Episode 93

How to Stay in Business 20 + Years

Published on: 5th April, 2026

Hello and welcome to this weeks episode of The Australian Small Business Show.

In this episode we’re celebrating a huge milestone and diving into what it really takes to stay in business for 20 plus years – as Kristy-Lee is celebrating 20 years in business!

We unpack the journey from those early days of starting a business, including the risks, the rapid setup and the reality of just getting started, through to what it takes to build something sustainable over the long term. We share some honest reflections on what worked, what didn’t and why longevity in small business is far less common than many people think.

We also explore the key phases of growth and change that happen over time. From rapid early expansion, hiring a team and evolving services, through to navigating challenging periods like economic downturns and shifting markets. We talk about the importance of adapting your business model, learning from mistakes and making tough calls when something is no longer aligned. This includes transitioning services, changing delivery models and ultimately moving into an online business well before it became the norm.

A big focus in this episode is on mindset and resilience. We discuss the importance of being gritty, staying consistent and being willing to do the boring but necessary work that builds a successful business. We also share why knowing your market, spotting opportunities and being willing to pivot quickly can give small businesses a real advantage over larger competitors.

Finally, we wrap up with practical advice for anyone starting out or wanting to go the distance in business. We talk about the value of surrounding yourself with other business owners, learning continuously, seeking out mentors and backing yourself even when things feel uncertain. If you’ve ever wondered what it takes to build a business that lasts, this is an episode you won’t want to miss.

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Disclaimer: The information shared on The Australian Small Business Show is general in nature and does not constitute professional advice, legal or otherwise. We recommend consulting with your advisors on your specific circumstances.

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About the Podcast

The Australian Small Business Show
The Australian Small Business Show has been created by small business owners, for small business owners.

Your hosts Matt Heighway and Kristy-Lee Billett, who have both been running businesses for over 15 years, will bring our first hand experiences to offer insights, advice and inspiration to help you build a successful small business.

Each week we’ll discuss one specific strategy, topic, resource or tip that’s relevant for every small business, and we’ll be inviting along some amazing guests and friends in business to share their expertise with you.

Whether you're starting out, scaling up or a seasoned small business owner, this Australian Small Business Show is the show for you.

About your hosts

Kristy-Lee Billett

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Kristy is a nationally recognised HR expert, passionate small business advocate, podcast host, mum, wife, beach lover and runner.

She has spent more than 20 years now working in the field of Human Resources, People Management and Recruitment.

For the last 10 years she has dedicated herself to exclusively supporting small to medium sized businesses, those who employ less than 100 staff with all aspects of their HR, recruitment, people management and resource structures.

She founded her first business in 2006, and today she continues to direct this business, which is now known as People Powered Business.

Today She loves working with businesses inside our People Powered HR community to help them gain the knowledge, tools and resources to handle absolutely anything when it comes to their teams, with complete confidence.

Matt Heighway

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Matt is a CPA who has been working with business owners in multiple capacities for well over two decades. After commencing his career as an Accountant and Business Adviser, his own national start-up won numerous business awards and was featured in BRW fast 100. Since the business sold, he has been working with small-medium business owners helping them with business growth strategies and holistic business coaching.

Matt also is the Director of Lifetime SMSF, an accounting practice that specialises in Self-Managed Super Funds. Helping Australians manage their retirement nest eggs has been a lifelong project for Matt and he continues to get joy from helping.

Matt is a lifelong learner who loves to chat with other business owners. he is passionate about small business and always wants to see them win. He is at his best when things need turning around though, and gets his motivation helping small business owners come back from a set back.