Owner To Owner Podcast

@RichardShrapnel is a #BusinessStrategist and has deep experience working with the owners of #SmallMediumBusinesses. His strength is looking at how businesses are performing and where they are going. He has recently updated and published a third edition (to take account of #covid19) of Going Broke Staying Sane, a workbook to help owners facing #financialdistress to work their way through those problems.  The workbook outlines a 7-step process to help when things don't go as expected - when #cashflows dry up or when you're aksing yourself "What do I do?". It's especially relevant now following the covid-19 lockdowns and the likelihood that so many #SMEs have been hit hard.In our discussion we talk about;finding a way through but expecting scarsthe many types of businesses that have been impacted #restaurants #tourism #hospitality the apparently low number of #insolvencies to date and the potential for numbers to escalate when business people stop hanging onthe sneaking, slow, gradual  pathway to #financialdistress#DeathByAThousandCuts#hardquestions;how much do I dig into my reserves?How much do I increase the debt which I'm carrying?How much do I pull out for my superannuation to try and keep the business alive?How much do I allow the outstanding commercial rents to grow?the natural tendency for small business people to lock themselves down and not share the difficulties with their family because they don't want to take the burdens of the business at homethe importance of #connectingwithpeople around you, of #sharingtheburdenthe #sevenstepsAccept - it's not about saying it's okay, it's about acceptingClarify - getting the facts on the table - so what are my losses? Where are my assets? Where are my liabilities? Whose name is on the line? Who were site guarantees? Whose assets are exposed? What are the opportunities?Action - what are my options? What can I do? What is the exposure? How do I mitigate that exposure? What can I save?Champions - the people going to have your back. They believe in you, they want you to succeed. They have some business sense. They're honest and they'll cord as they see itBe Real - do not surrender your values. Just compare the actions and decisions you take against what is important to youCare - maintain your emotional, mental, and physical fitness.A Light - you need to look for that by creating something,  that light at the end of that tunnel, which you can hang onto and pull yourself outthe tipping point and calling it quits - it's not a failure - it is a sensible commercial decision to release yourself in the business, make a sensible commercial decision, and then take with you what you need to restart#Seekinghelp @BeyondBlueSeeking help @smallbusinessdebthelpline#reinvention#restructuringYou can buy the workbook here www.richardschrapnel.com@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 

@JamesMurphy from @kerekere is a #social and #businessentrepreneur. At a young age, he moved over to #Fiji. The @kerekere brand was formed based on a Fijian #custom in which a relative or a neighbor can request something and it must be willingly given with no expectation of repayment.He has a track record of building businesses with a social bent.  Under the @kerekere brand he has built and successfully sold 2 of those businesses. We chat about the process of #preparingforsale and then undertaking a #businesssale.He grew up in a #familybusiness #smallbusiness environment. Both grandparents had businesses, one an electrical contractor and the other owned a #servicestation. Even from an early age they always talked to him about #values, #valuesinbusiness and the nuances of #competition and #collaboration. Our discussion covers;#smallbusinessdeciding that being an accountant (like father and two uncles) was not the path, and instead becoming a #socialworker#startingup and progressing from a #coffeecart to a #coffeekiosk to a 'proper' business  at the #BoydCommunityHub#KereKereSouth and #KereKereGreenwhat's needed to run a business #udermanagementhis two pieces of advice in terms of selling;you just got to transact regularly, because you never know sort of what's around the corneronce you start thinking, it's probably time to sellbeing #purposedriventhe reality of getting close to #burnout and losing some of the original enthusiasmhow #purpose was a  strength in the #sellingprocessgetting #saleready for someone to knock on the door and actually getting out to find that ideal buyermaking sure you leave something in for the person who buys the business.the early days of making 1000 coffees a daywhy business is very personal and turning transactions into relationships@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 

@JamesMurphy from @kerekere is a #social and #businessentrepreneur. At a young age, he moved over to #Fiji. The @kerekere brand was formed based on a Fijian #custom in which a relative or a neighbor can request something and it must be willingly given with no expectation of repayment.He has a track record of building businesses with a social bent.  Under the @kerekere brand he has built and successfully sold 2 of those businesses. We chat about the process of #preparingforsale and then undertaking a #businesssale.He grew up in a #familybusiness #smallbusiness environment. Both grandparents had businesses, one an electrical contractor and the other owned a #servicestation. Even from an early age they always talked to him about #values, #valuesinbusiness and the nuances of #competition and #collaboration. Our discussion covers;#smallbusinessdeciding that being an accountant (like father and two uncles) was not the path, and instead becoming a #socialworker#startingup and progressing from a #coffeecart to a #coffeekiosk to a 'proper' business  at the #BoydCommunityHub#KereKereSouth and #KereKereGreenwhat's needed to run a business #udermanagementhis two pieces of advice in terms of selling;you just got to transact regularly, because you never know sort of what's around the corneronce you start thinking, it's probably time to sellbeing #purposedriventhe reality of getting close to #burnout and losing some of the original enthusiasmhow #purpose was a  strength in the #sellingprocessgetting #saleready for someone to knock on the door and actually getting out to find that ideal buyermaking sure you leave something in for the person who buys the business.the early days of making 1000 coffees a daywhy business is very personal and turning transactions into relationships@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 

@RozCampbell is the #founder of @Tsuno a #socialenterprise that sells #bamboofiber #sanitarypads liners and #organic #cottontampons. Tsuno sells via retailers around the country and internationally, and online direct to the consumer through the business website. Half of the profits go to @OneGirl who send girls to school in #SierraLeoneHer business started in 2011 while studying Industrial Design at @RMIT in Melbourne and being on a  traditional professional trajectory to #designfurniture. But an incident in Europe while on a study tour changed that.  She got her period and asked a European friend if they a pad or a tampon? Her friend told her she did not use those and what followed was an education about the #menstrualcup. In this episode we cover;her personal experiences and lessons learned after she considered, and ultimately declined, an  unexpected offer to sell a share of her businessgetting really excited about this concept of a #reusableproduct, that you only have to buy once every ten years, that was also really good for the #environmentgetting inspired and getting back to Australia to get startedlaunching in 2014 with a #crowdfundingcampaign - like a big community project#sustainabilitythe work #onegirl does to get more #girls to #school who were not able to go to school because of a various number of reasons - #poverty #periodsa program called #LaunchPaddealing with someone essentially knocking on the door and saying, "they really like your business, and we would like to buy in?"#exitstrategy #exitplanning#bigquestions;your strengthswhy things are not changing fast enoughcould bringing someone else on board make it bettercould hand this over to someone elsewhat can I do next if I handed "my baby" over#offmarketsales#emotionsinbusinesstrying before buying (coming up with an agreement to try working together for three months before selling)@kerrcapital #businessownersdiagnosticseeing your business through the eyes of a buyergetting increased #businessvalue from making the business less dependent on the ownerrealising your business is an investment and cultivating value 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 

@RozCampbell is the #founder of @Tsuno a #socialenterprise that sells #bamboofiber #sanitarypads liners and #organic #cottontampons. Tsuno sells via retailers around the country and internationally, and online direct to the consumer through the business website. Half of the profits go to @OneGirl who send girls to school in #SierraLeoneHer business started in 2011 while studying Industrial Design at @RMIT in Melbourne and being on a  traditional professional trajectory to #designfurniture. But an incident in Europe while on a study tour changed that.  She got her period and asked a European friend if they a pad or a tampon? Her friend told her she did not use those and what followed was an education about the #menstrualcup. In this episode we cover;her personal experiences and lessons learned after she considered, and ultimately declined, an  unexpected offer to sell a share of her businessgetting really excited about this concept of a #reusableproduct, that you only have to buy once every ten years, that was also really good for the #environmentgetting inspired and getting back to Australia to get startedlaunching in 2014 with a #crowdfundingcampaign - like a big community project#sustainabilitythe work #onegirl does to get more #girls to #school who were not able to go to school because of a various number of reasons - #poverty #periodsa program called #LaunchPaddealing with someone essentially knocking on the door and saying, "they really like your business, and we would like to buy in?"#exitstrategy #exitplanning#bigquestions;your strengthswhy things are not changing fast enoughcould bringing someone else on board make it bettercould hand this over to someone elsewhat can I do next if I handed "my baby" over#offmarketsales#emotionsinbusinesstrying before buying (coming up with an agreement to try working together for three months before selling)@kerrcapital #businessownersdiagnosticseeing your business through the eyes of a buyergetting increased #businessvalue from making the business less dependent on the ownerrealising your business is an investment and cultivating value 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 

@Sir Stephen Wilkinson  is the  founder of @Good & Prosper,  a knowledge business for #entrepreneurs and #business owners. He educates #businessowners about #businessvalue by helping them become fluent in the #languageofbusiness.In our discussion we talk about; the shortcomings and opportunities related to the traditional approach to #managingfinances in a typical small businessthe upside of increasing #financialliteracyhow to understand the story your #businessnumbers are trying to tell youthe importance of always understanding and regularly assessing the value of your business value, in the same way that #listedbusinesses#confidentcapitalismhis unique pathway to #finance from studying #literature and #artsthe importance of seeking out a #mentor to teach you in those formative early years of being a #businessowner#advisoryboards and mentors in #smallbusinesswhy #owners and #advisers need to look at the #balancesheet and not just the #profitandloss the need for business owners to take responsibility and say;I want to learn this stuffI want to know how it works, andWhat I can do betterwhen the best accountancy practitioners in the world can't help you@Jack Stack and the Great Game of Business, which effectively teaches the importance of finance and sharing financial information with the entire company. in order to get everybody on board and understand how to play the game@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 

@Sir Stephen Wilkinson  is the  founder of @Good & Prosper,  a knowledge business for #entrepreneurs and #business owners. He educates #businessowners about #businessvalue by helping them become fluent in the #languageofbusiness.In our discussion we talk about; the shortcomings and opportunities related to the traditional approach to #managingfinances in a typical small businessthe upside of increasing #financialliteracyhow to understand the story your #businessnumbers are trying to tell youthe importance of always understanding and regularly assessing the value of your business value, in the same way that #listedbusinesses#confidentcapitalismhis unique pathway to #finance from studying #literature and #artsthe importance of seeking out a #mentor to teach you in those formative early years of being a #businessowner#advisoryboards and mentors in #smallbusinesswhy #owners and #advisers need to look at the #balancesheet and not just the #profitandloss the need for business owners to take responsibility and say;I want to learn this stuffI want to know how it works, and What I can do betterwhen the best accountancy practitioners in the world can't help you@Jack Stack and the Great Game of Business, which effectively teaches the importance of finance and sharing financial information with the entire company. in order to get everybody on board and understand how to play the game@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 

#regionalsmallbusinesses are at the centre of healthy #localeconomies, both as a supplier of goods or services and as an employer. It's in everyone's interest that these #businesses successfully transfer from one #owner to another.  #Owners of #regionalbusinesses face additional hurdles when selling their business. In this 3 part #owners of #regionalbusinesses share their own personal experiences from going through a #businesssale process.In this 3rd interview (over 2 weeks)  Russell Spoke from @Maggie'sKitchen from #queenscliff in #victoria shares his very open and personal story from leaving the public service to buying or starting 3 businesses. Along the way he and his wife experienced success, the loss of everything and then recovery. Against the flow they chose to close rather than sell their 3rd business. He explains how and why they came to make this decision. We cover;leaving the #publicservice after seventeen yearsgrowing up in a #smallbusiness #familybusiness in #countryvictoria - his parents owned two #generalstoresbuying their first small business - a #fishandchipshop which was reasonably successful but selling because the hours didn't work with very young childrengoing in #bootsandall and buying  a #fruitshop (thinking this business that would involve less hours)not doing the enough #duediligencewatching a big fruit farm open up a competing shop nearby  - the business went backwards, they could not compete and ultimately went #broke and #losteverything - eventually giving it away just to get out of ithaving a house and then having to #sellthehousethe birth of Maggie's Kitchen when Maggie started making some #preserves and selling them in the fruit shopMaggie making preserves and Russell going to get a job as a #waiterworking full-time, seven days a week in the shopmoving around the corner and seeing the business grow rapidly"not getting greedy" - being ok with "doing okay"being scared of expanding too much for fear of losing it all againconsidering selling and getting some "nibbles" which went nowhere, taking the business back off the marketsticking with the devil we knowacknowledging that sometimes there are influences out of your control@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 

#regionalsmallbusinesses are at the centre of healthy #localeconomies, both as a supplier of goods or services and as an employer. It's in everyone's interest that these #businesses successfully transfer from one #owner to another.  #Owners of #regionalbusinesses face additional hurdles when selling their business. In this 3 part #owners of #regionalbusinesses share their own personal experiences from going through a #businesssale process.In this 3rd interview (over 2 weeks)  Russell Spoke from @Maggie'sKitchen from #queenscliff in #victoria shares his very open and personal story from leaving the public service to buying or starting 3 businesses. Along the way he and his wife experienced success, the loss of everything and then recovery. Against the flow they chose to close rather than sell their 3rd business. He explains how and why they came to make this decision. We cover;leaving the #publicservice after seventeen yearsgrowing up in a #smallbusiness #familybusiness in #countryvictoria - his parents owned two #generalstoresbuying their first small business - a #fishandchipshop which was reasonably successful but selling because the hours didn't work with very young childrengoing in #bootsandall and buying  a #fruitshop (thinking this business that would involve less hours)not doing the enough #duediligencewatching a big fruit farm open up a competing shop nearby  - the business went backwards, they could not compete and ultimately went #broke and #losteverything - eventually giving it away just to get out of ithaving a house and then having to #sellthehousethe birth of Maggie's Kitchen when Maggie started making some #preserves and selling them in the fruit shopMaggie making preserves and Russell going to get a job as a #waiterworking full-time, seven days a week in the shopmoving around the corner and seeing the business grow rapidly"not getting greedy" - being ok with "doing okay"being scared of expanding too much for fear of losing it all againconsidering selling and getting some "nibbles" which went nowhere, taking the business back off the marketsticking with the devil we knowacknowledging that sometimes there are influences out of your control@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 

#regionalsmallbusinesses are at the centre of healthy #localeconomies, both as a supplier of goods or services and as an employer. It's in everyone's interest that these #businesses successfully transfer from one #owner to another.  #Owners of #regionalbusinesses face additional hurdles when selling their business. In this 3 part series #owners of #regionalbusinesses share their own personal experiences from going through a #businesssale process.In this 2nd interview (over 2 weeks)  Sandra Kain from #ColesBay in #Tasmania shares her beginning to end story of landing in #ColesBay starting 2 new businesses and then completing the cycle and selling, over a much longer timeframe than she imagined, a bit over 26 years later.  We cover;arriving in 1994, taking on a #supermarket and #takeaway as one #business, and then a few years later, purchasing the #bakery next doorusing the earlier experience of owning a business in #perth but being challenged by the step up to the next levelher motivations for being in businessthe #inspiration she got from her #mother who worked in a little #MilkBar, work alongside  her, and enjoying the interaction with peoplethough I had worked before and it was my own business but this was a large scalethe benefits of good #timing with #Tasmaniantourism opening up and having #international guests coming from everywhere#colesbay being the first town in #Australia to #banplasticbags and working with @PlanetArk#tasmanina as a beautiful #cleanandgreen placehearing the signal that ït's #timetosell - knowing that the average time it would take to #sellyour business was three or four years.kicking off the #sellingprocess and getting nowhere slowly (initially by putting notices on the front of my businesses - just to see who was out there)deciding that after twelve months two years that it was not really going anywherethe challenges for young couples, young baker's in getting #financedealing with #tirekickers and endless #questionsworking alongside #goodpeople #colorfulpeoplethe difficulties in getting good people working for you in #ruralareas and #countryareashoping and then realizing that #children weren't really interested in taking on the businesses - a major turning point in her lifefeeling anxious from then onexperiencing the sense of loss after selling the business  - wandering "what you are going to do tomorrow?"finally selling and becoming farmers #breeding #BeltedGallowaysworking out that working with animals is a lot easier - because they do not answer back!!@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