Grow A Small Business Podcast

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/

In this episode, I interview Ingrid Thompson, the Founder of Healthy Numbers, a training, coaching, and consulting business for business startups and entrepreneurs. She is also the host of the "So You Want to Start a Business" podcast where she interviews entrepreneurs and leaders who think big and who take action to create business success, financial independence, and to make a difference in the world. She is driven by her passion for helping people create financial well-being and especially through business ownership, and her focus is mostly working with people who are keen to explore the options of starting a business for themselves. Ingrid is also a consultant, webinar host, and author of the awesome book, "So you want to Start a Business" In 2005, aged around 40, Ingrid left a stable corporate career to start her own small business after falling in love with the agility and challenges in that sector. She helps female business owners not only know their numbers, but the right ones, like charging enough for their products and services. Ingrid helped one business owner double her prices and to the business owner's surprise, she kept all her customers. With 45% of female business owners not paying into their own superannuation in Australia, Ingrid is on a mission to reduce this number through her coaching. She funded her business solely from profits and says she felt she had succeeded when people she didn't know came to her for help. Ingrid feels the hardest thing about growing a small business is showing up each day, and the advice she would give herself on day one is, "Book time in your calendar every week to look at your numbers" This is one super resourceful episode you won't wanna miss so stay tuned. This Cast Covers: Starting Healthy Numbers 15 years ago and helping female entrepreneurs achieve the financial independence that they're looking for in the businesses they own. The absurdity of business owners not paying themselves on top of not paying into their superannuation. Adding more value to your business by hiring others to do the administrative tasks you shouldn't be doing. Building her financial solidity from working in the corporate world before she went into business ownership. Paying herself, working on her own time, investing in her professional development, and living the life that she desired most. Managing a full-time employee of two and a large team of virtual assistants. The success in having people she didn't know coming to her for help. Helping female business owners generate revenues to a level where their businesses can be viable and sustainable. How to develop a framework for finding customers and talking to them about pricing. The importance of knowing who your ideal client is and where they spend their time. Bootstrapping to fund her business solely from cash flow and Ingrid's caveat to grants. The frustrations small business owners got through when they get things wrong and how to deal with that. Getting a retail job to learn sales and investing in business coaches to overcome the challenge she had with marketing. How data highlights what's going on with a business and how difficult it is to predict what will happen with a small business. Making an impact in customers' lives and the value in asking for help when one requires it. Achieving a seven figure business by having discipline and commitment. Having the right team and HR policies in place to succeed in business. Being vigilant about expanding your knowledge and investing in your personal development. The hardship in showing up in your business every day and ensuring you have the best bookkeeping software. Booking time in your calendar every week to look at your business numbers Additional Resources: Healthy Numbers Website So You Want to Start a Business By Ingrid Thompson So You Want to Start a Business Podcast Profit First By Mike Michalowicz Glambition By Ali Brown I Built This With Guy Raz 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 Patrice Brown, the Founder, and CEO of CQG Consulting, a professional consultancy that delivers practical, creative, and cost-effective environmental and development solutions throughout regional Australia and South East Asia. She is a corporate environmental advisor with over 30 years' experience in industrial and environmental management. Aged 42 in 2003, Patrice left a long-standing engineering career to start an environmental consulting firm. Starting as the one full-time employee for the first five years, they peaked at 40 in 2011, then after a downturn in the Australian coal industry dropped to 12, and now have 32 full-time employees across five locations. She founded the business with only $20,000 of her own capital and the rest has been from cash flow. Patrice felt they had succeeded when about 18 months ago, they bid out large competitors with over 10,000 staff for many projects. She believes that small business owners should always act quickly and that the hardest thing about growing a small business is having that confidence to just do it, and being prepared to make mistakes. She says that the advice she would give herself on day one is, "Don't sweat the small stuff, embrace mistakes, just have a go, and trust yourself. If you've been looking for some guidance on how to start a business or grow the one you already have, then you won't wanna miss this episode. Enjoy! This Cast Covers: Providing environmental advice to existing industries and developers. An increase in business in the last few years due to an increased global focus on environmental conservation. Generating revenue from a consulting model that fits into every client's needs. From the sugar and timber industry, into environmental work then finally into business ownership. How she started out managing big projects as the sole employee and grew to employ up to 40 people. The lessons she learned from surviving the downturn that almost took them out of business. Beating huge competitors to secure a major contract with the Department of Defence and other moments of pride. The different ways that different business owners measure success and the holy grail that is time. The importance of understanding the kind of customers you're targeting so you can come up with an effective marketing strategy. Taking immediate action to start a business without overcommitting financially. Recruiting slowly to get the right staff and investing in them to ensure they deliver their best. The difficult experience of losing staff members to competitors and other industries. Getting personal satisfaction from being able to create a career pathway for young people. Realizing that thriving in business is all about delivering personalized service, coming up with practical solutions, building a great team, and providing value for money. Allocating time and Investing in personal health and wellness to survive in the world of business. Allowing, fostering, and encouraging innovation without micromanaging staff. Her passion for continual learning and how it has helped her progress over the years. The value in engaging with both older and younger mentors. The challenge most people have in mastering the confidence to start a business. Believing in yourself: The most valuable tool you have as a small business owner. Additional Resources: The Trusted Advisor By David H. Maister 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 Kim Bryden, CEO, and Founder of Cureate, a social enterprise based in Washington DC that aims to empower the food and beverage supply to meet the changing consumer demand. Kim has over 10 years of experience working in the food and beverage industry, and she helps small businesses build diversified revenue streams and identify new market opportunities. In 2014, aged 27, Kim decided to skip an MBA and get the experience from starting her own business. She brings the business side to companies in the local food and beverage supply, empowering them through courses, consulting, and procurement matchmaking. Starting as the one full-time employee, Kim has grown the team to four and in the six years achieved an impressive 50% year on year increase in sales. They have a big focus on their existing customers as they achieve to land the new customers and constantly look for ways to build trust. Apart from a small business competition cash prize and a minor bank loan, growth has been funded from profits. She feels they have succeeded when she hears a story come back to her about the impact of the seeds they have planted in business owners' minds over time. Kim says the hardest thing about growing a small business is, "You may have dreams, hopes, and visions for where you want to be, but you need to act in the present." The advice she would give herself on day one of starting in business is, "The vision you have is real and trust your gut." Tune in and enjoy. This Cast Covers: Cureate: Shifting the dollar back into local communities by building an empowered food and beverage supply to meet a changing consumer demand Launching online courses that are helping business owners learn how to pivot and grow their businesses. Being mindful and focusing on both financial and social capital as an entrepreneur in order to create a valuable network of people around you. The sales, courses, and consulting sides of their business model. The importance of diversifying and having duality in your revenue streams. Analyzing and assessing your sales strategy with the customer in mind. Creating a flexible business model, being aware, and appreciating the preciousness of time. Sustaining an annual growth of 50% year over year since they started. Being adaptable to changes and shifts in the market. Testing if the business idea you have is viable and that the market is actually demanding that product or service before finally venturing into it. Starting out on her own on full time to growing the team to the current four full-time employees and a number of contract employees. Avoid neglecting your existing customers in the pursuit of new customers as you market your small business. Having business metrics that help you measure, track, and assess the status of the business. Winning $10K at a pitch competition to start the business, one $30K loan, and depending solely on cash flow from revenues. The importance of clear communication and having a perspective of turning frustrating moments into growth and learning opportunities. Setting boundaries and having clear and definitive expectations in decision making. Learning to create a work-life balance. Improving your ability to relate to potential clients by making sure that you are keeping on top of other sectors in order to build trust and relationships. Focusing and thinking about the values, qualities, and culture you want to instill in your business to help guide you as you add new people to the team. Continuously consuming content and investing in your own personal development. Advantages of having a peer to peer learning that cuts across sectors and a lawyer that understands your business. Avoid getting stuck in the future projection and focus on what's happening in the present to move your goals and aspirations forward. Additional Resources: The Third Wave: An Entrepreneur's Vision of the Future By Steve Case The Misfit Economy By Alexa Clay and Kyra Maya Phillips Brene Brown's 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 John Trewin, the previous co-owner of Advanced Petroleum. At the age of 29 in 1966, John got his first job off the farm in a petrol station, bought a truck, grew the fuel distribution company, and added a business partner (which didn't end well a few years later) While he was taking some time out of the distribution game, he was approached to rebuild another distributor nearby. He went on to grow it from 1 full-time employee (himself) to 30 full-time employees, and from 0 sales to $80 Million in annual sales. The business was selling over 100 million litres a year just eight years after starting in 1989. 12 years later, the business sold for 5 times profit. John credits the team he had back then for the phenomenal success they had with the business and feels he got 90% of the hires right. He believes strongly in "Looking after your people" He and his new business partner started with a little capital and had 6 months to prove they could build the sales volume before BP gave them a long term contract. They funded their fast growth in a risky, but genius way, where they put more than $3 Million in the overnight money market for 15 months right after the 1990 recession and earned 21% or $600,000 in interest per year. With some luck and advice, they dodged losing $6 Million the business had in their bank when that bank went under a week after withdrawing all funds. John has always loved a business challenge and shares that the moment he felt they had succeeded with Advanced Petroleum was when they got through the first 6 months. He feels the hardest thing about growing a small business is choosing the right people. He says that the advice he would give himself on day one of starting a business is, "Seek more advice about running a business and in particular talk to other people who own a business, especially those who are older and with more experience" Stay tuned to gain from John's immense wealth of business wisdom. This Cast Covers: Starting in the oil industry in 1966 and having a successful 38-year journey. Taking over a failed inland storage tunnel and turning it around. How they raised funding by investing their cash flow on the overnight money market at interest rates of up to 21% per annum. Becoming more efficient so they could be both fuel sellers and transport operators. Taking the opportunity to lease service stations and how they made money from that. Dealing with the two major types of shrinkage that were affecting their business. Selling their 50% of the business to BP in a satisfactory arrangement. The satisfaction of being able to pick a good team that helped grow the business. Being one of the first companies that invested in computerization. The importance of picking the right team members to help market the business. Marketing after the first five years: Spending more on making sure they weren't going to lose business. How they came up with the name, "Advanced Petroleum" Selling some real estate to put in his share of the startup capital and how they found an opportunity in the recession back then. Understanding that there is never a need to get worked about things one can't control. Facing the stress of a broken business partnership. His pride in creating employment and seeing his employees enjoy doing their jobs. The allure of the challenge of the unknown that comes with running a small business. Having resilience, the ability to see ahead, and relying on instinct to make early calls. Looking after employees and rewarding them when they do a great job. The value he got from investing in mentors. The relief he got from exiting the business both operationally and financially. Buying a couple of small businesses after he had retired. Starting one of the first aerial photography businesses when they could only use Blimps to take photos. The hardest thing in growing a small business: Choosing the right people Growing a small business by finding a good mentor and seeking advice from more experienced business owners. Additional Resources: The E Myth By Michael E. Gerber 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 Annette Kaitinis, the Co-founder and Director of Scoot Boots Pty Ltd, Australia's only manufacturer of equine hoof boots for barefoot horses. In 2015, she formed a business partnership with her ex-farrier, Dave MacDonald, who in invented a shoe for horses. After patenting and eventually selling that, he teamed up with Annette to launch the latest business, which has seen annual growth of 25% to 120% in each of the last three years after massive first-year growth. With only five competitors in the world, they sell through over 500 stockists in Europe, the USA, Canada, New Zealand, and Australia (This is their smallest market). They went from 2 team members to 11. They grew organically with profits going back into the business to improve its processes and products and produce new sizes and accessories. Their manufacturer in Indonesia is able to produce in excess of 500 pairs of Scoot Boots a day, or in excess of 180,000 each year. The Indonesian company also warehouses and ships most of their orders. They've invested heavily in systems and technology with a big focus on excellent customer service experience. Outsourcing marketing initially is key, and they felt they had succeeded when they bought and moved into their warehouse. She believes the hardest thing in growing a small business is the first two years, and the advice she would give herself on day one of starting in business is, "Get help. It's so important to get someone to assist and advise you" Stay tuned as Annette graciously shares her amazing small business journey. This Cast Covers: Disrupting their industry by manufacturing equine hoof boots that are healthy alternative options. Serving huge markets in the United States, Canada, Europe, Scandinavian countries, New Zealand, and Australia. Designing their product to solve a major hoof protection problem. Being in an emerging market with only five competitors worldwide. Experiencing 1000% growth one year after their launch and shifting out of the startup stage into a growth stage. Continuously tweaking their product, manufacturing accessories, and the challenges they're facing during the COVID-19 pandemic. From a two-man show to building a team of 11 employees and how systems and processes have helped make operations easier. How they had to outsource their marketing to a digital marketing agency during the startup stage and why they're handling it themselves now. The successful strategy of growing their business slowly. Moving into their new warehouse, scoot boots being worn by mounted police at the SuperBowl final, and other success moments. The value of taking control back by handling their marketing in-house and focusing more on Facebook marketing. Getting various grants and growing the business solely from cash flow. The pain point in ensuring customers have the correct sized product. Improving their product and consistently ensuring the best customer experience. The excitement of running the business and loving the entrepreneurial journey. The challenges of trying to work on the business rather than in it. The importance of staying inspired, focused, and passionate about the product one is selling. Recruiting wisely to get people who are much smarter and share in the passion. Building a sustainable culture by allowing the employees to grow in the business, bring a lot to the table, and learn while working. Learning constantly from different channels and networking. The value-added from winning numerous national and international awards, and getting mentors. Dealing with the hardships that come in the first few years of starting a business. Additional Resources: The E Myth By Michael E. Gerber 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 Kate Cashman, the co-founder of Mana Movement Studio in Hobart, Tasmania. In early 2019, they took over the lease of one of the oldest yoga studios in Tasmania, increased prices, added Pilates, and pivoted to a membership model. They took it from 35 members to 300 in just over a year and another 100 online when Covid-19 hit, boosting recurring sales, and almost doubling the $360,000 per annum. They researched the customer base and asked them what they wanted before changing the business. The Founders invested heavily in systems and procedures, professional development, mentors, and coaches. Kate felt they had succeeded when the old customers felt the new business was totally different, and believes the hardest thing in growing a small business is separating business from wanting to be friends with customers and staff, and managing customer expectations. The advice she would give herself on day one of starting in business is, "You should expect roadblocks" It's going to be a fun and inspirational episode, so don't miss out. This Cast Covers: Starting and running the very first heated yoga studio in Tasmania. What yoga and Pilates should be all about and the impact they have on people's health and wellness. Exploiting the true power of personal development through yoga. Achieving phenomenal growth by shifting from quick sales to a more profitable and scalable business model. Honoring new members and their existing community with a one of a kind flash sale. Gaining 100 new members during the pandemic because of their efforts in going online. Creating a uniqueness in your business by setting up core values and cultures that differentiate you from the competition. Developing a team that brings different values, strengths, perspectives, and skills to the business in order to create sustainability. Putting up structures, procedures, and processes that help you understand what your customers' needs and wants are. The importance of encouraging and rewarding word of mouth marketing from your customer networks. Reinvesting profits back into your business as a way to fund business growth and increase its chances of longevity. The importance of getting involved in industries and businesses that align with your personal values. Creating a business that doesn't compete just based on price but the quality of service it offers. Adopting consistency in the business even when the results aren't yet visible as a tool to create trust and reliability. The importance of clearly defining roles and job descriptions of each team member. Having clear and honest communication, and regular check-ins with your staff. Investing in personal and professional development through reading books, podcasts, attending training, and having coaches. The importance of having a board in a growing business: Creating agendas, governance, making strategies, and having discussions about risks and finances. Avoiding procrastination and increasing productivity in your business. Additional Resources: Dare to Lead By Brene Brown Profit First By Mike Michalowicz The Priestess 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 Kate Goodman, the owner of Goodman Conveyancing and a licensed conveyancer. Her ex-husband and best friend started a legal firm in Hobart in 2001. After he became too unwell due to MS, Kate stepped in to run the conveyancing business, now the largest in Tasmania. Taking the helm in 2009, sales grew from $350,000 to now $2 Million a year, and a team made up of herself and one other person, to now 12 full time employees. She nurtured a very flexible and family friendly work environment as she found out early on in her career that it's hard to find a workplace that is family-first, fun, and flexible. Her daughters and their two families of 3 are in the team. They are big believers in outsourcing to experts, from marketing, bookkeeping, business consulting, to HR. Staff are key to conveyancing and Kate advises small business owners to employ staff personally and find team members who can relate to people. Kate felt she had succeeded when a few years ago sipping champagne on the ferry to Mona, her team Christmas event, had her thinking she had really done something. She believes the hardest thing in growing a small business is managing growth and getting those numbers right. The advice she would give herself on day one of starting in business is, "Learn how to say no more". Stay tuned for that and more. This Cast Covers: Doing residential conveyancing and working with both purchasers and vendors. Starting as a legal practice, how they shifted, and Kate's entire backstory. From $350,000 in annual revenues in 2009 to $2 Million in 2019. Growing the employee numbers from 2 to 19 Working in a workplace that allows you to put your family first. How numerous referrals demonstrated the kind of success she had achieved. Getting respect within the conveyancing industry. One of the major reasons why you should outsource marketing. Bootstrapping the business to grow solely from cash flow. The fear and stress that she went through within the first 12 months of taking over the business. Staff and culture: The area every small business owner should work on the most to add the greatest value. Learning as much as you can about the business so you can offer the best service to your clientele. Developing the virtue of bravery as a business leader. Employing people based more on their personality and not just their CV. Creating a culture of understanding, unity and harmony among your staff. Investing in personal and professional development to expand your knowledge base. Enhancing and growing your emotional and social intelligence skills to help you in running the business. Additional Resources: The Leader Who Had No Title by Robin Sharma Music from https://filmmusic.io "Cold Funk" by Kevin MacLeod (https://incompetech.com). License: CC BY (http://creativecommons.org/licenses/by/4.0/