All entrepreneurs can attest to several business challenges that are common among everyone who ventures into something. Those who are brave enough to face these challenges head-on become the fortunate ones who make it. Those who give up too soon lose the many opportunities that lie ahead of them, and Australian entrepreneur Michael Fenech could not be any happier that he chose to press on amidst the most difficult times of his journey as an entrepreneur. Today, he is one of the biggest names in the startup industry, but not without any life-changing stories that will inspire any aspiring entrepreneur.
“There have been lots of hard times during my journey. It’s part of being an entrepreneur. Some of the most challenging times, during the growth of our tech company, came from having cash flow struggles,” Michael revealed in an interview. “Like all startups would know, especially if you’re pre-revenue, managing your runway and not running out of cash is the toughest thing to handle because there is no quick fix. This got me down, and I must admit I struggled because I felt there was no way out. But we got through it and came out the other side, which was a massive relief.”
Michael’s clear vision of what he wanted to achieve in life was enough fuel for him to continue despite the struggles he faced in business. It was his strong vision that held him together and prevented him from giving up. He knew back then that if he gave up, it simply meant he was not passionate enough and that his dreams didn’t mean that much to him at all.
Today, Michael is the proud founder of the tech startup known as VoiceByte, a media technology designed to disrupt the way audiences interact with TV shows, radio stations, and podcasts. Supporting him behind this novel idea are former Facebook executives, the founding VP of Yahoo U.S.A., and several active entrepreneurs from Australia. iHeart Media, the biggest media company in America today, found VoiceByte such a promising technology that it automatically made an investment offer after Michael and his team completed their pitch. iHeart Media also valued VoiceByte in the Series A round at $29 million.
Soon after iHeart Media’s investment, several other investors followed, making VoiceByte one of the most sought-after investment opportunities in the market. Michael could not be any happier that all his plans and hard work paid off. He also recognizes the priceless contributions of his team and how it allowed Michael the freedom to continue to dream big for VoiceByte.
Apart from his tech startup, Michael is also an Amazon FBA seller. He has a well-established brand that is well on its way to becoming a seven-figure generating business in the next 12 months. His Amazon Facebook group called The EndGame network, which he established alongside Jamie Paros, was voted Best Amazon Facebook Group in the world. If anything, his businesses are all about making life a little bit easier for people, something that Michael is best known for because of his innovative ideas.
“My mind works by looking for ways to make things more efficient, easier to do, with less effort,” Michael shared. “So essentially, I am a problem solver. I love the challenge of finding a problem and creating a solution to make people’s lives better. Creating businesses is my outlet to let my mind flow with ideas to make people’s lives easier and solve all their problems.”
Today, Michael is living happily with the love of his life, Nicole, and their respective children from previous relationships. He tries to maintain a healthy and active lifestyle so that he can do more to impact communities around the world. At the rate that he is going, there is no way that Michael is slowing down anytime soon. He can be expected to make more groundbreaking ideas as he continues to be a startup trailblazer.