The strength of a business depends on the strength of its team. So, to create a successful business, entrepreneurs must invest the right resources to empower their people. Patrick Hayes understood this, and it was one of his driving forces in setting up Mukala Partners, a consulting firm for leaders and organizations.
In this interview, Hayes shares how he started the business, grew it to its current level, and maintains short- and long-term plans for scaling up.
How Did You Become an Entrepreneur?
I have always wanted to build a business—I just did not know what. In 2018, the small consulting firm I was working for fell apart, and I saw two options—go work for a client or start my own thing. I chose the latter because I wanted to take a bet on myself. I’m so thankful I took that path and founded Mukala in February 2019.
What Have Been Your Greatest Challenges and Successes in Business?
If I had to list my greatest successes, they would be getting the business off the ground on my own, growing the revenue by an average of 20% every year, hiring two amazing people, building great client relationships that have led to referrals and repeat business, implementing the Traction EOS, and solidifying our initial vision and growth plans.
On the other hand, one of the biggest challenges I have faced is transitioning from being the primary producer to being the CEO—both in terms of how I spend my time as well as learning how to do the job of a CEO. Other challenges include:
Coming to terms with my own limitations and learning how to design around those
Getting clear on what I am trying to build and why
Figuring out the types of hires I need to make to grow the business
Understanding the hiring mistakes I’ve made at different stages of the business
How Do You Network With Other Entrepreneurs?
Joining EO is a big part of my effort to network. I also have a group of friends from business school who have all started their own businesses.
Who Have Been Your Strongest Mentors?
I have received great advice from two relatives who founded very successful businesses. I am on the hunt for more mentors.
Why EO Boston?
Building a business can be lonely, and this is my first time trying to do it. I joined EO Boston to build a support network and learn. So far, it has been awesome getting to know people in the community, learning about their businesses, and connecting on a personal level.
What’s on the Horizon for You?
I’m on a mission to live a full life. My business is a vehicle for me to do that; I want to feel a strong sense of purpose for what we do, be challenged to grow as a leader, and generate wealth. In service of that mission, I’m trying to learn how to build a better business.
For me right now, this means I get to work on things I’m uniquely capable of doing and want to do. I have freedom and flexibility with my time both inside and outside of work, and the business generates more profit each year on the way to an eventual sale.
Some of the goals I have lined up include:
A couple of key hires to enable me to transition out of delivering client work and into the CEO role
Refining our strategy and growth plans to position us well in an evolving market
Landing some larger clients where we can have visibility into multi-year engagements
What’s the Best Piece of Advice You Can Give Up-And-Coming Entrepreneurs?
Know yourself and design around that. Pay close attention to what you do well and enjoy doing versus what you don’t do well (or at all) and don’t enjoy doing. Give yourself permission to design around yourself so that everything in the business that needs to get done gets done and you’re spending your time and energy on the things you want to be doing.
What Do You Have to Say to the EO Boston Team?
Thank you for asking me to pull this together. It was a good exercise! I’m excited for my EO journey ahead!
Grow With Us
EO Boston is home to several business leaders in Boston and Massachusetts at large. As the leading entrepreneur network in the city, we’ve created a platform that has helped young entrepreneurs establish mentorship and connections.
In the same vein, seasoned business owners leverage our network as an avenue to grow, expand their business, seal better deals, and form long-lasting partnerships. Without a doubt, EO Boston is where you need to be to experience exponential growth. See if you qualify for our membership.
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