@JonathanRoberts co-founded @OneRabbit with 2 partners 10 years ago. He'd worked with those same partners for 17 years prior in a marketing and design business, which ultimately morphed into One Rabbit. Along the way he's founded, owned and exited multiple other businesses. In this episode and based on that deep experience as an entrepreneur Jonathan shares high value insights on the challenges and rewards of making a strategic exit. Specifically he talks about;how 3 partners exited their marketing firm with friendship Intactthe importance of recognizing when passion and energy wanehow assessing one's satisfaction and enthusiasm regularly can be pivotal in determining the right time for a changethe significance of exit planning, building systems into the business, diversifying income streams, and maximizing profitshis unconventional approach to exit planninghis success in transitioning to new ventures@ZeroWasteProject@fridgefriendthe value of finding new passion and purpose beyond the businessA must-listen for potential business sellers and entrepreneurs seeking to exit on their terms and with confidence."Enjoy it, stay there while you enjoy it, make it as profitable as you can. And then when you stop enjoying it, pull the trigger, move on." - Jonathan RobertsRESOURCES:Visit www.zerowasteproject.com.au to explore the Zero Waste Project and learn more about their products and initiativesSearch for www.fridgefriend.com.au to find the domestic product offered by Zero Waste Project and discover how it can help reduce food waste at homeConnect with Jonathan Roberts on LinkedIn for further insights and updates on his entrepreneurial journey and business ventures.Timestamped summary of this episode:00:00:06 - Introduction and Purpose of the Podcast Michael Kerr introduces the Small Business Banter podcast and discusses its focus on business owners at different stages of ownership, such as selling, being approached by potential buyers, or aspiring to buy a new business.00:01:13 - Guest Introduction and Business Background Jonathan Roberts shares his extensive background in sales and marketing, including founding and growing One Rabbit, a professional services marketing firm. The discussion touches on the unique approach taken by One Rabbit and its transition into a consulting firm.00:05:42 - The Transition to One Rabbit and Business Philosophy Jonathan explains the transformation of One Rabbit, emphasizing the decision to focus solely on professional service firms. The discussion also delves into the philosophy behind the name "One Rabbit" and the shift towards a no BS approach in marketing.00:09:27 - Knowing When to Wind Up a Business Jonathan discusses the natural progression towards winding up One Rabbit after 27 years, citing a loss of enthusiasm and a desire to pursue other business interests. The impact of COVID-19 and the exploration of potential alternatives, including selling the business, are also mentioned.00:16:55 - Navigating Business Partnerships and Personal Reflection The conversation touches on the dynamics of business partnerships, personal attachment to a business, and the gratitude for accomplishments over 27 years. Jonathan shares insights on communication within partnerships and the departure of co-founders.00:17:23 - The Importance of Conscious Business Decision-making Jonathan discusses the importance of conscious decision-making when it comes to exiting, not exiting, or selling a business. He emphasizes the need to have a plan and be aware of the options available.00:19:27 - The Trade-off in Exiting a Business Jonathan shares his experience of stepping away from his business after 27 years. He discusses the factors that led to the decision, including being passionate about other business opportunities and feeling less motivated in the current one.00:25:32 - Renewed Purpose in New Ventures Jonathan talks about his new business ventures related to reducing food waste and the positive impact it has. He highlights the renewed vigor and purpose he feels in his current endeavors, compared to his previous consulting business.00:28:51 - The Entrepreneurial Spirit and Continuous Growth Jonathan discusses his entrepreneurial spirit and the excitement of building new businesses. He emphasizes the importance of continuously investing time and energy into new ventures and the satisfaction it brings.00:31:23 - Maximizing Earnings and Exit Planning Jonathan advises business owners to maximize their earnings while in the business and invest in exit planning. He acknowledges the challenges of selling a business and the need for conscious decision-making throughout the process.00:34:27 - Building Business Systems Jonathan reflects on the need for more business systems in their knowledge-based business to diversify income streams and maximize profits. He emphasizes the importance of smart marketing and working with enjoyable clients.00:37:18 - Becoming an Expert Jonathan discusses the...
