Greg Sheehans Podcast

Ep 36: Michael Wood: From $0 to selling for hundreds of millions

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When Michael Wood, the entrepreneurial force behind Translucent and ReceiptBank (Dext), sits down to chat, you're guaranteed a treasure trove of insights that go beyond the usual startup success story.

As we navigate Michael's voyage from the uncharted waters of early B2B SaaS business terrain to the heights of a multi-hundred million dollar sale, his candour is as refreshing as it is enlightening.

His reflections on the motivations fuelling his drive shed light on the personal challenges that often accompany the entrepreneurial journey. Michael's backstory, influenced by his mother's conservative take on job security, makes his leap into entrepreneurship all the more compelling.

But this conversation isn't confined to past victories; Michael leads us through the emotional labyrinth of founding a company, from the adrenaline rush of overcoming the brink of bankruptcy to the nuanced struggle of expanding across international borders.

The story of ReceiptBank's metamorphosis from a postal-based service to a digital lifesaver for accountants is a masterclass in adaptation and innovation. And with Translucent's inception sparked by the need for seamless multi-entity management, Michael proves that the entrepreneurial itch doesn't simply fade with success—it evolves.

Away from spreadsheets and investor meetings, Michaels shares how he recharges with adventures that rival his business conquests. From sailing the Atlantic to cycling the rugged terrains from Melbourne to Sydney, his pursuits speak to the resilience and relentless spirit that define a true founder.

You can connect with Michael here and be sure to check out both ReceiptBank and Translucent.