There are over two million actively trading businesses in Australia. The vast majority of those are tiny, run exclusively by the owner.
Of those millions of businesses, many have the potential to be world class – if the right mix of inspiration and acumen can be found.
Thomas Edison said that genius is 1 per cent inspiration and 99 per cent perspiration.
It is the classic blood, sweat and tears story familiar to any business owner.
But it doesn’t have to be that way.
That’s why we have launched Business Accelerators.
In a nationwide campaign launched in conjunction with our sponsor, Bendigo Bank, thousands of companies submitted entries asking for advice on how to take their business to the next level.
From those thousands of businesses we have identified six firms which encapsulate some of the key issues facing growing companies. Working with business consultants Pitcher Partners, we will be providing insights into how to manage cash flow, utilise disruptive technologies like social media, analyse what parts of the business to keep and what to discard, on how to deal with family and business partners and on how to value a business or identify potential takeover targets.
Our first case study is Discover Murray River, an online web portal that wants to become the premier research and booking destination for the six million people who visit the Murray region every year.
The owner Shane Strudwick makes his money by charging a yearly subscription to local businesses – such as caravan parks, hotels/motels and restaurants – to list on his site.
Like all web businesses, the trick is to simultaneously get volume in terms of readers as well as convince advertisers to buy a yearly package.
It’s a big job for a sole operator.
This week, we’ll hear from the owner about where he is and where he wants to be and over the coming weeks you’ll see how and where he can make the most impact.
Shane Strudwick is passionate about the Murray and the potential it has a tourist destination. In the video above, you will see why.