Bill Withers, founder of The Adapt Way and author of 'Succession Thinking', shares his entrepreneurial journey and insights into building resilient SMEs. He emphasizes the need for a long-term vision over short-term profits and discusses key themes like stewardship, leadership development, and fostering supportive communities for business owners. Bill also addresses the importance of clear roles within teams, trust in business culture, and strategic approaches to selling businesses, advocating for flexibility in exit strategies.
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question_answer ANECDOTE
Bill Withers' Entrepreneurial Journey
Bill Withers grew up in remote Kununurra with small business parents, shaping his natural attraction to entrepreneurship.
His journey went from lazy student to CEO and owner by age 30, after various jobs and university.
question_answer ANECDOTE
Acquire's Global Growth
Acquire, a software company for geoscientists, grew to have 500 customer sites in 50 countries and seven offices globally.
Bill Withers sold Acquire after 22 years of growth and global expansion.
insights INSIGHT
Fragility of Founder-Led Businesses
Founder-led businesses built around one person are fragile and vulnerable to life events.
Building resilience means creating a company that can operate well without the founder present.
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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.
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.
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Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.
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