WEBVTT
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Welcome to Origin to Ambition, the show where we explore the small business entrepreneurs' journey in business.
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I'm your host, Sean Dunn.
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Let's get into it.
00:00:11.039 --> 00:00:13.519
And I talk about this a lot with entrepreneurs.
00:00:13.759 --> 00:00:16.960
You often start out, I mean, you started with a partner at the time of business partner.
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So there's I I expect a bit of comfort in having, you know, another person to bounce off and those types and share the load a bit and so on and so forth.
00:00:26.960 --> 00:00:34.479
And but what's the value one of the things that most entrepreneurs when they start off, they don't have a team, so they don't have they don't have a financial advisor.
00:00:34.719 --> 00:00:39.039
Don't mean that from my perspective necessarily, and may not even have an accountant or a lawyer.
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What's your advice?
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I don't know if you had those things when you started out, but what would be your advice?
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Because the hard part when you start out is you don't have any money usually to spend on these things.
00:00:51.840 --> 00:00:55.520
So how do you get that advice and how do you build that team around you?
00:00:56.240 --> 00:01:09.359
Yeah, I think I mean, based on just my experience alone, we wouldn't have been able to do it without the guidance of my business partner's father at the time, who actually owned his own financial planning firm.
00:01:09.599 --> 00:01:17.439
So he had he had gone through the process of starting a business starting from scratch and was really able to help us.
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And when when I left Mi recruitment and then I started Ivy recruitment, I found myself the most phenomenal accountant who has been instrumental in in giving me advice and almost being a mentor.
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She's just sensational.
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I I actually love her.
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And she she's not only been a good accountant and given me advice around selling out of Mi recruitment and starting Ivy recruitment, but also being a bit of a uh not only a mentor, just you know, giving me really good guidance on and and and support and just encouragement.
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So I think my advice would be find somebody who can be that for you.
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Doing it.
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A good sounding board.
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A sounding board, somebody experienced who has, you know, maybe been in those shoes uh and who's who's done that that to give you tips and yeah, the the support and the just the the guidance that yeah that that that will allow you to create you know p carve out that path.
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I think without having had that at me recruitment and at Ivy, I wouldn't have known what to do.
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So that would be my advice.
00:02:28.560 --> 00:02:31.599
Find that one person who can be that sounding board, absolutely.
00:02:32.000 --> 00:02:32.960
It's interesting too.
00:02:33.039 --> 00:02:53.520
I've found I wouldn't have thought this years and years and years ago, but with the passage of time and and uh getting experience and losing my hair, you sort of very quickly figure out that a lot of entrepreneurs, other business owners, are actually quite oftentimes very generous with their knowledge and like and actually happy to help.
00:02:53.840 --> 00:02:54.159
You know.
00:02:54.560 --> 00:03:00.960
And and and I think that maybe when you don't have the capital or the cash flow behind you, you know, don't be shy.
00:03:01.280 --> 00:03:12.319
Is that what you like be don't be shy and actually look into your networks and your friendships and be up front, like don't use people and disingenuously, but sort of say, like, I really need a sounding board, I'm doing this.
00:03:13.280 --> 00:03:13.840
Absolutely.
00:03:14.000 --> 00:03:32.719
And I've I've actually found along the way that a lot of business owners, because a lot of the firms that I recruit for are, you know, privately owned financial planning firms, and given I've been doing it for such a long time, I've established some really awesome relationships with owners of firms, you know, with and also, you know, practice development managers, people who work in the space.
00:03:32.960 --> 00:03:37.120
And these people have have, you know, kind of become friends along the way.
00:03:37.199 --> 00:04:12.240
So to be able to bounce off other people in the same and you know, who have the same experience, who are uh driving businesses forward and owning their own businesses and all of that sort of thing, to to have to have the the opportunity to to have those relationships and the the chats and the to work with your peers, network colleagues, you know, to to and oftentimes well Grace and I talk about it just in our business, sometimes you you've got a problem in your mind and it's funny the the minute you start speaking about it with each other and actually the solution emerges.
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So even just having even just having that ability to go to your networks and I know now, I mean I've got other I've got they're people I've worked with, but they're financial advisors as well.
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And and you know, myself and them, we we all share ideas all the time, you know.
00:04:28.720 --> 00:04:34.480
So I come across this process and people are oh well I can't help you because you're a competitor type thing or anything like that.
00:04:34.639 --> 00:04:36.319
It's it's quite interesting.
00:04:36.639 --> 00:04:42.480
Business owners are very giving, generally speaking, I think, at their time and their knowledge, they're not yeah.
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I think that also comes back to what we were talking about earlier, in that you know, when we were saying about entrepreneurs being competitive but more so with themselves and not not with other people.
00:04:53.279 --> 00:04:57.199
I think a lot of you know business owners that they want to help one another.
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They're not competing directly against you, they're they're wanting to do the best for themselves and they're sharing information and and and and support with one another so that we can all you know be successful.
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Yeah, spot on.
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That's a good insight.
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Absolutely.
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Sean Dunn here, and thank you for watching this episode of Origin to Ambition, The Entrepreneur's Journey.
00:05:15.839 --> 00:05:21.839
I'm a financial advisor who specializes in working with small business entrepreneurs and high-income earning executives.
00:05:22.079 --> 00:05:32.879
We analyze cash flow, build assets, and protect those assets to help our clients do what they want, when they want, with the people that they want to do it with.
00:05:33.040 --> 00:05:39.920
So if that's of interest to you, head over to our website and book an initial discovery call, and I'd look forward to speaking with you.
00:05:40.720 --> 00:05:44.240
What's the one piece of advice you wish you had have received?
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Oh, and maybe didn't?
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When I kicked off Ivy recruitment?
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Well, Ivy or ME, like when you first became an entrepreneur, like what is there one thing you think that's I could have done with knowing that before I started?
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Is there one thing Oh gosh.
00:05:58.639 --> 00:06:04.639
Maybe maybe having a probably a more defined a more defined business plan.
00:06:04.959 --> 00:06:19.360
Not not even a business plan, uh and an overall sort of idea with my business partner at the time as to how growing, what what growing would look like and how how that would affect our roles sort of moving forward.
00:06:19.519 --> 00:06:25.519
I sort of started me recruitment with my business partner going, okay, this is what we're going to do right now, but what's that going to look like down the track?
00:06:25.680 --> 00:06:48.560
And it probably did eventuate, you know, having run the business for me 10 years, towards the end of that time, we did actually come to realise we've got different ideas and preferences as to how we want this to go, which probably was, you know, the the the reason why we ended up parting ways and and doing, you know, got me starting Ivy recruitment and her going in her own direction.
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The same thing with when I started Ivy recruitment, I knew at the time that I wanted to work independently and have a business that worked around me and you know, now having three children.
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But I planned it for for then and there, not what that would look like further down the track, which is, you know, eight years later right here, right now.
00:07:05.920 --> 00:07:10.079
I'm I'm still operating sort of the same way, which works for me, and I'm really pleased that it has.
00:07:10.319 --> 00:07:19.519
But my advice would probably be to to look at the you know, five-year, ten-year mark as well, which maybe a lot of people do do that in their business plan, but we sure we sure didn't.
00:07:19.920 --> 00:07:28.079
Yeah, that's actually, and you're touching on something that I I wasn't necessarily going to ask you about, but I think it's it's a relevant point.
00:07:28.240 --> 00:07:28.399
Yeah.
00:07:28.639 --> 00:07:32.480
Is that I know when I started my business I did draft a business plan.
00:07:32.560 --> 00:07:42.160
Now I think business plans these days are a bit briefer and more short, sharp and evolve more quickly, I think, than the the old MBA style hundred-page business plan.
00:07:42.399 --> 00:07:51.360
I'm not suggesting that necessarily, you know, but but I think the fact that I had a plan gave me a framework to fall back on.
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Yeah.
00:07:52.240 --> 00:08:03.279
So, you know, I could review it and and I think I do see my practice, I I get, you know, new clients will come on board and and as you know, I work with predominantly small business owners and entrepreneurs.
00:08:03.439 --> 00:08:06.720
And it's amazing that some of them just have no plan.
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They've they've actually started a business based off a passion or what they like to do or what they're good at, but don't actually have a plan or direction.
00:08:14.720 --> 00:08:15.600
What about in business?
00:08:15.680 --> 00:08:22.319
Um I think this is an important sort of question, but what values do you think are most important in running a business?
00:08:23.040 --> 00:08:24.079
Oh, integrity.
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Uh you you've got to have integrity.
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You know, to to have those I think to to be successful in business, in in my experience, I think it all comes down to relationships.
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And you can't have, you know, really solid relationships with your clients unless you're honest, transparent, and you operate with integrity.
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So that's that's the number one.
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And uh you've got to you've got to enjoy what you do.
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You really do.
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If if the if the enjoyment is not there and you don't love what you're doing, why it what why are you doing it?
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And I think the the s success naturally follows.
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What you're touching on there is it's an interesting discussion in that because when you talk about so I think it's important the values you spoke about, you know, honesty, transparency and and integrity.
00:09:09.519 --> 00:09:12.480
I think you know the best businesses have those kind of traits.
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Maybe not exactly those words, but that sort of approach.
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But when you were talking about doing what you love, because I think a lot of small business owners do I touched on it before, fall into working for themselves, doing something that they love.
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And um and I think then the challenge, yes, success can follow from there.
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I think the challenge for some entrepreneurs is to take that passion and understand that they're running a business.
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I think that could be where the challenge might sit.
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But but I think that sort of cycling back to planning and but I think if you yeah, if you build relationships um and have those traits, that's really important.
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And naturally, naturally follows.
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And I guess, you know, ev evidence of that for me is that as a recruiter, which I think, you know, is a little bit uncommon in the in the industry, is that I I don't have to go out and find work.
00:10:06.960 --> 00:10:09.200
I don't I don't do business development.
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I've been doing it long enough and I've got solid enough relationships that um yeah, I I have existing clients that continue to use me and any new business comes from referrals from those clients.
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So I'm in a really fortunate position now that, you know, my you know, the emphasis I've always placed on being a relationship-based recruiter with my clients and providing the really best candidates and the best outcomes has uh eventuated in in you know ongoing referrals that is a huge, you know, it's it's really flattering.
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It's a it's a it's a massive privilege that, you know, firms have, you know, liked what I've done for them so much over the years that they refer other businesses onto me as well.
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And well that's I'd say I I know you say it's a privilege and and I would feel the same way, but I think you should also therefore be congratulated because that's the sign of a healthy business when there's repeat business and referrals like businesses, the if you're not doing a good job, you're not gonna get repeat business, let's put it that way.
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Exactly right, exactly right.
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And I don't want to be I don't I don't want to ever have to to morph back to that feeling all those years ago, you know, 17 years ago where all of a sudden I've got to be picking up the phone and making all of those phone calls and sending out marketing emails.
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I don't I don't want I I've been there, I've done that, I've I I got to the place where I needed to be by having these these clients and you know carving out a name for myself as a specialist recruiter in the space and keep providing the the same service and yeah, the rest just naturally follows.
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And that's all for this episode of Origin to Ambition.
00:11:46.000 --> 00:11:47.120
Thanks for tuning in.
00:11:47.360 --> 00:11:53.679
To make sure you don't miss our next conversation, be sure to subscribe on Apple Podcasts, Spotify, or wherever you listen in.
00:11:53.919 --> 00:11:59.679
For more information, you can visit us at dominiumcapital.com.au and we'll see you next time.
00:00:00.560 --> 00:00:06.559
Welcome to Origin to Ambition, the show where we explore the small business entrepreneurs' journey in business.
00:00:06.719 --> 00:00:08.320
I'm your host, Sean Dunn.
00:00:08.560 --> 00:00:09.919
Let's get into it.
00:00:11.039 --> 00:00:13.519
And I talk about this a lot with entrepreneurs.
00:00:13.759 --> 00:00:16.960
You often start out, I mean, you started with a partner at the time of business partner.
00:00:17.199 --> 00:00:26.879
So there's I I expect a bit of comfort in having, you know, another person to bounce off and those types and share the load a bit and so on and so forth.
00:00:26.960 --> 00:00:34.479
And but what's the value one of the things that most entrepreneurs when they start off, they don't have a team, so they don't have they don't have a financial advisor.
00:00:34.719 --> 00:00:39.039
Don't mean that from my perspective necessarily, and may not even have an accountant or a lawyer.
00:00:39.920 --> 00:00:41.119
What's your advice?
00:00:41.280 --> 00:00:46.079
I don't know if you had those things when you started out, but what would be your advice?
00:00:46.240 --> 00:00:51.679
Because the hard part when you start out is you don't have any money usually to spend on these things.
00:00:51.840 --> 00:00:55.520
So how do you get that advice and how do you build that team around you?
00:00:56.240 --> 00:01:09.359
Yeah, I think I mean, based on just my experience alone, we wouldn't have been able to do it without the guidance of my business partner's father at the time, who actually owned his own financial planning firm.
00:01:09.599 --> 00:01:17.439
So he had he had gone through the process of starting a business starting from scratch and was really able to help us.
00:01:17.680 --> 00:01:31.439
And when when I left Mi recruitment and then I started Ivy recruitment, I found myself the most phenomenal accountant who has been instrumental in in giving me advice and almost being a mentor.
00:01:31.599 --> 00:01:32.799
She's just sensational.
00:01:32.879 --> 00:01:34.079
I I actually love her.
00:01:34.239 --> 00:01:51.599
And she she's not only been a good accountant and given me advice around selling out of Mi recruitment and starting Ivy recruitment, but also being a bit of a uh not only a mentor, just you know, giving me really good guidance on and and and support and just encouragement.
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So I think my advice would be find somebody who can be that for you.
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Doing it.
00:01:59.200 --> 00:02:00.079
A good sounding board.
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A sounding board, somebody experienced who has, you know, maybe been in those shoes uh and who's who's done that that to give you tips and yeah, the the support and the just the the guidance that yeah that that that will allow you to create you know p carve out that path.
00:02:20.639 --> 00:02:26.400
I think without having had that at me recruitment and at Ivy, I wouldn't have known what to do.
00:02:26.639 --> 00:02:27.919
So that would be my advice.
00:02:28.560 --> 00:02:31.599
Find that one person who can be that sounding board, absolutely.
00:02:32.000 --> 00:02:32.960
It's interesting too.
00:02:33.039 --> 00:02:53.520
I've found I wouldn't have thought this years and years and years ago, but with the passage of time and and uh getting experience and losing my hair, you sort of very quickly figure out that a lot of entrepreneurs, other business owners, are actually quite oftentimes very generous with their knowledge and like and actually happy to help.
00:02:53.840 --> 00:02:54.159
You know.
00:02:54.560 --> 00:03:00.960
And and and I think that maybe when you don't have the capital or the cash flow behind you, you know, don't be shy.
00:03:01.280 --> 00:03:12.319
Is that what you like be don't be shy and actually look into your networks and your friendships and be up front, like don't use people and disingenuously, but sort of say, like, I really need a sounding board, I'm doing this.
00:03:13.280 --> 00:03:13.840
Absolutely.
00:03:14.000 --> 00:03:32.719
And I've I've actually found along the way that a lot of business owners, because a lot of the firms that I recruit for are, you know, privately owned financial planning firms, and given I've been doing it for such a long time, I've established some really awesome relationships with owners of firms, you know, with and also, you know, practice development managers, people who work in the space.
00:03:32.960 --> 00:03:37.120
And these people have have, you know, kind of become friends along the way.
00:03:37.199 --> 00:04:12.240
So to be able to bounce off other people in the same and you know, who have the same experience, who are uh driving businesses forward and owning their own businesses and all of that sort of thing, to to have to have the the opportunity to to have those relationships and the the chats and the to work with your peers, network colleagues, you know, to to and oftentimes well Grace and I talk about it just in our business, sometimes you you've got a problem in your mind and it's funny the the minute you start speaking about it with each other and actually the solution emerges.
00:04:12.400 --> 00:04:22.800
So even just having even just having that ability to go to your networks and I know now, I mean I've got other I've got they're people I've worked with, but they're financial advisors as well.
00:04:23.360 --> 00:04:28.560
And and you know, myself and them, we we all share ideas all the time, you know.
00:04:28.720 --> 00:04:34.480
So I come across this process and people are oh well I can't help you because you're a competitor type thing or anything like that.
00:04:34.639 --> 00:04:36.319
It's it's quite interesting.
00:04:36.639 --> 00:04:42.480
Business owners are very giving, generally speaking, I think, at their time and their knowledge, they're not yeah.
00:04:42.800 --> 00:04:52.639
I think that also comes back to what we were talking about earlier, in that you know, when we were saying about entrepreneurs being competitive but more so with themselves and not not with other people.
00:04:53.279 --> 00:04:57.199
I think a lot of you know business owners that they want to help one another.
00:04:57.279 --> 00:05:07.279
They're not competing directly against you, they're they're wanting to do the best for themselves and they're sharing information and and and and support with one another so that we can all you know be successful.
00:05:07.600 --> 00:05:08.399
Yeah, spot on.
00:05:08.480 --> 00:05:09.279
That's a good insight.
00:05:09.439 --> 00:05:09.680
Absolutely.
00:05:10.000 --> 00:05:15.600
Sean Dunn here, and thank you for watching this episode of Origin to Ambition, The Entrepreneur's Journey.
00:05:15.839 --> 00:05:21.839
I'm a financial advisor who specializes in working with small business entrepreneurs and high-income earning executives.
00:05:22.079 --> 00:05:32.879
We analyze cash flow, build assets, and protect those assets to help our clients do what they want, when they want, with the people that they want to do it with.
00:05:33.040 --> 00:05:39.920
So if that's of interest to you, head over to our website and book an initial discovery call, and I'd look forward to speaking with you.
00:05:40.720 --> 00:05:44.240
What's the one piece of advice you wish you had have received?
00:05:44.399 --> 00:05:45.759
Oh, and maybe didn't?
00:05:46.079 --> 00:05:47.759
When I kicked off Ivy recruitment?
00:05:48.000 --> 00:05:56.399
Well, Ivy or ME, like when you first became an entrepreneur, like what is there one thing you think that's I could have done with knowing that before I started?
00:05:56.480 --> 00:05:58.160
Is there one thing Oh gosh.
00:05:58.639 --> 00:06:04.639
Maybe maybe having a probably a more defined a more defined business plan.
00:06:04.959 --> 00:06:19.360
Not not even a business plan, uh and an overall sort of idea with my business partner at the time as to how growing, what what growing would look like and how how that would affect our roles sort of moving forward.
00:06:19.519 --> 00:06:25.519
I sort of started me recruitment with my business partner going, okay, this is what we're going to do right now, but what's that going to look like down the track?
00:06:25.680 --> 00:06:48.560
And it probably did eventuate, you know, having run the business for me 10 years, towards the end of that time, we did actually come to realise we've got different ideas and preferences as to how we want this to go, which probably was, you know, the the the reason why we ended up parting ways and and doing, you know, got me starting Ivy recruitment and her going in her own direction.
00:06:49.040 --> 00:06:58.959
The same thing with when I started Ivy recruitment, I knew at the time that I wanted to work independently and have a business that worked around me and you know, now having three children.
00:06:59.519 --> 00:07:05.839
But I planned it for for then and there, not what that would look like further down the track, which is, you know, eight years later right here, right now.
00:07:05.920 --> 00:07:10.079
I'm I'm still operating sort of the same way, which works for me, and I'm really pleased that it has.
00:07:10.319 --> 00:07:19.519
But my advice would probably be to to look at the you know, five-year, ten-year mark as well, which maybe a lot of people do do that in their business plan, but we sure we sure didn't.
00:07:19.920 --> 00:07:28.079
Yeah, that's actually, and you're touching on something that I I wasn't necessarily going to ask you about, but I think it's it's a relevant point.
00:07:28.240 --> 00:07:28.399
Yeah.
00:07:28.639 --> 00:07:32.480
Is that I know when I started my business I did draft a business plan.
00:07:32.560 --> 00:07:42.160
Now I think business plans these days are a bit briefer and more short, sharp and evolve more quickly, I think, than the the old MBA style hundred-page business plan.
00:07:42.399 --> 00:07:51.360
I'm not suggesting that necessarily, you know, but but I think the fact that I had a plan gave me a framework to fall back on.
00:07:51.680 --> 00:07:51.920
Yeah.
00:07:52.240 --> 00:08:03.279
So, you know, I could review it and and I think I do see my practice, I I get, you know, new clients will come on board and and as you know, I work with predominantly small business owners and entrepreneurs.
00:08:03.439 --> 00:08:06.720
And it's amazing that some of them just have no plan.
00:08:06.800 --> 00:08:14.399
They've they've actually started a business based off a passion or what they like to do or what they're good at, but don't actually have a plan or direction.
00:08:14.720 --> 00:08:15.600
What about in business?
00:08:15.680 --> 00:08:22.319
Um I think this is an important sort of question, but what values do you think are most important in running a business?
00:08:23.040 --> 00:08:24.079
Oh, integrity.
00:08:24.240 --> 00:08:26.000
Uh you you've got to have integrity.
00:08:26.720 --> 00:08:33.279
You know, to to have those I think to to be successful in business, in in my experience, I think it all comes down to relationships.
00:08:33.360 --> 00:08:39.360
And you can't have, you know, really solid relationships with your clients unless you're honest, transparent, and you operate with integrity.
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So that's that's the number one.
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And uh you've got to you've got to enjoy what you do.
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You really do.
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If if the if the enjoyment is not there and you don't love what you're doing, why it what why are you doing it?
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And I think the the s success naturally follows.
00:08:59.919 --> 00:09:09.440
What you're touching on there is it's an interesting discussion in that because when you talk about so I think it's important the values you spoke about, you know, honesty, transparency and and integrity.
00:09:09.519 --> 00:09:12.480
I think you know the best businesses have those kind of traits.
00:09:12.639 --> 00:09:15.759
Maybe not exactly those words, but that sort of approach.
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But when you were talking about doing what you love, because I think a lot of small business owners do I touched on it before, fall into working for themselves, doing something that they love.
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And um and I think then the challenge, yes, success can follow from there.
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I think the challenge for some entrepreneurs is to take that passion and understand that they're running a business.
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I think that could be where the challenge might sit.
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But but I think that sort of cycling back to planning and but I think if you yeah, if you build relationships um and have those traits, that's really important.
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And naturally, naturally follows.
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And I guess, you know, ev evidence of that for me is that as a recruiter, which I think, you know, is a little bit uncommon in the in the industry, is that I I don't have to go out and find work.
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I don't I don't do business development.
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I've been doing it long enough and I've got solid enough relationships that um yeah, I I have existing clients that continue to use me and any new business comes from referrals from those clients.
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So I'm in a really fortunate position now that, you know, my you know, the emphasis I've always placed on being a relationship-based recruiter with my clients and providing the really best candidates and the best outcomes has uh eventuated in in you know ongoing referrals that is a huge, you know, it's it's really flattering.
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It's a it's a it's a massive privilege that, you know, firms have, you know, liked what I've done for them so much over the years that they refer other businesses onto me as well.
00:10:54.720 --> 00:11:12.480
And well that's I'd say I I know you say it's a privilege and and I would feel the same way, but I think you should also therefore be congratulated because that's the sign of a healthy business when there's repeat business and referrals like businesses, the if you're not doing a good job, you're not gonna get repeat business, let's put it that way.
00:11:12.879 --> 00:11:13.919
Exactly right, exactly right.
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And I don't want to be I don't I don't want to ever have to to morph back to that feeling all those years ago, you know, 17 years ago where all of a sudden I've got to be picking up the phone and making all of those phone calls and sending out marketing emails.
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I don't I don't want I I've been there, I've done that, I've I I got to the place where I needed to be by having these these clients and you know carving out a name for myself as a specialist recruiter in the space and keep providing the the same service and yeah, the rest just naturally follows.
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And that's all for this episode of Origin to Ambition.
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Thanks for tuning in.
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To make sure you don't miss our next conversation, be sure to subscribe on Apple Podcasts, Spotify, or wherever you listen in.
00:11:53.919 --> 00:11:59.679
For more information, you can visit us at dominiumcapital.com.au and we'll see you next time.
