Dec 29, 2024
In this episode of Grow a Small Business, host Michael
Denehey interviews Mike
McHenry, founder of Seamless SMSF,
shares his inspiring journey of scaling from a solo venture with
one team member to a thriving business with 50 staff. Based in Gold
Coast, Australia, Seamless SMSF audits over 30,000 funds for 360
firms, emphasizing a people-first culture. Mike reveals key lessons
on building processes, maintaining strong relationships, and
fostering team development. His insights offer valuable takeaways
for entrepreneurs navigating growth.
Why would you wait any longer to start living the lifestyle you
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Michael delves into our guest's startup journey, their perception
of success, industry reconsideration, and the pivotal stress point
during business expansion. They discuss the joys of small business
growth, vital entrepreneurial habits, and strategies for team
building, encompassing wins, blunders, and invaluable advice.
And a snapshot of the final five Grow A Small Business
Questions:
What do you think is the
hardest thing in growing a small business?
Mike McHenry believes the hardest part of growing a small business
is managing people. He emphasizes that while people are the
greatest asset, they can also be the biggest challenge. Success
comes from hiring for cultural fit over skill alone, fostering
trust, and building a supportive and aligned team culture. He
stresses that having the right people who follow effective
processes is essential for delivering outcomes and sustaining
growth.
What's your favourite
business book that has helped you the most?
Mike McHenry's favorite business book is "The E-Myth Revisited" by
Michael Gerber. He appreciates its focus on the importance of
systems and processes in creating scalable and successful
businesses. Mike considers it a foundational read for anyone
starting or running a business, highlighting how it teaches
entrepreneurs to understand their customers deeply and build
businesses that feel personal and supportive.
Are there any great
podcasts or online learning resources you'd recommend to help grow
a small business?
Mike McHenry recommends exploring sales-focused podcasts and
resources like Simon Sinek's insightful YouTube content, which
emphasizes people and leadership challenges in the modern era.
While he doesn’t follow specific podcasts regularly, he values
recommendations from trusted contacts and seeks out learning
opportunities that align with his interests.
What tool or resource
would you recommend to grow a small business?
Mike McHenry highlights culture as the most critical "tool" for
growing a small business. He emphasizes creating a people-first
environment where empathy, respect, and collaboration are central.
Building strong relationships with employees and customers fosters
trust and engagement. Additionally, he recommends developing clear
systems and processes to deliver consistent outcomes. McHenry
advises asking, "What do I want people to say about my business
when I’m not in the room?" and aligning your actions to achieve
that reputation.
What advice would you give
yourself on day one of starting out in business?
Mike McHenry's advice to himself on day one of starting out in
business is: "Don’t panic. It’s going to be okay." He stresses the
importance of staying calm, focusing on the bigger picture, and
forgiving yourself for mistakes, as they are part of the journey.
He encourages new entrepreneurs to approach business as a game,
focus on their intent, and trust that things will work out with
perseverance and a people-first mindset.
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Quotable quotes from our special Grow A Small Business podcast guest:
Success in business starts with giving a genuine care about people and their needs — Mike McHenry
Outstanding culture drives outstanding
results; never compromise on it — Mike McHenry
True business growth happens when you leave your ego at the
door — Mike McHenry