The Difference Between Growing and Scaling | Driving Up Your Valuation

Today on the podcast, Matt sits down for a chat with guest Matt Morley. Matt has an eye for numbers, a head for strategy, and a keen ability to marry clients’ future goals with current business reality. At Pendleton Street Business Advisors, he lends his analytical gifts and thoughtful processes to all aspects of clients’ personal and company finances. As the firm’s Chief Investment Officer, his responsibilities include business analysis, investment research, and coordinating work-product for client engagements. ____________________________ Ways we can help you: -> Want to grow your payroll company? Click here. -> Looking for easy-to-use White Label HR Software? Click here. -> Want to sell your payroll business or make a partial exit? Click here. -> Want to grow your personal brand on LinkedIn? Click here. ____________________________ *Are you enjoying Payrollin'? Please subscribe and rate us five stars on your player of choice. It helps us continue to improve. *Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://anchor.fm/payrollin/message *Support the pod by spreading the word, become a referrer and earn free Guhroo swag here: https://refer.fm/payrollingrowingapayrollbusinessthatmatters ____________________________ Show Notes: 0:37 What are some of the things that business owners do that devalue their business? 2:43 When is the right time to start adding services for your business? 4:54 "I think the bigger challenge is cutting something lose that is not working because we all want to be right..." - Matt Morley 6:46 What's the difference between growth and scale? 6:49 "In order to scale you have to grow but just because you're growing doesn't mean you are scaling." - Matt Morley 12:58 Is there any inflection point from headcount or maturity perspective we start to see less reliance on ownership or key players? 15:42 Why is it important for business owners to know their own numbers? 23:36 "If you're growing your business's value intentionally by addressing risk and opportunities that can add value a lot of times a buyer you never expected will come around" - Matt Morley 27:39 What niche are people not actually talking about enough? 33:35 Will it increases the value of your business or will it be a distraction? 38:35 "There are a million right answers. You just have to pick one and run with it." - Matt Vaadi 45:29 Business value is not just about dollars. Who is Matt Morley? Matthew Morley is a financial advisor based out of Columbia, South Carolina, who has been in the financial industry for 12 years. Morley is an advisor for Pendleton Street Advisors, LLC. During their career, Morley has held roles at Whm Capital Advisors, LLC and Pendleton Street Advisors, LLC. Morley has a Series 65 license, which qualifies them as an investment advisor representative, and can work in North Carolina, South Carolina, and Virginia. Prior to co-founding Pendleton Street Business Advisors with John Barnes in 2013, Matt served as the Chief Investment Officer of WHM Capital Advisors, LLC. A graduate of the University of South Carolina, he is a Certified Valuation Analyst, Certified Exit Planning Advisor, and he has completed the FINRA Series 65 Uniform Investment Adviser Law Exam in o