Tony skinner 00:00
Welcome to the podcast channel on www.podcastmybusiness.com.au and today we’ve got Adam from www.migrainestopper.com.au, and we’re not going to just talk about headaches, we’re going to talk about small business because Adam has a few small businesses that I’m sure not all headache related.
Yes, that’s true.
Tony skinner 00:21
How are you, Adam?
I am, well, mate. But some, they all give me headaches, but they’re not all headache related. That’s true.
Tony skinner 00:30
Well, we had our headache. We were due to have this conversation probably about half an hour ago. I think it was and yeah, technical issues. We’re having lots of challenges and technical issues on various things at the moment, because we’re all online. Because we have to be mostly but then you go. So, you know, let’s start off with migraine stopper because you are a Chiropractor and
Tony skinner 00:54
How does Chiro relate to migraines?
Well, first of all, I’m retired Chiro . I was a Chiro for 20 years and retired this year, and chiropractors treat migraines and they treat them quite well. So as a Chiro using manipular therapy, I treated migraines, but not all responding from that frustration, I built the migraines stopper which was a medical device to turn off migraines.
Tony skinner 01:21
Fantastic. So does it turn off the brain or just a migraine.
So it actually modulates the brainstem. And if you modulate the brainstem, that’s a big area where they have problems, you can turn off migraines, and you can prevent future attacks as well.
Tony skinner 01:38
Right? So is that like a wavelength or sound or audio or something like that.
So it’s actually air pressure, and the air pressure gently moves the ear canal. And when you do that, you stimulate two nerves. And those two nerves are involved migraines. So it’s what we call a neuromodulation device.
Tony skinner 01:59
So it’s not like when I when planes come in for landing, and I get earaches and it disappears A few minutes later.
So that’s actually your station tubes, that air being trapped in your ear and then releasing. So that’s a different mechanism. But oddly enough, my patients do use the migraine stopper to help them when they land to take off to equalize the ears. So same area, but different mechanism. Well, they got I find chewing or sucking on candy helps as well. But yeah, that’s good. Yeah, exactly. And I remember they used to give out free things that you could sniff but of course, budget airlines. And of course, none of us are flying anywhere for a while. So what do you do? Yeah. Okay. So we wanted to expand a little bit more on just the migraine stuff, because you do have different businesses, and you do have lots of business experience, which we would love to draw upon. So what what it’s saying at the moment, okay, people are starting up businesses and are a little bit wary, because we’ve got this stupid pandemic going on. And is it still a good time to start a business? Oh Yeah, it’s interesting that you should say that because yesterday, I started a new business. So the dexa scan business, I have one in crow’s nest for the last eight years. And that’s where we measure body composition, we measure your metabolic rate.
And we do genetic testing to see how you respond to diet and exercise. So it has to be in context. So it went down the the dexa scan business went down in March. But then when the gyms reopened, it went nuts. And we got we got busier than we had been in a while. So because of that, I opened up the second one in another suburb to capitalize so it would be completely to do with context I am I just bought a chair from an office furniture store up or dry. And as it has business, he said, he turned over last month, we normally turns over in two or three years. So I guess it’s all in context. But I started a chair business company now because everyone’s in their home office wanting to set up ergonomic chairs, for sure. So definitely its context. Hmm, exactly. And I found that with this podcasting as well, because I can do online as we are now. I’m finding that it’s been helpful for me as well. People are listening to podcasts more. And I started that just before the pandemic hits. So there you go. So it’s been pretty good for me. So what what are some principles again, for people starting out when I i’ve been saying be brave and fail fast and fail often? Yes. Yeah. Look. So even before you start, I have a lot of friends that talk about doing businesses and they want to know what the secret is. The secret is starting. It’s not very sexy, and it’s not up there with Einstein’s theory. Just start and use your own money and just use enough money. So you don’t, you know, get into hot water if you were to lose it. But if you start and you start to use your own money, you will learn very quickly what to do. And so just start and put your money in.
Tony skinner 05:15
Yeah, I think it’s the same thing with property. When is the best time to invest when you can?
Yeah. Now, I think just drop them. They call it analysis paralysis. And I love that. I love that statement. And I see many people. And that’s just fear. Just start and don’t bet the whole house just started. And if you were unsure what to do in this world, starting online business, you can get a Shopify store built for, you know, under bucks. You can, you can power it, I think with the cheapest plans, like $19 a month, and start dabbling. start seeing if you can sell something or write a blog or do a podcast. Hmm. In fact, there’s something else that I’m doing, which is building an online course, which is housed on a podcast for businesses, because I haven’t seen anybody. And it’s a little bit different for businesses that focus as opposed to hobbyists, Oh, I got someone waiting for it and whatever. But yeah, yep. Think about that. Think about what you know. And move on from that. Or that’s totally it, Tony. It’s like people say, Oh, I don’t know what to do. What do you talk about the most of your friends? Or what do you read about the most on the internet, that’s what your business should be. You’ve got to, you’ve got to be passionate. And one thing I’ve learned with business, you cannot chase money, you can only invite it, and you invite it by being still being good at something, being passionate about it, and then telling others and then money comes to you.
But if you go out, you know, I heard Tony’s doing his podcast, and he’s doing well. I’ll do podcast, if you’re not into podcasts, you will never make money. You have to be passionate about it. Yeah, absolutely. That’s correct. And about being still You’re right. Again. If you’re going to start up a business, I again say to people look, you know, spend a lot of time thinking about it. spend time thinking and thinking and thinking and then do it. Don’t spend your time again, doing analysis paralysis. Think about it, think about how it’s going to actually work. Hundred percent. And you know, business isn’t complicated. It’s a service, right? You’re offering a service. So you’re fulfilling a need, or a luxury? And, you know, are you fulfilling a need? Well, ice cream is education is, you know, it’s not, it’s not that hard. And you don’t I think people get invention and small business mixed up. They think you have to be an inventor to be an entrepreneur, or you have to create some amazing thing that’s never been thought of before. And if you look at like Richard Branson, he saw records. That’s not entrepreneurial. That was done before, but he just did it well.
Tony skinner 07:49
In fact, he’s got one of the most famous books or most popular books for me from entrepreneurs. It says, screw it, just do it.
Exactly. Which is just another way of saying, dont have analysis paralysis. Just start., Yep, exactly. And of course, you’re not Yeah, you’re right. You don’t need a lot of money. I’m lucky. I’ve got another business that’s been going for quite a few years. And this is another one that I’ve launched. And I’ve launched multiple businesses, some have done well, some have failed. But each failure, you learn new things. And I was so tight. I wasn’t even getting business cards done. I get that. But I tell you what, if you don’t need them, don’t get them. But if you need them get them.
Tony skinner 08:38
Yeah, see, this is this is a trap for people, they get the business cards down, they get their heads down, they get the website down, they get all this stuff. But I started a digital marketing agency, and I didn’t even have a website.
Yeah, I am I always told my friends that whenever people talk to me about planning for business, they spend more time on their logo and their strap, the strap line and their colors than the actual business plan or what they’re actually going to sell. Yeah, that’s funny isn’t why, again, I think it’s just that avoidance strategy of Yeah, we’ll do this. And I’ll do this, and I’ll do this. And I think the number one or number two rule is yes, spend the business’s money, I wait for money to come in for this business in particular. And when it comes in, and I spend it on the business, and then I wait for more to come in and spend more on the business. Yeah, you must push it back into the business. And you must be free. I mean, don’t do stupid things. But you mustn’t be frightened to buy the thing that you need and that money comes in you buy it. And that’s why I think you have to start if you’re not sure, do it, do a part time business on the side and then see how it goes. And if it goes well then then you can put all your efforts into it. But there’s nothing wrong with having little feelers out.
Tony skinner 09:54
Yeah, and that’s quite quite smart way of doing it because a lot of businesses started that way. And they took off because they took off.
Yes. Yeah, I am. I talked to a lot of business people. And when it goes big, they’re nearly always as surprised as their friends and family. I don’t know why some things go big and some things don’t. But I often think it’s not because they pick the right thing. They were in business. So kudos to you, it takes a lot of guts to run your own business. And then forces can come and if you’re a good operator, and the forces are fireball it goes, boom. And of course, COVID is a classic example. If you owned a business that sold dumbbells, you went through the roof, because everyone bought dumbbells for the home gyms for the close gyms. If you owned a cafe, you got screwed. And I think that happens in business, but you can’t play the game unless you own and operate a business.
Tony skinner 10:48
Yeah, exactly. No, I mean, you know, it’s unfortunate. Yes, you could have been that person open that cafe and the crisis hit. And it could have been a person that started importing dumbbells and barbells. But you know, what, don’t overthink it. Correct? Just get out and do it.
Yep. And just try to set it up. Like, the way I didn’t do it. When I started. Chiro years ago, I went to a bank and took out a large loan, you know, got a commercial property, your rental, figured it out. It was you know, 10s and 10s of thousands of dollars, which was a lot for me when I graduated from uni. That’s not good. That’s not the way to do it. Just do it smarter. Do it in a way so that if it collapses, you can get out a lot easier. Yeah. And look what we’re touching on that there are smarter ways. Okay. So give me an example. This crisis hit. And the government says, Okay, we’re gonna lend money to the banks at 0.25%. And the banks can lend it to small businesses. And as a small business, I got in touch with my bank, I don’t really do much with.
And I said, Yeah, yeah, we can do that. Yeah, guaranteed four and a half percent. And I’m thinking Hang on, you’re paying 0.25. The government’s covering half the risk. Okay. Yeah. However, a few years ago, I’d set up some lines of credit on my mortgage, because I was going to buy some investment property or whatever. And guess what the interest rate on that is lower than what this loan is? So yes, get smart. And also just say, I got used to, I was kind of, I think very polite. And so I got very used to saying, No, thanks. Do you have a better offer? Just keep saying that to what everyone’s trying to do something? No thanks. Do you have a better offer? You’d be surprised how quickly people pull their pants down to get your business?
Tony skinner 12:40
Yeah. And what we’re talking about that wonderful word, though. Okay. Yeah, this is one of my things at the moment, is learn how to say no, because not every single person that you talk to about your business is interested in giving you money for what you tell them. Learn how to say, you know things, oh look, I’m running a business. My other business is to do SEO and Google ads and I get lots of people and look, I’m running a business, If you want some advice, happy to help you get in touch and we can have a chat about it.
Yeah, I agree. So services, know your worth. Agree.
Tony skinner 13:25
Yeah, exactly. And that’s the thing, again, being prepared and knowing how much you can actually charge and charge it. Don’t be afraid to charge? Yeah, absolutely.
Absolutely. We, um, you know, we put up our prices, you know, I don’t know how many times the last 20 years and the chiros that work for me, they’re like, Oh, you know, up by $5 a consult and people will be you know, complaining and it’s never happened. It’s never happened. If you do a good service, and you charge a good price, people are very happy to come. And sometimes the opposite occurs. Hey, if you appear a little people just assume you must be an expert. And then they have really come down.
Tony skinner 14:03
Yeah, exactly. And that leads us to the other side, which is discounting, you know, sure, you can do specials and when you’re new, but when you’re established, no, just kidding.
No. 100% Look, I’ve got six chiros that work for me. And one of them is a massive discount. So he’s the busiest but he doesn’t have the highest turnover because he discounts too much. It’s crazy. And we’re trying to rewire his brain so that he has a better relationship with money. Because why discount he’s like an awesome chiropractor. He treats me of all the six I go to him. But yeah, he has a bad relationship with money, which means you have to look at, you know, your own self worth and your own relationship to money. Why do you need to discount?
Tony skinner 14:45
Yeah, look, you know what, I read something and it says what I actually do is, you know, you go shopping, you go to the supermarkets.
Tony skinner 14:55
And you go through those, you got a choice. You can queue up be served by somebody, or you can queue up and do it yourself. My queue up and get served by somebody because I’m not being paid to scanner. I’m not the checkout person. I’m not being paid to do the bloody job my value my time too much.
Yeah, no, I totally get that concept. The first time I saw I thought that’s smart from Coles and Woolworths point of view that just like monkeys, were doing all the work. And the other thing is when people ask for discounts, I’m like, you know, if you go to a restaurant and you order a nice steak, and it’s $40, you don’t have the way to pop it down, go, look, I’ll give you 30 for it. The price is the price. You don’t discount a restaurant, you don’t discount. You don’t say, hey, look, you’re not gonna be on the entree, because I’m going to get a dessert from you. It’s just not the way it’s done. And people particularly in my business, health, professional health services. Do not discount your prices. Hmm. Yeah, I couldn’t agree more man.
Tony skinner 15:54
Yeah, exactly. So you know, be prepared to pay don’t discount and, you know, screw it, just do it. Great attitudes, and other tips you’d like to pass on?
Um, yeah, look, I think a business is a magnifying glass of everything that’s good about me and everything that’s bad about me. So if you want to have a good business, you better actually get your own thoughts inside your head, completely organized. And the better I become personally developed, the better my businesses become because they are a reflection of me. So I say get your head right.
Tony skinner 16:27
Yeah, exactly. And you know, just Yeah, exactly. Yep. Get into it. All right. Yeah. Cheese. Adam. Thanks so much for your time.
Awesome. Thanks,mate. Cheers.