Comments on: You haven’t suffered enough http://www.yourbusinesssuccess.com.au/blog/you-havent-suffered-enough Business advice from Australia's best Sun, 02 Jan 2011 02:55:12 +0000 hourly 1 http://wordpress.org/?v=3.1 By: Carolyn Queale http://www.yourbusinesssuccess.com.au/blog/you-havent-suffered-enough/comment-page-1#comment-105 Carolyn Queale Mon, 14 Jun 2010 11:04:55 +0000 http://www.yourbusinesssuccess.com.au/blog/?p=68#comment-105 I had saved this article and have only just now come back to it, I knew there was a reason. Three weeks ago my business partner and I decided that we could not go on working together I am the one who always goes and asks advice about everything I am doing in business, I wanted a coach and my partner didn't I wanted to get finance to obtain more help and my partner didn't, I was sick of suffering only my partner thought that was what business was all about and the only way to make it. However I knew different because I read, study and talk to other people who have been there and done it before me and I listen, implement and constantly make changes. I am now the full owner of my own business and I love it it's so great to hear that I am on the right track and that I did it now before it was too late! Thanks for a great article. I had saved this article and have only just now come back to it, I knew there was a reason. Three weeks ago my business partner and I decided that we could not go on working together I am the one who always goes and asks advice about everything I am doing in business, I wanted a coach and my partner didn’t I wanted to get finance to obtain more help and my partner didn’t, I was sick of suffering only my partner thought that was what business was all about and the only way to make it. However I knew different because I read, study and talk to other people who have been there and done it before me and I listen, implement and constantly make changes. I am now the full owner of my own business and I love it it’s so great to hear that I am on the right track and that I did it now before it was too late! Thanks for a great article.

]]> By: Heather Woodrow http://www.yourbusinesssuccess.com.au/blog/you-havent-suffered-enough/comment-page-1#comment-72 Heather Woodrow Sun, 30 May 2010 12:45:48 +0000 http://www.yourbusinesssuccess.com.au/blog/?p=68#comment-72 My experience is that SME's do not readily invest in good advice for their businesses. It seems a small majority are willing to invest but generally our business culture is often to go it alone. As you so rightly say, "you don't know what you don't know" which is probably why it is so hard to convince people to take advice - they don't know that they need it! My experience is that SME’s do not readily invest in good advice for their businesses. It seems a small majority are willing to invest but generally our business culture is often to go it alone. As you so rightly say, “you don’t know what you don’t know” which is probably why it is so hard to convince people to take advice – they don’t know that they need it!

]]> By: Helen http://www.yourbusinesssuccess.com.au/blog/you-havent-suffered-enough/comment-page-1#comment-70 Helen Fri, 28 May 2010 03:25:39 +0000 http://www.yourbusinesssuccess.com.au/blog/?p=68#comment-70 What if you have suffered to the point of selling your home to keep your business open, and it feels like you've sold an appreciating asset to keep a depreciating one? Is this the point of no return? Are you doomed? What if you have suffered to the point of selling your home to keep your business open, and it feels like you’ve sold an appreciating asset to keep a depreciating one? Is this the point of no return? Are you doomed?

]]> By: Peter Bonnici http://www.yourbusinesssuccess.com.au/blog/you-havent-suffered-enough/comment-page-1#comment-67 Peter Bonnici Wed, 26 May 2010 20:27:05 +0000 http://www.yourbusinesssuccess.com.au/blog/?p=68#comment-67 Hi , How very true .Just about to hit my 9th year trading in metal fabrication industry ,and the last six months have been the best ever. Last financial year I added up my hours on average spent in the factory, which worked out to about 18000 hrs then divided it by my income and the hourly rate worked out at $1.66 . It sucks when your the one who earns the least but carries the headache. I have also spent the last struggling 8 years buying second hand machinery which has finally paid off with the right job. Now finally with this money from that word not heard so often "profit" will be invested back in to the business ,to increase sales ie; web site , start to develop new products and improve on the way which things are done .The change for company name and image will also be the next step,hopefully for this financial year. The thing i believe is if you do everything right ,everything right will happen. Regards Peter Bonnici Hi ,
How very true .Just about to hit my 9th year trading in metal fabrication industry ,and the last six months have been the best ever.
Last financial year I added up my hours on average spent in the factory, which worked out to about 18000 hrs then divided it by my income and the hourly rate worked out at $1.66 .
It sucks when your the one who earns the least but carries the headache.
I have also spent the last struggling 8 years buying second hand machinery which has finally paid off with the right job.
Now finally with this money from that word not heard so often “profit” will be invested back in to the business ,to increase sales ie; web site , start to develop new products and improve on the way which things are done .The change for company name and image will also be the next step,hopefully for this financial year.
The thing i believe is if you do everything right ,everything right will happen.
Regards
Peter Bonnici

]]> By: Tim http://www.yourbusinesssuccess.com.au/blog/you-havent-suffered-enough/comment-page-1#comment-61 Tim Wed, 26 May 2010 07:32:42 +0000 http://www.yourbusinesssuccess.com.au/blog/?p=68#comment-61 That's a great article! I feel like I have been suffering with my current business, although learning from most mistakes in the past is helping me more everyday to develop better ways of dealing with previous problems with my start up. That’s a great article!

I feel like I have been suffering with my current business, although learning from most mistakes in the past is helping me more
everyday to develop better ways of dealing with previous problems with my start up.

]]> By: Reg Eustace http://www.yourbusinesssuccess.com.au/blog/you-havent-suffered-enough/comment-page-1#comment-59 Reg Eustace Wed, 26 May 2010 05:22:19 +0000 http://www.yourbusinesssuccess.com.au/blog/?p=68#comment-59 Having spent 20 years specialising in insolvency practice I saw more than my fair share of business failure. For the last 12 years I have been involved in advising, training and mentoring start up and growing small business managers, a much more positive view of small business. Thoughout my insolvency years the accepted statistic was 80% failure and given the number of failures I saw assumed it was probably right. As Andrew has found it is a myth. In fact it is not as bad as he has inturupted from the ABS report. Exits also include many who just don't start or voluntarily leave business to return to employment. These should not be included as failures. We don't know the real figure but it could well be a 1/3 and that is still very high. Of the business I saw during my insolvency days 80% to 85% were too far gone by the time we were called in to be saved. However at least 60% of those could have been turned around if the owners/directors had acted 6 months earlier. Small business managers all too often work in a vacuum and the strees of doing everthing leads to a belief that they have to sort it out. When starting in business it is essential to join at least one network and be a proactive voice in that network. Share you experiences and help others and you will benefit from the experience of others. You don't have to start with a straight piece of wood and try to work out how to create the wheel. The wheel was invented some time ago and works very well. Having spent 20 years specialising in insolvency practice I saw more than my fair share of business failure. For the last 12 years I have been involved in advising, training and mentoring start up and growing small business managers, a much more positive view of small business.
Thoughout my insolvency years the accepted statistic was 80% failure and given the number of failures I saw assumed it was probably right. As Andrew has found it is a myth. In fact it is not as bad as he has inturupted from the ABS report. Exits also include many who just don’t start or voluntarily leave business to return to employment. These should not be included as failures. We don’t know the real figure but it could well be a 1/3 and that is still very high.
Of the business I saw during my insolvency days 80% to 85% were too far gone by the time we were called in to be saved. However at least 60% of those could have been turned around if the owners/directors had acted 6 months earlier.
Small business managers all too often work in a vacuum and the strees of doing everthing leads to a belief that they have to sort it out. When starting in business it is essential to join at least one network and be a proactive voice in that network. Share you experiences and help others and you will benefit from the experience of others. You don’t have to start with a straight piece of wood and try to work out how to create the wheel. The wheel was invented some time ago and works very well.

]]> By: Ian Hamilton http://www.yourbusinesssuccess.com.au/blog/you-havent-suffered-enough/comment-page-1#comment-54 Ian Hamilton Wed, 26 May 2010 01:44:40 +0000 http://www.yourbusinesssuccess.com.au/blog/?p=68#comment-54 Spot one, Andrew. i'd just widen the sights a little and add' if you aren't having the LIFE you want you haven't suffered enough.. and if you don't have the health you want.. you haven't suffered enough. i fact it comes down to one basic principle; humans need to suffer to advance. Ian Blair Hamilton http://alkaway.com.au/ Spot one, Andrew. i’d just widen the sights a little and add’ if you aren’t having the LIFE you want you haven’t suffered enough.. and if you don’t have the health you want.. you haven’t suffered enough. i fact it comes down to one basic principle; humans need to suffer to advance.
Ian Blair Hamilton
http://alkaway.com.au/

]]> By: Margie Sheedy http://www.yourbusinesssuccess.com.au/blog/you-havent-suffered-enough/comment-page-1#comment-53 Margie Sheedy Wed, 26 May 2010 01:17:17 +0000 http://www.yourbusinesssuccess.com.au/blog/?p=68#comment-53 Spot on Andrew. It amazes me every day how much pain small business owners are prepared to put up with. Only inpending disaster will prompt them to send up a flare! Spot on Andrew. It amazes me every day how much pain small business owners are prepared to put up with. Only inpending disaster will prompt them to send up a flare!

]]> By: Paul http://www.yourbusinesssuccess.com.au/blog/you-havent-suffered-enough/comment-page-1#comment-51 Paul Tue, 25 May 2010 23:55:03 +0000 http://www.yourbusinesssuccess.com.au/blog/?p=68#comment-51 Thanks Andrew, my business IS very different to all other businesses. But as I now understand, so is every other business... The issues you higlight above apply to almost every business. What I find is that if you indicate that you need help, there is an abundance of "would be Business Coaches" out there to help you increase your profits or better manage the Risk. I find they're just there to listen to what you want to do with your bsuiness and hold you to your word, and then charge you the earth for doing it. From my experience, most business owners are open to good advice. If an Accountnat charges $4000 for his services, but gives you $6000 more in your tax return, its value for money. Business coaches can't give the same guarantee and I find some play on this fact. Yes I'm caught up between getting free advice that results in making me busier, not richer and paid advice that does exactly the same thing. How does one choose good advice? Thanks Andrew, my business IS very different to all other businesses. But as I now understand, so is every other business… The issues you higlight above apply to almost every business. What I find is that if you indicate that you need help, there is an abundance of “would be Business Coaches” out there to help you increase your profits or better manage the Risk. I find they’re just there to listen to what you want to do with your bsuiness and hold you to your word, and then charge you the earth for doing it. From my experience, most business owners are open to good advice. If an Accountnat charges $4000 for his services, but gives you $6000 more in your tax return, its value for money. Business coaches can’t give the same guarantee and I find some play on this fact. Yes I’m caught up between getting free advice that results in making me busier, not richer and paid advice that does exactly the same thing. How does one choose good advice?

]]> By: Daryl http://www.yourbusinesssuccess.com.au/blog/you-havent-suffered-enough/comment-page-1#comment-50 Daryl Tue, 25 May 2010 23:38:12 +0000 http://www.yourbusinesssuccess.com.au/blog/?p=68#comment-50 Wonderful article. Refreshing when people get proactive and solve problems using better ways of thinking. It works for me. Many thanks Wonderful article. Refreshing when people get proactive and solve problems using better ways of thinking. It works for me.

Many thanks

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