Celebrating 30 years in business - what I know now

Ever wondered what it takes to achieve business longevity and hit incredible milestones? Join us as we mark the 155th episode of Secrets of Successful Business and celebrate three decades of entrepreneurship. 

In this episode, I'm reflecting on my journey, from working in publishing and how this lead to freelancing (when it wasn't really a thing), right through to the thriving business I have today.

My 30-year business journey includes starting (and selling) businesses in retail, e-commerce, service-based business and online course creation. How to run a multi-passionate business with four kids to care for and how changing course is vital to business success. I also share lessons learned from some significant business challenges along the way - including overcoming a hefty tax debt. 

Understanding the "why" behind your business and the changing role of success is pivotal and in this episode, we'll explore why success isn't a static goal but an ever-evolving journey. From managing daily tasks to achieving broader ambitions and maintaining personal well-being, I'll share how to stay motivated even when times are tough and why it's vital to keep learning - especially when it comes to the money. 

We'll also dive deep into building a sustainable business model through simple, consistent practices that work. By focusing on your ideal clients and making all communications customer-centric, you can build loyalty and navigate even the toughest times. Learn the importance of paying yourself regularly, understanding your value, and maintaining consistency through small, daily steps. By embracing a proactive mindset, you'll be better prepared to ride the highs and lows of the business cycle, paving the way for lasting success.

This episode is packed with valuable advice for both budding entrepreneurs and seasoned business owners and is it's a treasure trove of insights on perseverance, continuous learning, and leveraging every bit of knowledge along the way.

Transcript

Speaker 1 0:35

You're listening to the Secrets of Successful Business podcast, your go-to source for business tips, tricks and proven strategies that will help you create a streamlined and profitable business. We chat to the best minds in business about their journey, how they started, what they learned along the way. How long are you going to give this Going harder?

Speaker 2 0:55

to get more Focus on growing more with what you have.

Speaker 1 1:00

What they learned along the way. How long are you going to give this?

Speaker 2 1:03

What compromises are you going to make? Just because you can do it doesn't mean that you should do it.

Speaker 1 1:08

It's really important to remember that it's a long game and, of course, we'll ask them for their secret sauce for creating a successful business. If you're not failing, you're not doing it right. You should be struggling at times. That is part of the journey. Join us as we take a sneak peek behind the curtain, talk solutions for those business pain points working smarter, not harder, mindset and the challenges of fitting it all in with the demands of today's busy lifestyle. If you're a business owner, side hustler or just starting your business journey, this podcast is for you. Now here's your host, business coach and content creator, justine McLean from Flossie Creative.

Speaker 2 1:48

Hello and thanks for joining me on the podcast today. In case we haven't met, I'm Justine, a small business owner on a mission to uncover and share the secrets of creating and running a profitable, sustainable and successful business. I've been in business for over 20 years now and I get to use all that I've learned along the way to help other women in business reduce the overwhelm, gain visibility around their numbers, charge what they're worth and make more money. It's about designing a life you love that fits into your definition of success. So if I can help you create the profitable business you deserve, please reach out Now without further ado. Let's dive into today's episode. Hello and welcome to episode 155 of Secrets of Successful Business. I can't believe that I've just hit record on this episode. It feels like a real milestone for me because when I first started doing podcasts a couple of years back, I honestly 100 seemed like a long way away. So the fact that I've got to 155 is mind-blowing for me. And not only am I celebrating episode 155 today, but I'm also celebrating 30 years as a business owner. It's very much a milestone year for me in my business 30 years as a business owner.

Speaker 2 3:07

I started back in 1994 when my first son was born. Probably like a lot of you, it was an unintentional foray into business. I didn't intend to start a business back then. I thought I would have nine months off, which was what maternity leave was at the time and what we were encouraged to take, and then I thought I would just come back and work full time or maybe negotiate part time, because even then, back in 1994, to maintain our mortgage and our lifestyle we still needed two incomes. But this idea of me starting a business was floated by one of the authors that I was working with. I worked for an English publishing company back then in the tax department which is quite ironic given the field that I've gone into now in my business ironic given the field that I've gone into now in my business. But they said to my boss that they were not prepared to work on the book that was really a cornerstone of that business and that came out on an annual basis unless I was there to help them through it. So they really encouraged me to become what is now more commonly known as a freelancer and a contractor. It wasn't so widely known back then and certainly in the firm that I worked for there was no such thing, so I was a bit of a trailblazer.

Speaker 2 4:29

I think they, on some level, were a bit anxious that I would start a trend and that all the women in the business would want to do the same thing. But for me I was just lucky to be working on a project that was really holding up a big chunk of the department that I worked in that business and that they couldn't do without. So the timing for me was really serendipitous. I stayed in that business, really exchanging time for money, until 2002, when my husband and I decided to open toy stores and we were early adopters of e-commerce. They were the days when a comma in a product description would crash the entire site. So, very early adopters, we ran that business together for 15 years.

Speaker 2 5:16

We had a couple of locations, a couple of e-commerce sites, and if you've read my book or you've listened to the podcast before, you'll know that pretty early on in that business we ended up in a massive tax debt, and so for me, the best way to deal with that was to learn everything I could about money. I went from being that person who really didn't do numbers, really didn't understand it, to the other extreme. That's probably the perfectionist in me? I'm not really sure. But a thousand hours of supervised BAS preparation in an insolvency firm and all the education later and I became a registered BAS agent. Now that allowed me to branch out into yet another business, while my toy stores were still doing their thing and running behind the scenes, and I began working with some incredible women and a few good men too all very creatives, creative business owners in a numbers business where you were doing their bookkeeping, their compliance work for them, and I began doing a bit of advisory work where I was essentially coaching them, giving them the tips that I had learned from a practical sense through running my own business and failing in my own business, particularly when it came to the money early on so that they could grow their business early on, so that they could grow their business.

Speaker 2 6:43

And when I think back about for my business and businesses and over the years that I have worked because I started work at a very young age it's interesting that all those little things that you collect on the way, all those little experiences that you have, the tidbits that you learn, that you think, gosh, what am I ever going to use this for again in my life? That at some point in the future, you're probably going to put them to the test, you're probably going to use them and again, you've probably heard me say this before I'm a real believer that nothing is ever wasted, and so all of that experience that I gathered over so many years working for other people, working for myself, working in insolvency for a while, working in the media different media organizations that I worked for it really allowed me to have a well-rounded advisory approach for business owners that I was lucky enough to work with and, of course, I did that business all through COVID. I had various arms in my business At the time. I've always been a multi-passionate business owner, and so through that period, I was doing some writing for people, I was running my bookkeeping and compliance business with the help of some amazing casuals and part-time people in that business, and then I was also doing advisory work and some financial education as well, although that, at the time, was a tiny part of my business.

Speaker 2 8:02

Then, of course, in 2023, I had the opportunity to sell my bookkeeping and compliance business. It was a bit of a nervous time for me, because it was by far the biggest business that I had sitting under my company umbrella and certainly it made the most money. So giving away that fabulous monthly income for me was pretty difficult. It was a pretty difficult decision and also the fact that I got to work with so many incredible people one-on-one, really closely, and I knew that in selling that business, in all likelihood I would not continue to get to work with those people anymore. But after some consideration and wondering what the next best step was for me, particularly at my age and knowing that I was really entering that legacy phase of my business and I'm 58, by the way, I'm not 70, but nevertheless so for me that next act looked like selling off the bookkeeping and compliance part of my business and I had an offer, so that was a really easy sell for me. And then really leaning into what was lighting me up, which was the financial education, because one thing that I had discovered after years of working intimately with creative business owners around their money was that so many people start their business with that purpose, just like me, whether it was to raise their children or to deliver a kick-ass product or service to people that would save them time, money or make a great transformation in their business.

Speaker 2 9:40

And very few business owners in that creative space started a business to dot the I's cross, the T's when it came to money. And so for a lot of those business owners, they weren't paying themselves a wage. They were barely covering the cost of doing business. They were barely covering the cost of doing business and they were working 60, 70 hours a week. Their family was beginning to get annoyed with them. They were at odds with their family constantly because they just didn't have the time or bandwidth to spend with their family. Something had to give. For a lot of them it was. I think I just need to give up this business. But for me, I knew that, largely because of my experience, that tiny bit of financial education was going to make such a big difference for them.

Speaker 2 10:27

In my next iteration of business, the one that I'm in right now, I shrunk my business, reduced the number of income streams that I had going and I leaned into the financial education In my group, business Money Magnet, doing one-to-ones with people, continuing to do that high touch point, individual learning and teaching, and then also speaking to bigger groups. And whether that's online, whether that was in person, I decided that was the way that I wanted to go. That's online, whether that was in person, I decided that was the way that I wanted to go. Interestingly, I also got back into writing and if you have been listening lately, you'll know that I have just published my very first book, which is also called Become a Business Money Magnet Definitely a theme there. It's now a registered trademark, by the way, but I wanted to write that book. It was something that I had always wanted to do. It was definitely on my bucket list, writing a book Not that I was going to be writing a book about money, no way. It was going to be a fabulously dramatic, sweeping tome that was very Austen or Bronte-esque. But Big Magic sent me a money book, so that is what I wrote. So I leaned into doing that. That renewed my love for writing and so I have that going on as well.

Speaker 2 11:48

It's been an interesting transition into this part of my business in the 30th year. Was it easy? No, because when you choose to get rid of the biggest money earning part of your business, in some ways you're essentially starting from scratch, or starting again, building a business up from the tiny beginnings into where you want it to be. But I am very much about creating a business by design, one that fits in with success and what that means for me right now, in this legacy phase of my business, and what that looks like for me right now is working a couple of days a week, making the most of those couple of days and also making sure that I am making maximum impact.

Speaker 2 12:33

So how many people can I reach with my book by going out and talking to industry groups or at conferences or doing work in group sessions through Business Money Magnet, the program that I have? What is it that I can do to really move the needle so that I leave something behind for people when I decide to give up this business life, that is really going to make an impact in their business and help them to create a business that they really going to make an impact in their business and help them to create a business that they are going to love, a business that works for them right now in this period of their life and their business? So that's where I am in my 30th year of business, and when I was sitting down to put together this podcast number 155, which just seemed like a good number for me I thought what can I share with you that might make a difference in your business too, and so I'm going to share the things that I've learned over 30 years of business, what I know now that actually works, and I'm pretty sure that all of these things are going to help you not only achieve the success that you want the success on your terms but that are going to help you make more money as you run your business. The very first thing that I know for sure is that it's really important, as a business owner, to know your purpose, know your why, as some people call it. Why are you here, why are you doing this, and what is it that you want to achieve? Why do you want to have a business? For a lot of us, it starts because of something my first son but for most of us, it continues for another reason, and that's the super interesting thing about business, particularly when you've been in it for a while. I think that purpose, that why, can change, and that's okay. The most important thing, though, and the thing that I would say to you as my advice, is never to lose sight of what your business means to you right now and why you're doing what you're doing, because it's truly important, particularly when things aren't going well in business.

Speaker 2 14:41

When there are things like the economy that's out of our control, it's often important to say why am I doing this? Why do I want to have this business? Wouldn't it be easier to work for someone else? And if the answer to that is no, then it's about really leaning into that. Why do you want to have a business? In my sure, it would be easier to go out and work for an accounting firm, for example, but I don't want to do that because I, like me, I'm a great boss and I really want to work for myself. So, right now, that's my why.

Speaker 2 15:11

My kids have grown up. Sure, I want that legacy to be able to leave to them, but I also know that they're more than capable of cutting their own path through life. They don't really need me to have a thriving business anymore to be able to do that. So what's your why? Why do you want to have this business? And why do you want to have it now? And when you know that the next step is to really understand that in this moment?

Speaker 2 15:39

What is it that success means to you right now? So, that is in your life, in your business. But what does it mean to you right now? And the interesting thing about success is that can change. It can change monthly, it can change quarterly, it can change from year to year. Sometimes it can change from day to day. Again, when I started my business, success for me was being able to get up, make the phone calls that I needed to make while my son was sleeping and hopefully have a shower before one in the afternoon. If I could do that, tick, tick, I was having a really successful day. Now success means reaching as many people as I can, getting my book into as many hands as I can to help them elevate the financial side of their business, get a tiny bit more educated, because I know that is going to make a massive difference for them. But success also means finding the space and finding the time in my business life to look after me, so to exercise, to take some downtime. I'm very much an introvert at heart. I like nothing more than sitting at home in my house reading a book, staring at the garden. I'm definitely that person. So success also means finding that space in my life as well.

Speaker 2 17:02

The next thing that I absolutely know to be true is that you should never stop learning, never, ever, don't be tempted to just default to other people. Sure, call in the experts when you need them. I'm absolutely an advocate of that. But always learn for yourself. Numbers, for example. Do you have to learn as much as your accountant or your bookkeeper or your BAS agent knows? Definitely not. But don't just abdicate the responsibility for a big area of your business to someone else and expect everything to turn out the way that you want it to turn out. I think it's really important to always try to learn everything you can in life because, as I said earlier, nothing is ever wasted. You just don't know when that tiny bit of information that you've picked up today is going to come in handy tomorrow, in six months, in 12 months, in three years, and whether that has anything to do with your business or not is irrelevant. I think if you continually learn, if you continually leave yourself open to understanding something new, then it's always going to be an asset in your business and your life, because no one can ever take that knowledge away from you and that's so important. I think one of the things that I really learned and obviously I learned this the hard way, because my story is that your numbers in business in particular, and, I guess, in life to a degree. They always tell a story, and it's about becoming aware of what that story is and how to write that story yourself, because I believe that each and every one of us deserves to be the author of our own stories, particularly when it comes to numbers. Get a tiny bit more financial education and never stop learning. It will benefit you, I promise, 100%.

Speaker 2 18:55

One of the most interesting things that I have discovered over these 30 years in business is that a boring business is actually a good business and also a very simple business. So that boring, simple business, that rinse and repeat business, is definitely the one that works. I think as entrepreneurs, we're naturally distracted by the bright, shiny objects that we see the next course, the next thing, the next business idea, somebody to the left of us in our industry is doing this, somebody to the right of us in our industry is doing that, and we're tempted to follow. But that boring business, that rinse and repeat business, that simple business that you managed to perfect over many years, is the thing that is going to find the effort and the ease, not only in your business and your life. You are going to find that there'll be minimal effort that you need to put in as that business grows and it will just become easy for you. So my recommendation is to find that sweet spot where the effort meets the ease in your business, and create that boring business, that rinse and repeat business, that thing that you deliver over and over again. Sure, you can put some tweaks and changes on that. I'm not saying that you don't add different things, but make that one product that you know that works, the staple that you roll out again and again, so important to stay in your lane and do what works for you. Now the caveat on that and this is where I probably sound like a bit of a hypocrite here is I think I am one of the OG diversification business owners out there. That's probably a really silly way to put it, but you get my drift.

Speaker 2 20:47

When I started my business, I had different streams. I was writing, I was doing education, I was doing service-based business, we obviously had product-based business, we had online business. So there's lots of different areas that certainly I was working in over different times, but it can be really stressful to run a whole lot of income streams that are so different. So what I would recommend if you're thinking about this whole idea of a boring business is to come up with your business idea. For example, I work now in financial education but I still have various income streams. So I've got my book, I've got writing, I've got speaking, I've got one-to-one education and I've got group education as well. I think there are so many different opportunities within all of those different streams in my business, but the fundamental cornerstone of my business is my program, business Money Magnet, and that is the thing that is available 24-7, 365. It's the rinse and repeat. I know that it works and so for that reason, I found my lane in this education field and I'm staying in that lane. It's just easier. So, after many years it's taken me many years to work that out, but that boring business where you can keep rolling out the same thing is definitely where the effort meets the ease. So have a think about that.

Speaker 2 22:20

So the next thing and this is the all important thing, particularly, I think, when times are a little bit tough, I think we forget about our audience, we forget about our ideal client and who it is we're trying to serve. One of the things that I often see is the I I. I can help you do this. I am an expert in X Y Z, but it's not about you. Business is not about you. Business is about your audience. It's about your customer. It's about your ideal client. Who is your ideal client? Who is your audience right now, in this moment? That might have changed since you started your business. Who is that A-list person that you want to talk to, and are all your communications about them? Are you saying you instead of I, so you might need help in X Y Z? Talk to me about how to do that best. Think about your client in every single thing that you do in your business and make everything about them, because it's definitely not about you and that is going to win you.

Speaker 2 23:28

The people coming back time and time again. And while we're on your ideal client, and particularly now when things are a little bit tough, think about who that 20% are. Who are the 20% of people that you serve that keep coming back for more. The people who are loyal to you, that are loyal to your business, and what can you do for them right now, in this moment, to keep them coming back and working with you? It's so tempting to be looking around trying to find that next right person to work with, and sure, if you need a bit of a boost in your business, it's always good to have that new person coming in, but remember the people that you've already got in your ecosystem and, as I said, it's about them. So keep that in mind.

Speaker 2 24:19

Now, something that is really important to me, and as I have been on a bit of a book tour over the last several weeks, what I've noticed is that the majority of business owners, small business owners out there, particularly women do not pay themselves anything at all. If they do pay themselves, they're definitely not paying themselves a full salary and they're not really looking at that as a priority for themselves in their business. So, please, one of the things that I wish I had known way back when was that it is so important to pay yourself regularly and take charge of your future by paying superannuation as well. So think about that for a minute. If you can't afford to pay yourself a full wage something that you would have earned working for someone else start small.

Speaker 2 25:13

Every Thursday, do a direct debit for $100 into your personal account. Forget about dipping into the business account when you need some money for groceries or you need a bit of a cash top-up for yourself. Instead, get a bit regimented about this. Automate a weekly payment of $100. Start there $50 if you can't afford that, and the idea here is that it's just going to become a habit. You know that every Thursday you're going to get your regular wage, whatever you choose to set it to, and you're going to wait until the next payday to take more money. Pretty soon you're going to see whether or not that $100 is going to last and it probably isn't and so my hope is that will then encourage you to have a look at your business on holistic level.

Speaker 2 26:02

Decide how you can change that so that you really are taking charge of your future. You're paying yourself what you should be paying yourself, because there's no point running a business where you're just paying the bills or paying your contractors and not paying yourself anything. You might as well go work for someone else. The other thing to do is, every week when you're paying yourself that $100, and you can increase that every week I'm just using that as a bit of an example number here Pay superannuation for yourself. Pop that super. It'll be 11.5% here in Australia from the 1st of July, but wherever you're listening in the world, there will be a superannuation 401k payment that you can make to yourself that is going to help you invest in future you Because, as I've said a million times, when you are fed up with working or you really don't want to work anymore, you've decided to retire. It'll be really nice if you have the choice of whether to wear polyester and drink cask wine or buy something better and go on a lovely holiday, and that all comes down to superannuation, whether you like it or not. So start investing in super and then, when you've got that, when you're paying yourself and you've got your super and you've got that rolling out on a regular basis, think about where else you can invest in yourself. Should you invest in yourself through education? Should you invest in a very literal way, by buying shares or going into another area savings, high-level savings account, high-yield bonds, something like that? Where can you diversify in your personal life as well as your business life so that you are investing in yourself and investing in your future? Have a think about that Now.

Speaker 2 27:55

Business is not a business, in my opinion, unless you are making profit. As I said before, just like the wages, if you're not paying yourself a regular wage, it might just be easier to go and work for someone else. And if you've got a business that pays you a great wage, that covers all of your expenses and breaks even, fantastic, that is a good place to start. But for me, business is all about profit. So profit is that money that is left over, that unencumbered money that you can do whatever you want with, and profit for me is peace of mind. So how much profit and I'm talking net profit here, that's the number, that's the money that's left after everything is paid, including your wages and your super how much profit are you making in your business? And if you are not making profit in your business, then how can you make profit in your business? How can you work towards that?

Speaker 2 28:58

For most of us, working out what our profit is, or working out how to increase our profit, is going to start with becoming really aware of what it costs us to run our business, how much money we want to take as a wage, how much money we're going to put away into our super fund, how much money we want to put aside for savings and how much tax we have to pay. And when we know all of that, we can start to build a pricing structure and a product or service structure within our business that is going to deliver us profit every single time. So have a think about your business. Are you making a profit? And if you're not making a profit, how are you going to change that? So you do.

Speaker 2 29:44

Now, one thing I know for sure after many years in business, and particularly as I've been on this book writing journey and as I've worked so closely with so many business owners over the last seven or eight years, is that mindset really matters, the way we think about our business, particularly the money side of it. It really matters, and so do the words that we use, about ourselves as business owners, ourselves as people, and about our business. So think about the words that you're using and think about the mindset the money mindset in particular that you are carrying into your day-to-day business. Do you have a really fixed mindset where you think that things just are what they are and nothing is ever going to change, or do you have more of a growth mindset where you know that you are more than capable of making the changes that you need to go forward in your business to reach those goals that you're after, or do you fluctuate between the two? Have a think about how the money story. The thing that you have grown up with, the way you feel about money, the way you've been educated in your beliefs around money is impacting your day-to-day mindset and the actions that you take as a result of that mindset. So, are you a risk taker? Are you risk adverse? Do you take a pause before you choose the next thing to do in your business? Have a think about that, understand that it really does matter and then, as I said, the words you use are important.

Speaker 2 31:24

So many of us in business get tied up in this whole idea of what's our service worth? What do I charge for this? But I want you to start thinking about value. I want you to think about the value that you provide and I want you to communicate that value to your clients. I want you to think about the value that you provide and I want you to communicate that value to your clients. I want you to embrace that value when you set your pricing. I want you to start to put those mindset and money blocks and limiting beliefs to one side and to start to embrace your value instead, because, as someone who has been in this game for 30 years, I absolutely know what a difference it makes. Now I still struggle with mindset, hand on heart, I find the money story that I grew up with one of scarcity and lack, still rearing its head now, all of these years later, in just about everything I go to do in my business. But when I start to feel like that, I lean into the value that I know that I can provide and the difference that I know that I can make if I spend a single hour with someone, and that is the thing that fuels my energy, that fuels me to remain positive about money and the impact that I can have and to share that value with the people that I work with. So I want you to think about that in your business too, because it really does matter.

Speaker 2 32:49

The next thing that I've learned is that the only way to be successful in your business, the only way to reach those goals that you have set for yourself in your business, is to be consistent. You have to keep showing up day after day, no matter the weather, no matter the business temperature, whether things are booming or things are absolutely terrible. Consistency is the key and quite often, all consistency needs is tiny steps every single day. You've heard about those 1% improvements that add up to big results. I'm absolutely a believer in that. So many of us approach business with that all or nothing mentality, but what I've learned is just being consistent every day. Having a smaller to-do list, not beating yourself up when you don't achieve everything on your list, is way more important than an all or nothing approach, because, honestly, I would much rather wake up every day and tick off three small things and just move the needle by that 1%, then be all or nothing in my business. So be consistent, take those small steps, because they will definitely add up to big results, and always set a goal for yourself, something that you are striving for. So you know what you're doing, what success is going to mean when you reach a particular goal in this part of your business journey, your life journey, and then, when you reach it, how are you going to celebrate that goal? Really important. Then, another thing that I absolutely know for sure and this might resonate with you I used to be a very reactive person, and one of the things that I have learned over many years is that it's not a great idea to build your business by reacting.

Speaker 2 34:46

Instead, get proactive about the way you approach your business and build your business in the white space. So what do I mean by that? As I said, I used to be a very reactive person, particularly when it came to business. Something would happen and I would immediately react to it. I wasn't looking ahead. I didn't necessarily have a plan, I didn't really have a goal that I was striving for, so I was doing nothing proactive when it came to my business. I was that person who knew the tax bill was coming, had no idea what the tax bill was, got the tax bill and then reacted to the tax bill. Where am I finding that money? The difference that it made for me by being proactive getting proactive about my tax bill gave me so much more space that I was able to build a business that had cash flow reserves, where I knew what was coming, and it just made more sense. It was much less stressful. So how did I do that? I found out when my tax was due roughly how much I would have to pay saved for that tax. So proactive, being proactive about it.

Speaker 2 36:00

So a big tip from me is that you need to get proactive about your business rather than be reactive about your business, and one of the best ways to do that is, as I said, building your business in the white space. So that is the time that you take to work on your business rather than in your business. It is giving yourself that time where you can literally just sit in your thoughts, where you don't have a to-do list that you have to tick off, where you don't have a meeting that you have to run to, where you can just sit, you can just think and the ideas come to you. Having that white space allows you to get that clarity of thinking, allows you to be more proactive with your business, and the more proactive you can be, the better business you will build. So don't build your business by reacting. Get proactive about it.

Speaker 2 36:54

And one of the final things that I think I've learned over the last 30 years and I think business is cyclical. We know that it's the peaks and the troughs. There's always going to be things we can't control natural disasters, things like COVID, economic conditions. They're things that we can't control. So we have to ride the waves and then ride the troughs in our business as well, and that isn't easy. And one of the things that I notice is when business is fantastic, when everything is going well, people don't really complain. They just lap it all up. In the moment, they probably spend more than they should. Everyone's happy, it's fantastic, everyone's happy, it's fantastic. And then something like now hits middle of 2024, economic downturn, everybody's struggling, people want to give up. They're not sure what to do next.

Speaker 2 37:49

Again, it's that very reactive approach to business, but I think the thing that it goes back to consistency and the thing that I've learned, which is so true particularly now, is that if you want to be better in your business, you just need to do better. There's no one that is going to ride in and save you. In this environment or when things are fantastic, no one is coming to save you. So the best thing that you can do for yourself is to really take that balcony view in your business, pinpoint those areas that could be better and work out how to make them better. And that could be your systems and processes, it could be your team, it could be your finances, it could be the way you're marketing your business. There are so many different elements that go into running a business and I guarantee you not all of them are up to scratch. How do I know this for sure? Because I've been a business owner for 30 years and right now. There are areas of my business that I've neglected, that are not up to scratch.

Speaker 2 38:55

So I know that if I want to do better, I just have to be better in the things that I'm doing, and sometimes that will mean letting go of some things. Sometimes that will mean leaning into things more. Sometimes it's going to mean putting different things on hiatus. It might mean hiring more help. It might mean letting go of the help that you have. I think one of the most important things to remember as you go through this business journey is it's your business. You started the business for a reason, and so what you choose to do next is up to you. It's your choice, and you can consult other people about the next right thing to do, but at the end of the day, you're the one who needs to make the choice around what the right thing is to do for your business and yourself right now, in this moment. And again that comes back to yep, you guessed what your definition of success is at what your definition of success is.

Speaker 2 40:02

So as I am sitting in this space my 30th year in business, and as I am wrapping up recording of episode 155, what I have decided to do is to put this podcast on hiatus for a little while. Why am I doing that? Because I need the white space. I need to have more space in my business to look at what I'm doing and look at how I can deliver that in a way that continues to be where the effort meets the ease, because I know, if I don't, that I am just pushing myself to the point of overwhelm again. So we're going to be taking a few weeks off.

Speaker 2 40:41

There are so many amazing guests that I have had on through these 155 episodes. There are so many other episodes in this series that are just full of gold. Please go back, have a listen to those, enjoy those over the next few weeks while I take this break, so that I can come back to you with a product that I think is better, because I'm always striving to do better in my business. Okay, so that brings me to the end of episode 155 of Secrets of Successful Business. I hope you've enjoyed this episode, just like I hope you've enjoyed all the other episodes that you've listened to, and I guess I'm going to leave you with this question what is it that you will do in your next act in business in life? I'd be so interested to know. Is it a legacy phase like the one that I'm in? Are you just starting out? Have you decided to scale, or are you scaling back? Please reach out, let me know. And until next time, keep living your best, most successful life, because here's to your success. Thanks for listening.

Speaker 1 42:01

Thanks for listening to the Secrets of Successful Business podcast. For more information on all things business, head to flossycomau and make sure you hit subscribe on the show so you don't miss another new episode. If you're enjoying the show, please give it a quick rating or review, share it on your socials or with friends who might enjoy it. Catch you next time.