He highlighted the high incidence of small business failure in Australia and offered some tips and advice for avoiding common pitfalls.
- Anticipate the road ahead, so that you prevent having to react to events rather than being able to exercise some control
- Your own state of mind and attitude will determine the fate of your business
- Have the courage to take some calculated risks. Study your competition and learn as much as you can from them
- Commit to continuous improvement - first of yourself, and then your business. Your business environment is regularly changing and you must be able to adapt to this
- A sustainable business does not come from sales - it comes from building relationships with your customers and adding value to what they seek to achieve