The Should I Own A Business Podcast

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Slightly Familiar Friends deal with common business challenges

Slightly Familiar Friends deal with common business challenges

Our Should I Own A Business Podcast, likes to look at things a little differently. We will introduce you to our Slightly Familiar Friends, who you will hear about during our episodes. Who are these Slightly Familiar Friends? Our Slightly Familiar Friends are fictitious characters based upon real people or businesses that we have observed. Our Slightly Familiar Friends encounter all manner of...

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New business failures and some hidden reasons why

New business failures and some hidden reasons why

Business failures are too common New business failures continue to be alarmingly prevalent despite an overwhelming amount of information at our fingertips.  Government statistics often show that the majority of new businesses will fail within a few years. If you are thinking about starting a business or buying a business or franchise, how do you know if you will be successful? Thinking of owning...

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What differences are there between an amateur and a professional artist

What differences are there between an amateur and a professional artist

If your art hobby is your passion, could you make money by turning it into a viable artistic business and what are the differences should you be prepared for?  This article explores the differences that you would have to consider to change from being an amateur artist into a part-time or full-time professional business. The COVID economic downturn is forcing many people to look for new ways to...

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Customer expectation can kill your home based business

Customer expectation can kill your home based business

Dealing with customer expectation is something that few people starting-out in a home-based business are adequately prepared for and it is very easy to underestimate just how challenging it can be to deal with. Moreover, an inability to deal effectively with customer expectation can kill your enthusiasm for your home-based hobby business very quickly indeed. Of course, we've all seen what the...

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Turn your woodwork hobby into a woodworking business

Turn your woodwork hobby into a woodworking business

If you spend your spare time working with wood, have you thought about turning your hobby into a woodworking business? This article explores the things that you would have to consider to turn your woodwork hobby into a business. The COVID economic downturn has triggered many people to look for new ways to boost their income and change their lifestyle. Many apprenticeships in carpentry, cabinet...

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Could your metalworking hobby become a fabrication business?

Could your metalworking hobby become a fabrication business?

If your hobby is making things using your metalworking skills, have you thought about turning your hobby into a metalwork fabrication business? This article explores the things that you would have to consider to turn your metalwork hobby into a fabrication business. The COVID economic downturn, has triggered many people to look for new ways to boost their income and change their lifestyle. The...

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What is the difference between DIY and professional power-tools?

What is the difference between DIY and professional power-tools?

Professional power-tools can cost substantially more than DIY hand tools or power-tools. Why is there a price difference and when should you buy professional power-tools? Commercial-grade power-tools cost more because their life expectancy is longer due to their design and build quality. It might make good sense to buy professional-grade or commercial quality power-tools if you plan on turning...

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Manufacturing Productivity for Beginners

Manufacturing Productivity for Beginners

The more complicated a factory production process becomes, the more there is to go wrong with it, and the harder it is to manage.  Managing and increasing manufacturing productivity needs to be simple and natural. The owners of manufacturing companies must develop the management skill to see complicated things simply, in order to maximise efficiency, productivity and profit. Improving...

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5 Drawbacks of manufacturing with robots and automation

5 Drawbacks of manufacturing with robots and automation

Is manufacturing with robots a positive or negative experience for small to medium manufacturing companies? Manufacturing with robots and automation can increase production efficiency but may also have several drawbacks. Using robots in manufacturing businesses can offer advantages to reduce production costs, automate repetitive tasks and replace workers. While we could have robots for process...

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What is it like to run a manufacturing business?

What is it like to run a manufacturing business?

The coronavirus pandemic recovery is providing real opportunities for owning a manufacturing business but what is it like? Starting a manufacturing business or buying an existing business could be excellent options for a budding business owner. Running a manufacturing business is very different from a service business, and the priorities to be successful need to be understood. The decline of...

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Your Tactical Marketing Plan For The Recovery

Your Tactical Marketing Plan For The Recovery

This article summarises the key points in an excellent podcast interview with an expert on using a tactical marketing plan for the recovery. Tracy Weller-McCormack guides us on the practical tips and tactics for your marketing, along with avoiding some common mistakes that can cost you time and money. We identify the vital ingredients you need to build your marketing plan whether you are a new...

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5 Reasons Why Great Ideas Fail

5 Reasons Why Great Ideas Fail

If you are thinking of starting a business based on a great idea you have, please read this article first to avoid failure. This article explains why a great idea is not the key to success. It is the successful commercialization of an idea that brings business success. You might also be surprised that investors do not invest in great ideas. Below are 5 common reasons why great ideas fail and 4...

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3 different ways to become a business owner

3 different ways to become a business owner

There are 3 different ways to become a business owner and this article compares them along with the advantages and disadvantages of each.  We also cover some key points in Thinking of owning a business-would you be successful?   How many people want to have their own business? Research by NAB Group Economics in Business View 2018 shows 32% of Australians "like the idea of owning a...

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Should you pay a mentor?

Should you pay a mentor?

Having a suitable business mentor is important but should you pay for one? How would you choose a mentor that is best for you? Becoming a business owner can feel surprisingly lonely when you are faced with making important decisions and having a trusted business mentor can be of great benefit.  Choosing and paying for a business mentor is the best option if you do not have access to a suitable...

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What does business model design mean?

What does business model design mean?

You may hear the term business model and wonder what it is and how does it differ from a business plan? Similarly, you may also hear business model design or design thinking without realizing how crucial they are to anybody thinking of buying or starting a business. Business models are usually associated with large corporations, but this article explains every business can and should use them....

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What should you be doing now for your business to survive a downturn?

What should you be doing now for your business to survive a downturn?

Here is a 10 point practical, fast action list for business owners to survive the COVID-19 downturn and thrive afterwards.  If this is your first experience of managing in a downturn, then it can be quite overwhelming. The checklist will give you things that you can do now.  We also suggest 5 Attitudes to prepare your mindset, so things don't feel as overwhelming.   What should you be doing...

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