@tamara simon discusses the challenges owners face, the value of financial awareness, and the necessity of breaking the cycle of overwork to achieve a more profitable and enjoyable business. Tamara shares insights from her book, 'The Five Little Business Pigs', which outlines strategies for building a successful business.
The discussion highlights the importance of reflection and understanding one's business dynamics to foster growth and sustainability. In this conversation, Tamara and @Michael Kerr cover;
- the importance of clarity in roles
- the necessity of #businesscoaching
- the need for strong foundational systems
- the impact of leadership behavior on staff morale and productivity.
Some takeaways;
- Success in business is often a jagged line, not a straight path.
- Many small business owners have expensive hobbies instead of profitable businesses.
- There is a system in everything; it's about finding it.
- Owners should aim to work in their sweet spot 80% of the time.
- Time management is crucial for small business owners.
- Turnover is not the only measure of success; profitability matters more.
- It's important to consciously choose the price of your commitments.
- Most businesses have room for improvement. Every business should have a coach.
- Understanding your numbers is crucial for success.
- Business systems are essential for clarity and productivity.
- Behavioral change in leadership is key to business success.
- Small business owners should embrace their role with pride.
- Reflection on business viability is necessary for growth.
- Coaching provides a sounding board for business frustrations.
- Strong foundations are built on clear roles and responsibilities.
- Employee engagement is vital for a thriving business.
- The journey of business ownership requires bravery and commitment.
@kerrcapital
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Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.
michael.kerr@kerrcapital.com.au
www.ownertoownerpodcast.com.au
