On the other end of the line was sleepwear giant Peter Alexander, and they wanted to stock Shea’s brand, The Goodnight Co., on their shelves come Christmastime.

“You spend your life as a business owner chasing these types of collaborations and coming up with the concepts and presenting ideas,” Shea explains. “And often never getting a return phone call or email. So it’s always lovely when you are approached.”

The call to collaborate may have come out of the blue for Shea, but the two businesses are certainly not an unexpected combination. Shea describes her brand as “a little bit of luxury for sleep-deprived mums”; its silk pillowcases, sleep masks, and essential oils all designed to promote a good night’s sleep. The products were a natural fit in Peter Alexander’s perfumed pajama stores.

“If you think about the synergy of the two brands, first of all, that absolutely makes sense,” says Shea of the collaboration. “I would like to think that we have a good reputation and hope that that is part of the mix.”

Collaborating with a large brand as a SME

Collaborating with a large brand as a small business was an “interesting journey”, says Shea.

“It has been an interesting journey in terms of just having to really change the way we do processes and procedures, and being extremely careful and strict in the way that things are done,” says the entrepreneur.

First of all, The Goodnight Co. had to produce new packaging to align with Peter Alexander’s pink and white branding.

“They wanted specific packaging, which is this beautiful little duo kit of our calm essential oil roll on and our deep sleep mist,” Shea explains. “All of that had to be re-packaged into their packaging, so packaging that they would approve of. Our packaging is black and white, theirs is pink and white. So we had to go and find new bottle suppliers.”

Getting new packaging manufactured turned out to be more of an ordeal than anyone expected. As a small brand ordering a small number of products, The Goodnight Co. couldn’t secure product samples to send to Peter Alexander’s head office. This turned out to be an unfortunate circumstance: after manufacturing hundreds of bottles, Shea learnt they were leaking.

“We had a hairy moment where the samples had been sent to head office and the bottles had leaked,” Shea recounts. “And then we sent another package, and the same thing happened. I was basically beside myself.”

Shea called around – and found that there were, luckily, no defects. Instead, the lids simply weren’t screwed tightly enough. 

“I had to manually, with my mum, go to the factory and pull every duo kit of bottles out of the package, and check every single package and then put them back in,” the business owner explains. “Oh my god. Days, it took days and days of work.”

Making it a success

Shea was prepared to do anything she could to make the collaboration a success.

“We’ve been involved in lots of different opportunities over the years,” says Shea. “I’ve learned from my failings of what did and didn’t work to make sure that I can really harness this and give it every bit of my energy and effort that I possibly can.”

To give the products the best possible chance of selling, the business owner and an employee went to as many Peter Alexander stores as they could.

“We went in and introduced ourselves and took one of the products as a sample and had a conversation with how it was all going, talked about where it’s made, and why we do what we do,” Shea explains.

The goal was to make sure that staff would be able to sell her products properly. Shea says she also recorded and sent out a training video to each store she couldn’t get to in person.

In addition to getting out into the stores, the business owner organised as many PR opportunities as possible. 

“We’re doing a lot of a lot on our social media, but then also reaching out to organisations like you to find out if there’s further ways to reach audiences,” she says.

Reflections

Shea says the collaboration has been a definite highlight of her business journey.

“It’s been an interesting 10 years,” she says. “I am very grateful to still be here and to still be in business, because there’s lots of roller coaster moments, lots of highs, lots of lows, and a lot in between. And certainly the Peter Alexander collaboration is, you know, one of those absolute highlight moments.”

The business owner hints that The Goodnight Co. isn’t done with Peter Alexander just yet, so there may be plenty more highs to come. Further encouraging Shea is the success of a previous collaboration between the sleepwear juggernaut and a smaller business, Glasshouse Candles.

“[Peter Alexander] has a very big brand partnership with Glasshouse Candles, and I know that that partnership started off a bit like this, from what I’ve been told, where it was a collaboration for Christmas gifting,” says Shea. “So that’s the opportunity that presents itself.”

The post How small business The Goodnight Co. scored a collab with Peter Alexander appeared first on Inside Small Business.

This invention would become HeyDoodle, a range of reusable, mess-free, versatile and sustainable food-grade silicone playmats that not only offer a creative canvas for kids but are also easy to clean and reuse.

HeyDoodle began as a side-hustle for Beatrice, who had a career as an architect. But as the popularity of their products grew, she decided to devote herself to the business full-time. This also brought new challenges as to how she could sustain the growth of her business.

For this, she thought of reaching out to conservationist and TV personality Bindi Irwin, who is a mother as well.

“As a genuine supporter of the Irwin family’s environmental advocacy, I thought Bindi’s daughter would enjoy our playmats, so I sent her one as a gift when Grace turned two,” Beatrice shared. “Shortly after, I received an email from Bindi saying: ‘I have to tell you that we are already huge fans of what you do! Thanks to your lovely activity mats, we have actually been able to enjoy dinners out with our happy toddler.’ So, it really was quite a charming and organic connection that sparked the collaboration.”

What happened next

Out of this exchange, HeyDoodle not only managed to make its way into the gift shop of Australia Zoo but also collaborated with them to create unique designs for the brand.

“We developed a design that’s visually appealing and embodies the heart of Australia Zoo’s mission, offering a perfect souvenir to encapsulate the experience of being at Australia Zoo,” Beatrice said.

Suffice to say, the collaboration helped boost HeyDoodle’s advocacy and credibility. It also opened the doors to more partnerships such as with the Melbourne Museum, Taronga Zoo, and Puffing Billy, as well attracting interest from museums in the US.

Beatrice says that she made it a point that these partnerships are not just one-off promotions but long-term relationships. These lengthier collaborations benefit both the business and their partners, as well as creating greater credibility and impact.

Beatrice shares, “Each of these collaborations has solidified our reputation as a trusted partner for creating bespoke, educational, and eco-friendly products, contributing to the growth of our business both locally and abroad.”

What makes a successful partnership?

Beatrice attributes the success of these partnerships to the right alignment of values between herself (and her business as a whole) and her partners.

“It’s essential that the partnership aligns naturally with both parties’ values as this creates a deeper connection with the audience,” she explains. “Collaborating with celebrities and influencers can be highly beneficial if approached with authenticity and clear goals.”

Now, Beatrice is focused on expanding HeyDoodle to new markets, particularly the US and Europe, as part of its vision for continued growth. And partnerships and collaborations are envisioned to play a key role in this growth. 

“We aim to work with more museums, zoos, and educational institutions to develop custom, eco-friendly products that align with the missions of our partners as well as with HeyDoodle’s mission,” Beatrice shares. “By building these strategic partnerships, we hope to strengthen our brand presence and reach a broader, international audience.”

The post How HeyDoodle’s big break came after a simple gesture to Bindi Irwin appeared first on Inside Small Business.

Three tips to ensure you’re choosing the correct marketing partner for your business

1. Get some background

Treat your meeting with potential marketing partners like a job interview. Don’t be afraid to ask them hard-hitting questions like how they measure success, scale of operations, if they specialise, and ways of working.

Don’t underestimate the power of testimonials, references, and online reviews. If you spot a negative one, read the agency’s response! This is a great way to see how their customers are serviced post-sale.

2. Transparency is a two-way street

Your marketing partner should be open about their strategies, timelines, and performance metrics, providing you with a clear understanding of how your marketing budget will be utilised. Be sure they can also show you how you can track your campaigns independently, via dashboards or apps.

Transparency should go both ways, be sure to be clear on the goals you want to achieve and the budget you have to spend. For example, if your goal is to grow your local presence and boost business within your local community, be sure to share this with your potential marketing partner. You’d be surprised how much your business goals will influence the strategy taken.

3. Data and security measures

Data and privacy measures have never been more important so be sure to enquire about the agency’s data security measures. Any partner should have robust data protection protocols in place to safeguard sensitive information. Don’t be afraid to ask them about how they plan to keep you and your customer’s data safe, especially if you’re building a new website.

Other things you may want to consider

• Industry knowledge and expertise – Look for a marketing partner that has experience and expertise in your specific industry. A deep understanding of the nuances and challenges within your sector will contribute to more effective and targeted marketing strategies.
• Adaptability and flexibility – The business landscape is ever-changing, and marketing strategies must evolve accordingly. Choose a partner that demonstrates adaptability and flexibility in adjusting strategies based on market trends, consumer behaviour, and your business’s changing needs.
• Do they take a collaborative approach – A successful marketing partnership involves collaboration. Choose an agency that values your input, considers your ideas, and works collaboratively to achieve shared goals. A partner who sees the relationship as a true collaboration is more likely to contribute positively to your business’s success.
• Response time and availability – Evaluate the agency’s response time and availability. Quick response times and accessibility are crucial, especially when time-sensitive issues or opportunities arise. A responsive partner demonstrates a commitment to your business’s immediate needs.

It is more important than ever that SMEs have a strong online presence in order to stand out among the saturated competition. Although the large selection of digital marketing options can be overwhelming, these tips should make this decision more manageable.

The post Three tips for choosing a digital marketing partner appeared first on Inside Small Business.

This is a common scenario for many small businesses, and it’s a challenge that transcends mere size differences. You will have to delve into the nuances of different and distinct business languages and cultures. I call it the GAP Effect, and I speak and write on this topic often because it’s such a big issue, increasingly so in Australian and NZ Business.

Understanding the communication challenges

Complex processes: For small businesses, delving into the workings of larger companies can feel like navigating a maze and be overwhelming. These giants operate with a complexity that includes layers of approvals, stringent compliance, and bureaucratic hurdles (and bungles …). The complexity can be daunting for smaller, more agile players.

Decision-making speed: We, as small businesses, often pride ourselves on our quick decision-making abilities. Our leaner structures allow for agility. In contrast, larger organisations, with their layered hierarchies, often move slower, bogged down by extensive approval processes. (Translated into practical outcomes, this means that, while your big competitor is filling out forms to get approval to buy a plane ticket, your company will have contacted the client, possibly visited them, and have the whole problem solved. All while your competitor is still waiting for approval to leave their office).

Cultural divide: There is a distinct cultural gap as well. Large companies usually adhere to formal communications and structured processes, focusing on scalability and minimising risks. We, on the other hand, tend to thrive in a more informal, flexible setting that fosters innovation and personal connections.

How to Bridge the gap – trust and respect play a big role

Fostering strong relationships: The cornerstone of smooth communication lies in trust and mutual respect. I know, that sounds so old-fashioned, but transparent personal connections can help navigate through communication challenges. Regular, open, dialogue and a willingness to empathise with the other party’s viewpoint are vital.

Clear and consistent communication: It’s crucial to simplify complex concepts into clear, understandable messages. Strip away the jargon and ensure straightforward communication. This can significantly improve mutual comprehension and trust.

Understanding each other’s worlds: An effective partnership requires a deep dive into understanding the internal dynamics, limitations, and priorities of our larger counterparts. This means recognizing their adherence to risk management and procedural complexities. Yes, it takes a bit of work, but all successful partnerships do.

Enhancing partnerships for stronger supply chains: Effective communication is the bedrock of successful partnerships. If we can align our communication styles – or at least understand them – we can collaborate more effectively with our larger partners. This improves individual relationships, and bolsters the resilience and efficiency of the entire supply chain. Everyone benefits.

As we progress through 2024, I urge you to focus on understand and leverage your approach to building trust. There are real opportunities for SME owners and managers who understand how important trust and transparency have become in business communications.

As an aside, the Edelman Trust Barometer was released last 15 January and is about how much we trust (actually, it’s how much we don’t trust) governments, NGOs and the media. Once I have digested the report, I will be writing some more articles on this theme, with tips on how to turn a failing of your big competitors into an opening for you,

The post Trust the key to bridging the communication in supply chain partnerships appeared first on Inside Small Business.

With the odds seemingly against small businesses, it almost seems impossible for them to grow amongst these hurdles and a looming recession. Small businesses don’t have large budgets to spend on marketing efforts and are oftentimes strapped with a lack of manpower to even operate her business.

But one most overlooked tactic that can expand a small business is leveraging B2B partnerships. It can be a budget-friendly option that can significantly grow your business.

Here are a few ways small businesses can begin exploring and implementing B2B partnerships no matter their budget or size.

Research adjacent and complementary businesses

By understanding adjacent fields of businesses, it allows brands a better understanding of how two companies can work together. For instance, if you’re a newly established wedding planner it would be advantageous to seek out photographers or caterers to partner with so that you can offer a full-service package and even do customer referral programs.

Another way of researching and interacting with complementary businesses is to attend networking events, industry conferences or showcases. It’s a simple and easy first-step to see what complementary services are out there that could add value to your customers without any commitment or pressure.

Leveraging social media to generate co-branded promotions

Whether it’s LinkedIn, Instagram, Facebook or TikTok, it’s important to have a strong and engaging social media presence. These platforms can offer an easy way to increase exposure and gain customer acquisitions.

While building a social presence does take time and lots of effort, it doesn’t mean a co-branded promotion or giveaway needs to be the same. Small businesses can connect with other businesses and create digital promotions, discounts, or giveaways that include services and products of adjacent brands.

This tactic can help a small business grow their social following, increase general awareness, and even potentially get more clicks to their website which could potentially mean an increase in sales.

Creating a referral partnership

One of the oldest yet most powerful strategies is having a reliable referral network. People will always trust word-of-mouth over anything. There are a few different types of referral programs that a small business can leverage such as digital customer referrals, influencer support or a more rewards based program.

Look for opportunities to partner with businesses that offer referral programs to help each other generate new leads. It’s likely that businesses already have referrals within their network, but just haven’t formalised it. An easy first step is to look at your pre-existing network and see what you can leverage and create.

Remember, B2B partnerships don’t have to be expensive or time-consuming. By focusing on complementary businesses, networking, social media, co-branded promotions, content creation, and referral programs, SMEs can build strategic partnerships that can help them grow and succeed.

The post How B2B partnerships will help your small business grow in a looming recession appeared first on Inside Small Business.

Business success is all about relationships and those relationships are about to be seriously tested in 2023.

Although I thought discretionary spending would tighten up sooner than it has, there has been lingering, positive consumer spend in Australia driven by a mindset that has thrown caution to the wind based on the belief “I have survived the pandemic, why shouldn’t I spend money on myself”.

This can only last so long as the reality of climbing interest rates is going to rapidly change this ‘pollyanna’ view of the economy, personal needs and discretionary spend.

So, what should you do?

The key relationships your business partners with and rely upon are;

• suppliers on the one hand, and
• customers on the other, and
• usually the landlord in between!

Who amongst these ‘partners’ do you believe will be naughty or nice when business conditions tighten?

Questions to ask of suppliers include:

1. Who will be open to extend credit when push comes to shove?
2. Who has a return policy that you trust if you need to reduce inventory levels or slow sellers?
3. Who will continue to prioritise supply to you when they also reduce inventory holdings?
4. Which suppliers have a history of or are most likely to pass on price increases as market conditions tighten?

Questions to ask of customers:

1. Who will try to squeeze you on prices?
2. Who will continue to stay loyal to your business?
3. What customers may you have to ‘drop’ to keep any associated operational costs and overheads to a minimum?
4. What discretionary products and services will they likely cut back on?

Something to note in relation to your landlord.

During the pandemic, there was government intervention to assist businesses. This is not as likely due to tightening economic conditions. So, how tough and naughty is your landlord likely to be? Perhaps they will be nice, but remember what Scrooge might think.

I know the fun and frivolity of Christmas is over, but with the new year upon us, these are some simple, planning questions you need to start considering as you rank your partners as naughty or nice and take corrective action before the spending noose tightens.

Have a written backup plan to review and reshape your business relationships as needed. For example, start planning lease flexibility now, setup extended payment terms etc.

Don’t let the Scrooge mindset dominate, but recognise that even Santa Claus had to make decisions about who is naughty, who is nice, and how this impacts his planned and actual business operations.

The post Naughty or nice? appeared first on Inside Small Business.

While there are many customer attraction strategies and channels that require a hefty budget, there are still plenty of low-cost solutions to attract not only more customers to your business, but higher quality ones, too.

1. Get to know your customers

Knowing your ideal customer places you in a prime position to attract better customers. The best thing you can do to attract more of them is to get to know them. Survey them. Why did they choose you? What problem did you solve for them? Create profiles of their characteristics, locations, income, lifestyles, and pain points. These are your client avatars and are central to how you attract more of them. Once you know them intimately you can start to uncover where they spend their time online.

Next, it’s time to find out which private Facebook groups they are in, which blogs they read and which influencers they follow. Pay attention to where your ideal clients are hanging out.

2. Social proof is currency

The next best thing to a customer handing over money to you is having them hand over a testimonial or review. It’s a springboard for amplifying your credibility and attracting new customers through someone else singing your praises. But the thing is, you’ve got to ask! This could be on the spot or as a follow-up.

Social proof enables you to promote yourself without you actually doing the promoting! Once you’ve got your testimonials and reviews, promote them across your website, social media, and marketing materials.

3. Create an offer

Create an offer that will gain the attention of your ideal customer. You might consider a trial, audit, first month free, or adding tons of value with a purchase. The key is to make it compelling and a genuine offer. Study your competitors and do something completely different. 

For businesses with limited budgets, LinkedIn, Facebook or Instagram are great places to start. If you have a small budget, even $500, run a highly targeted LinkedIn, Facebook or Instagram ad campaign to your ideal customer and tell them how you can solve their problem with your irresistible offer.

4. Build strategic partnerships

Customer attraction doesn’t have to cost you money. Identifying non-competitive businesses that share your ideal audience (from step one) is a clever way to access a new network of clients.

Make a list of complimentary businesses and reach out to them with your proposal. Structure the formal partnership by creating a referral program. Either you set up a referral fee, paid on client acquisition or you can commit to a one-for-one referral program where both parties share clients with each other. It needs to be about reciprocity.

5. Create helpful content

Creating helpful content helps you build a relationship with your ideal audience so that they can start to know you and eventually trust you. When you create valuable content without asking for anything in return, your target audience is more likely to view you as the expert in your field. And where there is an expert, you’ll find a flood of customers interested in engaging an expert to solve their problems.

Customer attraction doesn’t have to cost you money. Especially with the power of the internet; you can reach your ideal customers without spending a fortune in a meaningful and effective way. When you start to see growth in your business from these tactics, then you may want to consider some paid channels to broaden your reach even further and amplify your business to the next level again.

The post Five low-cost customer attraction strategies for small businesses appeared first on Inside Small Business.

Further, consumers are becoming increasingly turned off by intrusive digital ads. Instead, they’re increasingly turning to peer reviews, comparison sites and word of mouth for recommendations on what goods and services to buy. In fact, the research revealed that five of the top six channels that online shoppers use for researching or discovering brands are not paid advertising.

Partnerships as an SME growth strategy

This is where partnerships can play an important role in an SME’s marketing strategy. If you find the right partner, they can offer an efficient and effective way to reach new customers and can work at all stages of the marketing funnel. Partners also bring trust and credibility to their audience, which SMEs can leverage and build upon.

Partnerships are versatile and there’s a huge range of partnerships available out there. You could choose to partner with influencers (macro and micro), affiliates or with publishers for commerce content opportunities (things like Yahoo’s shopping portal or News.com.au’s Best Of). Another strategy might be partnering with a charity as part of a corporate social responsibility play, or with another business, amplifying both brands.

Managing SME partnerships at scale

Managing and scaling an effective partnership program used to be out of reach for many SMEs as it was incredibly time-consuming to find, contract, pay and manage all the different types of partners out there.

However, advances in technology over the last decade or so means that today, partnership management platforms do all the heavy lifting for brands and make it entirely accessible and affordable for businesses of all sizes.

Further, as it’s a performance play (that is, partners aren’t paid unless they drive the required outcomes), it also means SMEs can experiment with new audiences and quickly move on if things don’t work out.

Partnerships in action for SMEs

One Australian SME that has used partnerships to grow its business is LVLY, a dynamic Australian start-up that has disrupted the traditional floral and gift industry with its fast, affordable, stylish and personalised flowers and gifts. It put a diverse partnership program at the heart of its marketing mix to engage customers at different touchpoints, using its partnership management platform to automate the process. This enabled the company to increase its number of partners by 80 per cent, growing partnerships revenue 127 per cent year-on-year.

Another successful example is Zero Co, which has a mission to “untrash the planet” through a range of refillable cleaning and beauty products. It created a ‘Sustainable Stays’ partnership program to encourage the use of reusable containers in hotels and other holiday accommodation. Accommodation owners have fast become single-use plastic free, and can also earn extra money by offering guests discounts on Zero Co products.

With the help of automation technology, the program can be managed by just one person, who is now able to focus on developing deeper relationships with existing partners as well as finding new ones. In just the first three months, Zero Co onboarded 46 new partners who own 578 properties between them. This has led to huge brand awareness as well as driving product sales well over target.

By finding compatible partners with complementary business objectives and values, and similar or shared customers, SMEs like LVLY and Zero Cohave created customer experiences that consumers enjoy and find useful to drive incremental revenue and positive brand associations.

It’s an effective strategy that complements traditional sales and marketing efforts, creating real value for SMEs in Australia.

The post How to use partnerships to grow your SME appeared first on Inside Small Business.

Tim Pass approached Vanessa as he was just about to leave his employer. For he’d been working as a mobile physiotherapist but now intended to start his own business in the southwest of WA. Although Tim’s plan was to start an enterprise in the same field, he had no experience as a business owner.

He realised that he needed a website, some branded items, and a full marketing strategy so he could launch strongly and fulfill his dream of being a business owner while doing what he loved. But he had no marketing experience.

“Tim knew he needed a marketing consultant and an agency that could help him with all of the marketing services that he needed to launch his business and then offer ongoing support as a sounding board for advice during those first crucial months,” Vanessa explains. “He was willing to invest in his business, and in marketing it, as he understood that marketing could make or break his business.”

Tim didn’t have an established network in the south-west of the state – indeed he had very few contacts there at all. He needed Vanessa to create an effective, fast-results marketing plan so he could build his client base quickly in new territory.

“Tim is a great physio but he didn’t know anything about marketing,” Vanessa says. “We needed to create a marketing strategy and plan that he could follow and implement himself so that his business would be a success.” Vanessa set about drawing up a clear roadmap of all the marketing activities Tim would need to do, pre-launch and post-launch.

“He’s about six months ahead, each time, of achieving the goals he has set.”

At their first face-to-face meeting, Vanessa ascertained what Tim was trying to achieve, what his business would ideally look like, who his competitors were, how many clients a week he would need to see, and what he really needed from his marketing plan to help him succeed.

“Tim’s niche is being an in-home physio for the elderly,” Vanessa explains. “Being able to travel to elderly clients’ homes would make it easier for their families to get care for their loved ones. Tim had chosen to work with me on his marketing, as I had worked with other physiotherapy clients in the past, and also some chiropractors, so he knew that I understood the space.

“I had also worked with a client who provided in-home care to the elderly so he knew I understood how the funding model worked and the services that he could make available in-home.”

Build trust and relationships

Without any kind of business footprint in south-west WA, the strategy had to empower Tim to build trust within the community and foster relationships with potential referral partners, such as hospitals, doctors and in-home care providers. Making them advocates for his service would allow him to build a significant client base.

Vanessa got Tim to research local healthcare providers and he conducted an online search for consultants who could help him, recording their contact details so he could start to build relationships with them and gain referrals. “Ultimately, this list proved to be a huge part of Tim’s success in getting the business up and running,” Vanessa avers.

Build a website, success will come

This approach meant that Tim would need a website that incorporated a doctor referral section for easy intake of referral patients, alongside branded collateral and information packs to leave with his referral partners.

“Over the next couple of months, we built his website, designed all his collateral and completed his marketing strategy,” Vanessa says.

Within six months of launching his Abode In-Home Physio website, Tim had not only reached but exceeded his revenue targets. He has already hired another mobile physio to be a part of his team, as he reached capacity in terms of the number of clients he can look after himself. He has also hired an admin person.

‘Leave it to the professionals‘

“Tim is well established in the south-west of WA as the go-to mobile physio for the elderly at home,” Vanessa enthuses. “He’s about six months ahead, each time, of achieving the goals he has set, which is fantastic. It’s so wonderful to see clients succeed, and to succeed because they have followed the marketing plan and implemented all the recommendations made in the plan.”

The experience has confirmed Vanessa’s belief that the number one thing you need to do when you are launching a new business is to get a marketing professional to create a marketing strategy and plan that is tailored to your unique business and niche.

“You also need to ensure you have set aside enough of a marketing budget to see you through the first six months, and not try and get away with launching on a shoestring budget or building a website yourself,” she says. “Leave it to the professionals, so that from the get-go you have a really professional-looking business that you have invested in.”

This article first appeared in issue 37 of the Inside Small Business quarterly magazine

The post Getting a physio fit for a successful launch appeared first on Inside Small Business.

As co-founder of a dance studio in Melbourne, HD Entertainment, it was my love (and obsession) with dance from an early age that became the solid foundations in creating a viable and thriving small business in my adulthood.

As a determined and creative eight-year-old, having wonderful mentors and teachers set the scene for what was to become a successful career as a dance and then a small business owner. Watching and learning from teachers who authentically loved what they do in a business they own, had a profound effect and influence on me.

Whilst I dabbled in a string of jobs around dance, it wasn’t until I met my now business partner, Hooman, that we joined forces to create a sound small business that had depth and longevity. In small business, we often find ourselves on our own, deep diving into a world of challenges and decision making. However, to have a business partner, who is like-minded in work ethics, drive and creativity, creates a wonderful foundation for success. And for me, I was lucky enough that Hooman also became my husband!

While it may seem quite glamorous to convert a childhood passion into a full-scale business, it is important to take stock of the practical machinations of small-business success.

You must support and educate yourself with complete knowledge of the industry that you are looking into and that includes focus on the quality of service you are providing. You need to work out how can you make it stand out and as unique compared to similar products and services currently in the market. 

And do your research around the target market for your particular product or service so you completely understand your potential clientele and then have systems in place to help streamline tasks. I knew that there was a significant market for people over 50 who wanted to learn how to dance, so could I explore and satisfy that obvious gap in the market?

And it is also important to continue to learn and grow as the industry evolves. Be innovative and creative in the way you tend to your small business so your customers can be captivated by that spark and stay with you in the long term.  We have students who have been with us for many years and that is a testament to our commitment in reinventing their offering so they keep coming back for more!

As a small-business owner, I think it was important to firstly work for other businesses so you learn a lot of what NOT to do.  Understanding and learning from their errors can finetune your approach to small business so you don’t make those same mistakes.

In our small business, contractors form part of our staff but we consider them a valuable part of the team. But there will always be the challenges around availability and reliability if they are contractors and not permanent staff but our business model suits contractors. We are generally lucky and have had great dancers and dance teachers work with us, but there has been the odd occasion where certain things come up that you have to deal with, you may sort it out quickly and easily or cease working with them.

That’s definitely one of the harder decisions to make within business. But for a business to grow, you often can’t do it alone. 

It’s all about choosing the staff which are the right fit for your small business and that, in itself, is always a challenge. I think it’s a balance between their competency and their attitude – someone might seem like the perfect fit at the beginning, but as you move along you might find that the way they conduct themselves doesn’t suit your small business. 

As I look back on my eight-year-old self, dolled up in sequins and ribbons, I feel quite humbled that this child had the tenacity and perseverance to dig deep when opportunities arose or better still, created her own opportunities to be the successful businesswoman I am today. It may take time, but its all about finding the right balance of talent, grit, uniqueness and creating that team which builds you as person and as a successful small-business owner.

The post Turning your childhood passion into a successful small business appeared first on Inside Small Business.