How to Stay in Business 20 + Years

Hello and welcome to this weeks episode of The Australian Small Business Show.In this episode we’re celebrating a huge milestone and diving into what it really takes to stay in business for 20 plus years – as Kristy-Lee is celebrating 20 years in business!We unpack the journey from those early days of starting a business, including the risks, the rapid setup and the reality of just getting started, through to what it takes to build something sustainable over the long term. We share some honest reflections on what worked, what didn’t and why longevity in small business is far less common than many people think.We also explore the key phases of growth and change that happen over time. From rapid early expansion, hiring a team and evolving services, through to navigating challenging periods like economic downturns and shifting markets. We talk about the importance of adapting your business model, learning from mistakes and making tough calls when something is no longer aligned. This includes transitioning services, changing delivery models and ultimately moving into an online business well before it became the norm. A big focus in this episode is on mindset and resilience. We discuss the importance of being gritty, staying consistent and being willing to do the boring but necessary work that builds a successful business. We also share why knowing your market, spotting opportunities and being willing to pivot quickly can give small businesses a real advantage over larger competitors.Finally, we wrap up with practical advice for anyone starting out or wanting to go the distance in business. We talk about the value of surrounding yourself with other business owners, learning continuously, seeking out mentors and backing yourself even when things feel uncertain. If you’ve ever wondered what it takes to build a business that lasts, this is an episode you won’t want to miss.Connect with Us:If you're an Australian Small Business Owner, we'd love to connect with you on socials. You can give our Facebook Page a like here: https://www.facebook.com/theaustraliansmallbusinessshow Or follow us on Instagram here: https://www.instagram.com/aussmallbizshow/We’d love to hear from you!Subscribe to The Australian Small Business Show newsletter by visiting our website here: https://www.theaustraliansmallbusinessshow.com.au/Disclaimer: The information shared on The Australian Small Business Show is general in nature and does not constitute professional advice, legal or otherwise. We recommend consulting with your advisors on your specific circumstances.Mentioned in this episode:Invitation to Join Kristy-Lee for this Free Webinar?Are you across the Fair Work changes that take effect on 1 July? Join Kristy-Lee for this free webinar to discover exactly what's changing and what you need to do about it, so you don't end up in hot water with Fair Work (even if you only have 5 staff and one of them is your sister-in-law). Free live webinar for Australian small business owners Tuesday 23rd June | 12pm AEST | Online via Zoom https://www.peoplepoweredbusiness.com.au/webinar