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#355: How Intentional Decision Making Took Mike Spack From a 75% Loss of Revenue to a 7-Figure EBITDA Exit
"What would you do if your revenue dropped 75%? Would you give up or pivot and double down?
Today, we have an awesome conversation with Mike Spack, the founder of SPAC Solutions, a company renowned for its technologies aimed at reducing traffic congestion and fatalities. Despite growing SPAC Solutions into a multimillion-dollar global business, a 75% pandemic-induced revenue drop forced him to make challenging cuts, focusing on the company's most scalable aspects.
In this episode, Mike and I discuss how his strategic and thoughtful decision-making process was crucial for his company's survival, a seven-figure EBITDA, and eventual exit. His approach towards planning involved signing up with the Intentional Growth Academy™ and participating in 1-on-1 coaching calls. During these sessions, Mike really dug into his growth strategies and exit options before choosing a path forward.
Mike ultimately sold his business to an acquisition entrepreneur just a few months ago. He shares with us his play-by-play thought process, and why he made the choices he did along his anything-but-straight-line path to his exit.
Spack's story underlines the power of intentional growth and deliberate decision-making in the face of uncertainty. His story is incredibly valuable for anyone navigating unpredictable business landscapes and wondering what questions they should be asking to eventually achieve their goals and make owning and running the business 'worth it'."
// WATCH THE INTERVIEW ON YOUTUBE: Intentional Growth™ Podcast
What You Will Learn
How Mike started his business off of a 20,000+ follower blog he created - “Mike on Traffic” - while working full time.
How Mike pivoted after a 75% revenue drop during the pandemic.
How Mike focused on the most scalable part of his business to recover and grow.
How Mike was able to create a 7-figure EBITDA business with a few team members and 10 hours a week.
How intentional decision making produced exponential growth for Mike’s business.
How taking the Intentional Growth™ Academy helped Mike become more focused on where he wanted to take his company after the pandemic.
Why Mike believes it’s so important to align your vision, financial targets and potential exit routes when planning for the future of the business.
Mike’s decision making process when considering selling his business even though it was doing really well.
Why Mike felt a little bit of urgency to sell his business.
Why Mike sold his company to an acquisition Entrepreneur.
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By Arkona - Intentional Growth"What would you do if your revenue dropped 75%? Would you give up or pivot and double down?
Today, we have an awesome conversation with Mike Spack, the founder of SPAC Solutions, a company renowned for its technologies aimed at reducing traffic congestion and fatalities. Despite growing SPAC Solutions into a multimillion-dollar global business, a 75% pandemic-induced revenue drop forced him to make challenging cuts, focusing on the company's most scalable aspects.
In this episode, Mike and I discuss how his strategic and thoughtful decision-making process was crucial for his company's survival, a seven-figure EBITDA, and eventual exit. His approach towards planning involved signing up with the Intentional Growth Academy™ and participating in 1-on-1 coaching calls. During these sessions, Mike really dug into his growth strategies and exit options before choosing a path forward.
Mike ultimately sold his business to an acquisition entrepreneur just a few months ago. He shares with us his play-by-play thought process, and why he made the choices he did along his anything-but-straight-line path to his exit.
Spack's story underlines the power of intentional growth and deliberate decision-making in the face of uncertainty. His story is incredibly valuable for anyone navigating unpredictable business landscapes and wondering what questions they should be asking to eventually achieve their goals and make owning and running the business 'worth it'."
// WATCH THE INTERVIEW ON YOUTUBE: Intentional Growth™ Podcast
What You Will Learn
How Mike started his business off of a 20,000+ follower blog he created - “Mike on Traffic” - while working full time.
How Mike pivoted after a 75% revenue drop during the pandemic.
How Mike focused on the most scalable part of his business to recover and grow.
How Mike was able to create a 7-figure EBITDA business with a few team members and 10 hours a week.
How intentional decision making produced exponential growth for Mike’s business.
How taking the Intentional Growth™ Academy helped Mike become more focused on where he wanted to take his company after the pandemic.
Why Mike believes it’s so important to align your vision, financial targets and potential exit routes when planning for the future of the business.
Mike’s decision making process when considering selling his business even though it was doing really well.
Why Mike felt a little bit of urgency to sell his business.
Why Mike sold his company to an acquisition Entrepreneur.
// Sign up for the