Grow A Small Business Podcast
Troy Trewin
Our weekly 30 minute podcast helps you, a small business owner with 5 to 30 team members, take your company to the next level. The Grow A Small Business community, weekly cast, blog and leadership email supports leaders get through the pain of growth.
With insights, lessons learned, books and tools as well as habits these experienced small business owners suggest you develop, our interviews unearth tremendous value for anyone wanting to grow their business with less stress.
With insights, lessons learned, books and tools as well as habits these experienced small business owners suggest you develop, our interviews unearth tremendous value for anyone wanting to grow their business with less stress.
Episodes
Mentioned books

Sep 3, 2024 • 1h 3min
Creating a Successful Business: Barbara Wardell & Ernesto Cullari on Authentic Content, Strategic Partnerships, and Navy SEAL Lessons for Overcoming Challenges & Achieving Success in Geofencing. (Episode 561 - Barbara Wardell & Ernesto Cullari)
In this episode of the GASB Podcast, host Troy Trewin interviews Barbara Wardell and Ernesto Cullari, founders of cwadagency, to discuss their journey to success. They delve into the importance of authentic content, the value of strategic partnerships, and how lessons from Navy SEALs have influenced their approach to overcoming entrepreneurial challenges. Barbara and Ernesto also share their insights on maintaining a thriving business and the revenue impact of their innovative strategies. Why would you wait any longer to start living the lifestyle you signed up for? Balance your health, wealth, relationships and business growth. And focus your time and energy and make the most of this year. Let's get into it by clicking here. Troy delves into our guest's startup journey, their perception of success, industry reconsideration, and the pivotal stress point during business expansion. They discuss the joys of small business growth, vital entrepreneurial habits, and strategies for team building, encompassing wins, blunders, and invaluable advice. And a snapshot of the final five Grow A Small Business Questions: 1 .What do you think is the hardest thing in growing a small business? Barbara Wardell and Ernesto Cullari believe the hardest part of growing a small business is having the right team. They stress that without the right people, growth is extremely challenging. They also highlight the frustration of limited understanding in their niche, underscoring the need for effective communication and education. 2. What's your favourite business book that has helped you the most? Barbara Wardell's favorite business book is The Wasabi Love, which focuses on appreciating every moment and being present. Ernesto Cullari prefers Confessions of an Ad Man for its engaging style and the Growth Hacking book, which introduced him to concepts like minimal viable products. 3. Are there any great podcasts or online learning resources you'd recommend to help grow a small business? Barbara Wardell and Ernesto Cullari recommend the Sean Ryan Show for its insights into managing stress and challenges through the experiences of former Navy SEALs. They also emphasize creating genuine, original content—such as photography or videos—to showcase expertise and enhance visibility. This approach helps build engagement and a stronger connection with potential customers. 4.What tool or resource would you recommend to grow a small business? Barbara Wardell and Ernesto Cullari recommend using original content as a key tool for growing a small business. They suggest that business owners should create and share authentic content, such as photography or videos, to showcase their expertise. Genuine content enhances visibility, engages the audience, and builds a stronger connection with potential customers. 5. What advice would you give yourself on day one of starting out in business? Barbara Wardell and Ernesto Cullari advise against trying to do everything yourself when starting a business. Instead, surround yourself with skilled, trustworthy people who excel where you might not. Building and staying loyal to a strong, capable team will help you navigate both challenges and successes. Book a 20-minute Growth Chat with Troy Trewin to see if you qualify for our upcoming course. Don't miss out on this opportunity to take your small business to new heights! Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. Quotable quotes from our special Grow A Small Business podcast guest: Don't do it all alone; build a team with skills that complement yours – Barbara Wardell & Ernesto Cullari Find people who are smarter than you in areas where you lack expertise, and they will help you succeed – Barbara Wardell & Ernesto Cullari Success comes from balancing your strengths with others' weaknesses, creating a complementary team." – Barbara Wardell & Ernesto Cullari

Sep 1, 2024 • 44min
Unlocking Growth: Jim Stevenson's Journey with Bletchley Group, scaling a client by £6M with an 6-Person Team in 8 weeks. Unveils Proven Strategies for Team Building, Cultural Transformation, and Business Breakthroughs. (Episode 560 - Jim Stevenson)
In this episode of Grow a Small Business, host Troy Trewin interviews Jim Stevenson, founder of Bletchley Group, reveals how he turned his consultancy into a leading digital firm, generating $6 million in revenue for a client, in eight weeks, with a team of six. He discusses the power of a growth mindset, shaping effective teams, and the importance of balance in business relationships. Tune in for actionable insights from his 24-year journey in the industry. Why would you wait any longer to start living the lifestyle you signed up for? Balance your health, wealth, relationships and business growth. And focus your time and energy and make the most of this year. Let's get into it by clicking here. Troy delves into our guest's startup journey, their perception of success, being a learner again when moving into a new industry, and the pivotal stress point during business expansion. They discuss the joys of small business growth, vital entrepreneurial habits, and strategies for team building, encompassing wins, blunders, and invaluable advice. And a snapshot of the final five Grow A Small Business Questions: What do you think is the hardest thing in growing a small business? Jim Stevenson highlights that the hardest part of growing a small business is maintaining motivation during tough times. He emphasizes that staying driven through challenging days, weekends, and even months is crucial for long-term success. What's your favourite business book that has helped you the most? Jim Stevenson's favorite business book is not a book but the movie "The Martian" starring Matt Damon. He finds it valuable for its lessons on prioritization and focusing on immediate problems that need solving to ensure business survival and success. Are there any great podcasts or online learning resources you'd recommend to help grow a small business? Jim Stevenson didn't recommend specific podcasts but emphasized using audio books and Get Abstract for book summaries. He also finds Notion useful for organizing tasks and values Atomic Habits by James Clear for insights on habit formation and growth. What tool or resource would you recommend to grow a small business? Jim Stevenson recommends investing in a CRM for managing customer relationships, and using Notion for organizational tasks. He emphasizes that a CRM is essential for any business, and Notion helps streamline operations efficiently. What advice would you give yourself on day one of starting out in business? Jim Stevenson would advise himself to focus on being the "McKinsey for the digital age," aiming for high-quality work and a strong reputation. He would also remind himself to build a small, capable team in key financial hubs to manage workload and achieve global reach. Book a 20-minute Growth Chat with Troy Trewin to see if you qualify for our upcoming course. Don't miss out on this opportunity to take your small business to new heights! Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. Quotable quotes from our special Grow A Small Business podcast guest: A growth mindset turns mediocre strategies into exceptional companies – Jim Stevenson Focus on what will kill you today, so you get to play again tomorrow – Jim Stevenson Shaping teams is about fitting the right skills and culture to the challenge – Jim Stevenson

Aug 29, 2024 • 23min
QFF: Resilience & Success: Jacqui Louder on Managing Ego, Embracing Failure, and Building Winning Team Culture. Insights on Burnout, Self-Awareness, and Sustained Success for Small Business Owners in Business and Sports. (Episode 559 - Jacqui Louder)
In less than 20 minutes a week, we'll introduce you to an expert or business owner with deep experience in what they do. Grow you, grow your team, grow a small business. In this episode of Grow a Small Business, host Michael Denehey interviews Jacqui Louder a Psychologist at Performe Sports Medicine. Discusses the parallels between sports and business, focusing on resilience, managing ego, and embracing failure as keys to success. She offers insights on building a winning team culture and practical tips for avoiding burnout, emphasising the importance of self-awareness and continual growth for small business owners. Key Takeaways for Small Business Owners: Resilience Through Setbacks: Success in both sports and business often comes from learning through setbacks and embracing failure as a growth opportunity. Managing Ego: Regularly challenge ego in business to avoid stagnation and encourage continuous improvement. Importance of Small Wins: Just like in sports, recognizing and rewarding small achievements in business contributes to long-term success. Our hero crafts outstanding reviews following the experience of listening to our special guests. Are you the one we've been waiting for? Preventing Burnout: Self-awareness, good time management, proper sleep, and nutrition are crucial to avoiding burnout and maintaining peak performance. Creating a Positive Team Culture: Build a strong team culture by highlighting strengths before discussing areas for improvement, fostering a growth mindset, and treating everyone fairly. Sustained Success: Focus on process-oriented goals rather than just outcomes to ensure consistent progress and long-term success. One action small business owners can take: One action small business owners can take, according to Jacqui Louder, is to regularly acknowledge and celebrate small achievements within their teams. This practice not only boosts morale but also builds momentum toward achieving larger business goals. Do you have 2 minutes every Friday? Sign up to the Weekly Leadership Email. It's free and we can help you to maximize your time. Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. 👇 Quotable quotes from our special Grow A Small Business podcast guest: Success in business, like in sports, comes from embracing failure and learning from it – Jacqui Louder A strong team culture is built by valuing character over personality – Jacqui Louder Mindfulness is keeping your head and heart in the same place, fully present in the moment – Jacqui Louder

Aug 27, 2024 • 27min
Discover Cath McDowell's journey scaling Howrah Plumbing to $12M revenue and a team of 47 over 29 years. Learn how her leadership turned a small business into a thriving enterprise with a robust company culture. (Episode 558 - Cath McDowell)
In this episode of Grow a Small Business, host Troy Trewin interviews Cath McDowell, the driving force behind Howrah Plumbing. Cath reveals her journey from managing a small business to scaling it to $12M in revenue with a team of 47 over 29 years. She shares insights on building a strong company culture and the challenges of growth. Tune in to learn how dedication and strategic leadership transformed her enterprise into a thriving success. Other Resources: Marketing Funding Flywheel Ebook Mark Ritson, ex-Business School Professor, now heads the CPD-accredited Mini MBA in Marketing with 20,000 alumni in 60 countries and a team of 8 FTEs. Craig West on how ESOPs can boost productivity by 7%-23%, triple team engagement, and double retention, plus insights on benefits, costs, and timelines. Tom Lewin on Employee Share Plans: boost staff retention, transparency. Why would you wait any longer to start living the lifestyle you signed up for? Balance your health, wealth, relationships and business growth. And focus your time and energy and make the most of this year. Let's get into it by clicking here. Troy delves into our guest's startup journey, their perception of success, being a learner again when moving into a new industry, and the pivotal stress point during business expansion. They discuss the joys of small business growth, vital entrepreneurial habits, and strategies for team building, encompassing wins, blunders, and invaluable advice. And a snapshot of the final five Grow A Small Business Questions: What do you think is the hardest thing in growing a small business? Cath McDowell believes the hardest part of growing a small business is maintaining a strong company culture while scaling. Balancing growth with the personal touch that built the business initially can be a significant challenge. What's your favourite business book that has helped you the most? Cath McDowell mentions that she doesn't have a favorite business book, as she primarily focused on training courses and practical skills for her professional development. Are there any great podcasts or online learning resources you'd recommend to help grow a small business? Cath McDowell doesn't have specific recommendations for podcasts or online learning resources for growing a small business. She prefers practical training and hands-on learning over online resources. What tool or resource would you recommend to grow a small business? Cath McDowell recommends having strong support around you as a key tool for growing a small business. She emphasizes the importance of a good team and supportive people who can help with daily tasks, job reviews, and equipment decisions. What advice would you give yourself on day one of starting out in business? Cath McDowell would advise herself to take holidays whenever possible and enjoy time off. She reflects that she never expected to stay at the same company for her entire career, and encourages balancing work with personal time. Book a 20-minute Growth Chat with Troy Trewin to see if you qualify for our upcoming course. Don't miss out on this opportunity to take your small business to new heights! Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. Quotable quotes from our special Grow A Small Business podcast guest: Being committed to your business is a long-term dedication; it's not a short-term project — Cath McDowell Feedback from employees who've worked elsewhere can be incredibly valuable and reaffirming — Cath McDowell Creating a strong company culture means valuing what happens outside of work and rewarding your team — Cath McDowell

Aug 25, 2024 • 46min
David Gaz From The Bureau of Small Projects: How He Built a Successful Business with $3.5M in Revenue, a 40-Person Team, Embraced Path-Oriented Growth, and Achieved Balance Through Zen Practices and Mentorship. (Episode 557 - David Gaz)
In this episode of the Grow a Small Business podcast, host Troy Trewin interviews David Gaz of The Bureau of Small Projects shares his journey to building a successful business with $3.5 million in revenue and a 40-person team. He discusses embracing a path-oriented approach to growth, the importance of resilience, and how Zen practices and mentorship have helped him maintain balance. Why would you wait any longer to start living the lifestyle you signed up for? Balance your health, wealth, relationships and business growth. And focus your time and energy and make the most of this year. Let's get into it by clicking here. Troy delves into our guest's startup journey, their perception of success, industry reconsideration, and the pivotal stress point during business expansion. They discuss the joys of small business growth, vital entrepreneurial habits, and strategies for team building, encompassing wins, blunders, and invaluable advice. And a snapshot of the final five Grow A Small Business Questions: What do you think is the hardest thing in growing a small business? According to David Gaz, the hardest thing in growing a small business is managing people. He emphasises that dealing with the complexities of team dynamics and maintaining a positive, productive culture can be particularly challenging. What's your favourite business book that has helped you the most? David Gaz's favourite business book that has helped him the most is "Antifragile" by Nassim Nicholas Taleb. He finds it valuable for its insights into thriving amid change and uncertainty, which he believes is crucial for navigating today's rapidly evolving business environment. Are there any great podcasts or online learning resources you'd recommend to help grow a small business? David Gaz recommends the Grow a Small Business podcast as a great resource for growing a small business. He appreciates the podcast for its engaging content and valuable insights, making it a useful tool for entrepreneurs looking to expand their knowledge and skills. What tool or resource would you recommend to grow a small business? David Gaz suggests that tools or resources that help you stay centred and resilient are essential for growing a small business. He specifically mentions meditation and fly fishing as practices that help him maintain balance and mental clarity, which can be crucial for business growth. What advice would you give yourself on day one of starting out in business? David Gaz advises that on day one of starting a business, focus less on having a detailed business plan and more on simply starting. He emphasises that luck plays a significant role in business success, and likens it to getting hit by a freight train—it only happens if you're on the tracks. Book a 20-minute Growth Chat with Troy Trewin to see if you qualify for our upcoming course. Don't miss out on this opportunity to take your small business to new heights! Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. Quotable quotes from our special Grow A Small Business podcast guest: The only thing that guarantees success in business is to never give up – David Gaz Luck is like getting hit by a freight train; it only happens if you're on the track. – David Gaz Zen practices and resilience are key tools for thriving in a fast-changing world –David Gaz

Aug 22, 2024 • 22min
QFF: Lean Marketing's Managing Director reveals how he transformed small business marketing, driving millions in revenue with a 25-member team. Uncover his secrets to creating successful strategies, metrics, and messages. (Episode 556 - Allan Dib)
In less than 20 minutes a week, we'll introduce you to an expert or business owner with deep experience in what they do. Grow you, grow your team, grow a small business. In this episode of Grow A Small Business, host Michael Denehey interviews Allan Dib, Managing Director of Lean Marketing, about his journey to creating successful marketing strategies that have generated millions in revenue. Allan shares insights on essential metrics like lifetime value and cost of acquisition, and discusses how clear messaging and understanding your target market can transform your business. Tune in for actionable tips to enhance your marketing plan and drive business growth. Key Takeaways for Small Business Owners: Define Your Target Market Clearly: Identify and understand your ideal clients in detail to tailor your marketing efforts effectively. Aim to be so specific that you can recognize your target audience in daily interactions. Focus on Lifetime Value and Cost of Acquisition: Calculate the lifetime value of your clients and the cost of acquiring them. Aim for a cost of acquisition that is a fraction of the client's lifetime value to ensure profitability. Develop a Solid Marketing Strategy: Before diving into tactics like ads or website changes, build a comprehensive marketing plan. Use it as a blueprint to guide your actions and ensure alignment with your business goals. Our hero crafts outstanding reviews following the experience of listening to our special guests. Are you the one we've been waiting for? Craft a Compelling Message: Your marketing message must resonate with your target audience. Avoid amplifying a weak message – ensure it's clear and appealing before investing in widespread promotion. Leverage Data and Metrics: Regularly track and analyze key metrics such as click-through rates, bounce rates, and conversion rates. Focus on metrics that reflect business outcomes, like lifetime value and cost of acquisition. Continuous Improvement: Regularly revisit and refine your marketing plan based on performance data and client feedback. Adapting and improving over time will help you stay relevant and competitive. One action small business owners can take: One action small business owners can take is to download and complete the "One Page Marketing Plan" available on Allan Dib's website. This simple, single-page framework helps clarify your target market, message, and strategy, providing a focused approach to guide your marketing efforts and improve business results. Do you have 2 minutes every Friday? Sign up to the Weekly Leadership Email. It's free and we can help you to maximise your time. Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. 👇 Quotable quotes from our special Grow A Small Business podcast guest: Marketing is not about throwing random tactics against the wall; it's about having a clear strategy and plan – Allan Dib The most important metrics to track are lifetime value and cost of acquisition; everything else is secondary – Allan Dib Your marketing message should be so compelling that your ideal clients feel like you're speaking directly to them – Allan Dib

Aug 20, 2024 • 35min
Mastering Team Growth: Secrets to Hiring Top Talent, Cultivating a Thriving Culture, and Balancing Professional Development | Learn from Good to Great, Effective Mentorship, and Essential Tools for Small Business Success. (Episode 555 - Lesley van Tuil)
In this episode of Grow a Small Business, host Troy Trewin sits down with Lesley van Tuil about scaling a small business. Lesley shares insights on hiring top talent, building a strong culture, and balancing professional development. They discuss key strategies, including the impact of mentorship and tools like Good to Great. Tune in for practical advice and personal growth tips for entrepreneurs. Other Resources: An easy way to measure if your customers love you in 21 minutes – use the Net Promoter Score (NPS). And it's FREE. Why would you wait any longer to start living the lifestyle you signed up for? Balance your health, wealth, relationships and business growth. And focus your time and energy and make the most of this year. Let's get into it by clicking here. Troy delves into our guest's startup journey, their perception of success, industry reconsideration, and the pivotal stress point during business expansion. They discuss the joys of small business growth, vital entrepreneurial habits, and strategies for team building, encompassing wins, blunders, and invaluable advice. And a snapshot of the final five Grow A Small Business Questions: What do you think is the hardest thing in growing a small business? Lesley van Tuil identifies the hardest thing in growing a small business as the need for constant flexibility and adaptability. She emphasizes the challenge of keeping up with rapidly changing industry patterns and making quick, effective decisions amidst evolving conditions. What's your favourite business book that has helped you the most? Lesley van Tuil's favorite business book is "Good to Great" by Jim Collins. She finds it particularly impactful for understanding how any business, regardless of its starting point, can grow into a significant, successful enterprise. Are there any great podcasts or online learning resources you'd recommend to help grow a small business? Lesley van Tuil recommends the Manager Tools podcast as a valuable resource for small business growth. The podcast offers concise, practical advice on management and professional development, making it a great tool for addressing team issues and improving business skills. What tool or resource would you recommend to grow a small business? Lesley van Tuil recommends having the right support systems as a key resource for growing a small business. This support can vary for each person but is crucial for success, providing the necessary guidance and assistance to navigate business challenges effectively. What advice would you give yourself on day one of starting out in business? Lesley van Tuil advises herself on day one of starting out in business to not focus on the small things. She suggests that many of the concerns that seemed critical at the beginning will turn out to be insignificant in the long run, and everything will eventually fall into place. Book a 20-minute Growth Chat with Troy Trewin to see if you qualify for our upcoming course. Don't miss out on this opportunity to take your small business to new heights! Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. Quotable quotes from our special Grow A Small Business podcast guest: The right people on your team are the key to unlocking extraordinary growth — Lesley van Tuil Flexibility and quick decision-making are crucial in navigating the ever-changing landscape of business — Lesley van Tuil Building a kick-ass culture starts with genuine personal connections with your team — Lesley van Tuil

Aug 18, 2024 • 39min
Passion to Powerhouse: Dave McQuillen's Sufferfest Journey: Explore how Dave scaled Sufferfest with his exceptional team, reshaped cycling culture, and the strategies behind his success and their impact on the cycling world. (Episode 554 - Dave McQuillen)
In this episode of Grow a Small Business, host Michael Denehey interviews Dave McQuillen, the founder of Sufferfest (wahooX), shares his journey from passionate entrepreneur to scaling Sufferfest into a leading cycling brand. He discusses the role of his exceptional team in reshaping cycling culture and reveals the strategies that fueled their success. Tune in to discover insights into growing a business and making a significant industry impact. Why would you wait any longer to start living the lifestyle you signed up for? Balance your health, wealth, relationships and business growth. And focus your time and energy and make the most of this year. Let's get into it by clicking here. Michael delves into our guest's startup journey, their perception of success, industry reconsideration, and the pivotal stress point during business expansion. They discuss the joys of small business growth, vital entrepreneurial habits, and strategies for team building, encompassing wins, blunders, and invaluable advice. And a snapshot of the final five Grow A Small Business Questions: What do you think is the hardest thing in growing a small business? According to Dave McQuillen, the hardest thing in growing a small business is choosing what not to do. He emphasizes the importance of focusing on what truly drives success and avoiding distractions from bright, shiny objects that can divert attention and resources. What's your favorite business book that has helped you the most? Dave McQuillen's favorite business books are "Why We Buy" by Paco Underhill and "Setting the Table" by Danny Meyer. He values "Why We Buy" for its insights into consumer behavior and merchandising, and "Setting the Table" for its lessons on customer experience and leadership. Are there any great podcasts or online learning resources you'd recommend to help grow a small business? Dave McQuillen didn't find podcasts to be particularly influential during his time with Sufferfest, but he mentioned enjoying cycling podcasts now that he's out of the industry. For growing a small business, he emphasizes the importance of tools that facilitate meaningful conversations with customers, rather than just quantitative surveys. Prototyping ideas and getting feedback directly from users is also crucial. What tool or resource would you recommend to grow a small business? Dave McQuillen recommends using tools that facilitate direct, meaningful conversations with customers. He emphasizes the value of prototyping ideas and gathering feedback through interactive discussions rather than relying solely on quantitative surveys. What advice would you give yourself on day one of starting out in business? Dave McQuillen advises that he might not give himself any specific advice on day one. He believes that if he had known how challenging and consuming the journey would be, he might have been too scared to start. Embracing the unknown and adapting as things progressed was, in his view, advantageous to his success. Book a 20-minute Growth Chat with Troy Trewin to see if you qualify for our upcoming course. Don't miss out on this opportunity to take your small business to new heights! Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. Quotable quotes from our special Grow A Small Business podcast guest: Invest in your team; it's the best way to scale your business effectively – Dave McQuillen Understanding your customers daily is crucial; it's not something you can delegate – Dave McQuillen The most transformative industry changes are often the hardest to recognize and act on – Dave McQuillen

Aug 15, 2024 • 24min
QFF: Unlocking Business Success with Greg Crabtree: From Founding Simple Numbers to Generating $20M in Revenue with a 30-Member Team - Essential Financial Strategies for Small Business Owners to Maximize Profit and Growth. (Episode 553 - Greg Crabtree)
In less than 20 minutes a week, we'll introduce you to an expert or business owner with deep experience in what they do. Grow you, grow your team, grow a small business. In this episode of Grow a Small Business, host Michael Denehey interviews financial expert Greg Crabtree from Carr, Riggs & Ingram (CRI) shares the principles behind his company, Simple Numbers, which successfully generated $20M in revenue with a lean team of 30 members. Greg discusses key metrics for small business success, including the importance of maintaining two months of cash flow and the Total Labor Efficiency Ratio (LER). He offers actionable insights for optimizing profitability and managing capital effectively. Key Takeaways for Small Business Owners: Simplify Financial Reporting: Use Simple Numbers to present financial data clearly and make it actionable, moving beyond traditional accounting practices. Focus on Gross Margin: Prioritize gross margin over revenue to accurately assess business health and profitability. Revenue alone can be misleading. Implement the Total Labor Efficiency Ratio (LER): Aim for $2 of gross margin for every $1 of labor to ensure efficient use of resources and boost profitability. Our hero crafts outstanding reviews following the experience of listening to our special guests. Are you the one we've been waiting for? Maintain Two Months of Cash Flow: Having two months of operating expenses in cash and zero line of credit debt is crucial for financial stability and effective decision-making. Avoid Overcapitalization: More than two months of cash can lead to complacency. Properly manage excess capital to avoid underperforming investments. Use Rolling 12-Month Data: Analyze financial metrics over a rolling 12-month period rather than monthly to get a more accurate picture of business performance. One action small business owners can take: One actionable step small business owners can take is to calculate their Total Labor Efficiency Ratio (LER). Aim to achieve at least $2 of gross margin for every $1 spent on labor. This metric will help you gauge labor efficiency and ensure that your business is operating profitably. Do you have 2 minutes every Friday? Sign up to the Weekly Leadership Email. It's free and we can help you to maximize your time. Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. 👇 Quotable quotes from our special Grow A Small Business podcast guest: Revenue is vanity; gross margin is reality – Greg Crabtree The most important number on the P&L is the contribution margin, not profit – Greg Crabtree Simplify your financial data to make it actionable and insightful for better decision-making – Greg Crabtree

Aug 13, 2024 • 38min
Mastering Business Success with Nikki Chamberlain: Discover How Outsourced HQ Achieved $600K Revenue and Grew to 23 Team Members—Insights on Building a Strong Culture, Strategic Mentoring and Sustainable Growth Practices. (Episode 552 - Nikki Chamberlai
In this episode of Grow a Small Business, host Troy Trewin sits down with Nikki Chamberlain, Founder of Outsourced HQ, shares how she reached $600K in revenue and scaled to 23 team members. She delves into her strategies for building a dynamic company culture, the significance of strategic mentoring, and approaches to sustainable growth. Tune in for actionable insights and key strategies for driving business success. Why would you wait any longer to start living the lifestyle you signed up for? Balance your health, wealth, relationships and business growth. And focus your time and energy and make the most of this year. Let's get into it by clicking here. Troy delves into our guest's startup journey, their perception of success, industry reconsideration, and the pivotal stress point during business expansion. They discuss the joys of small business growth, vital entrepreneurial habits, and strategies for team building, encompassing wins, blunders, and invaluable advice. And a snapshot of the final five Grow A Small Business Questions: What do you think is the hardest thing in growing a small business? Nikki Chamberlain believes that the hardest thing in growing a small business is moving out of a reactive mindset. It involves delegating tasks effectively and trusting others to handle responsibilities, even if they might not execute them with the same precision or capacity as the business owner. This shift from managing every detail to empowering a team is crucial for sustainable growth. What's your favourite business book that has helped you the most? Nikki Chamberlain's favorite business book that has helped her the most is "The Diary of a CEO" by Steven Bartlett. She found it particularly insightful for its practical advice on business and personal development. Are there any great podcasts or online learning resources you'd recommend to help grow a small business? Nikki Chamberlain recommends the "Build" podcast by Layla Hall-Moses, which focuses on building effective teams and fostering a strong company culture. For online learning, she suggests exploring resources that emphasize team dynamics and professional development. What tool or resource would you recommend to grow a small business? Nikki Chamberlain recommends using a CRM tool like Dubsado. It helps automate up to 80% of daily paperwork, including client onboarding, forms, contracts, and communications, streamlining operations and maintaining long-term client relationships. What advice would you give yourself on day one of starting out in business? Nikki Chamberlain would advise her day-one self to ask for help sooner and to avoid being too proud. She emphasizes the importance of reaching out for support and guidance early on, rather than trying to handle everything alone, even if it feels daunting. Book a 20-minute Growth Chat with Troy Trewin to see if you qualify for our upcoming course. Don't miss out on this opportunity to take your small business to new heights! Enjoyed the podcast? Please leave a review on iTunes or your preferred platform. Your feedback helps more small business owners discover our podcast and embark on their business growth journey. Quotable quotes from our special Grow A Small Business podcast guest: Don't let pride keep you from seeking the help you need to succeed – Nikki Chamberlain Effective mentoring is a cornerstone of sustainable business growth – Nikki Chamberlain The cost of replacing great staff far exceeds the investment in their happiness and growth –Nikki Chamberlain


