Owner To Owner Podcast

@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, 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