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Episode Info: Statistics show that a lot of small businesses fail within the first few years of operation. The reason for this can be due to several factors, but for the majority of people, a system with certain goals for the business is not set in place yet. For the amount of effort entrepreneurs put into their business, they should be creating wealth, and this podcast episode is tailored to help people be more successful in their business. This week, WTR welcomes Alison Vidotto, expert strategist and CEO of Vidotto group and Push business training and mentoring. We discuss the six key areas of business that once strong, will achieve the perfect small business formula for success.Ingenious tactics to accumulate wealth, for people who see things differently.Alison VidottoBusiness strategist, CEO of Vidotto group and Push business training and mentoringWebsite #2 URL URL URL URL[00:26] Kevin: Today I'm joined by Alison Vidotto. We are going to be talking about business strategy for building wealth. Alison is a business strategist, CEO of Vidotto group and Push business training and mentoring, so she has a lot of background in business strategy[01:23] Alison: The purpose behind my business is to help small business owners to not fail because the failure statistics of small businesses are quite staggering. An enormous number fail within the first few years (50% within the first 3-5 years, 70% within 10 years)[03:31] Kevin: Would you mind sharing with us a little bit where you came from and what inspired you to do what you do today?[03:41] Alison: My husband and I set up our business 25 years ago, but we both worked as consultants[04:13] In 2010, I actually quit my teaching career and I took over the business full time (explosive growth)[04:28] I actually studied for an MBA to make sure I had the skills that I needed in order to run the business properly[04:35] When I was doing a project for my MBA, I came across these statistics[05:17] Kevin: If you put your heart and soul into a business and then you lose it, it's like your world is gone[05:29] Alison: I studied the MBA and from there I established Push because I wanted to work with small business owners to change those statistics[06:05] We were having a business near death experience, and we used strategies[06:28] I want to change statistics for small business owners and strategically, I really believe that they can do that and they can build wealth[07:00] In Australia, over 60% of small business own less than $200,000 in revenue (before rent, wages, stocks, insurances)… That's not wealth[07:21] Kevin: You're right. And it's also hard because those people are relying on their business and most likely it's their only income ...
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