Beautiful Print: How Michael Tyrell grew his business

"As an entrepreneur and businessman, you are always looking for ways to improve your business. I was introduced to Futrli when they were in the process of developing their software and website. It wasn't long before I realised that this technology would be a great addition to my current business strategy."

Futrli is a business that helps entrepreneurs grow their business. We have helped Michael Tyrell, the founder of Beautiful Print, achieve his goals and results for his business.

This blog is about how we helped Michael Tyrell, the founder of Beautiful Print. The business was launched in 2011 but it has already scaled up fast with larger premises currently under construction. We chatted to Michael to find out how Futrli has helped him grow his business. This blog will look at two core areas where he really stands out: firstly they are powered by some of the smartest equipment in the industry; secondly, the team has heaps of enthusiasm for delivering quality products and service.

Challenge

Beautiful Print has experienced exponential growth in recent years. Their team of just six staff are producing an impressive amount of work. Owner Michael Tyrell needed to secure funding to invest in new machinery and cope with the demand for orders. The company needed a plan for the coming five years, which could show them how many customers they’d need to win to make their investment sound. As they also wanted to continue growing, it was important to find software that could help them visualise their progress and success in real-time.

Solution

Signing up with Futrli, and making use of our in-house management accountants, Michael was able to gain insight into where the business stood. Adding forecasting to the mix allowed the whole team to see where they needed to be in a specific timeframe. With the whole company working together towards the same goals, the prospect of funding became more achievable.

The Result

The level of insight achieved by Futrli has enabled the team to win £350k of funding. Michael ran different scenarios through Futrli’s scenario planner, which allowed him to calculate what was needed before spending their funding. The investment in new machinery has meant Beautiful Print has maintained its position as market-leaders, going on to win bigger clients and keep building on its successes.

How did the business evolve to where is it today?

We worked from home for two years, which was an office in our lounge. Then we got our first unit at the beginning of this year. We got some grants and small business loans, and we bought our first large format printer then. Up until that point, we were outsourcing a lot of our work. We produced about 80% of our print work but we wanted to invest in new equipment too.

Because the business is just over 4 years old, we’ve got a relative turnover for the size of the company, though that wouldn’t have been enough on its own to help us grow. We looked at different ways of doing the business plan and I have a business coach I use. He recommended I spoke to someone that could help with making the business plans. We then obviously needed the financial data to back that up, which is where Futrli came in.

What are your goals for business growth?

We want to be an established print company in Australia. To do this we need bigger premises, more staff and new equipment that will help us produce our product cheaper.

What was your Growth Strategy for the business evolve to where is it today?

We worked from home for two years, which was an office in our lounge which was a small location. Then we got our first unit at the beginning of this year. We got some grants and small business loans, and we bought our first large format printer then. Up until that point, we were outsourcing a lot of our work. We produced about 80% of our print work but we wanted to invest in new equipment too.

Because the business is just over 4 years old, we’ve got a relative turnover for the size of the company, though that wouldn’t have been enough on its own help us grow. We looked at different ways of doing the business plan and I have a business coach I use. He recommended I spoke to someone that could help with making the business plans. We then obviously needed the financial data to back that up, which is where Futrli came in.

Due to business growth, you secured £350k funding. How was the experience for you?

We wouldn’t have been successful if we did it on our own! The team is proactive and listens to our concerns. What we had was perfect, but with the expertise, Futrli helped us make our company even better.

Were you in the driving seat with decisions for business growth?

Yes. We tried to calculate how the different breakdowns of that scenario would work, which would allow us funding for our machines in the future and we narrowed it down to coming up with an increased profit from our current clientele with a new plan marketing campaign and content.

We’re getting such great results within the company, it is only a matter of time before we need to start thinking about how not to overwhelm the business. We have been trying to think ahead and make sure that there are opportunities for our team as well as ensure flexibility in the future so you can grow with us.

How did you find exploring the what-if scenarios in the businesses?

To summarize, we could see how each scenario would affect my business. We could drill down into the profit levels and word out the general impact they’d have on my bank account. It was easy to understand with Futrli's great dashboard interface and great content, which broke everything down for me in no time at all.

What’s the vision long-term of business growth for the business?

The team has a number of high-end skillsets, including exhibition design, agency work and retail. We think this is possible due to the uptake of our work from new machines.

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