Bettina Donohue

Be prepared. Not every day is going to be easy, but they do come from time to time, so take the good ones when you have them. And don’t be afraid to ask for help because you’re probably going to need it at some stage. I’m lucky that I have got supportive parents who have a background in small business and are so eager to help me out.

Look after people and help them as much as you can. If you can’t do something, don’t say you can do it. The goal is not a one-off sale – business is about repeat business. Form relationships with your customers, listen to them, and treat them well.

Tony ElderBlack Dot Music

Make sure it’s really what you want to do. It’s always good to have some funds behind you when you’re starting out. I didn’t when I first started – I borrowed some money off my brother to get started, but it would’ve been better if I had that myself. The longer he was in the business, the more I had to pay him back.

Make sure you set up correctly when you start.

Having the right team is also really important. You don’t want to roll staff over. You have to look after them. Pay above award wages and make sure you’re getting what you’re paying for.

James McCannBones' Tyres

Focus on the basics, the small things matter. Before you commit to running a business, do your research. Ask yourself if it is sustainable. You need to understand what is involved on many levels – you really need to know about the financial side of things and how much time you are going to need to put in. You need to be realistic about your capabilities and when you hit an obstacle, have faith that you will overcome it. The money will come. I think falling in love with your accountant is also important!

Paul SchmudeSportspower Armidale

Plan! Plan well, keep yourself open to opportunities and don’t overextend yourself. You also need to be good at what you do and then back it up with really good customer service. People really respond to that. If you don’t have that right, you may as well close your doors. In our case, we also focus on fast and efficient turnaround while offering really good value.

Paul CohenNorthtec Tamworth

You need to financially look after yourself, pay yourself a reasonable wage, make sure you have a super plan worked out. I really try to manage for my retirement as best possible and can see the fruits of that hard work maturing soon.

There is always a price to pay working for yourself. There is not always much of a personal life, and you need to be fit and healthy to stay on top of your game.

Eat well, keep healthy. Try and switch sleep is one of the biggest things: for any important job, you have got to get sleep. Don’t be afraid to take criticism. Know that if you give your best, that it is all you can do.

When you make a decision don’t delay, just get on with it! A business plan is important. Don’t be afraid to ask others what they think, even If they are far removed from your line of work.

Simon ScottSimon Scott Photo

Know what you are getting into. It’s important to have an understanding of the hidden aspects of the business – the legal side and the accounting side, so make sure you get good advice.

You need to be prepared to ride through the highs and lows because no business is entirely clear sailing – you need to keep focused on the long term. When you hit a hurdle, it’s important to look at the options carefully and decide on the way forward – there’s generally a solution for any problem. Sometimes it takes you out of your comfort zone, but in the end that’s how the business grows and succeeds.

Also, it’s important to focus on communication – from the top down and the bottom up. All members of the team have a voice and that’s where the best parts of the business grow from. And the communication goes further than that: it’s important to maintain good and open communication with all of our customers.

Lisa WhittyHunt's Carpets

Bettina Donohue

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