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Show Notes

Kerrie Sheaves started her career over 20 years ago, working in large insurance, telecommunications companies and professional services businesses. Her professional background has always been about process. How do you solve problems in business?

Take ideas and turn them into reality.

About 13 years ago, Kerrie started a small consultancy northwest of Sydney. Her business focuses on micro and small businesses, helping them turn their ideas into great businesses and have fun on the way. Often small businesses are an extension of the owner.

Kerrie’s consulting business has evolved into a small business solutions service. As part of this, Kerrie has been active in networking organisations. For the last few years, she has been the chair of the Hills Chamber of Commerce, which has more than 400 members and is one of the largest Business Chambers in NSW.

Whatever business a small business owner is running, there are a plethora of challenges. The problems are often an accumulation of issues, and the root causes can get hidden. A few minor changes can delay the required action, but eventually, the fundamental differences required for growth must be addressed.

“Sometimes it is important to lift the hood and look at the engine. When this happens, we find a lawnmower instead of an engine.” It all looks great from the outside, but the people working in the business know that the fundamentals need to change to facilitate the desired growth and strategy.

A measure of business competence and maturity can be how willing an owner is to ask for help and get an outside opinion on what fundamentals need to change.

What are you willing to invest in the business? Where would you like to be in 2 years?

Successful entrepreneurs need equal parts arrogance and humility. It is a fine balancing act. Arrogance is the belief in the business and services being offered to the market. The humility part is that you may not know how to get things done. In general, entrepreneurs fail because they don’t reach out and don’t recognize they don’t have all the answers.

A lack of trust by entrepreneurs is a failure to have an abundance mentality.

Stop being competitive and start being collaborative. Entrepreneurs are optimistic people – they want the best and hope for the best, but they need to. They are better off if they hope for the best and prepare for the worst.

Recruiting talent in a talent-short market is very hard. There are many more jobs available than there are people. Innovative recruiting is going on. Broader age and skill qualifications are being considered for open roles.

Talent retention is also going through a change. Work flexibility is critical.

However, retention is all about good management and good leadership. Leaders must cultivate a happy workforce.

The “future you” and skills development are spread across several areas. The first is for the individual to want to be developed. Young people are asking why this is important and why they should I invest in this training program.

Young recruits are encouraged to be in the office to meet and work with the leaders and be mentored—organic and formal training.

The business has a responsibility to articulate why the training is essential.

The training organisations are lagging. The delivery methods are stuck in another era. Ways of consuming training have changed. Training organisations need to catch up. Learner-centred programs are essential to motivate and cut through.

The business mood is cautiously optimistic. Government change always causes some uncertainty; “changing stationary”.

Affordable space to do business – commercial space is lacking in Western Sydney.

#1 is the rising cost of making business and the shrinking profits.

Summary:

Mindsets:

The development of an enquiring mindset. All businesses face challenges. The key to solving problems is to have an inquiring mindset.

Abundant mindset: some people are not trusting, but in fact, there are a lot of opportunities in the market. It is best to be optimistic and have an abundant mindset.

Personal Growth mindset: Arrogance and humility – an equal balance is essential.

Cultural Growth mindset: Create an organisation where people want to be part

Professional Growth Mindset: there is still the benefit of people working with others and being present in an office environment.

Be curious about how things and processes work, acquire knowledge and build relationships.