Why do many of our businesses stay small?
Clearly the financial downturn is a major contributor. But I think there is one more important and pretty simple factor at work.
PeerSolutions provides such an opportunity. Two groups are currently operating with considerable success comprising 15 different businesses. Check out the attachment - I'd be delighted to talk to you if you are interested. My strong belief is that interconnected entrepreneurs and peer support networks are amongst the simple most important things we can be doing to grow businesses within Port Macquarie-Hastings.
How do you do this? A good start is to talk to others with experience and to test your ideas.
If small businesses want to grow they need to find new customers. Obviously finding new customers means entering into new markets. This means getting out of your comfort zone and becoming aggressive.
Apathy is the enemy
Expressways is a spare parts dealer - potentially boring, mundane and uncompetitive. They are anything but, Expressway Spares is constantly striving to maintain a competitive edge over their rivals and Patrick obviously aims to keep it that way.
Patrick also spoke about the importance of customer relationships and in so doing recounted his services at his preferred restaurant where he tells me that he is always acknowledged by name and treated as quite special. This is a bit different to the grunt I received today at the local sandwich shop.
Out & About
Rebecca Schacke & John Vanderveer own and operate the Milkbar Town Beach Cafe in Clarence Street, Port Macquarie. John is a guy who I met some 10 years ago when he and his partner at the time produced the most fantastic bread and fresh pasta which he market tested at the Hastings Farmers Market. They were such a success that they mostly sold out very early in the morning. Testing a product in a low risk situation is of course the real purpose of the Hastings Farmers Market. John's test was amazingly successful and led to a number of other ventures - including the Lighthouse Cafe. John & Rebecca have owned and operated the Milkbar Town Beach Cafe for 18 months and is a great example of how a business can grow attention to outstanding Customer Care. In fact their business was so full the morning I turned up that we had to grab a table next door, courtesy of a friendly neighbour.
Some other businesses that have used the Hastings Farmers Market as a test for their ideas include Tony & Carol Sarks from Ricardoes Tomatoes & Strawberries and Monica & Eric Robinson from The Other Chef Fine Foods.
Worthy of a mention
While this email is not intended to be a noticeboard for other events, the following ones are worthy of special mention:
1. A comprehensive information session about the Mid Coast Uni Portal and initiatives to enhance higher education on the Mid North Coast will be held at the Port Macquarie Library Meeting Room, Grant Street, Port Macquarie.
Date: Thursday 26 May 2011 - 12.00pm - 1.30pm (light lunch supplied)
Attracting a tangible university presence to this area is possibly the single most important economic and social project that we can be doing.
Please RSVP to Emmy Graham by phone 6581 8207 or email
emmy.graham@pmhc.nsw.gov.au by Monday 23 May 2011
http://www.ncinnovationfestival.org.au/mid-coast-uni-portal-and-higher-education-project-innovative-initiatives-tertiary-education-1
2. The Port Macquarie Chamber of Commerce is undertaking a survey of business confidence. Ultimately trends will be very useful in shaping the future of our economic development programs. Please click on the link below to complete this survey.
By not staying ahead of your competitors, you risk being swamped. A good example is to think of encyclopaedias. Encyclopaedia Britannica dominated the information field for two centuries until Microsoft launched Encarta. 15 years later Encarta was made redundant, replaced by Wikipedia. This is despite the fact that Microsoft had more money than many small countries and the very best people but still couldn't hold onto the lead.
The moral of the story is to keep your blinkers off and to constantly review what you are doing and what your customer is expecting you to do.
It's not good enough to be fairly good at some things. You have to stay ahead by constantly reviewing your business and how you are meeting your customers ever- changing demands.
Expressway Spares is a good case in point. Patrick is constantly reviewing his business and anticipating his customers future needs through regular meetings with his key staff. In discussing how he is staying in front of his competitors I had assumed that Patrick would tell me about his outstanding infrastructure, sophisticated tooling, huge gantry cranes enabling rapid completion of customer orders, be they national, international, private sector or government. I thought he would also mention his sublime business processes in immaculately clean premises and his logistically - central location both at Sancrox and also Mt Thorley in the Hunter Valley. But Patrick dismissed much of this as secondary prefering to focus on his staff, or team as he calls them, as being his Company's most important distinguishing feature - an experienced and motivated team of more than 150 specialists nurtured through a process of regular communication, a commitment to regular training, monthly progress meetings, career pathways and high levels of motivation.
