Small Business Banter

@RonGauci has a rich experience base including as a #CEO #Director #Chair and #Adviser.  As a #CEO he has overseen major transformations of organisations like @fedsquare @melbournepolytechnic and @melbournestorm

Another of his roles is as a senior adviser @24HRBP (24 Hour Business Plan).

In this discussion we talk widely about why #smeowners should plan, how they can plan more easily and what the real cost  is when you don't. We cover;

• why #now is the time to start (whether it's the beginning, the middle or the end of the year)
• how to get the most from your business planning
• the core elements of business planning and the #24hourbusinessplan
• the founder @AndrewBaxter who developed the methodology behind the whole 24-hour business plan approach
• a plan on a page
• the importance #industrytrends and #marketresearch
• understanding  your #business, #market, #objectives, #vision, and #purpose - and how they drive the #strategicplan
• planning and then #implementing
• the major problem with #smes - working in the business instead of on the business
• why it's so important to take time out to work on the business to a strategic plan, and
• to bring in a new set of #fresheyes and ears (with a good understanding of your industry)
• avoiding losing sight of why you got into the business in the first place
• rememebring what you want out of it
• the  #2simplechoices

1. plan
2. don't plan

• planning to find new and better ways of doing business, and keep and find new customers
• differentiating yourself
• why just working harder doesn't make sense
• the importance of going back to your #purpose and the reasons why you set up the business in the beginning
• using a #businessplan when you go to a #financier, or are looking to #sellyourbusiness
• the three types of people
  • those that actually go out and make things happen (#disruptors)
  • those that have things happen to them (#disrupted)
  • those who just watch things happen (#passengers)
• reaching out to #trustedadvisors #coaches #mentors #advisoryboards
• the common objections to not planning
  • we already have a plan
  • don't have time or have the money
• the resulting cost is the business failing 
  
  @kerrcapital      @michaelkerr 

@BrianShrowder is a #mediatrainer and #communications #publicrelations industry expert at his own consultancy @mediacraftcomms.

After dabbling in student radio  at the University of Adelaide he had stints in #newsreporting and #journalism at the @ABC and @channel10.

Mid career he jumped across to public relations (his  second career).

In his own consulting he specialises in #crisiscommunication but in this episode he unpicks public relations for the benefit of #smallbusinessowners.  We talk about;

• why PR isn't just for #bigbusiness
• what PR is and who it impacts that are associated with your business 
• how small business owners can take advantage by getting visibility in the first place 
• the importance of building and maintaining relationships with the people who matter to you as an organization or a business e.g staff, customers, communities  
• #reputationmanagement    - what am I going to be known for? 
• how it's different to #marketing
• How do I build a positive image and positive reputation? 
• how and why @princeharry had 2 goals when doing his recent round of media promotions for his new book
• where to find  public relations agencies 
• how to think about and use  media that actually reaches your target audience
• how journalists are trained to easily detect bad PR that is really advertising in disguise
• how to be creative with your #PR - it has to be something that makes a new story genuinely new or will directly benefit people in the audience
• the expanding range of media #podcasts #webcasts and #onlinepublications 
• do-it-yourself (#DIY) options for PR
• using PR communications to offset some significant potential damage

@kerrcapital @michaelkerr

@JillWeeks has travelled widely across Australian and spoken with hundreds of people about #retirement. Where to retire? How to retire? What to do in retirement? Drawing on these stories from inspiring people Jill shares her tips on different ways to think about and 'do' retirement. 

In our discussion we cover;

• how retirement has changed in the last 20-30 years, and how this has opened up more options
• how the development of technology has allowed for retirement to involve a;
  • #profitablehobby
  • #homebasedbusiness, or 
  • #freelancework
• personal planning for life after business
• how business owners can find themsleves with little to do after they #sellabusiness to #retire 
• the impact of selling your business and retiring on a #businessowners 
• the need to rethink your approach to retirement to maintain #purpose
• the knowledge a #semiretired person can bring to another #smallbusiness
• taking a break from your business
• rethinking how to use your 40 work hours when you don't have a job or a busines
• the importance of “protecting your brain” during retirement to ensure you are continually challenging yourself

@JillWeeks has travelled widely across Australian and spoken with hundreds of people about #retirement. Where to retire? How to retire? What to do in retirement? Drawing on these stories from inspiring people Jill shares her tips on different ways to think about and 'do' retirement. 

In our discussion we cover;

• how retirement has changed in the last 20-30 years, and how this has opened up more options
• how the development of technology has allowed for retirement to involve a;
  • #profitablehobby
  • #homebasedbusiness, or 
  • #freelancework
• personal planning for life after business
• how business owners can find themsleves with little to do after they #sellabusiness to #retire 
• the impact of selling your business and retiring on a #businessowners 
• the need to rethink your approach to retirement to maintain #purpose
• the knowledge a #semiretired person can bring to another #smallbusiness
• taking a break from your business
• rethinking how to use your 40 work hours when you don't have a job or a busines
• the importance of “protecting your brain” during retirement to ensure you are continually challenging yourself

@LloydPolkinghorne was a #ricefarmer upuntil a #traumaticbraininjury caused by a mis-firing shotgun. After years of struggling physically and emotionally he needed to 'get back on the horse'. He did this by buying his local community newspaper  www.thebridgenews.com.au . It was a bold and brave step. He made it with full support of family and an internal sense that he had to do something, knowing full well farming still wasn't an option.  

In our discussion we cover;

• the importance of having something meangingful to do 
• #Smallbusiness as a vehicle for physical and emotional recovery
• how a business becomes a part of an #owners  #identity
• the impact on an in individual when work is removed from their life #purpose 
• how the opportunity to buy the local #communitynewspaper brought purpose and the opportunity to represent the community he had grown up in
• assessing the opportunity to take over the a business 
• how Lloyd’s #farming background taught him to be adaptable and think outside of the square which is what he had to do after his move into another profession
• what Lloyd learnt during the process of buying; in particular the process of being tapped on the shoulder to take over the newspaper
• the importance of having a good advisor during the process
• the role small businesses, including the local newspaper, play in a community and how the paper gives community members something to enjoy that is incredibly important to their routine 
• how the local newspaper has become a key advocate for #ruralcommunities when it comes to state governments and electorates
• addressing the challenges that can arise running a rural newspaper due to differing views across the community
• balancing the #247newscycle that comes with running a newspaper and your personal life
• how small businesses fit into #ruraleconomies and the impact on #localtourism can have
• the impact COVID-19 has had on rural and regional towns, their economies, population and consequently small businesses
• exploring the idea of moving into a #cooperativemodel of business for the newspaper
• acknowledging when time frames arise naturally and making the decision to then move on from a business
• what approach Lloyd is taking to advertise and start the process of moving on from the newspaper

Along the way Lloyd also founded www.facebook.com/Lloydswalkforwater

@LloydPolkinghorne was a #ricefarmer upuntil a #traumaticbraininjury caused by a mis-firing shotgun. After years of struggling physically and emotionally he needed to 'get back on the horse'. He did this by buying his local community newspaper  www.thebridgenews.com.au . It was a bold and brave step. He made it with full support of family and an internal sense that he had to do something, knowing full well farming still wasn't an option.  

In our discussion we cover;

• the importance of having something meangingful to do 
• #Smallbusiness as a vehicle for physical and emotional recovery
• how a business becomes a part of an #owners  #identity
• the impact on an in individual when work is removed from their life #purpose 
• how the opportunity to buy the local #communitynewspaper brought purpose and the opportunity to represent the community he had grown up in
• assessing the opportunity to take over the a business 
• how Lloyd’s #farming background taught him to be adaptable and think outside of the square which is what he had to do after his move into another profession
• what Lloyd learnt during the process of buying; in particular the process of being tapped on the shoulder to take over the newspaper
• the importance of having a good advisor during the process
• the role small businesses, including the local newspaper, play in a community and how the paper gives community members something to enjoy that is incredibly important to their routine 
• how the local newspaper has become a key advocate for #ruralcommunities when it comes to state governments and electorates
• addressing the challenges that can arise running a rural newspaper due to differing views across the community
• balancing the #247newscycle that comes with running a newspaper and your personal life
• how small businesses fit into #ruraleconomies and the impact on #localtourism can have
• the impact COVID-19 has had on rural and regional towns, their economies, population and consequently small businesses
• exploring the idea of moving into a #cooperativemodel of business for the newspaper
• acknowledging when time frames arise naturally and making the decision to then move on from a business
• what approach Lloyd is taking to advertise and start the process of moving on from the newspaper

Along the way Lloyd also founded www.facebook.com/Lloydswalkforwater

@LloydPolkinghorne was a #ricefarmer upuntil a #traumaticbraininjury caused by a mis-firing shotgun. After years of struggling physically and emotionally he needed to 'get back on the horse'. He did this by buying his local community newspaper  www.thebridgenews.com.au . It was a bold and brave step. He made it with full support of family and an internal sense that he had to do something, knowing full well farming still wasn't an option.  

In our discussion we cover;

• the importance of having something meangingful to do 
• #Smallbusiness as a vehicle for physical and emotional recovery
• how a business becomes a part of an #owners  #identity
• the impact on an in individual when work is removed from their life #purpose 
• how the opportunity to buy the local #communitynewspaper brought purpose and the opportunity to represent the community he had grown up in
• assessing the opportunity to take over the a business 
• how Lloyd’s #farming background taught him to be adaptable and think outside of the square which is what he had to do after his move into another profession
• what Lloyd learnt during the process of buying; in particular the process of being tapped on the shoulder to take over the newspaper
• the importance of having a good advisor during the process
• the role small businesses, including the local newspaper, play in a community and how the paper gives community members something to enjoy that is incredibly important to their routine 
• how the local newspaper has become a key advocate for #ruralcommunities when it comes to state governments and electorates
• addressing the challenges that can arise running a rural newspaper due to differing views across the community
• balancing the #247newscycle that comes with running a newspaper and your personal life
• how small businesses fit into #ruraleconomies and the impact on #localtourism can have
• the impact COVID-19 has had on rural and regional towns, their economies, population and consequently small businesses
• exploring the idea of moving into a #cooperativemodel of business for the newspaper
• acknowledging when time frames arise naturally and making the decision to then move on from a business
• what approach Lloyd is taking to advertise and start the process of moving on from the newspaper

Along the way Lloyd also founded www.facebook.com/Lloydswalkforwater

@NormanHall has a diverse background including business, corporate and private banking. He's also been through the process of selling a family business that his wife founded.  Now he's a specialist #exitplanner and draws on all this experience to help #businessowners protect the value they have built up in their business, and then when the time is right, plan and execute a more successful #businessexit.   

In our discussion we cover;

• the importance of having a ‘ringmaster’ for your businesses exit
• the reasons business owners put off exit planning and the consequences of this
• the challenging discussions that can arise in family businesses that have not considered an exit plan
• the timelines that are involved in exit planning
• how Norman breaks down the process of exit planning for owners into something worthy and compelling for the time and effort involved
• why business owners should see value in exit planning as an #investment
• why the very old mantra of "failing to plan = planning to fail" unfortunately still applies to many owners 
• the importance of staged exit planning because “you cannot do it all at once”
• working with the new business owner after selling 
• how Norman drew on his own experience and the experience of his wife and business partner to get their business ready to sell 
• the importance of having all your external experts taking the same approach
• why it is important for exit planning to involve #successionplanning, #businessplanning, and structuring for tax purposes as well as management purposes
• breaking down the assumptions that surround exit planning
• why problems with terminology have misled owners about exit planning, what it involves and why it is so important

CONTRIBUTORS

• Norman Hall
• Michael Kerr

KEYWORDS

• exitbydesign
• familybusiness
• businessownership
• smallbusiness
• exitplanning
• businessexit

@NormanHall has a diverse background including business, corporate and private banking. He's also been through the process of selling a family business that his wife founded.  Now he's a specialist #exitplanner and draws on all this experience to help #businessowners protect the value they have built up in their business, and then when the time is right, plan and execute a more successful #businessexit.   

In our discussion we cover;

• the importance of having a ‘ringmaster’ for your businesses exit
• the reasons business owners put off exit planning and the consequences of this
• the challenging discussions that can arise in family businesses that have not considered an exit plan
• the timelines that are involved in exit planning
• how Norman breaks down the process of exit planning for owners into something worthy and compelling for the time and effort involved
• why business owners should see value in exit planning as an #investment
• why the very old mantra of "failing to plan = planning to fail" unfortunately still applies to many owners 
• the importance of staged exit planning because “you cannot do it all at once”
• working with the new business owner after selling 
• how Norman drew on his own experience and the experience of his wife and business partner to get their business ready to sell 
• the importance of having all your external experts taking the same approach
• why it is important for exit planning to involve #successionplanning, #businessplanning, and structuring for tax purposes as well as management purposes
• breaking down the assumptions that surround exit planning
• why problems with terminology have misled owners about exit planning, what it involves and why it is so important

CONTRIBUTORS

• Norman Hall
• Michael Kerr

KEYWORDS

• exitbydesign
• familybusiness
• businessownership
• smallbusiness
• exitplanning
• businessexit

@NormanHall has a diverse background including business, corporate and private banking. He's also been through the process of selling a family business that his wife founded.  Now he's a specialist #exitplanner and draws on all this experience to help #businessowners protect the value they have built up in their business, and then when the time is right, plan and execute a more successful #businessexit.   

In our discussion we cover;

• the importance of having a ‘ringmaster’ for your businesses exit
• the reasons business owners put off exit planning and the consequences of this
• the challenging discussions that can arise in family businesses that have not considered an exit plan
• the timelines that are involved in exit planning
• how Norman breaks down the process of exit planning for owners into something worthy and compelling for the time and effort involved
• why business owners should see value in exit planning as an #investment
• why the very old mantra of "failing to plan = planning to fail" unfortunately still applies to many owners 
• the importance of staged exit planning because “you cannot do it all at once”
• working with the new business owner after selling 
• how Norman drew on his own experience and the experience of his wife and business partner to get their business ready to sell 
• the importance of having all your external experts taking the same approach
• why it is important for exit planning to involve #successionplanning, #businessplanning, and structuring for tax purposes as well as management purposes
• breaking down the assumptions that surround exit planning
• why problems with terminology have misled owners about exit planning, what it involves and why it is so important