Episode 49: Back From The Brink - A year of Challenges

In this episode, Simon Davis reflects on the challenges faced over the past year, including significant drops in turnover due to severe weather conditions in Australia. He discusses the strategies he implemented to adapt to these challenges, such as increasing prices, diversifying services, and focusing on quality over speed. Simon emphasizes the importance of resilience and the cyclical nature of business, sharing insights on how to navigate tough times and prepare for future opportunities.takeaways

• The last 12 months have been extremely challenging for many businesses.
• Weather patterns have drastically affected productivity and turnover.
• Increasing prices can be a viable strategy during tough times.
• Diversifying services can help sustain a business.
• Maintaining quality is crucial for customer satisfaction.
• Taking a wage cut can be necessary to protect staff.
• Investing in equipment can improve operational efficiency.
• Chasing tenders and following up on quotes can generate more work.
• Resilience is key in navigating economic cycles.
• Understanding your numbers is essential for business sustainability.

Chapters

00:00Back From The Brink: A Year of Challenges

03:28Weathering the Storm: Impact of Severe Weather

06:50Adapting Strategies: Increasing Prices and Tendering

10:22Emerging Opportunities: New Jobs and Future Outlook

13:20Resilience and Diversification: Lessons Learned