Grow A Small Business Podcast

In this episode, I interview Rhiannon Beach, the Founder of Pups4Fun, Canberra's leading dog daycare and dog adventure center specializing in behavior-based service. Pups4Fun offers daycare, playgroups, and out and about excursions, activities usually associated with children. Rhiannon was ahead of the curve when she started Pups4Fun, tapping into the sentiment that animals in a household were not just pets, but members of the family. Her journey into small business ownership started in 2005 when was completing her high school. A great teacher pushed her to enter a business plan competition and she went on to win the Australasian award. Aged 19 in 2008, she started a law degree part-time and launched the dog daycare, walking, and sitting business. There were only two other dog daycare businesses in Australia at the time. They currently walk up to 50 dogs at a time and take them to unusual locations like the war memorial. Rhiannon clearly has a passion for dog wellness. The business has grown every year, on average at 180%, from herself alone to now 29 full-time employees. When she launched the business, the industry was worth $3.8 Billion per annum in Australia and is now at $12 Billion. In 2017, she bought another salon 30 kilometers away and two years later, she closed it and brought 98% of the customers to headquarters. At the end of 2008, she got a $10,000 loan for a few months from her father to replace her 1982 small car. That is the only financing she has ever had. In late 2013, she had burnout which led to an infection in her brain and it took 6 months for her to recover, but it was the best thing to ever happen to her. She had to let go, trust her team, and let them run the business. She felt she succeeded when she achieved work-life balance and started getting great feedback from clients. She believes the hardest thing about growing a small business is, "Sacrifices you make and letting go" She shares that the one thing she would tell herself on day one of starting out in business is, "Set systems and procedures up to where you want to be, not where you are now" Sit back, relax and enjoy as Rhiannon shares her awesome small business ownership story. This Cast Covers: Caring for 500 dogs a week in a way that encourages the dogs to be good social citizens. Starting one of the first dog daycare centers in Australia while also studying law. Valuing and standing strong on the pricing strategy for their high-end prestige service. Achieving an average growth rate of 180% every year for the last 13 years. Aiming at creating credibility for other people in the pet industry so other people can understand that it's a serious business. Buying a grooming salon and how it contributed to their expansion. Running things from their head office location with an offsite location where they do the dog daycare from. Considering going into the statewide market and looking at franchising as a growth option. Having a great team that enabled her to find work-life balance. Valuing their customers and the great feedback they get from them because of their great work. Constantly conducting short customer surveys to stay informed of their customer satisfaction and loyalty. Remembering not to assume that your customers' beliefs and values are not the same as yours as the small business owner. Growing the business purely from cash flow by starting small and having financial discipline. The challenges she faced from the business' rapid growth and how she had to battle a life-threatening disease brought on by burnout. Working with her staff to build the great culture they have now. The value of having the flexibility to travel and do what she wants to do. The importance of trusting your employees to run the business without you, trusting your gut, and having advisors. Basing their recruiting process on their values to ensure they hire the most fitting employees. Acknowledging that the risk, sacrifice, and time you've put into building your business entitles you to have a life. Investing in heaps of both formal and informal professional development and learning from other small business owners. The impact of winning at the 2020 Telstra Business Women's Awards. Advocating for good accounting software and systems and processes for every small business. Additional Resources: Pups 4 Fun The 4-Hour Workweek By Tim Ferris The 7 Habits of Highly Effective People By Stephen Covey Music from https://filmmusic.io "Cold Funk" by Kevin MacLeod (https://incompetech.com). License: CC BY (http://creativecommons.org/licenses/by/4.0/

In this episode, Troy interviews Devin Miller, the founder, CEO, and managing partner of Miller IP Law, a law firm that focuses on helping startups and small businesses with patents (inventions), trademarks (brands), and copyrights (creatives). He built his first multi-million dollar startup when he was still in law school in 2013 as part of a competition. After getting involved in startups, he wanted to start a law firm to help startups and small businesses by protecting their IP and helping them grow. He has an electrical engineering degree, a Mandarin Chinese degree, a Masters in business administration, and a law degree. Devin's small business ownership journey is incredible. He came second in a business plan competition while at university and the following year, from his passion for running marathons, he pitched a wearable device that monitors your hydration. In 2013, aged 28, he saw the potential in the product, decided to buy out his business partners, and landed over $1 Million in investment in late 2015 pre-revenue. That value has since more than tripled with no sales yet. He, later on, merged the business with a diabetes wearable device company and the combined business now has an eight to nine-figure valuation (Somewhere between $10 Million and $99 Million) The business grew from one full-time employee, himself, to 40 in the merged business. When asked at which point he felt he had succeeded, Devin said, "I'll let you know when I get there" He says the hardest thing about growing a small business is finding work-life balance and the one thing he would tell himself on day one of starting out in business is, "There's going to be a lot of ups and downs. Strap in and enjoy the ride" Get your notebook and get ready for tons of free small business growth advice from Devin. This Cast Covers: Starting several 7/8 figure businesses and how patents and trademarks were crucial to their success. How he came up with the idea for a wearable device that monitors a person's hydration during a marathon. Partnering up with a diabetes monitoring company to form a single company and raise 8 figures in funding with plans to launch their technology within a year. The intricacies of learning Mandarin by knowing about 20,000 characters. Working a lot of hours to be more hands-on in the operations of the startup and the law firm. Measuring success in business in different ways based on one's long term goals. The potential of getting bought out by a much bigger player in the wearables industry. The importance of defining who your target market is before launching a product. The diverse funding options that they have leveraged to raise cash for their business. Demystifying convertible notes and why small business owners should consider them to raise capital. The investment opportunities in the wearables business. The stress he had to deal with from a lawsuit that was filed against them. Having to step out of a comfort zone to get involved in a SaaS company. Hating taxes and payroll, and how it took him a while to learn proper and effective hiring. Loving the idea stage of a business: Coming up with an idea and executing it. Why he doesn't like the idea of getting a new minimum viable product. Shifting from the foundation of making money to growing the business. The importance of learning constantly and staying informed about what's happening in your market. The pressure that leads a small business owner into making a bad hiring decision. The genius hiring technique that Devin uses to get the best performers into his team. Building a great culture by figuring out what you want your company to focus on and how you want to approach it. The challenges that business owners face when trying to find work-life balance. Learning by listening to podcasts and reading books. Diversifying their board by bringing on investors and people who can help grow the business. Automating your business not to get rid of jobs but to free up time so you can focus more on core activities. Additional Resources: Miller IP Law That Will Never Work By Marc Randolph Entreleadership Podcast Dave Ramsey Business Wars Podcast Profit with Law Podcast Music from https://filmmusic.io "Cold Funk" by Kevin MacLeod (https://incompetech.com). License: CC BY (http://creativecommons.org/licenses/by/4.0/

In this episode, I interview Julie Mathers, the ethical Founder, and CEO of BCorp Certified Flora & Fauna, the world's largest self-funded vegan and cruelty-free product website. She launched the business in late 2014, aged 38. Flora & Fauna has done more than 8,000 SKUs and they have a warehouse and small retail shop located in inland Sydney. Julie is very driven when it comes to our planet, animals, and making a difference. Describing their business as a platform for purpose to do good, one of their initiatives has saved more than 30 tonnes of plastic after their move to minimal packaging. Adding a personal touch by handwriting each order, they have now done it more than half a million times. The business grew from $60,000 in sales in their first year to now $20 Million per annum, growing almost 700% in the last three years, and more recently, 30% per annum. They mainly sell in Australia but a little to New Zealand, the UK, and the US. Julie and her husband started as the two full-time employees and they now have over 40 full-time employees. They got their funding from their initial savings and have sustained their growth from profits. Julie is very passionate about disability employment. She felt she had succeeded when she realized they were making a difference and when they employed the first people, bought a warehouse, and won the national Telstra business awards. Flora & Fauna was awarded the Top Sustainable Retailer in 2020, Best Small Retailer and Best Online Retailer 2018, and was shortlisted as a finalist for Responsible Retailer of the Year at the World Retail Awards 2017. Julie highlights that the hardest thing about growing a small business is keeping going and says that the one thing she would tell herself on day one of starting out in business is, Don't give up, and stress less" If you're an existing or aspiring small business owner, get ready to be inspired! This Cast Covers: The global impact phenomenon that is Flora and Fauna. From a small entity in November 2014 to the huge platform for purpose that they are now. Using their reach, engagement, and profits to make a difference. The measurable results of how they save the environment with minimal packaging. Starting out as a bakery worker at age 16 and how her immense love for retail-led her to where she is today. Growing 699% over the last three years and sustaining a 30% growth over the last very challenging year. Shipping all their products from Australia to the US, UK, and New Zealand by focusing more on the speed of shipping. Expected turnover of over $20 Million in 2020, 6 years after their first year turnover of $60,000. Their immense growth in terms of team members brought about by a continuous increase in the number of orders. How the shed outside their house inspired her to start the business. The surprise and emotion of winning in the national Telstra awards. Seeing success in all the little moments of achievement in one's small business. Her passion for disability employment and making a difference through her business. The importance of working out what you want to achieve with marketing before you invest in a marketing channel. Owning 100% of the business from starting with her own money and growing it solely from cash flow. The challenges in the skincare industry and the advice she has for anyone who wants to get into it. Successfully managing their cash to achieve their business goals despite the stresses they had to overcome. Growing the business by running her own race and focusing primarily on her plans. The experience of moving from corporate to a small business. The importance of a small business owner being relentless. Lessons from their previous hiring blunders that enabled them to win at building a team that fits into their culture. Learning to let go as an owner and founder to give team members the opportunity to do what they're best at. Working tirelessly hard to build Flora and Fauna, and focusing more on the flexibility that the business affords her rather than on the idea of work-life balance. The difficulties she experiences when she tries to shut her mind off when she's not working. Investing in a lot of professional development and the impact it's had on her as a small business owner. The benefits of having a great network you can pull on rather than having a specific mentor. Additional Resources: Delivering Happiness By Tony Hsieh Creative Little Souls The Mentor with Mark Bouris Music from https://filmmusic.io "Cold Funk" by Kevin MacLeod (https://incompetech.com). License: CC BY (http://creativecommons.org/licenses/by/4.0/

In this episode, I interview Pam Brook, the co-founder of Brookfarm, Australia's leading producer of gourmet macadamia products known for its Macadamia Mueslis, Walkabout Mixes, etc. With some friends, Pam and her husband Martin bought 4,500 acres of rainforest with Macadamia trees in beautiful Byron Bay in 1989. Ten years later, they moved from Sydney to finally start their business. Since no one was adding any value to Macadamia nuts, they launched their cereal range and started selling in the late 2000s at the Bangalow Farmers' Market. They now export to 12 countries and sell around Australia but choose to never stock in Coles and Woolworths after seeing how they treated suppliers in the 90s. Pam stayed as a part-time dentist for the first few years and Martin would hit the road selling. In 2003, they built their own factory on the farm and sales grew between 50% and 100%, 10% to 12% per annum. Sales grew 50% to 100% in the early years, now 10% to 12% per annum. From two full-time employees to now over 70, they funded their business from their own capital, bank credit, and some grants without taking on investors. They grew the business mainly from profits. Pam shares that she felt she had succeeded when she gave up a part-time job as a dentist and went all in, winning the Telstra Business of the Year award a few years later. She says the hardest thing about growing a small business is getting the finances right. The one thing she says she would tell herself on day one of starting out is, "You can do it, and focus. Focus, focus, focus!" This Cast Covers: How they planted 1,500 Macadamia trees and later on decided to add value to them which formed the start of Brookfarm. Leaving their jobs to go all-in with Brookfarm and combining their skills to run it successfully. From 2 full-time employees to over 70, and growing to export their products to over 12 countries all over the world. Growing by more than 50% a year in their early years while currently maintaining a 12% annual growth over the last 10 years despite challenges. Why they decided to make their business a generational family business. The lessons she learned from being awarded the Telstra Business of the Year award. Successfully marketing their business by sharing the genuineness of their brand story. Regularly measuring their customer loyalty using the Net Promoter Score. Starting out with their own capital from savings and using bank credit instead of bringing on investors. The impact that the Export Market Development Grant has had on their business. Losing a customer that set their exports back about 50% and how it taught them not to be complacent or take anything for granted. How sales and distribution are some of the most challenging parts of doing business in the food industry. Enjoying the difference that their business makes in people's lives. Hiring people who are smarter than you at what they do, understanding them, and trusting them appropriately while managing them well. Leveraging contract manufacturing to use their machinery to a maximum and help their employees build their skills. The importance of focus and listening for every small business owner. Why a potential employee's attitude is critical to the success of a business. Building a kickass culture by connecting, developing, and celebrating team members. Being the only brand that adds allergens to their natural organic baby cereal to meet the health needs of babies. Everything she does to achieve some work-life balance. Investing in continuous learning, books, conferences, courses, and networking that contribute to her business knowledge. Combining the passion for a business with getting the business plan and finances right. Collaborating with those who can help you grow your business. Additional Resources: Brookfarm Call of the Reed Warbler By Charles Massy TED Talks The Health Report with Dr. Norman Swan Music from https://filmmusic.io "Cold Funk" by Kevin MacLeod (https://incompetech.com). License: CC BY (http://creativecommons.org/licenses/by/4.0/

In this episode, I interview Anna Ross, the Founder, and CEO of Kester Black, an Australian-made, cruelty-free and vegan lipstick, and nail polish brand. She is also the Co-Founder and Creative Director of Arné Skincare. Anna started out with a small jewelry business in Melbourne in 2009 when she was just 19 years old. To increase her product range, she added nail polish which soon tripled revenue, so she dropped the jewelry to focus on starting a leading ethical beauty brand. Now with lipstick added to the range, and warehouses in Melbourne, Wanaka, New Zealand, and the Netherlands, they also sell through distributors in Germany and Malaysia. Four years ago, sales were 10% online and 90% wholesale which has now been flipped to 89% online. The business tripled its revenues in the last three years, and in 2020 is growing 3% to 5% every week. She started with 1 full-time employee, peaked at 9 in 2017, and is now down to 2.5. She won the Telstra Business Woman of the Year and that went to her head so much that she added expensive overheads with an office and more team members before meditation woke her up. Anna testifies that she has had great Facebook ad success and is currently investing $50,000 a month, and shares a key contact to use at a Facebook agency. She describes a recession phenomenon called "The Lipstick Effect" which affects businesses in her industry. She funded her business solely from profits though she recently walked away from a $500,000 investment, turning it into a short term loan instead. Anna felt she has succeeded when this year cash flow improved and she says that the hardest thing about growing a small business is staff. She shares that the one thing she would tell herself on day one of starting out in business is, "Just do it. If I knew what I know now, I would never have done it" Stay tuned for more on Anna Ross' amazing small business ownership journey. This Cast Covers: Being an Australian business located in the very beautiful Wanaka, New Zealand. A leading ethical beauty brand that sells polish and lipstick globally. Diversifying from wholesale brick and mortar to increase their online sales to about 89% of total sales. The Lipstick Effect: How the sales of lipstick and nail polish skyrocket during an economic recession. How they warehouse their products themselves and distribute them to retailers. Their presence in 300 stores in Australia, Germany, and Switzerland with strong partnerships with great wholesalers. Why she's been careful all along in making sure that they own their intellectual properties themselves. From working in retail to starting Kester Black as a jewelry business and diversifying into other products. Growing exponentially by increasing its revenues by up to 915%. How she got a big head from winning the Telstra Business Woman of the Year award. The mistake she made by hiring more staff than she needed. Tripling their revenues in the last three years and growing by about 3% to 5% every week. Using Fulfill By Amazon and the numerous complexities that come with it. Working towards hiring someone to run the day to day activities of the business or exiting. How she has leveraged the power of Instagram and Facebook to sell more. Starting the business with $50 and growing it purely from cash flow. The lessons she learned from trying to get investor/Equity funding. Doing their R&D cost-free through their manufacturers. The stressful experience she went through when she found out that nail polish is classified as "Dangerous goods", and cannot be shipped by post. Keeping a close eye on the financials of the business to ensure long term growth. The importance of being more of a manager to your team than the business owner. Looking for people who actually wanna work in your business and can share in your vision. How understanding herself and how people perceive her helped her grow personally and in business. Using Shopify and Asana to help streamline their daily operations. Additional Resources: KesterBlack Crystal Knows Harvey The E-Myth By Michael E. Gerber How I Built This Podcast Music from https://filmmusic.io "Cold Funk" by Kevin MacLeod (https://incompetech.com). License: CC BY (http://creativecommons.org/licenses/by/4.0/

In this episode, I interview Christoph Petzoldt, the Managing Partner of Simon-Kucher's Australia/New Zealand operations. Chris has 20 years of management consulting experience across all industries and his work focuses on strategic marketing, portfolio/bundle design, and pricing optimization. He has conducted more than 80 consulting projects in Europe, Southeast Asia, Middle East, Oceania, and South America. Chris is specialized in portfolio optimization, value-based pricing, pricing research, retention, and sales execution. He founded Simon-Kucher's Australia/New Zealand business in 2011, covering all industries in the region. Before that, he was responsible for telecommunications in APAC, a topic that remains his focus. He comes on to talk about how small business owners can use proper pricing to build and grow their businesses towards long-term success. This Cast Covers: A subject matter expert on pricing for the last 20 years with experience working in a variety of industries. The importance of growing businesses looking at their pricing at different stages of their growth. Demystifying the concept of the price elasticity of demand. How to start a business that makes a profit by fulfilling the needs of customers. The harm that "Jumping to conclusions" kind of pricing causes to small businesses. Using costs and competition as a guide for product pricing. The pricing assumption that cost Audi $400 Million in lost opportunity. The power of pricing: How branding, packaging, and the story around a product can help a business in the commodities space come up with its own unique price for the product. Why small businesses should not start with very customized offers when they're starting out. How Christoph worked in helping a railway company come up with an effective pricing model that enabled it to make more money and remain competitive. The effectiveness of combining behavioral economics and market research when working on pricing. Perpetual discounting and how it works without eroding the value of a brand in consumers' minds. Why large retailers should consistently collect customer-oriented data by surveying their employees on the ground. Doing optimal pricing by looking at what the data shows, what the customers give as feedback, and what common sense and behavioral economics show. How small businesses can use knowing their actual revenues, costs, and profit to do their pricing. The businesses that can use loyalty programs and why. What to do about pricing on day one of starting in business: Check whatever you do and what value it creates for your customers. Additional Resources: Influence By Robert Cialdini Monetizing Innovation By Madhavan Ramanujam Price Management By Hermann Simon Christoph on LinkedIn Music from https://filmmusic.io "Cold Funk" by Kevin MacLeod (https://incompetech.com). License: CC BY (http://creativecommons.org/licenses/by/4.0/

In this episode, I interview Kate Johansson, the Founder and Managing Director of Koja Health, an Australian company that produces a range of healthy foods that are rich in nutrients, fiber, and plant-based protein, without the excess sugar and artificial additives found in so many others. In 2014, aged 27, Kate started the business by producing and selling healthy protein bars, the only all-natural low sugar bars on the market. By the end of year one, she had made $70,000 in sales and was stocking three stores. In FY19, she got to 400 stores then 1,500 by the end of FY2020. Very soon, she expects to almost double that to 2,600 stockists, with Coles and Woolworths forming the backbone of their distribution. When she started out, she was the only full-time employee for the first three years and now has 6+ contractors. With no bank or investor funding, she started with $20,000 of her own savings, and after landing an investor on Shark Tank in 2015 (Which later fell through), she funded growth using the over $100,000 profit she made the month after the episode aired when online sales jumped to $200,000. She went on Shark Tank asking for $150,000 for 45% equity, valuing the business at $330,000 and is very glad John McGrath, the Sydney real estate mogul, walked away because now she still owns 100% of the business. She felt she had succeeded the minute she got a product on the shelf and launched, and believes that the hardest thing about growing a small business is believing in oneself. She says the one thing she would tell herself on day one of starting out in business is, "It's a good thing. You don't know what you're going to face, but you'll love what you do. You've created a business you're so proud of that makes a real difference in the industry and people's lives." Stay tuned and enjoy all that Kate had to share about her small business ownership journey. This Cast Covers: Making real nutrition snacks with their peanut butter bars as their best-selling product range Advocating for healthy eating by building a business around her passion for health and wellness. Aiming to move away from online sales to focus on their growth in terms of store distribution. Using contract manufacturers and consultants to ensure they can scale up or down much more easily. Focusing on what makes your business different when doing your marketing. Self-funding the business to success despite a failed funding opportunity from a Shark Tank investor. How she had prepared herself to kill it on Shark Tank and why she's glad the deal she was offered didn't go through. Destined for food and working towards finding the people that love what they do. Learning to deal with stress and enjoying the challenges that come with being a small business owner. Outsourcing marketing and the other tasks she's not the best at doing or doesn't enjoy doing. Growing the business strategically by bootstrapping to overcome the challenge she has had with the lack of access to capital. Trying out crowdfunding and how to successfully raise funds. How their transparency and great customer service have led to loyalty from all their customers. Doing the business more for the positive impact that it's having in people's lives rather for the purpose of making a ton of money. Changing her mindset to stop having second thoughts about the business and doubting her ability to run it to success. The power of big picture planning and how it has worked out for her. Hiring a HR consultant to help her pick the right people for her team. Using yoga and meditation to manage her energy levels in order to achieve some work-life balance. Some of the ways she invests in her own professional development. Communication and relationship: The two things that have been fundamental to her business journey. Additional Resources: Koja Health Website Blue Ocean Strategy By Renée Mauborgne and W. Chan Kim No Bullshit Leadership Podcast Music from https://filmmusic.io "Cold Funk" by Kevin MacLeod (https://incompetech.com). License: CC BY (http://creativecommons.org/licenses/by/4.0/

In this episode, I interview Rachael Ferguson, the Co-Founder, and CEO of SynxBody and the Founder of Elite Sports Podiatry. She's also a podiatry industry expert who educates her clients and the community about common (and not so common!) podiatry-related complaints. In 2011, aged 28 and with a three-year-old, Rachael started a podiatry product business with her business partner while they were both still working in their clinics. On Shark Tank four years later, they landed esteemed business person Andrew Banks as an investor and mentor. In 2017, with sales still not cracking $100,000 per annum, her partner exited and Rachael totally transformed herself and the business. In the first year on her own, she grew sales by 300%, then 170%, and when COVID hit, that slowed to 60% to 70% per annum. Beginning with two full-time employees (The business partners), the business now has three full-time employees including herself. They funded the business with their savings and Rachael funded the transformation with some investment funds which she repaid in three months. The business started off with one product and now has 16. She felt she had succeeded when within six months of taking full control of the business, she got into the biggest chemist chain in Australia, Chemist Warehouse. Rachael says the hardest thing about growing a small business is resilience, and the one thing she would tell herself on day one of starting out is, "Buckle up and prepare for the ride of your life. It's going to be tricky and super hard, but be resilient" Put your hands together ladies and gentlemen, for Rachael Ferguson. Enjoy the episode! This Cast Covers: Starting two businesses within one year and creating the best insoles on the planet. The footcare company that made foot care products that went into the pharmacy business. Manufacturing in China and selling through a diverse range of outlets all over Australia. Struggling for the first six and a half years of the business being in the trenches and not getting paid only to turn things around and achieve huge growth in the last three years. Learning how the business operates, hiring two main employees, and outsourcing to contractors in the US, Australia, UK, and different parts of Spain. Soul searching to find out why the business wasn't working and how it helped her turn the business around within six months. Changing the packaging to be more competitive and diversifying into more products. How adding incremental value led to an increase in orders. Creating neutral insoles that are suitable for most foot types from a podiatry point of view. The importance of a small business owner identifying where their demographic is before they come up with a marketing strategy. Building the business on customer service by making sure they always deliver what their customers need. How they bootstrapped using a combination of savings and loans until an investor came in. Gaining from export grants and R&D grants from the government. Being passionate about health, podiatry, and keeping people moving and on their feet. The hardest year of her business growth journey and what it taught her. The power of getting the marketing and branding right, and how a branding expert can help with that. The challenges she had with inventory management and developing an effective system around it. Creating products that help people and result in a lot of great feedback from customers. How having a business coach positively impacted her in her entrepreneurial journey. Why every small business owner should do the "Miracle Morning" Focusing on hiring like-minded individuals who share in the business vision. The value in investing in your employees and teaching them all you can do so they can do it too. Constantly working on achieving some work-life balance through proper time management. Making an everyday process of investing in her personal development. How resilience can help in growing a small business. The systems and tools they use to help with inventory management. Why every small business owner should buckle up, prepare for the ride of their life, and stay resilient. Additional Resources: Rachael's Website SynxBody Website Miracle Morning By Hal Elrod Think and Grow Rich By Napoleon Hill Winging it By Emma Isaacs The Mentor with Mark Bouris Akimbo Podcast with Seth Godin Music from https://filmmusic.io "Cold Funk" by Kevin MacLeod (https://incompetech.com). License: CC BY (http://creativecommons.org/licenses/by/4.0/

In this episode, I interview Luke Chant, the Founder, and CEO of Hotwire Heating, a wholesale distribution company that imports underfloor heating and heated towel rails, and distributes them all over Australia. Hotwire is the recommended floor heating (and/or) heated towel rail supplier for installers and some of the biggest tile and electrical suppliers in the industry. Hotwire has been featured on The Block, House Rules, Reno Rumble, and The Home Team. In 2004, he joined two of his mates in a garden shed to grow the business which sells heated flooring and handrail solutions. A few years in, his two business partners put a generous offer to him to buy them out. The process was challenging and Luke advises small business owners to choose their business partners carefully, "Just because you're friends with someone, it doesn't mean you can work well in business" Over the last 16 years, Luke grew sales 10% to 15% year on year, and he shares a superb sales tip using the T-rex email. The first year, they were featured on The Block TV show and it almost sent him bankrupt after doubling sales, shafted overnight by one of the big four banks they used for trade or import finance. He put balance and family front and center from day one and talks about a balance technique he uses to ensure the bond is strong with his four kids. He feels he's still in the process of chasing business success but highlights that personal success comes from 25+ years of marriage and four kids he not only loves but likes as people, and he's friends with. He says the hardest thing about growing a small business is funding it. The one thing he would tell himself on day one of starting out in business is, "Risks are worth it. It does pay off. It's going to be okay. Work out what you don't know and how to do it" Stay tuned for more on Luke's small business journey. This Cast Covers: Importing and distributing underfloor heating and heated towel rails plus some managed installation works for specific clients. Joining the business in a managerial capacity, buying the owners out, and running it successfully as the exclusive owner for 16 years. Leaving a cushy job with a company car to jump in feet first into the small business. Growing consistently year on year at 10% per year. Writing the article about being successful in business that went viral and got him loads of recognition. The importance of defining what success means to you as a small business owner. How he successfully marketed his business by making sure he always shows up. The power of using CRM software to conduct and track marketing activities. Taking a lot of workload off and leveraging his time better by having an automated sales process. The difficulties of bootstrapping the business from the start and the challenges of getting import financing. The critical importance of choosing partners carefully before getting into business with them. Improving on the finances side of the business that he was not good at by hiring a good financial team to do the job. Taking a huge risk by putting money meant for buying his family home into buying stock for a huge supply and how it paid off. Loving the competitive nature of business and coming up with solutions to overcome the challenges that come with it. Learning that a small business owner doesn't need to know everything to run their business when there are people who tasks can be delegated to. The value of ensuring that you keep a really good routine in your business while constantly looking at what you're trying to achieve with your business. The benefits of employing an offshore team to do the backend administration. Building a sustainable culture through constant communication with all the team members via virtual team meetings. The unique way that Luke achieves work-life balance as a small business owner. The gains of investing in a valuable business development program. The challenges he had trying to make the business work without any financial backing or another form of support from family and financial institutions. How the story of Phil Knight and Nike inspired Luke to keep going with his business. Systemizing things with Google Sites to streamline daily operations effectively. Staying conscious of the fact that risks do pay off and are worth it. Additional Resources: 10 Steps to Business Success By a Moderately Successful Business Owner By Luke Chant Hotwire Heating Website Shoe Dog By Phil Knight Small Business Big Marketing with Tim Reid Music from https://filmmusic.io "Cold Funk" by Kevin MacLeod (https://incompetech.com). License: CC BY (http://creativecommons.org/licenses/by/4.0/

In this episode, I interview Tina Tower, an Australian businesswoman, entrepreneur, author, world traveler, and high-performance business consultant. In 2014, Tina was the winner of the Australian Telstra Young Business Woman of the Year award and was named by Huffington Post as one of the Top 10 Aussie Women to watch in business. In 2004 and aged 20, Tina quit her job as a primary school teacher and started a tutoring business for primary school kids, and ran a shop selling books and toys. She grew that to three stores in seven years and started franchising, becoming Australia's youngest female franchisor at age 27. She got up to 35 franchisees before selling out in 2016 with a two-year earn-out and chucked a big Jerry Maguire tantrum at 19 months which cost her a lot financially on exit. She then started six other businesses, traveled with her family for a year visiting 28 countries, starting with a much needed 90-day digital detox to reconnect with the kids. She now has a business with four full-time employees selling online courses, masterminds, and building online course websites which took 16 months to reach one million dollars in sales and 65% net profit compared with 5% to 8% when franchising. Tina funded the first business with credit cards for a while, got a $50,000 loan at 8% from her parents as banks wouldn't lend to her, and after turning down investment, she funded the growth by moving the family out of their home to rent a dingy flat with two kids (Under three years old) living on $200 a week. She felt she had succeeded when she opened her first store and when she first franchised. The hardest thing to her about growing a small business is believing in oneself, and she says the one thing she would tell herself on day one of starting out in business is, "You're going to be okay" Listen in, enjoy, and be inspired by Tina's interesting business journey. This Cast Covers: From a tutoring center and retail store to a national franchise company, and now a successful online business. How her business grew from 0 to 35 franchises within 5 years. The exhaustion of running more than one store and how she scaled without having to micromanage things herself. Using systems and automation to build a big business with just a few staff. Doing a 10 pm to 3 am shift at a pub to supplement her income when she started her small business. The expensiveness of running a franchise system in comparison to online business. Learning to exit the right way and selling the franchise to an international education company. Going through an identity crisis that led her to chuck a Jerry Maguire tantrum which cost her financially. Considering retirement at 33 but starting six different businesses instead. Selling their house, cars, and leaving everything behind to travel to 28 countries within a year. Hitting a million dollars within 16 months from the online course business model. Working with female course creators and packaging their expertise into online courses. Sticking to 4 to 6 team members with more of a family feel to it and building the biggest, most successful business with that. The valuation of a franchise business and how opening her first business felt like the ultimate success. The look of success for Tina: Making thousands of dollars a day while sitting on a beach. The importance and power of "Showing yourself" as a small business. The lessons she learned from taking different funding options at different stages of her business. Moving out of their house to save the business and how she worked herself out of it all to achieve success. The value and effectiveness of continual learning. Developing and maintaining discipline around time and knowing when to call it. Why she moved from hiring for skills to hiring for personality. Facilitating open communication and transparency to build a kickass culture and help with business growth. Learning to achieve some work-life balance and giving more attention to her health and wellness. Investing in her personal development through a private business coach, business networks, masterminds, and courses. The best decision she made in building a board of directors. The importance of knowing how to set up a business with the goal of either selling it or owning it for the long haul. Additional Resources: Tina's Website One Life By Tina Tower Tina's YouTube Channel Radical Candor By Kim Scott The 4-Hour Work Week Her Empire Builder Podcast Music from https://filmmusic.io "Cold Funk" by Kevin MacLeod (https://incompetech.com). License: CC BY (http://creativecommons.org/licenses/by/4.0/