In this episode of The Business Behind Your Business, host Paul Sweeney welcomes turnaround expert and entrepreneur Mike Dunlop, who has successfully revived over 34 struggling businesses. Mike shares his journey from arriving in America with just $300 to building and restoring multi-million-dollar companies. He dives into the key elements of business turnarounds, emphasizing strong leadership, a positive company culture, and strategic decision-making.

Listeners will learn:

  • Why leadership is the number one factor in business success
  • How to foster an engaged, motivated team that sticks around
  • The psychological aspects of turnarounds, beyond just financial restructuring
  • Why a business owner must confront brutal financial realities to move forward
  • The importance of vision, confidence, and communication in guiding a business to success

Mike’s insights, drawn from decades of experience, challenge common excuses and provide actionable strategies for business owners looking to thrive in any economic climate. Whether you’re facing challenges or simply looking to build a stronger business, this episode is packed with invaluable wisdom.

Mike Dunlop has helped to restore 34 companies in various stages of financial demise back to profitability. He has worked in the aerospace sector for over four decades and has built a number of aerospace component manufacturing companies, both in Europe and the United States.

The largest company he founded is QPM Aerospace, which grew to $30 million in sales in the first ten years. Dunlop designed and founded Net-Inspect, the most widely used aerospace quality-management system in the world. Dunlop has lived in Seattle, Washington, since he moved to the United States from the United Kingdom in 1973.

He is a holder of four US Patents and has been passionate about airplanes since his first flight on a Vickers Viscount in 1955 at the age of seven.

Dunlop is an experienced public speaker, and he’s offering his wisdom and stories on his weekly podcast, available on Spotify and YouTube.

Check out Mike’s book, blog and podcast here:  The Art of the Turnaround: A Comprehensive 10-Step Guide