Words of wis­dom for busi­ness suc­cess by en­tre­pre­neur

Townsville Bulletin - - Investor - Tony Rag­gatt

RE­WARD and recog­nise your staff and if you are in small busi­ness, com­pete with the ‘‘ big boys’’ on qual­ity and ser­vice, not price.

These are some of the pearls of wis­dom from suc­cess­ful en­tre­pre­neur Michael Sher­lock who will ad­dress a break­fast event in Townsville to­day to help launch the North Queens­land Small Busi­ness and Fran­chise Expo.

Mr Sher­lock is a for­mer man­ag­ing di­rec­tor to Brumby’s Bak­eries who helped drive the group’s share­holder value from $ 6 mil­lion to $ 46 mil­lion be­fore its sale to the Re­tail Food Group in 2007. He pock­eted a good share of that in­creased value, putting much of it into su­per­an­nu­a­tion when the Fed­eral Gov­ern­ment re­laxed in­vest­ment re­stric­tions, and now works as a busi­ness con­sul­tant and men­tor and key­note speaker at events and con­fer­ences.

He is also an au­thor, hav- ing launched a book this week called Jump Shift he has co-writ­ten with man­age­ment con­sul­tant Al­lan An­der­son.

The book, de­scribed as a guide book for busines s own­ers and man­agers, draws on the au­thors’ ex­pe­ri­ences at Brumby’s and pro­vides an eight-step process for putting your busi­ness into ‘‘ hy­per-drive’’.

While the book sets out some well-known rules to busi­ness suc­cess, Mr Sher­lock said one of the most over­looked strate­gies was how to look af­ter your staff. Busi­ness own­ers needed to mo­ti­vate their em­ploy­ees to look at the busi­ness with ‘‘ own­ers eyes’’, he said.

‘‘ Peo­ple’s job sat­is­fac­tion i s not j ust about t heir wages,’’ he said.

Staff needed to be chal­lenged, recog­nised and re­warded.

Mr Sher­lock said re­cent events from the global fin- an­cial cri­sis to nat­u­ral dis­as­ters in Queens­land, New Zealand and Ja­pan meant peo­ple were liv­ing in un­cer- tain times, mak­ing for a tough en­vi­ron­ment for busi­ness. ‘‘ In these times, you have to go back fun­damen- tals,’’ he said. ‘‘ Don’t overgear, don’t over-bor­row and live within your means.’’

The North Queens­land expo will be held at the River­way Arts Cen­tre from 9am to­day and to­mor­row.

HELP­FUL: Michael Sher­lock with his book Jump Shift will ad­ddress a break­fast event to­day Photo: SCOTT RAD­FORD-CHISHOLM

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