MICHAEL AND FRAN’S BUSINESS CAREERS
While Michael (along with his wife, Fran) beleive their clients development, and their achievements, are far more important than what they and their business partners have done, he realises though that most people want to know a little about their prior business life. For this reason a summary is below.
Michael and Fran Mallon started their business careers in 1994 as small business owners in partnership with another couple. Michael and Fran had a young family and were only 24 years old at the time.
Upon conducting a review after 4 years of owning the business, it was evident the business was surviving rather than thriving. In addition, the partners were producing the clear majority of the income into the business and they had very little free time.
The partners realised that to succeed in, and grow their business, they needed to increase their business management skills, improve their cash flow, and streamline their systems. They focused their attention on self-education, through attending workshops and seminars, reading as much information as possible and most importantly learning from both mistakes and successes of other thriving businesses. They worked hard to implement new strategies and streamline their systems, and externally they increased their community profile and built a reputation for offering the best service in the region. In 2004, Michael and Fran purchased their partners’ share of the business. They continued to operate the business using the strategies and systems that had been so successful for them. For the next 6 years their business continued to thrive.
The reward for their effort saw this fledgling business from 1998 to 2010:
– grow from 5 to 22 staff
– increase its turnover nearly twentyfold
– merge with a smaller business which brought on a successful minority shareholder
– increase their office’s ranking within their national group network from 184th to be consistently in the top 10 for the final seven years of ownership
– achieve a ‘repeat and referral business’ rate exceeding 80% in later years – well exceeding the industry ‘goal’ rate of 65%; and
– become the recipient of numerous coveted business and industry Awards for Excellence and service
On three separate occasions during 2010 Michael was approached by a business agent on behalf of a party wanting to purchase the business. Michael and Fran had no intention of selling and on each occasion declined the offer. However, after being approached a fourth time and being offered around 1500% above the estimated value of the business in 1998, Michael and Fran decided that being financially independent, being able to travel and being in a position to take their accumulated knowledge and move in a new career direction was a great reward for all their effort over the years, and so the business was sold.
While travelling around Australia for five months after selling their first business, Michael looked back at his time as a business owners and realised that the greatest enjoyment came from overcoming the many business challenges, supporting and guiding employees to enjoy personal growth and professional success, and the sharing of great ideas with like-minded people. On their return, both Michael and Fran started new business ventures.
Michael’s commenced a consultancy and coaching business, to assist clients to grow their businesses, increase their profits and enjoy real success in their industries. Many of his clients have become the fastest growing, most profitable, and highly regarded businesses in their areas.
Michael was already a Professional Certified Coach through the International Coaching Federation, but went on then to become an accredited Trainer and Assessor, and an accredited MBTI® Assessor.
Fran was an accredited tour operator. For three years, Fran operated a successful boutique tour business in the Canberra region. The business was a multiple ‘small business award winner’ and Fran built a reputation for providing amazing customer service. During this period, she also became an accredited Trainer and Assessor, and a certified coach. Fran sold the touring business in 2016 so that she could focus her time on working together with Michael, and now focuses on developing the “back-end” of the coaching business.
Michael and Fran are aware that most people go into business to achieve financial success and to enjoy a better lifestyle. They also understand only too well that what people often find is stress, long hours, and dissatisfaction. With more than 25 years of experience in business development, research, implementation and overcoming their own business challenges, Michael and Fran offer you their expertise, experience, coaching and training skills, and their proven ability to successfully implement changes that will support your business to experience real growth and sustainability.
Knowing what they now know, Michael and Fran are confident they could have achieved the same success in their original business, in the same circumstances, in a much shorter time frame. They are now assisting other business owners and their teams to achieve rapid success by providing those business owners with assistance across all areas of business. Having the options of coaching, consulting or training gives them the flexibility to provide relevant services to various small and medium businesses at many stages of the businesses growth and development. Michael would welcome the opportunity to meet with you (obligation free) to discuss how Canberra Business Coaching, Consulting and Training can assist you achieve your business goals more quickly and more easily.