Owner To Owner Podcast

@Michael Kerr welcomes @David Brudenell Executive Director from @decidr.ai discuss the challenges and opportunities for Australian SMEs in adopting AI strategies. They explore the National AI Readiness Index launched by Decidr,  the importance of system design, and how AI can transform small businesses. The conversation delves into the potential of AI to provide #SMEs with the equivalent of thousands of employees, the role of agentic platforms, and the need for businesses to adapt to the fast-paced AI landscape.Takeaways:SMEs need a system built for action, not just beliefMost businesses lack a plan to integrate AI effectivelyAI can provide SMEs with the equivalent of thousands of employeesSystem design is crucial for successful AI integrationAI is a horizontal technology that thrives on contextAgentic platforms can unshackle businesses from administrative tasksAI can transform hospitality by handling bookings and customer serviceSMEs have the most to gain from AI but are at risk of being outpacedAI can help businesses scale and become more resilient@kerrcapital  Thanks for listening.  Visit the Owner To Owner Podcast website to subscribe, listen back, or check out any resources or information mentioned on the show.Search @ownertoownerpodcast on your favourite podcast player to subscribe and listen to the episodes.Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.michael.kerr@kerrcapital.com.auwww.ownertoownerpodcast.com.au 

@Michael Kerr speaks with @Vicki Likoudis from True North Buyers Advocates about the opportunities for tenants and buyers in favorable commercial property market cycle. Vicki sees the opportunity being available for another 6-9 months.They discuss how small business owners can take advantage of this cycle to negotiate a better lease or acquire a commercial property.It's a tenant's market right now, making negotiation crucial.Vicki shares her extensive background in small business and her role as a buyer's advocate, emphasizing the importance of understanding the market cycle, negotiation strategies, and the emotional aspects of property acquisition. They discuss;How buying advocacy can help clients navigate property purchases and leases.The challenges and opportunities presented by the current market conditionsThe significance of community ownershipWhy Commercial property can be emotional for business owners.Government support is needed for small business funding and mental healthNegotiation strategies can lead to significant savings for tenantsChapters 00:00 Introduction to Commercial Property Opportunities01:01 Vicki's Background in Small Business04:51 Understanding the Role of a Buyer's Advocate08:13 Current Market Cycle for Commercial Property11:10 Navigating Vacant Commercial Properties13:59 Exploring Off-Market Opportunities15:28 Consultative Approach to Property Acquisition18:29 Benefits of Buying vs. Leasing Commercial Property20:57 Landlord-Tenant Relationships and Negotiations22:21 Negotiating Commercial Leases: A Win-Win Approach25:09 Regional vs. Metro: Understanding Property Dynamics28:06 Community Ownership: A New Model for Local Businesses31:03 The Challenges of Community-Driven Business Models33:33 The Importance of Local Businesses in Regional Economies37:13 Government Support for Small Businesses: A Call to Action  Thanks for listening.  Visit the Owner To Owner Podcast website to subscribe, listen back, or check out any resources or information mentioned on the show.Search @ownertoownerpodcast on your favourite podcast player to subscribe and listen to the episodes.Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.michael.kerr@kerrcapital.com.auwww.ownertoownerpodcast.com.au 

@Michael Kerr and @Farhan Rehman, co-founder of @Habibi Chicken,  a family business founded in #WaggaWagga. Farhan shares 'the journey' of creating, expanding, taking on Melbourne and building a community based, legacy business. We talk about;the challenges and triumphs of entrepreneurshipthe importance of communitythe drive to create opportunities in regional areashow diverse talent and cultural exchange contribute to building resilient businesses and vibrant communitiesregional entrepreneurshipimmigration policy and economic development, and leveraging these dynamics for sustainable growthresilienceskills shortagescreating a brand with purpose and legacy@Habibi Chicken @kerrcapital@rehmansheriffgroup  Thanks for listening.  Visit the Owner To Owner Podcast website to subscribe, listen back, or check out any resources or information mentioned on the show.Search @ownertoownerpodcast on your favourite podcast player to subscribe and listen to the episodes.Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.michael.kerr@kerrcapital.com.auwww.ownertoownerpodcast.com.au 

@Michael Kerr welcomes @Stephen Greenwood, Global CEO of @Valloop, and @Hunter Page, Australian Director of Valloop, to discuss the transformative power of employee ownership. Valloop via its @platform is reshaping the landscape for SMEs, offering innovative solutions for business transitions, and empowering employees to become legitimate buyers.We talk about;The rise of employee ownership and its impact on SMEsWhy employee ownership is becoming a vital consideration for business owners worldwideValloop's unique platform and its role in facilitating business transitionsThe benefits of employee ownership for businesses and local communitiesThe rise of employees as business buyers successfully acquire and manage businesses.The need for better and wider education on Employee Ownership   Thanks for listening.  Visit the Owner To Owner Podcast website to subscribe, listen back, or check out any resources or information mentioned on the show.Search @ownertoownerpodcast on your favourite podcast player to subscribe and listen to the episodes.Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.michael.kerr@kerrcapital.com.auwww.ownertoownerpodcast.com.au 

@Phil Gregory from @EWaterSystems joins host @Michael Kerr. They discuss Phil's  journey from various jobs to creating a sustainable cleaning technology company tackling a global problem from Australia. This is valuable advice for aspiring entrepreneurs and covers;the importance of purpose and profitraising capital and funding growthtechnology licencingnavigating big competitorsthe importance of exit planning, andthe significance of becoming a B Corp.TakeawaysHow Phil Gregory's diverse career path led him to start eWater Systems.The importance of purpose and profit in business.How Phil's personal experiences with environmental issues fueled his passion for change.Building strong client relationships is crucial for business success.Navigating competition from established chemical companies is a significant challenge.Having a clear exit strategy can guide business growth and decisions.Becoming a B Corp aligns with eWater's mission of sustainability.The future of eWater Systems involves expanding awareness and market presence.Government regulations can create unnecessary challenges for small businesses.It's a really informative listen on the what's and how's that have  propelled eWater Systems to the forefront of sustainable innovation.Don't forget to like, comment, and subscribe for more insightful episodes! Thanks for listening.  Visit the Owner To Owner Podcast website to subscribe, listen back, or check out any resources or information mentioned on the show.Search @ownertoownerpodcast on your favourite podcast player to subscribe and listen to the episodes.Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.michael.kerr@kerrcapital.com.auwww.ownertoownerpodcast.com.au 

Join @tracy fryer from @designstudioperth and @michael kerr as we explore the art of branding. Tracy shares her journey from a creative entrepreneur to a branding expert, offering valuable insights into how small businesses can craft a compelling brand identity. Learn about the essential elements of branding, the importance of understanding your target audience, and how a strong brand can drive business success.Key Highlights:Tracy's entrepreneurial journey and the birth of Design Studio PerthThe three pillars of effective branding: messaging, visual identity, and media. Real-world examples of branding success and challenges.Takeaways:Brand Identity as a North Star: A well-defined brand identity serves as a guiding compass for all marketing efforts, ensuring consistency and clarity in messaging and visuals.Understanding the Ideal Client: Identifying and focusing on your ideal client is crucial for creating a brand that resonates and attracts the right audience, leading to more effective marketing strategies.Beyond Logos: The Three Pillars of Branding: Successful branding encompasses messaging, visual identity, and media, all aligned to create a cohesive and compelling brand presence.Branding as a Growth Catalyst: A strong brand not only differentiates a business in a crowded market but also adds value, enhancing business growth and sustainability.Emotional Connection and Trust: Branding is about evoking emotions and building trust with your audience, which can lead to increased loyalty and long-term success. Thanks for listening.  Visit the Owner To Owner Podcast website to subscribe, listen back, or check out any resources or information mentioned on the show.Search @ownertoownerpodcast on your favourite podcast player to subscribe and listen to the episodes.Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.michael.kerr@kerrcapital.com.auwww.ownertoownerpodcast.com.au 

@Michael Kerr and @Graham Stephen, founder of @BizVal Global, discuss #businessvaluation for small and medium enterprises (SMEs). With "85 to 95% of small businesses not sellable" we discuss the imperative for owners and advisers to understand business value today so they can begin proactively increasing it from tomorrow. Graham explains why forward-looking valuations are the key to helping business owners make informed decisions.They explore Graham's journey into entrepreneurship and his fascinating global perspective on business valuation,TakeawaysBusiness valuation is often overlooked until a sale is imminent.Many business owners do not understand the true value of their business.Regular valuations can help business owners make informed decisions.Owner dependency is a critical factor in business valuation.Valuation should be a forward-looking process, not just historical.Understanding cash profits is more important than revenue figures.The compliance aspect of valuation can limit its effectiveness.Data accuracy is essential for credible valuations.Removing red tape can foster a better environment for SMEs.Access to funding is crucial for small business growth.Chapters00:00 Introduction to BizVal Global and Its Purpose02:32 Graham's Journey to Entrepreneurship05:27 Understanding Business Valuation Importance08:43 The 85% of Unsellable Businesses12:13 Global Perspectives on Business Valuation14:25 Choosing the Right Valuation Approach18:43 The Valuation Process Explained21:40 Key Valuation Drivers for Business Owners24:39 The Role of Accountants in Valuation27:36 Valuation Multiples and Their Implications30:39 Understanding Business Valuation: Buyers and Multiples34:30 The Impact of Business Age and Owner Dependency38:33 Mitigating Risks: Insurance and Business Preparedness39:28 Data Sources and Valuation Challenges43:21 Valuation Process: A Comprehensive Approach49:23 Valuation Gaps: Realistic Expectations and Deal Structures52:10 Improving Australia's SME Landscape: Key Recommendations@kerrcapital Thanks for listening.  Visit the Owner To Owner Podcast website to subscribe, listen back, or check out any resources or information mentioned on the show.Search @ownertoownerpodcast on your favourite podcast player to subscribe and listen to the episodes.Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.michael.kerr@kerrcapital.com.auwww.ownertoownerpodcast.com.au 

In this conversation, @Michael Kerr and @Amy Christopherson, founder of @Grounded HR, discuss her pathway into small business ownership, the importance of HR in small businesses, and the challenges faced by business owners. They explore the significance of leadership in employee engagement, navigating difficult conversations, and building a positive workplace culture. Amy shares insights on #exit planning, #employee ownership, and the impact of #remote work on business operations. The discussion emphasizes the need for a growth mindset and the importance of focusing on people within organizations.Takeaways;Amy started Grounded HR while traveling Australia.HR should be accessible to small businesses from day one.Disengaged employees can sacrifice profit.Business owners need to learn people management skills.Difficult conversations are acts of kindness.Small gestures can build a positive workplace culture.Remote work has changed employee expectations.Exit planning is crucial for business resilience.Employee ownership can be a viable transition strategy.A growth mindset is essential for business leaders.  Thanks for listening.  Visit the Owner To Owner Podcast website to subscribe, listen back, or check out any resources or information mentioned on the show.Search @ownertoownerpodcast on your favourite podcast player to subscribe and listen to the episodes.Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.michael.kerr@kerrcapital.com.auwww.ownertoownerpodcast.com.au 

Host @Michael Kerr speaks with @Honor Northam about her journey in business ownership and her advocacy for employee ownership. They discuss the challenges and benefits of transitioning to employee ownership trusts (EOTs), the impact of small businesses on local communities, and the cultural barriers that hinder the adoption of employee ownership in Australia. Honor shares her experiences with her bakery, @Honorbread, and how with limited formal business qualifications she has successfully run multiple businesses.The discussion covers;the upside of employees having a real stake in the companies they work for#employeeownership as a way to reward those who contribute to a business's success.how transitioning to an employee ownership trust can be financially beneficial for business ownerswhy #communityimpact is a significant consideration for small business owners when thinking about #exitplanninghow small businesses play a crucial role in supporting local communitieswhy understanding #EOTs is essential for business transitions.why cultural perceptions of ownership can hinder the adoption of employee ownership models.why regular business valuations are important for planning transitionshow the future of employee ownership in Australia is promising but requires more advocacy and understanding.Chapters00:00 Introduction to Employee Ownership02:47 Honor's Business Journey and Employee Ownership Experience05:59 Challenges and Misconceptions in Employee Ownership09:09 Financial Benefits of Employee Ownership11:56 Transitioning Businesses to Employee Ownership15:01 Community Impact and Responsibility18:01 Supporting Local Youth and Employment20:52 The Complexity of Business Succession24:09 Opportunities in Employee Ownership26:09 Exploring Employee Ownership Trusts (EOTs)29:20 Challenges of Employee Buy-In32:30 Cultural Perceptions of Employee Ownership37:43 Valuing Business Equity and Its Implications  Thanks for listening.  Visit the Owner To Owner Podcast website to subscribe, listen back, or check out any resources or information mentioned on the show.Search @ownertoownerpodcast on your favourite podcast player to subscribe and listen to the episodes.Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.michael.kerr@kerrcapital.com.auwww.ownertoownerpodcast.com.au 

@Rosy McEvedy founder of @IV League Drips, shares her entrepreneurial journey.Rosy founded the business in 2018 and has grown it to nearly 200 licensees.She faced two major setbacks in her entrepreneurial journey.The first setback was a partnership that ended poorly due to lack of compatibility.Rosy's background in pharmacy and nursing influenced her business direction.Rosy shares her personal take on the;Importance of #resilienceComplexities of #businesspartnershipsValue of self-awareness in businessNeed for thorough research and understanding when entering partnerships and the significance of hiring the right people to fill gaps in a business.The conversation covers Rosy's innovative licensing model in the health industry, aiming to make preventative health services accessible across Australia. TakeawaysShe highlights the importance of hiring over partnerships for business growth.Rosy's resilience and determination have been key to her success. Every business owner faces moments of doubt.Support from friends and mentors is crucial.Learning from setbacks builds resilience.Purpose should drive business decisions.A strong network can lead to opportunities.Financial health is vital for business growth.Mentorship can provide invaluable guidance.The importance of a purpose-driven approach.Building a sustainable business model is key.Networking can open doors to new opportunities.rosy@ivleaguedrips.com @michael kerr @kerrcapital Chapters00:00 Introduction to IV League Drips02:23 Rosy's Journey and Business Background10:00 First Major Setback: The Partnership24:40 Second Setback: Financial Distress and Lessons Learned28:03 Overcoming Financial Setbacks34:00 The Importance of Support Systems38:57 Purpose-Driven Business50:56 Mentorship and Guidance for Growth Thanks for listening.  Visit the Owner To Owner Podcast website to subscribe, listen back, or check out any resources or information mentioned on the show.Search @ownertoownerpodcast on your favourite podcast player to subscribe and listen to the episodes.Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.michael.kerr@kerrcapital.com.auwww.ownertoownerpodcast.com.au 

@Michael Kerr and @Jon Manning on why #pricing is the biggest lever for improving profitability. They discuss using pricing strategies as a highly effective way to increase small business profitability. They explore the #psychology behind pricing, the common hesitations business owners face when considering price increases, and the importance of effectively communicating these changes to customers. They cover innovative pricing tactics, the significance of choice architecture in proposals, and the necessity of establishing a systematic pricing cadence.Key takeouts;the need for businesses to understand their value propositionhow and when to reassess pricing models to ensure sustainability and growthwhy business owners need to engage in meaningful discussions with their customers about value and pricingthe importance of understanding the different 'business unit' within a business when considering price changesthe psychological aspects of pricing that affect customer perceptionshow reframing pricing discussions as value conversations can helpChapters00:00 Introduction to Pricing Strategies09:37 The Psychology of Pricing and Business Owner Hesitation18:34 Communicating Price Changes Effectively23:07 Understanding Customer Value and Pricing Conversations31:08 Reassessing Pricing Models for Profitability37:41 Understanding Pricing Complexity40:00 Innovative Pricing Tactics47:12 The Power of Choice Architecture55:48 The Psychology of Pricing01:01:39 Establishing a Pricing Cadence01:10:26 Government and Pricing Dynamics@kerrcapital@pricing prophets   Thanks for listening.  Visit the Owner To Owner Podcast website to subscribe, listen back, or check out any resources or information mentioned on the show.Search @ownertoownerpodcast on your favourite podcast player to subscribe and listen to the episodes.Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.michael.kerr@kerrcapital.com.auwww.ownertoownerpodcast.com.au 

@Marama Carmichael shares her pathway  that started in science and now sees her as founder and CEO of @Oracle Tree, a full-stack digital marketing agency. She discusses the pivotal moments that led her to start Oracle Tree, emphasizing the importance of empowering business owners and better understanding their needs. Marama highlights the challenges many business owners face, including the tendency to create 'Frankenstein' businesses that are reactive rather than strategic. She advocates for financial literacy, mentorship, and the need for external perspectives in business. The conversation also touches on her book, 'Fixing Frankenstein,' which aims to help business owners take charge of their operations and make informed decisions.Marama's journey reflects the importance of adaptability in business.Empowering business owners is at the core of Oracle Tree's mission.Asking 'why' can lead to deeper insights for business owners.Many business owners create reactive 'Frankenstein' businesses.Financial literacy is crucial for business resilience.Mentorship can provide valuable external perspectives.Strategic marketing spending is essential for growth.Curiosity can drive innovation and improvement in business.Understanding client needs is key to effective marketing.Creating a supportive business environment fosters success.@michael kerr@kerr capital 00:00Introduction to Marama Carmichael and Oracle Tree02:29Marama's Journey: From Natural Therapies to Digital Marketing05:12Empowering Business Owners: The Philosophy Behind Oracle Tree07:45Understanding Client Needs: The Importance of Asking 'Why?'10:28The Challenges of Business Ownership: Navigating Flux and Reactivity13:24Creating a Sustainable Business: The Role of Strategy16:18Choosing the Right Clients: Culture Fit and Business Success19:01The Importance of Self-Reflection for Business Owners21:48Oracle Tree's Services: A Comprehensive Approach to Marketing28:05Strategic Financial Management in Business30:23The Importance of Mentorship and Guidance32:49Understanding Business Structure and Roles37:21The Need for Holistic Business Perspectives39:03The Value of External Insights and Mentorship43:48Curiosity and Continuous Learning in Business47:27Key Priorities for Small Business Resilience Thanks for listening.  Visit the Owner To Owner Podcast website to subscribe, listen back, or check out any resources or information mentioned on the show.Search @ownertoownerpodcast on your favourite podcast player to subscribe and listen to the episodes.Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.michael.kerr@kerrcapital.com.auwww.ownertoownerpodcast.com.au 

@bill withers is founder of @the Adapt Way and author of 'Succession Thinking'. In this conversation, Michael and Bill discuss the challenges and strategies for building resilient businesses, emphasizing the importance of shifting from a short-term profit mindset to a long-term vision. Bill shares his journey from a challenging upbringing in #Kununurra to becoming a successful entrepreneur and business leader. The conversation delves into key themes;the importance of stewardship in small and medium enterprises (SMEs), the lessons learned from selling his business Acquire, the vision behind his current venture, ADAPT, which aims to support SME owners in building resilient businesses,the need for leadership development within SMEs, and the significance of creating a supportive community for business owners. They explore the need for;Role clarity, Trust in business culture, and The legislative changes required to support small and medium enterprises (SMEs). Bill highlights the significance of decision-making infrastructure and the need to rethink capital distribution to empower SMEs. The discussion culminates in the idea that business owners should focus on creating options and flexibility rather than viewing selling as the only exit strategy.Takeaways;Stewardship is crucial for the success of SMEs.Business owners often feel overwhelmed and isolated.Leadership development is essential for SME growth.The sale of a business should be approached strategically.Bill's upbringing influenced his passion for supporting SMEs.ADAPT aims to create a supportive community for business owners.The distribution of wealth and power is vital for a healthy economy.Business owners need to clarify their roles for better outcomes.Building capabilities is key to successful business ownership. It's a binary thing; working hard doesn't guarantee success.Return on vision is often more important than return on investment.Building a resilient business requires new practices and habits.Role clarity is essential for effective decision-making.Trust is the key to optimizing business culture.SMEs need different legislation than large corporations.Capital distribution must be rethought to support SMEs.Culture is built on trust and authenticity.Business owners should focus on choices, not just selling.Maximizing the probability of achieving business goals is crucial.@kerrcapital@Michael Kerr  Thanks for listening.  Visit the Owner To Owner Podcast website to subscribe, listen back, or check out any resources or information mentioned on the show.Search @ownertoownerpodcast on your favourite podcast player to subscribe and listen to the episodes.Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.michael.kerr@kerrcapital.com.auwww.ownertoownerpodcast.com.au 

@jaryd krause is an Online Business M&A Advisor with deep experience growing 7 & 8 Figure Online Businesses. In this discussion we talk about the huge potential for offline business owners to leverage online assets for grow, and also how to take advantage of the opportunities.Jaryd shares his personal back story. From starting as a plumbing apprentice to becoming a leading M&A advisor in Online Businesses.The conversation covers how traditional businesses can;leverage online platformsresolve major business challenges, including lead generationcreate new revenue streamssave time and resources with a smart acquisitionWe also talk about;Why marketplaces like @Flippa are valuable resources for buying online businessesthe evolution of business models and the opportunities being created as a consequence the critical aspects of assessing online business opportunitieslearning from past mistakes, and strategies for small business growththe significance of mentorship and the need for small businesses to innovate and share best practices for successassessing financials and traffic sources when buying online businessesChapters00:00Introduction to Online Business Acquisition02:59Jared's Journey from Plumbing to Online Business06:09The Synergy of Online and Offline Businesses08:56Acquisition Strategies for Business Growth11:46Leveraging Online Assets for Offline Success15:06Exploring Marketplaces for Online Business Acquisition18:01Understanding Business Valuation and Multiples21:10Navigating the Online Business Landscape23:51The Future of Business: Online and Offline Integration26:42Diversifying Business Models32:06Assessing Online Business Opportunities36:03Learning from Mistakes in Acquisitions40:12Strategies for Small Business Growth44:05Empowering Small Businesses for Success Thanks for listening.  Visit the Owner To Owner Podcast website to subscribe, listen back, or check out any resources or information mentioned on the show.Search @ownertoownerpodcast on your favourite podcast player to subscribe and listen to the episodes.Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.michael.kerr@kerrcapital.com.auwww.ownertoownerpodcast.com.au 

@gabe enslin from @the adapt way and @michael kerr discuss the importance of building resilience in small and medium businesses. They explore Gabe's diverse background, the Adapt mission, and the critical role of business owners in shaping their companies' futures. The conversation covers;the need for owners to clarify what they want from their business and then align their business strategies accordinglythe importance of resilience, culture, and role clarityGabe shares case studies of successful business transformations, emphasizing the need for a high-performance culture and effective ownership frameworks. They explore the vision for the future of ADAPT, along with policy recommendations to support SMEs. The discussion highlights the significance of understanding employee needs and fostering an engaging work environment to drive business success.Some key takeaways;Many owners desire time back rather than just growth.Understanding the owner's vision is key to business success.Clarity of purpose can transform business strategies.Resilient businesses are more valuable than those set up solely for sale.The impact of a business extends beyond financial metrics.Owners often want to contribute positively to their communities.Effective communication of desires is essential for business alignment. Having clear conversations about what you want is crucial.Building a resilient infrastructure enables sustainable growth.Cultural metrics can improve even during rapid growth.Role clarity is essential for high-performing teams.Engaged employees lead to better business performance.Creating a high-quality entry for new hires is vital.Understanding employee aspirations enhances retention.Partnerships can alleviate the loneliness of business ownership."It has to start with the owner""What do you want?""I want time back"Chapters00:00Introduction to the Owner to Owner Podcast01:46Gabe Enslin's Journey and Background12:51Understanding the ADAPT Way16:12The Importance of Owner's Vision20:01Identifying Owner's True Desires22:49Aligning Business Strategy with Owner's Goals30:22Building Resilient vs. Sellable Businesses33:10Navigating Business Transformation34:29Case Studies of Success36:56Building Resilience in Business38:07The Importance of Culture40:33Role Clarity and Employee Engagement42:28Creating a High-Performance Culture44:33Stewardship and Ownership Dynamics46:42Designing Ownership Frameworks49:39The Journey of Business Partnerships54:29Vision for the Future of ADAPT55:31Recommended Reads for Business Owners57:02Policy Recommendations for SMEs Thanks for listening.  Visit the Owner To Owner Podcast website to subscribe, listen back, or check out any resources or information mentioned on the show.Search @ownertoownerpodcast on your favourite podcast player to subscribe and listen to the episodes.Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.michael.kerr@kerrcapital.com.auwww.ownertoownerpodcast.com.au 

In this episode of Small Business Banter, @Michael Kerr and @Mark Fletcher discuss the evolution and future of independent retailers, particularly news agencies. Mark shares insights from his experience with News Express and Tower Systems, emphasizing the importance of adapting to change, leveraging technology, and understanding market dynamics. The conversation highlights the critical role of independent retailers in communities and the need for them to embrace innovation to thrive in a competitive landscape. In this conversation, Michael and Mark Fletcher discuss the journey of transitioning a long-standing business, the importance of local businesses in building sustainable communities, and the complexities involved in selling a business. Mark shares his experiences with various acquisition processes, the significance of maintaining business performance during transitions, and the emotional challenges of business ownership. They also touch on the need for government support for small businesses and the potential benefits of politicians gaining firsthand experience in small business operations.Takeaways;Independent retailers are crucial for community engagement.Evolving product offerings is essential for survival.Technology can significantly enhance retail operations.Retailers must adapt to changing consumer preferences.Online presence is vital for modern retail success.Data-driven decisions can improve profitability.Successful retailers embrace change and innovation.Community-focused businesses can thrive despite challenges.Understanding market trends is key to growth.Retailers should leverage insights from their point of sale systems. Building sustainable communities relies on thriving local businesses.Navigating the complexities of business transitions requires careful planning.Timing is crucial when considering the sale of a business.Maintaining business performance during a sale is essential for value.Defining roles post-acquisition can help ease the transition.Business ownership can be a lonely journey, requiring support systems.Preparing for a business sale should be an ongoing process.Legislating for small business awareness can change political perspectives.Reforming government procurement can better support small businesses.Small businesses play a vital role in providing employment and community stability.Sound Bites"Retailers need to embrace change.""I love your pathway out of school.""Make every day a payday.""Small businesses give people a start."Chapters00:00The Evolution of Independent Retailers15:10Adapting to Change in Retail29:59Leveraging Technology for Growth28:52Navigating the Complexities of Business Transition32:36The Importance of Timing in Business Sales34:48Maintaining Business Performance During Transition39:31Defining Roles Post-Acquisition42:08The Loneliness of Business Ownership44:25Preparing for a Successful Business Sale48:22Legislating for Small Business Awareness50:27Reforming Government Procurement for Small Business Support@kerrcapital @ownertoownerpodcast.com.au    Thanks for listening.  Visit the Owner To Owner Podcast website to subscribe, listen back, or check out any resources or information mentioned on the show.Search @ownertoownerpodcast on your favourite podcast player to subscribe and listen to the episodes.Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.michael.kerr@kerrcapital.com.auwww.ownertoownerpodcast.com.au 

@Geo George from @Mayfly Ventures discusses the innovative approach of his venture studio, focusing on investing in both new and existing businesses. He emphasizes the importance of navigating uncertainty in the startup world and how AI can serve as a transformative tool for businesses. The conversation also highlights the value of 'boring businesses' and how they can be revitalized through technology and strategic partnerships. Geo shares insights on successful ventures in hospitality and MedTech, and offers practical advice for small businesses looking to leverage AI for growth."We're aiming to do things 2% better, but thousands of times."TakeawaysMayfly Ventures focuses on the intersection of strategy, creativity, and technology.The venture studio model increases the chances of success for new startups.Navigating uncertainty is a key aspect of the startup mindset.AI can enhance business processes and drive efficiency.Boring businesses often hold significant value and potential for growth.Successful ventures often stem from deep domain expertise and understanding of customer needs.The integration of AI into business processes is crucial for staying competitive.Small businesses can leverage AI for customer service and marketing.Documentation and understanding of business processes can lead to meaningful improvements.Investors are increasingly interested in businesses that can demonstrate execution capability."Boring businesses are great businesses."Chapters00:00 - Introduction to Mayfly Ventures and GA George02:50 - The Venture Studio Model: Investing in New and Existing Businesses06:01 - Navigating Uncertainty: The Startup Mindset08:50 - The Role of AI in Business Transformation11:53 - Boring Businesses: The Hidden Gems of Investment15:02 - Case Studies: Successful Ventures in Hospitality and MedTech18:11 - Practical Steps for Small Businesses to Leverage AI21:09 - Conclusion: Embracing Change and Innovation@michael kerr@kerr capital   Thanks for listening.  Visit the Owner To Owner Podcast website to subscribe, listen back, or check out any resources or information mentioned on the show.Search @ownertoownerpodcast on your favourite podcast player to subscribe and listen to the episodes.Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.michael.kerr@kerrcapital.com.auwww.ownertoownerpodcast.com.au 

@tamara simon discusses the challenges owners face, the value of financial awareness, and the necessity of breaking the cycle of overwork to achieve a more profitable and enjoyable business. Tamara shares insights from her book, 'The Five Little Business Pigs', which outlines strategies for building a successful business. The discussion highlights the importance of reflection and understanding one's business dynamics to foster growth and sustainability. In this conversation, Tamara and @Michael Kerr cover;the importance of clarity in rolesthe necessity of #businesscoachingthe need for strong foundational systemsthe impact of leadership behavior on staff morale and productivity.Some takeaways;Success in business is often a jagged line, not a straight path.Many small business owners have expensive hobbies instead of profitable businesses.There is a system in everything; it's about finding it.Owners should aim to work in their sweet spot 80% of the time.Time management is crucial for small business owners.Turnover is not the only measure of success; profitability matters more.It's important to consciously choose the price of your commitments.Most businesses have room for improvement. Every business should have a coach.Understanding your numbers is crucial for success.Business systems are essential for clarity and productivity.Behavioral change in leadership is key to business success.Small business owners should embrace their role with pride.Reflection on business viability is necessary for growth.Coaching provides a sounding board for business frustrations.Strong foundations are built on clear roles and responsibilities.Employee engagement is vital for a thriving business.The journey of business ownership requires bravery and commitment.@kerrcapital  Thanks for listening.  Visit the Owner To Owner Podcast website to subscribe, listen back, or check out any resources or information mentioned on the show.Search @ownertoownerpodcast on your favourite podcast player to subscribe and listen to the episodes.Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.michael.kerr@kerrcapital.com.auwww.ownertoownerpodcast.com.au 

Host @Michael Kerr and @Ronan Leonard  a certified innovation professional and business mentor discuss Ronan's journey from an accidental entrepreneur to mentor in the small business space. The conversation delves into the; how to overcome the daily challenges faced by small business ownersneed for innovation and adaptation in a rapidly changing marketnavigating stagnation in businesssignificance of allocating time and resources for innovation, and the various business models that can be exploredvalue of networking and learning from peers to drive business growth. In this conversation, Michael and Ronan explore various strategies for business growth;AI toolsEffective delegationMarketing and innovation Ronan shares insights from his 100-day startup challenge ( https://www.linkedin.com/newsletters/start-up-to-profit-in-100-days-7231519804916912128/ ) TakeawaysInformation is abundant, but context is often lacking.Business owners often need an external perspective to see new possibilities.Taking a step back can lead to greater long-term success.Understanding different business models is crucial for growth.Networking with peers can provide valuable insights and solutions.Allocating time for innovation is essential for sustainability.The market evolves, and businesses must adapt to stay relevant.Intrinsic motivation drives small business owners to push through challenges. There are various ways to bring expertise into a business without hiring full-time employees.Insourcing allows businesses to utilize external resources intelligently.AI has the potential to disrupt job markets significantly.Business owners should explore AI tools to enhance productivity.Delegating tasks can free up time for business owners to focus on their strengths.Real-world applications of insourcing can lead to significant cost savings.Creating content efficiently can be achieved through effective team collaboration.Marketing and innovation are crucial for business growth.Community engagement and mentorship can enhance business success.Learning from mistakes is essential for business development.@kerrcapital  Thanks for listening.  Visit the Owner To Owner Podcast website to subscribe, listen back, or check out any resources or information mentioned on the show.Search @ownertoownerpodcast on your favourite podcast player to subscribe and listen to the episodes.Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.michael.kerr@kerrcapital.com.auwww.ownertoownerpodcast.com.au 

@Claude Trimboli from @charlesandco talks about the complexities of business liquidation and restructuring. The discussion covers the critical importance of understanding cash flow, the role of early intervention in financial distress, and the emotional toll on business owners facing insolvency. Claudio emphasizes the need for proactive measures, mental health awareness, and the collaborative approach necessary for navigating these challenging situations. The discussion highlights the significance of having a solid grasp of financial numbers and the value of seeking help from trusted advisors.Other important discussion topics include;the responsibilities of business ownersproactive measures to avoid insolvencythe importance of engaging with the #ATOthe new #smallbusinessrestructuringregime  that allows owners to maintain control while addressing their financial challengesthe legal obligation not to trade while insolventwhy understanding financial numbers is crucial for business healthCloud accounting tools to provide better financial insightswhy and how business owners should not be defined by their financial strugglesprioritising mental health and physical well-being@michaelkerr@kerrcapital https://treasury.gov.au/sites/default/files/2020-12/simplified-debt-restructuring-fact-sheet_0.pdf Thanks for listening.  Visit the Owner To Owner Podcast website to subscribe, listen back, or check out any resources or information mentioned on the show.Search @ownertoownerpodcast on your favourite podcast player to subscribe and listen to the episodes.Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.michael.kerr@kerrcapital.com.auwww.ownertoownerpodcast.com.au