@tamara simon discusses the challenges owners face, the value of financial awareness, and the necessity of breaking the cycle of overwork to achieve a more profitable and enjoyable business. Tamara shares insights from her book, 'The Five Little Business Pigs', which outlines strategies for building a successful business.

The discussion highlights the importance of reflection and understanding one's business dynamics to foster growth and sustainability. In this conversation, Tamara and @Michael Kerr cover;

• the importance of clarity in roles
• the necessity of #businesscoaching
• the need for strong foundational systems
• the impact of leadership behavior on staff morale and productivity.

Some takeaways;

• Success in business is often a jagged line, not a straight path.
• Many small business owners have expensive hobbies instead of profitable businesses.
• There is a system in everything; it's about finding it.
• Owners should aim to work in their sweet spot 80% of the time.
• Time management is crucial for small business owners.
• Turnover is not the only measure of success; profitability matters more.
• It's important to consciously choose the price of your commitments.
• Most businesses have room for improvement. Every business should have a coach.
• Understanding your numbers is crucial for success.
• Business systems are essential for clarity and productivity.
• Behavioral change in leadership is key to business success.
• Small business owners should embrace their role with pride.
• Reflection on business viability is necessary for growth.
• Coaching provides a sounding board for business frustrations.
• Strong foundations are built on clear roles and responsibilities.
• Employee engagement is vital for a thriving business.
• The journey of business ownership requires bravery and commitment.

@kerrcapital

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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