Episode 29

The Power of Reflection

Published on: 12th January, 2025

Welcome to this weeks’ episode of The Australian Small Business Show!

In today’s episode we are talking about the power of reflecting back on 2024 in order to set yourself up for a successful 2025.

Specifically, we recommend reflecting on:

Top Lessons Small Businesses Learned in 2024

What were the lessons you learnt last year (good or bad)?

What specifically have they taught you?

What knowledge have you gained?

Reflect On and Celebrate Your Wins:

Acknowledge the milestones you achieved, big or small.

It’s important to remember the good things we achieve in business.

What the January 2024 version of you think of these wins?

The Numbers

Look is your profit and loss, what is it telling you?

Reflect on the key metrics that matter to you.

Can you look at reviews and customer feedback data?

Reflect on Mistakes Without Guilt:

If you are striving to improve or grow your business, you will make a mistakes, celebrate them, they are signs you’re learning;

Approach this in a guilt-free way, mistakes are part of business

What lessons have you learnt from these mistakes?

We recommend creating a 'Lessons Learned' document as part of your reflection process that you can come back to and build on.

Connect with Us:

If you're an Australian Small Business Owner, we'd love to connect with you on socials. You can give our Facebook Page a like here: https://www.facebook.com/theaustraliansmallbusinessshow

Or follow us on Instagram here: https://www.instagram.com/aussmallbizshow/

* 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

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

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.