The big challenges small business owners face

The single biggest lever of this shift is the 'great resignation' triggered by COVID-19, which has seen many employees trading their 9 to 5 desk jobs in droves to chase their dream and explore more meaning through their working lives.

While the allure of flexibility and personal freedom may seem enticing, business owners are the first to say, "What glitters is not always gold".

Being a business owner can be lonely and sheer hard work. You are likely to wear many hats, like Chief Executive Officer (CEO), head of operations, sales and marketing teams, admin, human resources, and much more!

As a result, business owners often feel like they never really get a chance to switch off from work. A way of life that can be emotionally exhausting and interfere with your ability to run your business and effectively maintain critical commitments.

The good news is you are not alone. According to the ABS, there are 17,000 other non-employing businesses in the City of Casey just like you.

City of Casey’s Start-up Community and Events Coordinator, Chris Hall, shares simple yet profound insights into how businesses can access hidden business network opportunities, collaborative partnerships, and word-of-mouth promotional opportunities.

 Three simple steps small business owners can take to give their business a boost now:   

Connect and collaborate 

Are there other small businesses in the surrounding area willing to collaborate?

For instance, if you are running a Yoga business, why not hold a post-workout breakfast with your clients at a local café? The café can offer a free coffee with every green smoothie purchased.

A reciprocal reward is a key to making mutually beneficial business relationships work.

Exchange Skills

Sometimes we need to bounce ideas off someone who 'gets it'. For example, there is no point in sharing your viral social media strategy with your uncle unless he is Mark Zuckerberg. Look for other business owners in your area who have skills that complement and offset your own. Consider how you can help their business in return for your guidance and support.

Find a business mentor, or be one

Mentors are invaluable. They can share insights, challenge you, be your coach, cheerleader, a sounding board, and help you expand your network.

A business mentor can also offer an outside point of view and be honest about your strengths and weaknesses.

Alternatively, you can become a mentor. Mentoring can also be mutually beneficial. It highlights your valued experiences and allows you to focus on the positives, share your wisdom, and place perspective between you and your day-to-day business operations.

City of Casey's Mentor Matching Service

Getting an independent view of aspects of your business is one of the best ways to ensure your business achieves success. Council's Mentor Matching Service provides that independent set of eyes, particularly helpful when unsure where to take your business.

The team here at Economic Development is here to help. Visit our Mentor Matching Service page to participate in our, find a networking group, or talk to us about how to take your business to the next level.