Grow A Small Business Podcast

Troy Trewin
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Dec 24, 2024 • 43min

From $50K to 8-Figure Success: Kristi Herold on How JAM Built a Team of 50 Full-Time & 400 Part-Time Staff Across 25 Cities, with 11 Acquisitions, a Culture of Play, and a First-Day Ritual That Creates Lifelong Memories. (Episode 609 - Kristi Herold)

In this episode of Grow a Small Business, host Troy Trewin interviews Kristi Herold, founder of JAM, shares her inspiring journey of growing a business from $50,000 in first-year revenue to an 8-figure success over 28 years. With 50 full-time and 400 part-time team members, JAM connects communities through play in 25 cities, offering adult sports leagues and corporate team-building events. Kristi highlights the impact of a people-first culture, 11 strategic acquisitions, and her innovative onboarding process. Tune in to learn how she transformed challenges into growth opportunities while creating meaningful connections that change lives. Other Resources: QFF: Mastering Employee Retention: Insights from Joey Coleman, Seasoned Chief Experience Composer with 20+ Years in Business Leadership, Managing Teams of 50+, and Generating Millions in Revenue. (Episode 520 - Joey Coleman) Success at Waubs Harbour Distillery: Bec Polmear on Building a Profitable Maritime Whisky Brand, Using Ocean-Cooled Techniques, and Creating a Legacy with Authentic Tasmanian Flavors and Global Ambitions in 18 Months of Sales. (Episode 600 - Bec Polmear) An easy way to measure if your customers love you in 21 minutes – use the Net Promoter Score (NPS). And it's FREE. Listen to 'It Pays to Play,' a book by Kristi Herold, on Spotify. Get your copy of It Pays to Play: How Play Improves Business Culture by Kristi Herold on Amazon Why would you wait any longer to start living the lifestyle you signed up for? Balance your health, wealth, relationships and business growth. And focus your time and energy and make the most of this year. Let's get into it by clicking here. Troy delves into our guest's startup journey, their perception of success, industry reconsideration, and the pivotal stress point during business expansion. They discuss the joys of small business growth, vital entrepreneurial habits, and strategies for team building, encompassing wins, blunders, and invaluable advice. And a snapshot of the final five Grow A Small Business Questions: What do you think is the hardest thing in growing a small business? The hardest thing is staying motivated when facing challenges that aren't enjoyable, like legal issues or HR problems. Kristi emphasizes the importance of resilience and staying committed to the purpose, even on tough days, as not every day will feel rewarding. What's your favourite business book that has helped you the most? Kristi Herold's favorite business books include Never Lose a Customer Again and Never Lose an Employee Again by Joey Coleman. She appreciates these books for their insights into customer and employee retention strategies. Additionally, she values WTF: Willing to Fail by Brian Scudamore for its lessons on embracing failures as opportunities for growth. Are there any great podcasts or online learning resources you'd recommend to help grow a small business? Kristi highly recommends Guy Raz's How I Built This for deep dives into entrepreneurial journeys and Built to Sell by John Warrillow, which emphasizes structuring a business to operate efficiently, whether or not you plan to sell. What tool or resource would you recommend to grow a small business? Kristi Herold recommends incorporating play as a powerful tool to grow a small business. By integrating play into the workplace—such as shoutout channels, playful meeting starters, and team-building activities—businesses can foster stronger team connections, boost morale, and enhance productivity. She emphasizes that creating a fun, engaging culture leads to better collaboration and overall business success. What advice would you give yourself on day one of starting out in business? Kristi Herold advises her day-one self to "enjoy the journey." She reflects that it's important not to rush through milestones but to savor the day-to-day experiences, both good and challenging. Building a business is a marathon, not a sprint, and finding joy in the process is key to long-term success and fulfillment. Book a 20-minute Growth Chat with Troy Trewin to see if you qualify for our upcoming course. Don't miss out on this opportunity to take your small business to new heights! Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. Quotable quotes from our special Grow A Small Business podcast guest: Success is about the positive impact you make on people's lives, not just the numbers — Kristi Herold Great culture begins with treating your team well and aligning them with your vision — Kristi Herold Never give up—resilience is the key to navigating the ups and downs of entrepreneurship — Kristi Herold
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Dec 21, 2024 • 53min

From Café Beginnings to Leading an 80-Person Team: Solomon Thimothy Shares 18 Years of Success, Building Multi-Business Ventures, Mastering Lead Generation, and the Proven Growth Formula for Sustainable Business Expansion. (Episode 608 - Solomon Thimothy

In this episode of Grow a Small Business, host Troy Trewin interviews Solomon Thimothy, founder of ClickX, about his journey from freelancing in a café to leading a team of 80 across multiple business ventures. Solomon shares insights on building sustainable growth, mastering lead generation, and his proven Growth Formula. Learn how his focus on systems, partnerships, and mindset helped him scale ClickX and beyond over 18 successful years. Why would you wait any longer to start living the lifestyle you signed up for? Balance your health, wealth, relationships and business growth. And focus your time and energy and make the most of this year. Let's get into it by clicking here. Troy delves into our guest's startup journey, their perception of success, industry reconsideration, and the pivotal stress point during business expansion. They discuss the joys of small business growth, vital entrepreneurial habits, and strategies for team building, encompassing wins, blunders, and invaluable advice. And a snapshot of the final five Grow A Small Business Questions: What do you think is the hardest thing in growing a small business? According to Solomon Thimothy, the hardest thing in growing a small business is getting out of your own way. Many entrepreneurs struggle to delegate and scale because they want to handle everything themselves. He emphasizes the importance of shifting from doing the work to leading, building systems, and trusting others to take ownership. Overcoming this fear and mindset is critical to achieving sustainable growth. What's your favourite business book that has helped you the most? Solomon Thimothy highlights that his favorite business books are those focused on personal development, like those by Brian Tracy. He believes these books are instrumental in shaping the mindset needed to tackle challenges and grow a business. For tactical advice, he recommends scaling-focused books like Scaling Up by Verne Harnish and The E-Myth Revisited by Michael E. Gerber, which teach how to build systems and create a scalable business structure. Are there any great podcasts or online learning resources you'd recommend to help grow a small business? Solomon Thimothy recommends How I Built This by Guy Raz as one of his favorite podcasts, offering inspiring stories behind successful businesses, and also mentioned Business Wars as a valuable resource for understanding competitive dynamics between top brands. While he prefers books for professional development, consuming several at a time through Audible and AI-assisted tools, Solomon emphasizes the importance of personal development and mindset-focused materials early in a business journey, followed by tactical and scaling-oriented resources as the business grows. This reflects his belief in continuous learning to drive small business success. What tool or resource would you recommend to grow a small business? Solomon Thimothy highlighted google.com as a powerful and versatile tool for growing a small business. He emphasized that advanced search techniques on Google can provide a wealth of information and solutions, often outperforming more specialized tools. Solomon described Google as "the original chat GPT," offering immense value for resourceful business owners without requiring additional subscriptions or tools. What advice would you give yourself on day one of starting out in business? Solomon Thimothy's advice to himself on day one of starting out in business would be to take more risks. He reflected on how fear and uncertainty in his early years held him back from taking on larger projects, despite their potential for monumental growth. Book a 20-minute Growth Chat with Troy Trewin to see if you qualify for our upcoming course. Don't miss out on this opportunity to take your small business to new heights! Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. Quotable quotes from our special Grow A Small Business podcast guest: Success is built on systems, not shortcuts. The right systems can scale your business beyond your wildest dreams – Solomon Thimothy Partnerships that focus on serving customers, not just profits, are the ones that truly last – Solomon Thimothy Growth happens when you master acquisition, retention, and the mindset to keep pushing forward – Solomon Thimothy
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Dec 19, 2024 • 17min

QFF: Rebecca Fitzsimmons shifts from NCIS Special Agent to Founder of Tactical Harmony, emphasizing mindset mastery, holistic leadership, and team empowerment with strategies to help small businesses overcome self-doubt. (Episode 607 - Rebecca Fitzsimons)

QFF: Quick Fire Friday – Your 20-Minute Growth Powerhouse! Welcome to Quick Fire Friday, the Grow A Small Business podcast series that is designed to deliver simple, focused and actionable insights and key takeaways in less than 20 minutes a week. Every Friday, we bring you business owners and experts who share their top strategies for growing yourself, your team and your small business. Get ready for a dose of inspiration, one action you can implement and quotable quotes that will stick with you long after the episode ends! In this episode of Quick Fire Friday, host Rob Cameron interviews Rebecca Fitzsimmons, founder of Tactical Harmony, discusses her unique journey from NCIS special agent to successful mindset and leadership coach. With years of global experience, Rebecca shares her proven framework for holistic leadership, emphasizing the power of mindset, self-awareness, and intentional action. Tune in to learn how she helps small business owners and leaders overcome barriers, redefine success, and achieve extraordinary results in their personal and professional lives. Key Takeaways for Small Business Owners: The Power of Mindset: Success begins with self-awareness and addressing limiting beliefs. Mastering your mindset is the foundation for effective leadership and achieving meaningful goals. Holistic Leadership Framework: Rebecca's "Plan, Align, Execute, and Receive" approach provides a structured way to tackle challenges, develop strategies, and celebrate incremental victories. Focus on the 20%: Prioritize tasks that yield 80% of results. By identifying and amplifying high-impact actions, business owners can drive efficiency and growth. Our hero crafts outstanding reviews following the experience of listening to our special guests. Are you the one we've been waiting for? Celebrating Wins: Small victories matter. Recognizing achievements not only boosts morale but also reinforces habits that lead to long-term success. Fear as a Catalyst: Successful leaders don't avoid fear—they embrace it. Redefining your relationship with fear allows you to push past self-doubt and seize new opportunities. Intentional Leadership: Setting clear intentions and aligning actions with core values ensures consistent progress and helps navigate ever-changing business landscapes. One action small business owners can take: One action small business owners can take, according to Rebecca Fitzsimons: Every Monday, set clear intentions by identifying your top priorities and focusing on the 20% of tasks that will drive 80% of your desired results, ensuring a productive week. Do you have 2 minutes every Friday? Sign up to the Weekly Leadership Email. It's free and we can help you to maximize your time. Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. 👇 Quotable quotes from our special Grow A Small Business podcast guest: Mastering your mindset is the key to unlocking your true leadership potential — Rebecca Fitzsimmons Celebrate the small victories — they create the momentum needed for big wins — Rebecca Fitzsimmons Fear doesn't stop successful people; they move forward with it, redefining their relationship with it — Rebecca Fitzsimmons
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Dec 17, 2024 • 24min

Tevia Hoalst of TeKoda Accounting: Leading a 13-Member Team with 7-Figure Revenue, 20% Annual Growth, and an Inc 5000 Culture Award. Redefining Accounting with Exceptional Client Service and a People-First Approach. (Episode 606 - Tevia Hoalst)

In this episode of Grow a Small Business, host Troy Trewin interviews Tevia Hoalst shares her journey of founding TeKoda Accounting, a firm specializing in personalized accounting services. Tevia discusses scaling her business to a 13-member team with 7-figure revenue, achieving over 20% annual growth, and earning an Inc. 5000 award for outstanding company culture. She emphasizes the importance of client-centric services, strong team dynamics, and leveraging AI for industry growth. Why would you wait any longer to start living the lifestyle you signed up for? Balance your health, wealth, relationships and business growth. And focus your time and energy and make the most of this year. Let's get into it by clicking here. Troy delves into our guest's startup journey, their perception of success, industry reconsideration, and the pivotal stress point during business expansion. They discuss the joys of small business growth, vital entrepreneurial habits, and strategies for team building, encompassing wins, blunders, and invaluable advice. And a snapshot of the final five Grow A Small Business Questions: What do you think is the hardest thing in growing a small business? According to Tevia Hoalst, the hardest thing in growing a small business is perseverance. She emphasizes that not every day will feel like a win, and visionaries must push through the slow days while staying focused on their long-term goals. What's your favourite business book that has helped you the most? Tevia Hoalst's favorite business book is Awesomely Simple by John Spence. She finds its six principles invaluable, especially the emphasis on building a strong company culture and addressing toxic team dynamics, even when it involves high-performing individuals. Are there any great podcasts or online learning resources you'd recommend to help grow a small business? Tevia Hoalst recommends the podcast Diary of a CEO. She appreciates its variety of guests and insightful interview style, making it a valuable resource for personal and professional growth in business. What tool or resource would you recommend to grow a small business? Tevia Hoalst recommends investing in a robust client management system. She highlights its importance in automating tasks and reducing manual work, enabling teams to focus on more strategic activities and business growth. What advice would you give yourself on day one of starting out in business? Tevia Hoalst would tell herself on day one to embrace the journey, stay committed, and enjoy every moment. Her advice emphasizes digging in, loving the process, and making the experience fun while working toward long-term success. Book a 20-minute Growth Chat with Troy Trewin to see if you qualify for our upcoming course. Don't miss out on this opportunity to take your small business to new heights! Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. Quotable quotes from our special Grow A Small Business podcast guest: Success is all about perseverance, pushing through the slow days while keeping your eye on the goal — Tevia Hoalst AI won't replace the human element; it's the personal connection that keeps clients coming back — Tevia Hoalst Client service isn't just about delivering results; it's about building lasting relationships and understanding their goals — Tevia Hoalst
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Dec 14, 2024 • 44min

Scaling Job Rack to 7 Figures: Noel Andrews on Building a Remote Recruitment Service, Helping Small Businesses Hire Top Talent from Eastern Europe and South Africa, and Achieving Success Through Team Culture and Clear Roles. (Episode 605 - Noel Andrews)

Noel Andrews, CEO of JobRack, transforms the recruitment landscape by connecting small businesses with talented professionals from Eastern Europe and South Africa. He emphasizes the importance of team culture and clearly defined roles for long-term success. Noel shares his journey to a 7-figure revenue, discusses the challenges of maintaining focus as a small business owner, and highlights the value of cultural fit in hiring. Tune in for insights on navigating recruitment hurdles and fostering growth in a remote work environment.
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Dec 12, 2024 • 24min

QFF: Corey Morris of Voltage: From Employee to Owner, His SEO & CRM Strategies Deliver $2.2M ROI Annually—Key Insights on Avoiding Shiny Distractions, Embracing AI, and Creating Actionable Growth Plans for Long-Term Success. (Episode 604 - Corey Morris)

QFF: Quick Fire Friday – Your 20-Minute Growth Powerhouse! Welcome to Quick Fire Friday, the Grow A Small Business podcast series that is designed to deliver simple, focused and actionable insights and key takeaways in less than 20 minutes a week. Every Friday, we bring you business owners and experts who share their top strategies for growing yourself, your team and your small business. Get ready for a dose of inspiration, one action you can implement and quotable quotes that will stick with you long after the episode ends! In this episode of Quick Fire Friday, host Rob Cameron interviews Corey Morris, founder of Voltage, about his journey from employee to business owner. Corey shares how his proven SEO and CRM strategies deliver $2.2M in ROI annually. He emphasizes avoiding shiny distractions, embracing AI, and creating actionable growth plans for long-term success. With years of experience in digital marketing, Corey provides valuable insights for businesses looking to grow sustainably. Key Takeaways for Small Business Owners: Prioritize ROI-Driven Marketing: Focus on strategies that directly impact your business growth, such as SEO and CRM, and avoid spending time on activities that don't align with your ROI goals. Resist the Temptation of Shiny New Tools: Stay disciplined with your current strategy and avoid jumping on every new trend or tool that comes your way. Consistency and focus are vital for sustainable growth. Structured AI Experimentation: While embracing AI is important, allocate structured time for experimentation without letting it distract from proven strategies that are already working for your business. Our hero crafts outstanding reviews following the experience of listening to our special guests. Are you the one we've been waiting for? Centralize Data with a CRM System: A well-organized CRM system is essential for understanding customer journeys, tracking ROI, and making informed decisions based on accurate, real-time data. Set Actionable and Measurable Goals: Establish clear goals with specific actions tied to measurable outcomes. This helps prevent aimless efforts and ensures every action contributes to business growth. Tailor Marketing Strategies to Your Business: Recognize that every business is unique. Adapt your marketing approach to fit your industry, target audience, and business model to maximize success and ROI. One action small business owners can take: One actionable step small business owners can take, as advised by Corey Morris, is to create a clear, actionable marketing plan focused on measurable ROI. This involves prioritizing strategies that align with business goals, tracking results, and avoiding distractions from trendy tactics that don't contribute to long-term growth. Do you have 2 minutes every Friday? Sign up to the Weekly Leadership Email. It's free and we can help you to maximize your time. Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. 👇 Quotable quotes from our special Grow A Small Business podcast guest: Success in marketing comes from focusing on ROI-driven activities, not just ticking boxes — Corey Morris Structured planning turns goals into measurable, actionable outcomes for growth — Corey Morris Avoid shiny distractions and stay consistent with strategies that align with your business goals — Corey Morris
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Dec 10, 2024 • 57min

Lauren Hayes on Building Moxxi Property into a Thriving Business: Leading a Dedicated Team of 12, Achieving Success Through Strategic Growth, Leadership Excellence, and Fostering a Strong Company Culture. (Episode 603 - Lauren Heys)

In this episode of Grow a Small Business, host Troy Trewin interviews Lauren Heys, founder of Moxxi Property, shares her inspiring journey of creating a thriving business with a dedicated team of 12. She discusses the challenges of leadership, the importance of a strong company culture, and strategies for sustainable growth. Lauren dives into lessons learned from overcoming obstacles and adapting to market demands. Her insights provide practical takeaways for small business owners seeking success. Tune in for actionable advice and inspiration from a proven entrepreneur. Other Resources: When should a growing small business have a Board of Directors or Advisors? Get a return from an effective Chairperson of a Board Why would you wait any longer to start living the lifestyle you signed up for? Balance your health, wealth, relationships and business growth. And focus your time and energy and make the most of this year. Let's get into it by clicking here. Troy delves into our guest's startup journey, their perception of success, industry reconsideration, and the pivotal stress point during business expansion. They discuss the joys of small business growth, vital entrepreneurial habits, and strategies for team building, encompassing wins, blunders, and invaluable advice. And a snapshot of the final five Grow A Small Business Questions: What do you think is the hardest thing in growing a small business? Lauren Heys believes the hardest thing in growing a small business is striking a balance between scaling operations and maintaining the quality of products or services. Additionally, she emphasizes that building a reliable team while managing consistent cash flow can be particularly challenging. What's your favourite business book that has helped you the most? Lauren Heys highlights "Ready, Fire, Aim" by Michael Masterson and "100M Offers: How to Make Offers So Good People Feel Stupid Saying No" by Alex Hormozi as two influential business books. "Ready, Fire, Aim" emphasizes the importance of prioritizing execution over perfection when scaling a business, while "100M Offers" provides actionable insights on crafting irresistible offers to drive growth and revenue. Both books have significantly shaped her approach to building and scaling her business. Are there any great podcasts or online learning resources you'd recommend to help grow a small business? Lauren Heys recommends online learning resources like Leila Hormozi's content, known for its blunt and actionable business advice, and Cody Sanchez's insights, which focus on acquiring and scaling traditional brick-and-mortar businesses. What tool or resource would you recommend to grow a small business? Lauren Heys recommends leveraging AI tools and mentorship to grow a small business. She highlights the importance of using technology, such as AI-powered tools for task management and customer communication, to streamline operations and enhance efficiency. Additionally, she emphasizes the value of having a good mentor to provide guidance and insight, helping entrepreneurs navigate challenges and scale their businesses effectively. What advice would you give yourself on day one of starting out in business? Lauren Heys advises her day-one self to remember that "your efforts and dreams are worth it." She emphasizes the importance of self-belief, pushing through self-doubt, and continuously striving to improve. Lauren highlights the value of perseverance and the mindset that every day is an opportunity to practice, grow, and get better as a leader and entrepreneur. Book a 20-minute Growth Chat with Troy Trewin to see if you qualify for our upcoming course. Don't miss out on this opportunity to take your small business to new heights! Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. Quotable quotes from our special Grow A Small Business podcast guest: Consistency and grit are the cornerstones of every successful business journey — Lauren Heys The right people in the right roles will always amplify your success — Lauren Heys True leadership is about creating a safe, thriving space for your team to grow — Lauren Heys
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Dec 8, 2024 • 47min

Joel Primus of Naked Revival Reveals Entrepreneurial Insights: From Launching a Global Brand to Mastering Deep Work, Balancing Focus, and Unlocking Growth – Essential Strategies for Thriving in Business and Life. (Episode 602 - Joel Primus)

In this episode of Grow a Small Business, host Troy Trewin interviews Joel Primus, President of Naked Revival, dives into his entrepreneurial journey, sharing how he built a global brand and the lessons learned along the way. He discusses the importance of deep work, overcoming distractions in today's digital age, and crafting a framework for personal and professional growth. Joel also offers advice for staying balanced while scaling a business and reveals what he would tell his younger self when starting out. This conversation is packed with insights for business owners at every stage of their journey. Joel talked about his book Getting Naked: The Bare Necessities of Entrepreneurship and Start-ups by Joel Primus. This book is a candid exploration of the entrepreneurial journey, drawing from the author's personal experiences as the founder of Naked Underwear, a premium apparel brand. The book is a mix of memoir and practical guide, offering insights into the realities of starting and growing a business, including the challenges, triumphs, and lessons learned along the way. Why would you wait any longer to start living the lifestyle you signed up for? Balance your health, wealth, relationships and business growth. And focus your time and energy and make the most of this year. Let's get into it by clicking here. Troy delves into our guest's startup journey, their perception of success, industry reconsideration, and the pivotal stress point during business expansion. They discuss the joys of small business growth, vital entrepreneurial habits, and strategies for team building, encompassing wins, blunders, and invaluable advice. And a snapshot of the final five Grow A Small Business Questions: What do you think is the hardest thing in growing a small business? Joel Primus often highlights that the hardest thing in growing a small business is maintaining focus while scaling. He emphasizes the challenges of staying true to your vision and values amidst the pressures of growth, resource constraints, and market demands. Primus believes that balancing the pursuit of innovation with the need for operational efficiency is critical. He also stresses the importance of managing distractions, maintaining deep work, and avoiding burnout—all of which are vital to long-term success in entrepreneurship. What's your favourite business book that has helped you the most? Joel Primus shared that "Deep Work" by Cal Newport as one of his favorite and most impactful business books. He admires its emphasis on the importance of focus and undistracted work, which he finds crucial for achieving meaningful progress in both personal and professional pursuits. Are there any great podcasts or online learning resources you'd recommend to help grow a small business? Joel Primus recommends the podcast "Business Wars" for inspiring stories of iconic company rivalries like Disney vs. Pixar. He emphasizes using tools like Google Sheets to focus on non-negotiables that drive growth. Joel also highlights Cal Newport's "Deep Work" as essential for maintaining focus in a distraction-heavy world. These resources help balance learning, productivity, and strategic growth for small business success. What tool or resource would you recommend to grow a small business? Joel Primus recommends creating a framework to guide growth and balance, using tools like Google Sheets to track non-negotiables that advance personal and professional goals. He also highlights Cal Newport's "Deep Work" as a resource for fostering focus and productivity in a distraction-heavy world. What advice would you give yourself on day one of starting out in business? Joel Primus advises his younger self to slow down and enjoy the journey, reminding himself that he chose the entrepreneurial path and should embrace every moment of it. This reflection emphasizes the importance of patience and savoring the process of building a business. Book a 20-minute Growth Chat with Troy Trewin to see if you qualify for our upcoming course. Don't miss out on this opportunity to take your small business to new heights! Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. Quotable quotes from our special Grow A Small Business podcast guest: Success is built on frameworks, not fleeting moments of inspiration — Joel Primus Balance isn't a luxury; it's a necessity for sustainable growth — Joel Primus Focus on your non-negotiables—they are the building blocks of your success — Joel Primus
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Dec 5, 2024 • 23min

QFF: Mike Michalowicz of Profit First Professionals shares how to transform your small business finances, overcome debt, build sustainable profit, and achieve financial freedom with actionable insights for entrepreneurs. (Episode 601 - Mike Michalowicz)

QFF: Quick Fire Friday – Your 20-Minute Growth Powerhouse! Welcome to Quick Fire Friday, the Grow A Small Business podcast series that is designed to deliver simple, focused and actionable insights and key takeaways in less than 20 minutes a week. Every Friday, we bring you business owners and experts who share their top strategies for growing yourself, your team and your small business. Get ready for a dose of inspiration, one action you can implement and quotable quotes that will stick with you long after the episode ends! In this episode of Quick Fire Friday, host Michael Denehey interviews Mike Michalowicz, author and keynote speaker, and discusses his revolutionary Profit First methodology. Highlighting the pitfalls of traditional profit models, Mike shares actionable insights on prioritizing profit to transform businesses and improve financial health. His approach is based on channeling behavior rather than discipline, offering solutions that resonate with small business owners globally. A standout success story involves a struggling horse farm in Australia, where adopting Profit First not only turned profitability around but also strengthened the owners' personal relationships. Other Resources: Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine Key Takeaways for Small Business Owners: Prioritize Profit First: Flip the traditional profit formula from "Sales - Expenses = Profit" to "Sales - Profit = Expenses." By setting aside profit first, you ensure your business operates within its true financial means. Set Up a Profit Account: Create a dedicated bank account for profit. Even allocating just 1% of your revenue to this account builds the habit and ensures consistent profitability over time. Automate Cash Management: Use Parkinson's Law to your advantage by allocating funds into specific accounts (e.g., profit, owner's pay, taxes). Automation minimizes temptation and ensures disciplined cash flow management. Our hero crafts outstanding reviews following the experience of listening to our special guests. Are you the one we've been waiting for? Reward Yourself as the Owner: Separate your wages for working in the business from profit, which is your reward for taking the risk of starting and running the business. Celebrate even small victories to stay motivated. Profitability Over Debt Dependency: Profitability is the key to eradicating debt. Allocate a portion of your profit to pay off debt while rewarding yourself with a small percentage to maintain morale. Start Small, Start Now: Don't wait for the perfect moment to implement change. Begin with small, manageable steps like opening a profit account and allocating a small percentage of revenue. Gradually scale up as you adjust to the system. One action small business owners can take: One action small business owners can take, according to Mike Michalowicz, is to set up a profit account and allocate at least 1% of every revenue deposit into that account. This simple step helps build the habit of prioritizing profit and ensures that, over time, your business will start to accumulate funds for growth and financial security. This action doesn't require changing your business operations but establishes a crucial financial discipline that can lead to long-term success. Do you have 2 minutes every Friday? Sign up to the Weekly Leadership Email. It's free and we can help you to maximize your time. Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. 👇 Quotable quotes from our special Grow A Small Business podcast guest: Profit must be prioritized to achieve true financial freedom — Mike Michalowicz Your business exists to serve you, not the other way around — Mike Michalowicz Behavioral change, not discipline, is the key to lasting success — Mike Michalowicz
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Dec 3, 2024 • 52min

Success at Waubs Harbour Distillery: Bec Polmear on Building a Profitable Maritime Whisky Brand, Using Ocean-Cooled Techniques, and Creating a Legacy with Authentic Tasmanian Flavors and Global Ambitions in 18 Months of Sales. (Episode 600 - Bec Polmear)

In this episode of Grow a Small Business, host Troy Trewin interviews Bec Polmear, Co-Founder and Head of Creative at Waubs Harbour Whisky. Bec shares the remarkable story of Warbs Harbor Distillery, a premium Tasmanian whiskey brand. She discusses their journey to achieving profitability in their first year of sales, the innovative ocean-cooled techniques that define their maritime whiskey, and their exciting global expansion, including their first export to Japan. Discover the passion and dedication behind building a lasting legacy. Other Resources: Started with $1K, scaled 700% annually through early influencer marketing, and sold their tea business for $10M in under 3 years – (Episode 5 - Tim Polmear) Starting with $10K in 2004, losing it all, and nearly quitting, they now generate $27M annually with 55 team members selling fitness products – (Ben Crowley) Why would you wait any longer to start living the lifestyle you signed up for? Balance your health, wealth, relationships and business growth. And focus your time and energy and make the most of this year. Let's get into it by clicking here. Troy delves into our guest's startup journey, their perception of success, industry reconsideration, and the pivotal stress point during business expansion. They discuss the joys of small business growth, vital entrepreneurial habits, and strategies for team building, encompassing wins, blunders, and invaluable advice. And a snapshot of the final five Grow A Small Business Questions: What do you think is the hardest thing in growing a small business? According to Bec Polmear, one of the hardest things in growing a small business is managing decision fatigue. With countless decisions to make, from big-picture strategies to minor details, it can feel overwhelming. She emphasizes the importance of having a clear vision and brand direction to simplify decision-making and stay focused on what truly matters for the business's growth. What's your favourite business book that has helped you the most? Bec Polmear's favorite business book is Building a StoryBrand by Donald Miller. She finds it incredibly helpful for understanding brand positioning and crafting clear, compelling messaging that resonates with customers, which has significantly influenced her business approach. Are there any great podcasts or online learning resources you'd recommend to help grow a small business? Bec Polmear recommends podcasts as a key resource for growing a small business. Her favorites include Grow a Small Business, Drinks Adventures, How I Built This, and DTC Podcast. She also suggests subscribing to industry-specific email newsletters, such as those from The Spirits Business, to stay updated on trends and insights. These tools provide practical knowledge and inspiration for entrepreneurs. What tool or resource would you recommend to grow a small business? Bec Polmear recommends using Instagram Insights as a valuable tool for growing a small business. It helps track the performance of content, identify what resonates most with the audience, and refine messaging to build a loyal and engaged community. This focus on authentic, impactful storytelling has been instrumental in driving her business growth. What advice would you give yourself on day one of starting out in business? Bec Polmear advises that on day one of starting a business, you should ask yourself: "What is my honest motivation for doing this?" She stresses the importance of ensuring that your business fulfills a genuine need, whether it's for financial success or a passion project. By being clear about your motivation and whether your product or service can meet that goal, you're more likely to stay committed through the challenges and avoid giving up when things get tough. Book a 20-minute Growth Chat with Troy Trewin to see if you qualify for our upcoming course. Don't miss out on this opportunity to take your small business to new heights! Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. Quotable quotes from our special Grow A Small Business podcast guest: Success isn't just about profits; it's about building something you're proud of — Bec Polmear Stay authentic in your storytelling, and your community will find you — Bec Polmear Business is about creating value, not just making money — Bec Polmear

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