Owner To Owner Podcast

@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, 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.

Jaryd Krause, an Online Business M&A Advisor with a rich background in scaling seven- and eight-figure businesses, shares his journey from plumbing to digital success. He discusses the immense potential for offline businesses to thrive by leveraging online assets and marketplaces like Flippa. Key topics include innovative strategies for integrating online growth, navigating business acquisitions, and enhancing local businesses into destination spots. Jaryd also emphasizes the importance of mentorship and risk diversification for sustainable success.

@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