1. Success in business requires an entrepreneurial mindset of never thinking about failure and always focusing on improving weaknesses. Most businesses fail within the first 3 years due to dwelling on potential failures rather than solving issues. 2. Running a business involves many challenges and obstacles that owners must face to achieve their goals. Working in the daily operations of the business always takes priority over working on the long-term strategy and future of the business. 3. Finding a partner can help overcome issues, but business partnerships are difficult even when love and positivity were initially present, similar to marriages. Discussing topics and strategies with knowledgeable outsiders can provide different perspectives to help businesses advance.

1. Real Truths On Running Your Own Business
Helping businesses reach their full potential

2. #1 Success in business is a mindset
True entrepreneurs, never think
about failure, they think about what
is not working, and what do I have
to do, to get the best results.
But not all business people are
entrepreneurs, but they can learn
from their mindset. Don’t allow
failure to be a part of your thinking.
It comes down to analysing every
part of the business and monitoring
the performance in order to
determine weaknesses and then
improve or eliminate them.
Doing it better Failure is no option Change is a constant

3. #2 Many businesses fail within the first 3 years
The majority of businesses in
Australia are small – accounting
for 97% of all businesses.
1
According to the Australian
Bureau of Statistics, more than
60% of small businesses cease
operating within the first 3 years
of commencement.
2
Those that dwell on what if, and
have a way out if things are not
going the way they should, are
the ones who will surely fail.
They will fold rather than solve
the issue.
3

4. #3 The only certainty in Business is that many
challenges are ahead of you.
• You need to step up and
face the obstacles in your
way to get your business to
the success level you
envisaged.

5. #4 Working “in the business” always takes priority

6. #5 Working
“on the
business”
never seems
to happen

7. #6 A partnership of two
may overcome the
issue
• How do you find a partner who is on the same
page as you?
• Even in a marriage a partnership can be difficult
when it had so much love and positivity initially.
• A business partnership is even more difficult to
successfully navigate.

8. #7 Most business people are over
worked and lack time to strategize
their business
• Experts say that the best way to view your business is from
a helicopter perspective, looking down on the business
from above.
• But that all takes time and you need to be in a relaxed state
and not stressed out by work issues.
• How objective can you be when you are stuck in the day to
day?

9. #8 Have you ever
discussed any of the
following topics…
• What is the actual business you are in?
• How good is your product?
• What differentiates you from your
competitors?
• Are you using technology to its’ full
potential?
• What is the single major factor that is
limiting the advancement of your
business?

10. #9 Most small business
owners don’t have
anyone available to
discuss their business
with.
• Having a discussion with yourself
is not much better than having no
discussion.
• How many times have you
discussed a topic with another
person, and thought “Gee, I had
never thought of that before.”
• Another person’s opinion can be a
stimulus to a whole different way
of thinking.
• Talking through issues with
someone else, can often make
challenges manageable.

11. #11 Most large
businesses have a Board
of people whose major
role is to develop future
strategies.
• The discussion with
knowledgeable people is
important to think differently.
• Different views on things are
essential, for developing
innovative ideas and new
directions.
• Challenging existing ideas provides
the impetus for change.
• Change in the modern world, is an
ongoing process, not to be
ignored.
• Too often businesses get
themselves in a rut.

12. #12 Why shouldn’t Small Businesses have experienced
people who are available to advise on their business.
• People are available who do not need to be
paid on a full time basis.
• They are not involved in the day to day
operations.
• They are looking at the future development,
profitability & risk profile of the business.
• Monitoring overall performance, highlighting
weaknesses and determining ways to
overcome them.
• Looking for opportunities to broaden the
base of the business and strengthen the
client base by effective marketing strategies..
Mark Phillips
Strategy development &
implementation
Specialised research
W P (Barry) Osborne
Business Development
Product Differentiation
Marketing
BAZMARK