In this episode, Michael Cooper from Pure Foods based in Hobart, Tasmania, Australia. Shares valuable insights for small business owners. He emphasizes the importance of funding growth, maintaining a work-life balance, and building a strong team. Cooper highlights the significance of paying taxes to make a business more attractive for potential buyers.
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Troy asks our special guest about their journey's start and defining success, their industry reconsideration, and the most challenging phase in business growth. He inquires about their love for small business growth, key habits for owners, and insights on team building, wins, mistakes, and advice.
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And a snapshot of the the final five Grow A Small Business Questions
1. Mike thinks the hardest thing in growing a small business is getting the capital. The grind of the business is not hard. That's what you've got if you've got a good product, you look after your customers and the consumers. It'll grow it's it's fine that growth."
2. Mike's favourite business book is "James Packer's book was good. It talked about his experience in a family business and succession planning. It was one of the best ones I've read because it was pretty real."
3. Mike confessed he hadn't listened to any podcasts or used any online learning tools for own professional development, but he's considering it, acknowledging the value of accessible podcasts for busy professionals.
4. Mike's advice for small business growth is the significance of innovation and staying ahead in your industry through new product development and research.
5. He tells himself on day one of starting out in business is "Every day gets better. You have good days and bad days, but as long as you have more good than bad, you're going in the right direction. Life is fun, and there will be ups and downs. That's just part of the learning curve."
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Quotable quotes from our special Grow A Small Business podcast guest:
True success is about building a loyal team, respecting, and leading by example. - Michael Cooper
Your business needs that triangle of support: a good accountant, lawyer, and bank." - Michael Cooper
In business, reach out, seek mentors, and always have someone to bounce ideas off—it's worth it." - Michael Cooper
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