Grow A Small Business Podcast

In this episode, Troy interviews James Price the Founder, and CEO of Mirus Australia based in Sydney, Australia. James has set up an advisory and technology business in the aged care sector to help fix business problems for clients by using technology business processes that they call "business co-sourcing arrangement" that allows teams stay on top of those revenue management issues. With over 9 and a half years at PwC and towards the end of that tenure, James works in the health space with his partner Rob Covino to solve a key problem for aged care clients. And after about a year they decided to take the plunge and then go out and build business themselves. Mirus Australia was established in 2010 and has been in operation for about 13 years already with over 55 FTEs. Jame has said that growing a small business involves focus and repeatability. So he mentioned, "Focus and repeatability are very important because you're a small business and you're very agile, there's a temptation to have a go at lots of different things." This Cast Covers: Running an advisory and technology business in the aged care sector. Been working out for almost 13 years already. Maintaining full entitlements from the government for aged care funding. Started off in a revenue space in terms of government subsidy, then moved into CRM marketing. Helping manage rostering and workforce management. Created a method called 'process companion' to support the regular routine of financial analysis reporting throughout the month. The effectiveness of business-to-business marketing in the early stage of your small business. Practical tips for an easier bank funding deal. Benefits and efficiency of putting a process into an IT system. Discussing the importance of knowing what you can do and what you can't do. Links: James Linkedin James Twitter Additional Resources: Mirus Australia Quotes: "When you're a small business, you've got to recognize what your strengths are." —James Price "If there's a good business process, let your clients hear." —James Price "You can't be all things to all people." —James Price "If you're putting a process into an IT system, then you immediately get the benefits." —James Price "You have to sit back from time to time and look at the bigger picture." —James Price

In this week's Quick Fire Friday episode, Rob interviews Ethan Singer, co-founder at Fundabl based in Sydney, Australia. Fundabl was founded in 2021 by a passionate team on a mission to support the Australian ecosystem to thrive and scale by offering a suite of fast, flexible and non-dilutive funding solutions to growing businesses. Fundabl's funding solutions caters to a wide range of businesses, in particular software and tech-enabled businesses, professional services businesses and other online businesses. The team can provide funds within in as little as 24 hours and is typically used to smooth cash flows, accelerate business growth and to bridge or complement a capital raise. The current macro environment has made it challenging for many businesses to obtain funding. Alternative funding options continue to play a vital role in supporting the growth of businesses. "It is so important that business owners are aware of the funding options available to them, their various characteristics, benefits and flaws. There is more than one way to construct the capital stack, and you want to make sure that you go with a capital partner that best suits your needs" Ethan said. This Cast Covers: Background to Ethan Singer and the inspiration behind Fundabl Difference between dilutive and non-dilutive funding. Advantages of maintaining equity ownership. The differences between various debt products – what to look for. Fundabl's offering Which business owners are using Fundabl and what Fundabl are solving for these businesses Benefits to getting capital from Fundabl to a big bank. The simple process to get funding from Fundabl. Built their own proprietary underwriting model to quickly assess and analyse clients and to provide them with a trading limit and the cost of funds. What Fundabl requires in order to support a business and what is sometimes missing when clients come to Fundabl Ethan shares advise to business owners to navigate the current funding environment Links: Ethan's Linkedin Additional Resources: Fundabl Quotes: "Don't leave things too late to approach your potential funder, put yourself in the best scenario, and have the greatest chance of being able to receive funding." - Ethan Singer "There is more than one way to construct your capital stack." – Ethan Singer " Founders and business owners might not necessarily be the most naturally skilled capital allocators so there are lots of resources and people to speak to that can support in choosing the most optimal funding option." – Ethan Singer "See if there is a more optimal and effective way to grow your business using alternative funding options." – Ethan Singer

In this episode, Troy interviews Dr. Ben Jansen, former Executive Director of Cronos Australia. Dr. Ben co-founded a business to provide a seamless approach to patient treatment pathways, streamlined pharmacist access to legal medications, and unparalleled prescriber education, developing industry-informed clinicians. From being a trained doctor in New Zealand, Dr. Ben Jansen ended up in the cannabis space as it had a lot of interest back in the day and ministered to cannabis and still is. Dr. Ben has said that growing a small business requires a routine around knowing your space because things can change. "Don't ever set and forget, things will change depending on your space. And medicine and health, it'll change pretty rapidly. Some will come and just do the market. And you still have to be agile enough to move around and develop" he added. This Cast Covers: Running the largest wholesaler of medicinal cannabis in Australia. Focusing on the field of medicine and business management. Providing a seamless approach to patient treatment pathways, streamlined pharmacist access to legal medications, and unparalleled prescriber education. Went from having six people family business to about 122 employees within the company in just 7 years. Discuss the efficiency of considering work as if it is not your job but an opportunity to help other people's lives. Shares how learning your craft, knowing your legislation, and your space can help you in marketing a fast-growing business. Practical tips on how to adequately fund your business with your own money and through crowdfunding. Emphasizes the difficulties and potential problems in managing a rapid growth business. Benefits of crowdfunding in starting up a small business. The necessity of developing and maintaining a routine around knowing your space. Links: Dr Ben's LinkedIn Additional Resources: Cannabisdoctorsaustralia.com.au ——————————————————————————————— Quotes: "You have to keep your finger on the pulse, especially if you're spending your own money at the beginning." —Ben Jansen "Success is when you get a client come back, and they give you a phenomenal story, that's probably the most important one." —Ben Jansen "Know your craft, know your legislation and know your space." —Ben Jansen "If you're not running correctly, you just end up putting your handout for more money again, and again." —Ben Jansen "You need to learn how to spend less than you earn." —Ben Jansen ———————————————————————————————

In this Grow A Small Business Podcast episode, Troy interviews Troy Trewin interviews Ben Cashman, the owner of Tinkle, a bamboo toothbrush and dental floss subscription business based in Hobart, Australia. Ben also talks about his background and the journey that led him to start Tinkle. He also discusses the business model, which focuses on reducing plastic waste in Australian bathrooms. He also mentions his other ventures, including The Project Lab, a management consulting business, and Electric Highway Tasmania, a for-profit business that installs electric vehicle charging stations. The conversation concludes with Ben discussing the habit of not getting comfortable and complacent in business and the importance of consistent business development. Finally, he shares his hiring advice, emphasizing the importance of hiring slowly and firing fast while focusing on cultural fit and core competencies. This Cast Covers: How they've known each other Where the idea of a sustainable toothbrush came up Overview of Tinkle's business model and its mission to remove plastic waste from Australian bathrooms Troy Trewin sharing his experience as a Tinkle subscriber and the enjoyment he and his daughter have with the bamboo toothbrushes The challenges they had The most stressful point of the small business growth journey How he handled balance Why Consistency is key in a business The moment he felt like he had succeeded How The Project Lab and Electric Highway Tasmania was started and funded Links: Ben's LinkedIn Additional Resources: Tinkle The Project Lab Electric Highway Tasmania The Hard Thing About Hard Things: Building a Business When There Are No Easy Answers by Ben Horowitz Culture is Everything by Tristan White Quotes: "The whole mission of Tinkle is to remove plastic waste from Australian bathrooms."—Ben Cashman "My biggest lesson is to hire slowly and fire fast and in a nice way politely." —Ben Cashman "It's going to get hard before it gets easy. So stick with it." —Ben Cashman "Tinkle was started with the sole purpose of working out whether we can do it, like can we actually create a passive income business?" —Ben Cashman "Some things you'd think you'd never make a mistake on, can get you." —Ben Cashman

In this week's Quick Fire Friday episode, Rob interviews Troy Trewin, based in Hobart, Tasmania. Troy is the founder of Grow A Small Business. His current mission is he sits on a handful of boards of directors of different companies, helping them get established; growing their small businesses into something bigger by teaching them the ways to generate funding through coaching. There are different ways to generate working capital for a business venture. A few examples are Venture Capital, Grants, and Crowdfunding. Among the three, the latter has gained significant traction in recent years, because crowdfunding has enabled businesses to raise hundreds of thousands or millions of dollars from anyone with money to invest; a prime example would be Zero Co, in which they managed to raise $5 million in six hours and 27 minutes. Troy helps small-medium business owners who choose to go down this path, by working on the pros and cons, the dos and don'ts, and the overall plan of the crowdfunding campaign to make sure it is a success. This Cast Covers: Raising working capital for a business venture through crowdfunding. Experience that Troy has in the field of crowdfunding. How crowdfunding works and the various forms it can take. Cases of effective crowdfunding campaigns. Steps a small-medium business owner should take before crowdfunding. Positive aspects of crowdfunding campaigns. The drawbacks of crowdfunding campaigns. Considerations for small-medium business owners before using crowdfunding for growth. Links: Troy's Linkedin Troy's Company Website Additional Resources: GASB - Crowdfunded Crowdfunded by Mark Pecota, Brad Enright Quotes: "There are two ways you can crowdfund, pre-sales and equity crowdfunding." — Troy Trewin. "You shouldn't be desperate, you need to plan it out." — Troy Trewin.

In this episode, Troy interviews Damian Andrews, the founder of SHAIR. He's based in Melbourne, Australia. He does consulting work for big companies focused on improvement and efficiencies that grow revenue and profit, all in all, benefiting the well-being of the business, and that is what SHAIR is all about, improvement and innovation. SHAIR stands for strong, healthy, and inspiring relationships. A living reminder that if we look after others, we're making a better world. To implement meaningful change, one must start from within. Before intending to increase revenue, profit, or a different aspect of their business, small-medium business owners should begin with their habits. Damian helps them through his programs they run on the continuous improvements module such as Exceptional Effort, Unconscious Rapport, and many more. Inspiring small-medium business owners to change, to take ownership. When asked about the number one thing he'd recommend for marketing a fast-growing business, Damian answered, "Understand the ratios." Striking perfect balance in the areas of sales, marketing, operations, and administration. Maximizing efficiency, customer satisfaction, and long-term growth. This Cast Covers: Profitability and revenue growth go hand in hand. Changing your habits to increase profit, revenue, and employee satisfaction. Motivating individuals to assume responsibility. SHAIR stands for strong, healthy, and inspiring relationships. Instilling moral values in family members. Understanding the ratios in marketing a fast-growing business. Striking a balance between sales and marketing. Saving capital to keep the business afloat during difficult times. The value of listening and asking questions as information-gathering tools. Hiring employees with high moral standards. Links: Damian's Linkedin Damian's Company Website Additional Resources: SHAIR.care Podcast The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It by Michael E. Gerber Quotes: "We're linked to habits in what we do." — Damian Andrews. "Inspiring people to want to change to take ownership." — Damian Andrews. "Allow people to feel appreciated, and part of that is listening." — Damian Andrews. "Your focus is always finding out about the character of the person." — Damian Andrews. "Just focus on the key things at work." — Damian Andrews.

In this episode, Troy interviews Maria Halasz, the CEO & Co-Founder of Stride Equity based in Sydney, Australia. Stride Equity is Australia's first venture-backed equity crowdfunding platform providing cornerstone investment of up to 20% to all companies successfully raising capital on the crowdfunding platform. Stride Equity is focused on closing the funding gap for emerging businesses while providing wholesale and retail investors access to pre-vetted investment offers. Originally from Hungary, Maria emigrated on her own to Perth, Western Australia at the age of 20. Commencing a degree in medicine, she spent several years studying before being awarded a Bachelor of Science (Microbiology) from the University of Western Australia in 1992 before impressively gaining her MBA (Finance) in 2000. Maria started her executive career in a biotechnology company, which led to work in VC funding technology-based businesses and, later, senior positions in corporate finance and venture capital executing IPOs, including private capital raisings and assisting with global expansions, specialising in life sciences. Maria then spent 16 years as the founder and CEO of ASX-listed company Anagenics Limited Ltd. before co-founding Stride Equity in 2023 with her former Investec colleagues, Jon Brett and Alan Chonowitz. Growing with 5 FTEs and growing companies with a few million dollars in valuations to billion-dollar businesses with 20% equity. Maria says starting a venture-backed equity crowdfunding platform that provides investment and funding to early-stage companies at the moment when inflation and interest rates are going up necessitates preparing for the challenges and opportunities that come with it."There are so many things that are hard in growing a small business. You need to invest in your people and you need to invest in your growth", she added. Maria is also a Non-Executive Director of the Garvan Research Foundation and an advisor to the Digital Health CRC and NSW Councillor of the Australian Industry Group (AiG). This Cast Covers Launch of Australia's first venture-backed equity crowdfunding platform Partnership with senior directors with 30 years of investing experience gives confidence to the crowd and companies. Maria's background in biotech, corporate finance and venture capital Investing in and growing companies with a few million dollars in valuations to billion-dollar businesses. Importance of working with who you know and who you trust in business. Significance of clear communication in marketing a fast-growing business. Take on raising money with the current situation of the world. Two stressful points in a small business growth journey. Area of business to work on the most to add the greatest value. The biggest mindset shift in the small business growth journey. Two habits that small business owners need to develop and maintain. Links: Maria's Linkedin Additional Resources: Stride Equity How to Invest Book by David M Rubenstein Quotes: "Success is like happiness and joy, it's temporary. And it's a state of mind." —Maria Halasz "If you want to be the first movers, we better get ready to jackhammer, because you have to break down some walls." —Maria Halasz "You need to invest in your people, not just money but time and also your thoughts and your growth." —Maria Halasz "They're thinking and just going through and understanding how people think about investing is very important for me." —Maria Halasz "Timeboxing is to allocate a certain amount of time for each task at the beginning of your week so that you've got a plan of how you're going to get through your million lists." —Maria Halasz

In this week's Quick Fire Friday episode, Michael interviews Henry Stewart, Founder and Chief Happiness Officer of Happy. He's based in London, UK. Happy was rated the top 2 best workplaces in the UK last year and the top 15 in Europe. Happy, originally established as Happy Computers, is now focused on helping other organizations achieve what they've done; create great workplaces. Happy helps small-medium business owners with its values that equate to a happy, productive workplace; but the most important is believing in the best in your staff. People work best when they're trusted and given the creative freedom to make excellent decisions for the business, minimizing micromanagement, and focusing more on empowerment. This, paired with the implementation of the four-day workweek, Happy gained a 40% increase in sales last year and grew 25% each year. Happy workplaces are far more productive than unhappy workplaces, Henry said, "Trust your people, trust your people to step out into decision-making." Implying that small-medium business owners should promote empowerment and autonomy, which can lead to greater creativity and innovation within their business. This Cast Covers: Tips on how to create a happy, productive workplace. Assisting other organizations in building a happy workplace. Gains that come from having confidence in your employees. Providing people with freedom within established guidelines. Developing a core set of values for your organization. Doing away with unnecessary levels of management. Giving your employees real accountability and responsibility. Improvements in productivity with the implementation of the 4-day work week. Becoming more productive through Happy's Productivity Blitz. The stark difference between a positive and negative work environment. Links: Henry's Linkedin Henry's Company Website Henry's Twitter Additional Resources: The Happy Manifesto: Make Your Organization a Great Workplace by Henry Stewart Quotes: "People like freedom within guidelines." — Henry Stewart. "As the owner of the business, you're not always the best person to know what to do, you need to trust your people." — Henry Stewart. "Don't tell people what to do. Instead, build confidence, ask questions, and help people find their solutions." — Henry Stewart. "Stop making decisions if you're the business owner." — Henry Stewart. "Get people to play to their strengths." — Henry Stewart.

Join Troy in this episode as he interviews Martin Gorm Pedersen, the CEO & Co-Founder of RequirementONE, a Dane who has recently relocated with his family to Hobart, Australia. The company delivers a web-based platform that offers real-time access to global regulatory developments in any language that has the potential to impact a client's business. Since being established in 2020 RequirementONE has experienced solid growth, boasting a subscription base that has grown between 35% and 40% annually, with a daily active user engagement ranging from 45% to 50% and weekly and bi-weekly usage reaching close to 90%. With 12 full-time equivalent staff, Martin shares his insights on the challenges and opportunities of starting a distributed software business, emphasizing the importance of the right skill sets and dogged determination to succeed. Tune in to hear about key takeaways from Martin's experience as a serial entrepreneur covering multiple business topics. This Cast Covers The entrepreneurial journey from Denmark, to the UK, Silicon Valley and Tasmania. Discuss the pain points of enterprises that lead to the creation of RequirementONE. Core business KPIs. Incorporate AI to accelerate customer value. Key learning points from building various businesses. Key metrics for defining success. Importance of looking for the "right partnership" in marketing a fast-growing business. The biggest stressor in the business growth journey. The single most important piece of advice for ambitious small business owners. Links: Martin's LinkedIn RequirementONE - LinkedIn RequirementONE - we help companies action regulatory change Additional Resources: The Millionaire Mindset Book by Paul J. Stanley Buy Back Your Time Book by Dan Martell Unroll.me - aggregate email newsletters Pocket - digital scrapbook with tagging Quotes: "Going through the journey of building a business is like walking up a staircase where each new step requires a different mindset, skills, systems and people." —Martin Gorm Pedersen "If you can't get potential customers to pay for your products or services, then no amount of other people's money will make you successful." —Martin Gorm Pedersen "Success is building a business that does not rely on you." —Martin Gorm Pedersen "Creating a repeatable go-to-market strategy without pouring tons of money into getting some sort of traction is by far the hardest." —Martin Gorm Pedersen "Find one or two people that have done exactly what you're trying to do, and then get them onboard to help you out." —Martin Gorm Pedersen

In this episode, Michael interviews Ian Whitworth, co-founder of Scene Change, Australia's most-awarded AV company. He's based in the Greater Sydney Area. Ian had the most obscure career path; he started as a vet, then a cab driver, and is now a leading figure in the audiovisual industry. After 17 years, Scene Change is still going strong. As a live event business they were shut down for nearly two years, but they survived by creating TV-style impact for virtual events with a national network of high-end virtual event studios, saying goodbye to boring home-office Zoom calls. This allowed them to keep 95% of their people, unlike many in their industry, so the company was strongly placed to bounce back when live audiences returned. Scene Change has debuted in several locations, including Adelaide, Brisbane, Hobart, Hunter Valley, Melbourne, and Sydney. Since its establishment, its growth has always been steady. In the previous year, they generated $1,000,000 in revenue. Despite being a capital-intensive business, they are experiencing an impressive 25 to 27% compound annual growth rate each year, overcoming all odds, including the challenges given by COVID, and most importantly, they are sustaining their growth. Ian Whitworth heavily emphasized consistency, especially in marketing a fast-growing business. "Great brands, profitable brands are built on just being consistent." It takes a long time for people to hear and understand the many points of difference you want them to understand. Rome wasn't built in a day, and neither is your brand. Find your audience, find your niche, and niche down. This Cast Covers: Challenges brought by COVID to small-medium businesses. Innovating the business model to the present-day situation. Ian Whitworth's obscure path to the audiovisual industry. Scene Change's steady and sustained growth over the past nine years. Starting businesses in areas in which you're knowledgeable. The significance of consistency in building your brand. Learning as much as you can about your business's many functions. Sales are a crucial component in establishing brand loyalty. Avoiding hiring a narcissist that can be detrimental to the team culture. Perseverance is the key to success in the face of adversity. Links: Ian's Linkedin Ian's Company Website Ian's Blog Additional Resources: Undisruptable by Ian Whitworth Alchemy: The Dark Art and Curious Science of Creating Magic in Brands, Business, and Life by Rory Sutherland Quotes: "We allow them a lot of freedom, control is overrated." — Ian Whitworth. "If you're special to a smaller group of people, then you'll be more profitable." — Ian Whitworth. "Great brands, profitable brands, are built on consistency." — Ian Whitworth. "Learn to live cheaply yourself, and reinvest." — Ian Whitworth. "It's persistency that gets you through most of these things." — Ian Whitworth.