by your business resonates with you, Michael's insights on shifting perspectives, systemisation, and value creation can help drive the change your business needs to spark sustainable growth.
WHAT YOU’LL DISCOVER IN THIS EPISODE:
- Who is Michael Wark? (00:09)
- How Michael started out in business (01:57)
- What lured Michael into the world of business ownership (04:16)
- Why it’s tricky for business owners to pick an accountant/business advisor who is the right fit for them (07:10)
- Why small business owners don't focus enough on profitability and how to scale profitably (09:44)
- The Founder's Trap (11:17)
- Typical goals that business owners want to break through (16:38)
- Step 1 of the 3-step Trimline system toward a $5 million business: Fix your margins (17:44)
- Step 2 of the 3-step Trimline system toward a $5 million business: Solve the cash crunch and reinvest for growth (22:09)
- What is a war chest? (30:09)
- Step 3 of the 3-step Trimline system toward a $5 million business : Building real value and systemising (32:40)
- What are add backs? (37:39)
- Quickfire questions with Michael (41:00)
Get in touch with MICHAEL WARK
CONNECT WITH FIND TIM HYDE
- Website: https://winmoreclients.com.au/
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- Instagram: Win More Clients
- LinkedIn: Tim Hyde