@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

In this episode of Small Business Banter, @Michael Kerr and @Mark Fletcher discuss the evolution and future of independent retailers, particularly news agencies. Mark shares insights from his experience with News Express and Tower Systems, emphasizing the importance of adapting to change, leveraging technology, and understanding market dynamics. The conversation highlights the critical role of independent retailers in communities and the need for them to embrace innovation to thrive in a competitive landscape. In this conversation, Michael and Mark Fletcher discuss the journey of transitioning a long-standing business, the importance of local businesses in building sustainable communities, and the complexities involved in selling a business.

Mark shares his experiences with various acquisition processes, the significance of maintaining business performance during transitions, and the emotional challenges of business ownership.

They also touch on the need for government support for small businesses and the potential benefits of politicians gaining firsthand experience in small business operations.

Takeaways;

• Independent retailers are crucial for community engagement.
• Evolving product offerings is essential for survival.
• Technology can significantly enhance retail operations.
• Retailers must adapt to changing consumer preferences.
• Online presence is vital for modern retail success.
• Data-driven decisions can improve profitability.
• Successful retailers embrace change and innovation.
• Community-focused businesses can thrive despite challenges.
• Understanding market trends is key to growth.
• Retailers should leverage insights from their point of sale systems. Building sustainable communities relies on thriving local businesses.
• Navigating the complexities of business transitions requires careful planning.
• Timing is crucial when considering the sale of a business.
• Maintaining business performance during a sale is essential for value.
• Defining roles post-acquisition can help ease the transition.
• Business ownership can be a lonely journey, requiring support systems.
• Preparing for a business sale should be an ongoing process.
• Legislating for small business awareness can change political perspectives.
• Reforming government procurement can better support small businesses.
• Small businesses play a vital role in providing employment and community stability.

Sound Bites

• "Retailers need to embrace change."
• "I love your pathway out of school."
• "Make every day a payday."
• "Small businesses give people a start."

Chapters

00:00The Evolution of Independent Retailers

15:10Adapting to Change in Retail

29:59Leveraging Technology for Growth

28:52Navigating the Complexities of Business Transition

32:36The Importance of Timing in Business Sales

34:48Maintaining Business Performance During Transition

39:31Defining Roles Post-Acquisition

42:08The Loneliness of Business Ownership

44:25Preparing for a Successful Business Sale

48:22Legislating for Small Business Awareness

50:27Reforming Government Procurement for Small Business Support

@kerrcapital

@ownertoownerpodcast.com.au

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

@Geo George from @Mayfly Ventures discusses the innovative approach of his venture studio, focusing on investing in both new and existing businesses. He emphasizes the importance of navigating uncertainty in the startup world and how AI can serve as a transformative tool for businesses.

The conversation also highlights the value of 'boring businesses' and how they can be revitalized through technology and strategic partnerships. Geo shares insights on successful ventures in hospitality and MedTech, and offers practical advice for small businesses looking to leverage AI for growth.

"We're aiming to do things 2% better, but thousands of times."

Takeaways

• Mayfly Ventures focuses on the intersection of strategy, creativity, and technology.
• The venture studio model increases the chances of success for new startups.
• Navigating uncertainty is a key aspect of the startup mindset.
• AI can enhance business processes and drive efficiency.
• Boring businesses often hold significant value and potential for growth.
• Successful ventures often stem from deep domain expertise and understanding of customer needs.
• The integration of AI into business processes is crucial for staying competitive.
• Small businesses can leverage AI for customer service and marketing.
• Documentation and understanding of business processes can lead to meaningful improvements.
• Investors are increasingly interested in businesses that can demonstrate execution capability.

"Boring businesses are great businesses."

Chapters

00:00 - Introduction to Mayfly Ventures and GA George

02:50 - The Venture Studio Model: Investing in New and Existing Businesses

06:01 - Navigating Uncertainty: The Startup Mindset

08:50 - The Role of AI in Business Transformation

11:53 - Boring Businesses: The Hidden Gems of Investment

15:02 - Case Studies: Successful Ventures in Hospitality and MedTech
18:11 - Practical Steps for Small Businesses to Leverage AI

21:09 - Conclusion: Embracing Change and Innovation

@michael kerr

@kerr capital

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