Grow A Small Business Podcast

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/

In this episode, I interview Damian Mackey, a master distiller of whisky and gin and the founder of New Town Distillery in Hobart, Tasmania. In 2005, he started building a small distillery (Mackey's Distillery) in his backyard in Hobart, and in 2007, filled their first cask with triple distilled Irish style single malt whisky, which was matured five years later. In 2014, he partnered with Sheena state, moved, launched an award-winning Gin, took on investment, and went from using a single 300 litre still at home to a 4,500 litre and two small stills. The distillery grew from laying down 400 litres to around 100,000 litres, and recently sold out of a large business to return to distilling at home where he is now doing about 8,000 litres a year. Damian recommends investing 10% to 20% of sales into marketing, and finding an expert to work with. He went from 1 full time employee to 6, then back to 1. He insists that business and financial planning using KPIs, ensuring you're well funded, and getting and keeping mentors are crucial to success. He believes the hardest thing in growing a small business is, "Balancing the resources you pile back into the business". The advice he would give himself on day one of starting in business is, "Make sure you're doing something you're passionate about, is unique, and has a point of difference" Stay tuned for more on Damian's entrepreneurial journey. This Cast Covers: Moving from distilling as a hobby to being the only commercial scale distiller doing triple distilled single malt whisky in Australia. From a 300 litre still to a 700 litre still: Damian's whiskey-making back story. Their move back to smaller scale distilling and their current phase of laying down barrels. Developing and launching their award-winning Poltergeist gin. Being the only distillery doing pot still whisky and encouraging others to try it out. Learning a lot from doing 100,000 litres a year to the current 8,000 litres a year. The importance of getting down a marketing plan and working with an expert in the area. Making things easier and ensuring sustainable growth by automating production processes. Funding the business from their own savings and how they benefited from a state government grant. How plenty of funding would help in building a large distillery. The challenge of leaving Shene Distillery to go back out on his own. How a small business owner can get their head around their startup business through business planning. Continuous measuring of real-life results against results projected during business planning. Ensuring employees are passionate about their work and always on the same page as a team. The value of online courses: Reading a lot about making whisky. The extra effort that has to be put in when a business is owned by partners. The challenge of balancing the resources that are piled back into a business. Starting businesses that we are passionate about so we can courageously face the challenges that come with it. Additional Resources: The Irish Whiskey 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 Christina Bellis, the CEO of Thankyou Payroll. The company was founded in 2010 and to date they've processed over two billion pays or 3.5 million payslips to charities and small businesses in New Zealand. From NZD7,000 in year one to now NZD2.7 Million in annual sales, they are profitable and just paid their first dividend. They are one of the first social enterprises/businesses that raised funds through equity crowdfunding in New Zealand to do so. By their separate charitable trust they have donated hundreds of thousands of dollars to communities in Dunedin, Wellington, and Christchurch, and have a genius way to pick the next grant recipients. They provide these services to registered charities for free, saving them over one million dollars over the decade. And if that wasn't socially and purpose driven enough, they are carbon positive. The business took off in 2013 when the first CEO started, adding 192 customers that year, 3,000 the following year, then since financial year 2015, more than doubling every year. Christina started as CEO in 2015 and grew the business from 5 full-time employees to now 18.5. They have a board of five directors and they're all female. Funding has been through cash flow, a small overdraft, and in 2017, an equity crowdfundraising of NZD500,000, and picking up 165 shareholders who are brand ambassadors. She believes the hardest thing in growing a small business is managing work-life balance. The advice she would give herself on day one is, "Stay true to your vision. There's a lot of noise out there, so keep focus on your own track" Stay tuned for more on her small business growth journey. Enjoy! This Cast Covers: Thankyou Payroll: A company that offers crowd based payroll intermediary services. Running a charitable trust, an exciting innovative way to give out grants and minimizing the hoops people need to jump through. Building community resilience and strengthening connections through charitable trusts. Growing from a 7000 turnover in year one to 2.7 million turnover over a period of ten years. Adopting a purpose driven approach to business by using a product or service to do good and make a positive impact on the world. Being the first crowdfunded entity to return a dividend in New Zealand. Equity crowdfunding and giving the community an opportunity to take part in a purpose driven business. Using crowdfunding as a good marketing opportunity and how they raised NZD 500,000 from 165 shareholders through it. What you need to know when thinking about using crowdfunding as a way to fundraise and grow. Advantages of having employees with trained skills and working capacity in more than one aspect of the business. Adapting to change and having an "I Can Do It" attitude in business. Managing people, making them feel valued and keeping their spirits up when running a small business. Mentoring management teams, building capabilities and inspiring change. Creating a to do list, breaking it into bigger tasks and smaller tasks to help you in managing your time and priorities. Creating a team of people that fits perfectly into your business as they are both your biggest asset and your biggest cost. Being transparent on the big picture, adapting an open door policy for your team, and showing them that their contributions are valuable. The value of being open to feedback and learning how to process it. Managing a team that's spread out across different locations. Constantly learning by investing in different forms of professional development. Having a female only board of five directors with expertise across a number of areas. The difficulties in managing work-life balance when one is a small business owner. Additional Resources: Are You Ready to Succeed By Srikumar Rao 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 Patrick Maguire, the Master Distiller for Sullivans Cove Distillery in Hobart, Tasmania, and the Chairman of the Tasmanian Whisky Producers Association in 2012. Sullivans Cove was one of the first craft distilleries of commercial scale in Australia founded in 1996, sold in 1999, and went into liquidation in 2003 when Patrick and a few investors salvaged it. Closing the cellar door in Central Hobart and moving the distillery twenty minutes out of town into an industrial park, they invested heavily in production with a big focus on quality spirit and then marketing. In 2014, they won Best Single Malt Whiskey in the world, the first distillery to do so outside whisky's traditional homes of Scotland, Ireland, and Japan. A year later, they opened the cellar door and a year after that, the business was sold again to the current owners, and Patrick left the business in late 2019. The business grew from a handful of full-time employees to nine, down to just two after liquidation, and now twenty-three. He believes the hardest thing in growing a small business is keeping an eye on cash flow. The advice he would give himself on day one of starting in business is, "Back yourself. Have a plan. Stick to the plan. You'll go through times where you hate yourself for doing what you're doing, but it will all work out" Stay tuned for more on Patrick's inspiring small business growth journey. This Cast Covers: His business backstory and how everything led him into the distilling business. The uphill task of getting Australians and the world to buy Tasmanian whisky at a time when it was not so popular. Overcoming the initial production nightmare by moving to a better location and improving on marketing to increase sales. The patience all the partners had to master until the business was cash-flow positive. Educating Australians about whisky and scotch, and the support they got from the Tasmanian state government. Valuable feedback they got from Asian importers, distributors, and retailers about their scotch and how it helped them improve their branding. The value of investing in proper marketing and ensuring that the production and marketing teams are always on the same page. Taking time to allow their spirit to mature and get credibility for their whisky. Getting published in the whisky bible and achieving three liquid gold awards. Learning a lot from how different markets determine what product is worth buying. Becoming the first distillery outside of Scotland, Japan, or Ireland (And the first one in the Southern Hemisphere) to win Best Single Malt. The three reasons why 90% of their sales went overseas. Defying warnings from wholesalers to sell their annual stocks through Dan Murphy's. Losing 25% to 30% of their margin to get funding to cover their tax bill. The real game-changer that had them bottling every single day. Growing the team from 12 full-time employees to 22 and their casks to their current five warehouses. Their moment of success: Winning different awards, setting things up properly, having a great crew, becoming a top brand, and selling the business. The frustrations they went through trying to sell in the Australian market. The importance of the people a business owner employs and setting up a dynamic within the team. How managing the massive business growth led him farther and farther away from the team. The difference in how a business operates once their brand becomes successful. Having a business plan from the very start and sticking to it. HR Tips: Don't bring on relatives unless they have some value that they can offer. Having board directors based in the US, UK, and Spain, and the importance of constant and transparent communication. Cash is king: Keeping an eye on cash flow, sticking to the business plan, and not spending beyond your needs 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 Craig Haltom, President of Oliphant Golf Management (OGM). He is an active golf course architect and builder, and has a growing portfolio of high profile golf renovation work in the Midwest. As the lead at OGM, he is very much hands-on and in the field, with a talented team of managers based in Central Wisconsin. He started out on a tractor in 2001 and then in 2013 became 50% owner. Now he owns almost the entire company after buy-out financing from his business partner Mike, who founded the company in 1996. The company provides golf course management, construction, design, and renovation. When the Global Financial Crisis hit in 2008, they went from $40 Million in annual sales to none overnight, with only one of the large golf course and real estate construction projects eventually being completed. In 2009, they built a bridge through the crisis, pivoted and started managing golf courses, now with 12 on their books. Craig's vision was to build a world class golf course in the rare sand dunes of Wisconsin, and right after the crisis, they started building Sand Valley, two 18 hole courses and a put three. With 130 full time employees stretching up to 400 in peak summer season and revenues climbing to around $40 Million a year, they grew organically through profits. He believes the hardest thing in growing a small business is, "Managing time. There's never enough" and the advice he would give himself on day one of starting in business would be to believe in himself no matter what. Stay tuned for more on Craig's super inspirational small business ownership journey. This Cast Covers: Building the biggest putting green in the world that's not attached to an actual golf course. Touching a lot of areas in the golfing industry since 1996 and doing very well. Managing 12+ golf courses in the Midwest, Wisconsin, Illinois, and Pennsylvania. Building Sand Valley while simultaneously starting a golf management company. Transitioning from running a tractor as an employee to owning most of the company. Generating revenues from straight fees, lease/shared revenue deals, and maintenance only contracts. The success in moving from managing everything personally to delegating some of the core tasks to employees. Improving on their marketing activities by hiring a dedicated marketing expert and how it led to the company's growth and success. The difficulty in getting enough time as a business owner to do a lot and do it well. Getting better at guiding against the downside: Standing where the homeruns are versus the risks. The power of systems, team leadership 101, and how they deliver value to their clients. The importance of building a company culture of people knowing each other. Overcoming the business challenges that you go through by always believing in yourself. Additional Resources: How to Fail at Almost Everything and Still Win Big Scott Adams 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 Toni Kibbey, a subject matter expert on marketing. With over 25 years in marketing, especially in small business, Toni strongly believes if you don't have a customer, you don't have a business. And that's where your marketing should be built around. Marketing is more than a logo or advertising, it's a diverse range of elements, from pricing, people, copy, packaging, and a quality product or service. For small business owners, sometimes a passion can overrule the commerciality or viability of something because you believe in it so much. You must listen to your customers before you start running into the forest looking for trees. In her experience, the biggest thing owners of fast-growth small businesses do poorly in marketing is focus. Which is where your strength (or your why) comes into play. She believes the hardest thing in growing a small business when it comes to marketing is knowledge, time, and budget. The advice she would give a small business owner about marketing on day one is, "Customer: Know who you are creating a service or product for, and who you are going to talk to. Understand who they are, what motivates them, what drives them, and why they're going to choose you" This Cast Covers: Coaching small businesses and startups in their marketing and understanding their consumers. The importance of marketing when growing a small business. Getting the optimal price point so you maximize your gross profits. Developing both your brand strategy and marketing strategy, and how powerful marketing can be for your business. The one thing small business owners focused on growth do really well. How passion and innovation can sometimes get in the way of focus. Joining a networking group to gain access to tons of resources and create a voice in your industry. Knowledge, time, and budget: The hardest thing in marketing a small business. The role of strategy and knowing your customer in ensuring success in fast growth. The magic in finding out 20 reasons why your customers choose you. Additional Resources: Toni's email - toni@elementco.com.au The Brand Gap By Marty Neumeier Start with Why By Simon Sinek Seth Godin Gary Vaynerchuk 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 Mat Weir, a tech entrepreneur and the founder of international table booking service, First Table, the only company in the world focused on helping restaurants get their first customer for the night. Mat got the idea to start the company after seeing a sign in a local French restaurant in Queenstown, New Zealand. First Table charges the customer $10 per booking and the customer gets 50% off their food at the venue. After selling his software development company in 2014, aged 29, he built the website, opened with ten restaurants in Queenstown and is now in 60 cities across 8 countries and 1400 restaurants with a goal to hit 10,000. The company has grown from one full-time employee, himself, to now 22 based in New Zealand, Australia, Canada, UK, and the Philippines. They're looking to expand their product into North America, and Europe soon. Funding has been from sweat equity and the growing profits from a very scalable business model. Mat says when building your board of directors or advisors, start with a great chair and build a board around them. He believes the hardest thing in growing a small business is, decision making fatigue (Making a lot of decisions on the fly as you go). The advice he would give himself on day one is, "Mate, you're in for a shitload of work, but it will be worthwhile". Stay tuned and enjoy. This Cast Covers: First Table: The only company in the world that specializes in getting people into restaurants at the beginning of the evening How First Table helps restaurants get diners and create a great atmosphere. The unique business model they use to make money from having 1400 restaurants in 8 countries on their platform. Being a tech entrepreneur from a young age and thriving on several tech-oriented businesses. Starting out 6 years ago as a solo founder with 6 restaurants signed up and growing to 1400 restaurants across 60 cities in 8 countries and 22 full-time employees. Working hard to build their platform and having some of the best restaurants signing up. Building a globally recognized brand that is the only one in the world doing what they do. Bootstrapping from day one and funding the business solely from cash flow. Launching in other countries in North America, the UK, and other markets. The challenges of starting out in business and the worth that comes from forging on towards the core goal. The importance of having persistence and a plan B just in case. How being a developer has helped him grow the business. The value of automation in ensuring effective processes and employee productivity. The challenges of trying to scale up and make things more efficient on the platform. Shifting from being just a developer and a one man band to learn sales. The power of time management and optimizing your output to time. Committing to bringing on business development experts and how it helped in achieving hiring successes. The value of monitoring employee happiness and engagement levels in building a great culture. Plans to launch in Manilla and how their local presence there will help in building out a sales and marketing team. Consulting mentors who can give valuable business management and growth advice based on their years of experience. Decision-making fatigue: The exhaustion that comes with making so many decisions every day as a small business owner. The power of Facebook ads in growing a business. Additional Resources: Blitzscaling By Reid Hoffman and Chris Yeh www.Medium.com 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 Mark Fennell who in late 1999, from his bedroom in Sydney, started a developer code-sharing website and the now-defunct, Flash Animation Technology. Three months later, he approached Internet.com, a NASDAQ listed company asking if they would like to buy his one-person company. From their positive response, he scrambled to partner with a tech company in Tasmania to not only look bigger to his suitor but also bulk up the team and support the fast growth needed to maximize his exit. Only three months after that cheeky email and six months after his start, Internet.com acquired the business with a twelve-month earn-out paid on active users in twelve months' time. Mark and his team of 15 full-time employees grew active users from 3,000 to 3 Million a month only a year later. Two months after the payout, the 2001 tech wreck happened. Mark was able to travel the world for a few years having sold his very fast-growing tech company within 18 months of starting it in his bedroom. He believes the hardest thing in growing a small business is managing time, and balancing with friends, partners, and your kids. The advice he would give himself on day one is legal advice, "Make sure you read contracts and understand them, and stay away from Crypto trading like Bitcoin" Stay tuned for more of his amazing small business journey. This Cast Covers: Starting a web design company and trying to teach people what the internet was. How FlashKit came about and the value it offered to the market at the time. Being in a growth mindset and the cheeky approach to Internet.com that worked out perfectly. Starting with 3,000 unique visitors per month and growing to 3 Million unique visitors per month and 600,000 active users on their forum. Seeing the monthly incremental growth of their traffic and the impact of having the opportunity to innovate. Knowing when to exit the company just before the DotCom bubble burst. What success looks like for Mark and how he enjoys working in the game development industry. Funding the business through structured deals and the current opportunities in the tech space. Being the idea person and the preference of working with people who are good at running a business. The time consumption that comes with a business's fast growth and how to deal with that. Understanding how to work towards a successful exit The importance of a small business owner learning how to maintain balance. The mistake of hiring out of desperation and how to build a kick-ass culture by listening to the employees and leading by example. Learning how to sell yourself as a business owner and some of the tools Mark uses to ensure he stays efficient and productive. Reading and understanding contracts before you sign them and the importance of consulting a professional where you don't understand. Additional Resources: The 4-Hour Work Week By Tim Ferris 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 Kylee Scott, a director, and the studio manager at Cumulus Studio. After leaving a leading architectural firm to work for a large engineering company, Kylee saw how profitable a well run professional services company can be, so she convinced her partner in Hobart and a best friend to quit their architectural jobs and in late 2011 started Cumulus studios, a national and international award-winning firm. Starting with 4 full-time employees and two of the founders working other jobs to pay the bills, they quickly grew to 18 with more than half of those females. Adding an office in Melbourne and working around southeast Asia and Australia, revenue exploded from $55,000 in 2012 to now $3 Million. In 2020, Cumulus was named one of Ten Small Architecture Firms To Watch from a leading New York architecture magazine. They have continually funded their growth from their initial savings and now profits. Kylee invests a lot in professional development and their culture, and she believes the hardest thing in growing a small business is maintaining work-life balance especially when working with your life partner. The advice she would give herself on day one is, "Don't try and work everything out on your own. Get mentors" Stay tuned for more on her amazing business ownership journey and the insights she has to share. This Cast Covers: Creating unique buildings, master plans, and spaces within a team of architects, project coordinators, and designers. Their specialization in creating and delivering unique projects instead of specializing in one sector, and how that has aided in their growth. How she learned the operational dynamics of running a professional services company to later on start Cumulus Studio with her partner. From one full time employee to 24 and $55,000 to $3 Million in sales within an 8 year period. Experiencing the feeling of success by visiting one of their completed projects after all their combined hard work. Gaining international recognition for their amazing projects and being named one of the 10 small architectural firms to watch in 2020. Bootstrapping: Working other jobs and using their savings to start the business and currently running solely on cash flow. Ensuring the office culture is not too friendly and giving priority to personal mental and physical wellness. The importance of having efficient cloud-based systems and assistants in place and delegating. The excitement that comes with fast growth and the pain of finding affordable and flexible office space. Going through a branding update process and how it's enabled the founders to embrace each other's differences. The significance of a business owner developing a habit of keeping a really good eye on the cash flow and forecasting. Setting high standards for their employees and extending their probationary period for new hires from 3 to 6 months. Consuming relevant podcasts and gaining from partly studying three units in an MBA setting. Maintaining a work-life balance when one's business partner is also their life partner. Additional Resources: Clockwork By Mike Michalowicz Freakonomics Podcast Radiolab Podcast Without Fail Podcast Cautionary Tales Music from https://filmmusic.io "Cold Funk" by Kevin MacLeod (https://incompetech.com). License: CC BY (http://creativecommons.org/licenses/by/4.0/