In this conversation, @Michael Kerr and @Amy Christopherson, founder of @Grounded HR, discuss her pathway into small business ownership, the importance of HR in small businesses, and the challenges faced by business owners.

They explore the significance of leadership in employee engagement, navigating difficult conversations, and building a positive workplace culture. Amy shares insights on #exit planning, #employee ownership, and the impact of #remote work on business operations. The discussion emphasizes the need for a growth mindset and the importance of focusing on people within organizations.

Takeaways;

• Amy started Grounded HR while traveling Australia.
• HR should be accessible to small businesses from day one.
• Disengaged employees can sacrifice profit.
• Business owners need to learn people management skills.
• Difficult conversations are acts of kindness.
• Small gestures can build a positive workplace culture.
• Remote work has changed employee expectations.
• Exit planning is crucial for business resilience.
• Employee ownership can be a viable transition strategy.
• A growth mindset is essential for business leaders.

Thanks for listening. Visit the Owner To Owner Podcast website to subscribe, listen back, or check out any resources or information mentioned on the show.

Search @ownertoownerpodcast on your favourite podcast player to subscribe and listen to the episodes.

Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.

michael.kerr@kerrcapital.com.au

www.ownertoownerpodcast.com.au

Host @Michael Kerr speaks with @Honor Northam about her journey in business ownership and her advocacy for employee ownership. They discuss the challenges and benefits of transitioning to employee ownership trusts (EOTs), the impact of small businesses on local communities, and the cultural barriers that hinder the adoption of employee ownership in Australia.

Honor shares her experiences with her bakery, @Honorbread, and how with limited formal business qualifications she has successfully run multiple businesses.

The discussion covers;

• the upside of employees having a real stake in the companies they work for
• #employeeownership as a way to reward those who contribute to a business's success.
• how transitioning to an employee ownership trust can be financially beneficial for business owners
• why #communityimpact is a significant consideration for small business owners when thinking about #exitplanning
• how small businesses play a crucial role in supporting local communities
• why understanding #EOTs is essential for business transitions.
• why cultural perceptions of ownership can hinder the adoption of employee ownership models.
• why regular business valuations are important for planning transitions
• how the future of employee ownership in Australia is promising but requires more advocacy and understanding.

Chapters

00:00 Introduction to Employee Ownership

02:47 Honor's Business Journey and Employee Ownership Experience

05:59 Challenges and Misconceptions in Employee Ownership

09:09 Financial Benefits of Employee Ownership

11:56 Transitioning Businesses to Employee Ownership

15:01 Community Impact and Responsibility

18:01 Supporting Local Youth and Employment

20:52 The Complexity of Business Succession

24:09 Opportunities in Employee Ownership

26:09 Exploring Employee Ownership Trusts (EOTs)

29:20 Challenges of Employee Buy-In

32:30 Cultural Perceptions of Employee Ownership

37:43 Valuing Business Equity and Its Implications

Thanks for listening. Visit the Owner To Owner Podcast website to subscribe, listen back, or check out any resources or information mentioned on the show.

Search @ownertoownerpodcast on your favourite podcast player to subscribe and listen to the episodes.

Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.

michael.kerr@kerrcapital.com.au

www.ownertoownerpodcast.com.au

@Rosy McEvedy founder of @IV League Drips, shares her entrepreneurial journey.

1. Rosy founded the business in 2018 and has grown it to nearly 200 licensees.
2. She faced two major setbacks in her entrepreneurial journey.
3. The first setback was a partnership that ended poorly due to lack of compatibility.
4. Rosy's background in pharmacy and nursing influenced her business direction.

Rosy shares her personal take on the;

• Importance of #resilience
• Complexities of #businesspartnerships
• Value of self-awareness in business
• Need for thorough research and understanding when entering partnerships and the significance of hiring the right people to fill gaps in a business.

The conversation covers Rosy's innovative licensing model in the health industry, aiming to make preventative health services accessible across Australia.

Takeaways

• She highlights the importance of hiring over partnerships for business growth.
• Rosy's resilience and determination have been key to her success. Every business owner faces moments of doubt.
• Support from friends and mentors is crucial.
• Learning from setbacks builds resilience.
• Purpose should drive business decisions.
• A strong network can lead to opportunities.
• Financial health is vital for business growth.
• Mentorship can provide invaluable guidance.
• The importance of a purpose-driven approach.
• Building a sustainable business model is key.
• Networking can open doors to new opportunities.

rosy@ivleaguedrips.com

@michael kerr

@kerrcapital

Chapters

00:00 Introduction to IV League Drips

02:23 Rosy's Journey and Business Background

10:00 First Major Setback: The Partnership

24:40 Second Setback: Financial Distress and Lessons Learned

28:03 Overcoming Financial Setbacks

34:00 The Importance of Support Systems

38:57 Purpose-Driven Business

50:56 Mentorship and Guidance for Growth

Thanks for listening. Visit the Owner To Owner Podcast website to subscribe, listen back, or check out any resources or information mentioned on the show.

Search @ownertoownerpodcast on your favourite podcast player to subscribe and listen to the episodes.

Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.

michael.kerr@kerrcapital.com.au

www.ownertoownerpodcast.com.au

@Michael Kerr and @Jon Manning on why #pricing is the biggest lever for improving profitability. They discuss using pricing strategies as a highly effective way to increase small business profitability. They explore the #psychology behind pricing, the common hesitations business owners face when considering price increases, and the importance of effectively communicating these changes to customers.

They cover innovative pricing tactics, the significance of choice architecture in proposals, and the necessity of establishing a systematic pricing cadence.

Key takeouts;

• the need for businesses to understand their value proposition
• how and when to reassess pricing models to ensure sustainability and growth
• why business owners need to engage in meaningful discussions with their customers about value and pricing
• the importance of understanding the different 'business unit' within a business when considering price changes
• the psychological aspects of pricing that affect customer perceptions
• how reframing pricing discussions as value conversations can help

Chapters

00:00 Introduction to Pricing Strategies

09:37 The Psychology of Pricing and Business Owner Hesitation

18:34 Communicating Price Changes Effectively

23:07 Understanding Customer Value and Pricing Conversations

31:08 Reassessing Pricing Models for Profitability

37:41 Understanding Pricing Complexity

40:00 Innovative Pricing Tactics

47:12 The Power of Choice Architecture

55:48 The Psychology of Pricing

01:01:39 Establishing a Pricing Cadence

01:10:26 Government and Pricing Dynamics

@kerrcapital

@pricing prophets

Thanks for listening. Visit the Owner To Owner Podcast website to subscribe, listen back, or check out any resources or information mentioned on the show.

Search @ownertoownerpodcast on your favourite podcast player to subscribe and listen to the episodes.

Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.

michael.kerr@kerrcapital.com.au

www.ownertoownerpodcast.com.au

@Marama Carmichael shares her pathway that started in science and now sees her as founder and CEO of @Oracle Tree, a full-stack digital marketing agency. She discusses the pivotal moments that led her to start Oracle Tree, emphasizing the importance of empowering business owners and better understanding their needs.

Marama highlights the challenges many business owners face, including the tendency to create 'Frankenstein' businesses that are reactive rather than strategic.

She advocates for financial literacy, mentorship, and the need for external perspectives in business.

The conversation also touches on her book, 'Fixing Frankenstein,' which aims to help business owners take charge of their operations and make informed decisions.

• Marama's journey reflects the importance of adaptability in business.
• Empowering business owners is at the core of Oracle Tree's mission.
• Asking 'why' can lead to deeper insights for business owners.
• Many business owners create reactive 'Frankenstein' businesses.
• Financial literacy is crucial for business resilience.
• Mentorship can provide valuable external perspectives.
• Strategic marketing spending is essential for growth.
• Curiosity can drive innovation and improvement in business.
• Understanding client needs is key to effective marketing.
• Creating a supportive business environment fosters success.

@michael kerr

@kerr capital

00:00Introduction to Marama Carmichael and Oracle Tree

02:29Marama's Journey: From Natural Therapies to Digital Marketing

05:12Empowering Business Owners: The Philosophy Behind Oracle Tree

07:45Understanding Client Needs: The Importance of Asking 'Why?'

10:28The Challenges of Business Ownership: Navigating Flux and Reactivity

13:24Creating a Sustainable Business: The Role of Strategy

16:18Choosing the Right Clients: Culture Fit and Business Success

19:01The Importance of Self-Reflection for Business Owners

21:48Oracle Tree's Services: A Comprehensive Approach to Marketing

28:05Strategic Financial Management in Business

30:23The Importance of Mentorship and Guidance

32:49Understanding Business Structure and Roles

37:21The Need for Holistic Business Perspectives

39:03The Value of External Insights and Mentorship

43:48Curiosity and Continuous Learning in Business

47:27Key Priorities for Small Business Resilience

Thanks for listening. Visit the Owner To Owner Podcast website to subscribe, listen back, or check out any resources or information mentioned on the show.

Search @ownertoownerpodcast on your favourite podcast player to subscribe and listen to the episodes.

Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.

michael.kerr@kerrcapital.com.au

www.ownertoownerpodcast.com.au

@bill withers is founder of @the Adapt Way and author of 'Succession Thinking'.

In this conversation, Michael and Bill discuss the challenges and strategies for building resilient businesses, emphasizing the importance of shifting from a short-term profit mindset to a long-term vision.

Bill shares his journey from a challenging upbringing in #Kununurra to becoming a successful entrepreneur and business leader. The conversation delves into key themes;

• the importance of stewardship in small and medium enterprises (SMEs),
• the lessons learned from selling his business Acquire,
• the vision behind his current venture, ADAPT, which aims to support SME owners in building resilient businesses,
• the need for leadership development within SMEs, and
• the significance of creating a supportive community for business owners.

They explore the need for;

1. Role clarity,
2. Trust in business culture, and
3. The legislative changes required to support small and medium enterprises (SMEs).

Bill highlights the significance of decision-making infrastructure and the need to rethink capital distribution to empower SMEs.

The discussion culminates in the idea that business owners should focus on creating options and flexibility rather than viewing selling as the only exit strategy.

Takeaways;

• Stewardship is crucial for the success of SMEs.
• Business owners often feel overwhelmed and isolated.
• Leadership development is essential for SME growth.
• The sale of a business should be approached strategically.
• Bill's upbringing influenced his passion for supporting SMEs.
• ADAPT aims to create a supportive community for business owners.
• The distribution of wealth and power is vital for a healthy economy.
• Business owners need to clarify their roles for better outcomes.
• Building capabilities is key to successful business ownership. It's a binary thing; working hard doesn't guarantee success.
• Return on vision is often more important than return on investment.
• Building a resilient business requires new practices and habits.
• Role clarity is essential for effective decision-making.
• Trust is the key to optimizing business culture.
• SMEs need different legislation than large corporations.
• Capital distribution must be rethought to support SMEs.
• Culture is built on trust and authenticity.
• Business owners should focus on choices, not just selling.
• Maximizing the probability of achieving business goals is crucial.

@kerrcapital

@Michael Kerr

Thanks for listening. Visit the Owner To Owner Podcast website to subscribe, listen back, or check out any resources or information mentioned on the show.

Search @ownertoownerpodcast on your favourite podcast player to subscribe and listen to the episodes.

Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.

michael.kerr@kerrcapital.com.au

www.ownertoownerpodcast.com.au

@jaryd krause is an Online Business M&A Advisor with deep experience growing 7 & 8 Figure Online Businesses. In this discussion we talk about the huge potential for offline business owners to leverage online assets for grow, and also how to take advantage of the opportunities.

Jaryd shares his personal back story. From starting as a plumbing apprentice to becoming a leading M&A advisor in Online Businesses.

The conversation covers how traditional businesses can;

• leverage online platforms
• resolve major business challenges, including lead generation
• create new revenue streams
• save time and resources with a smart acquisition

We also talk about;

• Why marketplaces like @Flippa are valuable resources for buying online businesses
• the evolution of business models and the opportunities being created as a consequence
• the critical aspects of assessing online business opportunities
• learning from past mistakes, and strategies for small business growth
• the significance of mentorship and the need for small businesses to innovate and share best practices for success
• assessing financials and traffic sources when buying online businesses

Chapters

00:00Introduction to Online Business Acquisition

02:59Jared's Journey from Plumbing to Online Business

06:09The Synergy of Online and Offline Businesses

08:56Acquisition Strategies for Business Growth

11:46Leveraging Online Assets for Offline Success

15:06Exploring Marketplaces for Online Business Acquisition

18:01Understanding Business Valuation and Multiples

21:10Navigating the Online Business Landscape

23:51The Future of Business: Online and Offline Integration

26:42Diversifying Business Models

32:06Assessing Online Business Opportunities

36:03Learning from Mistakes in Acquisitions

40:12Strategies for Small Business Growth

44:05Empowering Small Businesses for Success

Thanks for listening. Visit the Owner To Owner Podcast website to subscribe, listen back, or check out any resources or information mentioned on the show.

Search @ownertoownerpodcast on your favourite podcast player to subscribe and listen to the episodes.

Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.

michael.kerr@kerrcapital.com.au

www.ownertoownerpodcast.com.au

@gabe enslin from @the adapt way and @michael kerr discuss the importance of building resilience in small and medium businesses. They explore Gabe's diverse background, the Adapt mission, and the critical role of business owners in shaping their companies' futures.

The conversation covers;

• the need for owners to clarify what they want from their business and then align their business strategies accordingly
• the importance of resilience, culture, and role clarity

Gabe shares case studies of successful business transformations, emphasizing the need for a high-performance culture and effective ownership frameworks. They explore the vision for the future of ADAPT, along with policy recommendations to support SMEs.

The discussion highlights the significance of understanding employee needs and fostering an engaging work environment to drive business success.

Some key takeaways;

1. Many owners desire time back rather than just growth.
2. Understanding the owner's vision is key to business success.
3. Clarity of purpose can transform business strategies.
4. Resilient businesses are more valuable than those set up solely for sale.
5. The impact of a business extends beyond financial metrics.
6. Owners often want to contribute positively to their communities.
7. Effective communication of desires is essential for business alignment. Having clear conversations about what you want is crucial.
8. Building a resilient infrastructure enables sustainable growth.
9. Cultural metrics can improve even during rapid growth.
10. Role clarity is essential for high-performing teams.
11. Engaged employees lead to better business performance.
12. Creating a high-quality entry for new hires is vital.
13. Understanding employee aspirations enhances retention.
14. Partnerships can alleviate the loneliness of business ownership.

"It has to start with the owner"

"What do you want?"

"I want time back"

Chapters

00:00Introduction to the Owner to Owner Podcast

01:46Gabe Enslin's Journey and Background

12:51Understanding the ADAPT Way

16:12The Importance of Owner's Vision

20:01Identifying Owner's True Desires

22:49Aligning Business Strategy with Owner's Goals

30:22Building Resilient vs. Sellable Businesses

33:10Navigating Business Transformation

34:29Case Studies of Success

36:56Building Resilience in Business

38:07The Importance of Culture

40:33Role Clarity and Employee Engagement

42:28Creating a High-Performance Culture

44:33Stewardship and Ownership Dynamics

46:42Designing Ownership Frameworks

49:39The Journey of Business Partnerships

54:29Vision for the Future of ADAPT

55:31Recommended Reads for Business Owners

57:02Policy Recommendations for SMEs

Thanks for listening. Visit the Owner To Owner Podcast website to subscribe, listen back, or check out any resources or information mentioned on the show.

Search @ownertoownerpodcast on your favourite podcast player to subscribe and listen to the episodes.

Reach out to Michael Kerr via the website if you need personal assistance or advice for your small business.

michael.kerr@kerrcapital.com.au

www.ownertoownerpodcast.com.au