Owner To Owner Podcast

@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 

Olga Koskie from Tax Assure updates us on the ATO's plan to recover outstanding tax  debts owed by Australian businesses.Post covid19 the ATO is now actively chasing $52B in outstanding business tax debt. "The ATO has had a huge public shift and an internal shift that they're back to an active collection mode."If you're carrying ATO debt (that's been around longer than the last few months) and have treated them as a financier over recent years you're likely now in the firing line to be chased down The consequences of not actively managing this debt down, in conjunction with the ATO, are dramatic e.g. Director Penalty Notices, garnishing of bank accounts, statutory demands, and even bankruptcy. In this episode Olga talks about;the importance of taking proactive actionthe next steps you need to takewho you can engage to helpthe  and seeking help to address the debtthe need for business owners to understand their cash flow and work with specialists to develop tailored payment plans that are sustainable and match their financial situationOlga also encourages business owners to be kind to themselves and not feel ashamed or embarrassed about their debt."If you don't do anything, they won't put you on a payment plan. They will initiate recovery action against you."Michael KerrKerr 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 

@James Meldrum, co-founder of @Whole Kids, shares the journey of starting and growing a purpose-driven business in the organic food industry. He talks about how he and his co-founder wife Monica tackled the many challenges they faced over 18 years and up until entering Voluntary Administration late in 2023. "We lost about a third of our revenue overnight because we were servicing the airlines with kids meals and special meals."Like a lot of startups the business was initially self-funded with some contributions from family and friends. Later they tapped into bank lending and debtor finance to support their growth. Eventually, they conducted a successful crowdfunding campaign to bring in more investors. The discussion spans; 3 potential sales of the business - the emotional highs and distraction they bring to founders dealing with the pressures of growththe impact of external events like COVID-19, and the importance of personal well-being. James shares his insights on the need for founders to prioritize their own mental health and find a balance between business growth and personal valuesJames'  plans to help other founders and startups through his consultancyOverall, the conversation highlights the highs and lows of entrepreneurship and the lessons learned along the way.Key takeawaysWhy starting a purpose-driven business in a niche market requires perseverance but also a strong alignment of personal values with the business missionThe extra challenges female co-founders need to deal withFocus on finding investors who understand and appreciate the business's purpose and valuesPotential acquisition discussions can be complex and require careful consideration of cultural fit and alignment of valuesHanding over a business to a good home can provide an opportunity for founders to take a step back, capitalize on their hard work, and focus on personal and family prioritiesHow dealing with the pressure to constantly grow can adds complexity and stress to a businessFocus on a growth rate that is sustainable and aligned with personal valuesExternal events like COVID-19 can have a significant impact on a business, and being financially strong and structurally sound can help weather the stormFounders should prioritize their own mental health and well-being, and seek support from trusted friends or advisors who can provide a listening ear and guidanceBusinesses can make a positive impact and thrive by aligning their purpose and values with their operations, and focusing on both profit and impact.Sharing experiences and lessons learned can be valuable for other founders and startups, and providing support and guidance can help them navigate the challenges of entrepreneurship"Even if you're looking at employing someone or bringing on someone as an investor, if you think you can sit next to this person on a plane for three hours and have great in-depth conversations, then they're the right person to bring in."  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 

@Natasha Hawker  founder of @Employee Matters discusses the importance of employees in small businesses, and the impact they have on business performance. Natasha emphasizes the need for exceptional HR practices and the role they play in driving business growth and sustainability. She also discusses the current employment relations landscape and the importance of compliance. Natasha provides insights into the red flags that small business owners should be aware of and the benefits of outsourcing HR services. She concludes by discussing the significance of employee ownership and the role it plays in business success and potential sale. The conversation explores;the importance of investing in personal and professional development for both business owners and employeesthe need for business owners to have a growth mindset and actively seek opportunities to learn and improvethe benefits of employee ownership and how it can increase engagement and motivationthe significance of creating a compelling employee value proposition and fostering a transparent and inclusive work environmentthe use of advisory boards and networking with other business owners is also recommended as a way to gain valuable insights and support.Natasha made it very clear how your employees have such a significant impact on the performance and success of small businesses. This short video beautifully categorises the 4 types of employees and provides a framework for business owners to better manage their #employeeassets. https://share.vidyard.com/watch/qVFVgq3EKyYakjSjQkGCEN?vyetoken=fa04c069-8443-4adb-b9b9-c9ca0dae4ae4&portalId=20625731TakeawaysExceptional HR practices are crucial for business growth and sustainability.  For more information on better managing the 7 main HR risks you should read this ebook from Employee Matters (https://app.hubspot.com/documents/20625731/view/791072601?accessId=a9b9bb)Small business owners should be aware of red flags such as pay secrecy and compliance with employment relations legislation.Outsourcing HR services can provide expertise and support for small businesses without a full-time HR resource.Employee ownership can contribute to business success and potential sale. Investing in personal and professional development is crucial for business owners to improve their skills and knowledge.Employee ownership can increase engagement and motivation among employees.Creating a compelling employee value proposition and fostering transparency and inclusivity are important for attracting and retaining high-quality employees.Advisory boards and networking with other business owners can provide valuable insights and support.@kerrcapital@michaelkerr  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 

@Ken Matthews, founder of @Matthew Steer, shares the long but successful journey from growing to selling a mid-tier financial services firm. He talks about the importance of scaling, the three stages of growth and the challenges of transitioning from a sales-driven mode to an operational mode. "Stepping back and becoming a CEO is a significant step and not an easy one for any entrepreneur."Ken and I talk a lot about the process of selling, and what he sees as the most critical for getting a successful result;the  value of finding the right buyer.the need for consistency and a shared vision when entering into joint ownership modelthe importance of strategic planning and financial analysisusing an #advisoryboardsknowing their retirement numberconstantly work on improving the value of their business, andthe importance of having a strong support network, including mentors and advisory boards.Ken has dealt with many business owners over many years. The triggers for them seeking his services can range from;recognising that their current strategies are no longer working and realising they need to become more sophisticated in their operationsconcerns about succession planning, tounexpected approaches from potential buyers.Key Takeaways;Scaling is crucial in the financial services sector to attract and retain talent and provide a broader range of services to clients.Transitioning from a sales-driven mode to an operational mode requires letting go and delegating responsibilities to focus on running the business.When selling a business, it is important to find a buyer who aligns with the company's culture and vision.Joint ownership models can provide opportunities for growth and innovation, but it requires compatibility and consistency between partners.Advising small business owners involves conducting a deep dive into their financials, creating a strategic plan, and implementing corporate governance to drive growth. Business owners often seek help when their current strategies are no longer effective and they need to become more sophisticated in their operations.Triggers for seeking advisory services can include concerns about succession planning and unexpected approaches from potential buyers.It is important for business owners to know their retirement number and constantly work on improving the value of their business.Having a strong support network, including mentors and advisory boards, can provide valuable guidance and help navigate the emotional roller coaster of selling a business.@kerrcapital@familybusinessaustralia  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 

@Darren Clark is the founder at @Dazlab where he and the team work with  founders, business owners, creatives, technology people, and investors to get digital products off the ground and to market. Darren started because he knew there was a better way to build digital products for people with great business ideas who needed help to build their vision. And he brought significant personal business experience, and some battle scars to starting Dazlab;co-founded a digital creative agency, called Webling, where we won many, many local and international awards over a decade.founded real estate startup (Kohab)  in the USAIn this episode Darrenshares his experiences as a multiple business founder, and the impact of exiting or near-exiting businessesdiscusses the importance of building custom software to create revenue and assets for small businessesreflects on the lessons learned from selling a business and the process of starting a new ventureemphasises the need for efficiency and specialization in business operations, and the importance of considering an exit planhighlights the value of external advice and emotional support during the sale process and the importance of building relationships with potential acquirersdiscusses the value of automating business processes and how it can make a business more efficient and profitableshares case studies and highlights the importance of playing to your strengths and seeking professional help when neededrecommends @Startups for the Rest of Us podcast@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 @Martin Cattach , founder of Finance for Business, discuss the stranglehold the big four banks on small business lending, and explore alternative options for financing. Martin outlines alternative #financing options, especially the diverse and fast growing range of #fintechlenders for #smallbusinessesWe cover;The role of #workingcapital in business growthThe entanglement trap that owners often find themselves inThe importance of understanding your financial positionHow to get more value from your accounting software package and bank account dataPlanning ahead to avoid cash flow problemsThe role of fintech lenders in providing quick and flexible funding solutionsMartin shares examples of clients he has worked with and the positive impact alternative financing has had on their businesses.\@kerrcapital@finforbiz 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 

@MarkRubbo from @readingsbooks shares his personal take on buying and building this iconic business. We cover a lot of ground including;How the opportunity to buy Readings came aboutLaving the music industry (Professor Longhair) for book retailingThe linkage of Marks business ambitions with the impact on;the Australian book industrythe broader literary community (writers, publishers)the local communityMark's ambition and opportunistic mindset to expanding Readings into multiple other locations, and the establishment of an online presenceThe importance of community engagement, author events and creating a vibrant bookstoreThe physical bookshops as a unique experience, with the opportunity for discoveryWhy Government support for bookshops is crucial in preserving the cultural value they bring to communitiesTransitioning out of the CEO role and ensuring a smooth succession to maintain the unique flavor of ReadingsThe challenges and rewards of running an independent bookstoreThe impact of Borders Books when it opened directly opposite in Lygon St in the early 2000'sThe impact of online retailers like AmazonHis experiences of succession planning, and advice for other small bookshop owners - to ensure the continuity of their business and to pass on their legacy.He also talks about his current projects;The Book Sellers podcast - https://podcasts.apple.com/gb/podcast/the-booksellers-podcast/id1683259417#Indigenousarts#literaryprizes@beyondblueAnd finally what it's really like to 'move on', and hand over day to day managementQUOTES:"Sometimes founders rightfully wrongly put everything they've got into it and other people get to benefit from it.""I hope Readings has been a sort of community focused business." 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 

@Earl Eddings  has started, sold and acquired multiple businesses. Along the way he's had high profile roles including as Chair of Cricket Australia, and served as Non Executive Director, Advisory Board member, Adviser and Mentor to other business owners and businesses. He's had wins. He's also learned a lot from experiences where things didn't go to plan. These experiences were however formative and continue to shape how he continues to approach his work,  the support he provides to other business leaders and business owners.   In our discussion we cover;Earl's background and his journey as a business owner, including his first owned business and its saleTurning around businesses and the importance of planning for an exitThe key factors to consider when selling a business, such as having a clean balance sheet and strong systemsThe significance of trust, open communication and integrity in mergers and acquisitions, as well as the importance of proper due diligenceThe importance of expert advice and representationManaging expectations to avoid unrealistic valuationsPlanning for an exit and the starting point, and the future visionWays to increase the value of the businessThe importance of identifying potential buyers and scanning the market is highlightedMitigating risks and ensuring sustainability Working with the buyer and transitioningThe use of non-binding indicative offers and deal negotiationsWhy to avoid lengthy exclusivity periods is emphasizedThe vital importance of personal aspirations and family considerationsThe role of  non-executive directors and advisory boardsWhy seeking guidance and building networks is encouraged as a way to navigate the complexities of selling a businessSome of the key takeaways;When starting a business, it's important to have an exit plan in mind and be prepared for a potential sale.#Culturalfit and alignment of strategic intent are crucial considerations in mergers and acquisitions.Plan for an exit by starting with a clear vision of the future.Identify potential buyers and scan the market to find the right fit.Consider personal aspirations and family dynamics when planning for an exit.Engage non-executive directors and #advisoryboards for guidance and support.Build networks and seek guidance from experienced professionals.@kerrcapital @michaelkerr 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 

@Pete Seligman talks about and #eta (Entrepreneur through Acquisition) and #searchfunds and their impact on small business owners. He's an investor and co-owner of multiple businesses. Pete explains the concept of search funds and how they provide a vehicle for investors to back #acquisitionentrepreneurs. We talk about;the importance of finding the right fit between the entrepreneur and the businesscurrent market challenges and opportunitieshow business owners should handle an approach from  a search fund or investorsthe role of #earnouts in business sales and how they can bridge the gap between buyer and sellerthe common misunderstandings in relation to earnouts, and the potential benefits they can offercreative deal making and risk sharing to improve the prospects for getting a successful transactionwhy business owners need to augment their existing advisors with subject matter experts for a sale processthe importance for owners to reflect on their mission and have honest conversations with co-owners to align their goalsTakeawaysSearch funds provide a pathway for entrepreneurs to buy existing businesses instead of starting one.The fit between the entrepreneur and the business is crucial for success.Business owners should be open to conversations with search funds and investors, as it can lead to new opportunities.Co-investing and joint ventures can be options for owners who want to grow their business with additional capital and expertise.Owners should be prepared for potential exit opportunities and have a clear understanding of their role in the business. Earn outs can be a valuable tool in bridging the gap between buyer and seller in a business sale.Creative deal making and risk sharing are essential for a successful transaction.Owners should consider the potential benefits of earnouts and not reject the concept of deferred payment outright.Business owners may need to augment their advisors with additional expertise for a sale process.Reflecting on the owner's mission and having honest conversations with co-owners are crucial for aligning goals.@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