Five ways to build a more resilient business

When conditions are challenging, the immediate priority is often getting through the next week, month or quarter.

Tindo Solar CEO Richard Patterson describes resilience as "performance under pressure". Rather than simply holding on through difficult conditions, he says resilience comes from continuing to perform, identifying opportunities and maintaining a focus on growth, even when the environment is challenging.

For Bowhill Engineering CEO Jodie Hawkes, the early years of the family business were focused on survival. Over time, the business made a deliberate shift towards building the systems, people and capability needed to grow and thrive.

While immediate pressures still need attention, making time to strengthen your business can leave you better placed to respond when conditions change.

River Murray Dark Sky Tours owner Kelly Kuhn launched her tourism business shortly before COVID-19 and later faced further disruption from the Murray River floods.

She continued to adapt her offering as circumstances changed. Dark Sky tourism, which grew after the region was declared an International Dark Sky Reserve, now accounts for around 60 per cent of her business.

Her experience has reinforced a simple lesson: don't rely on one plan. Be ready with plan B, C, D and E.

Adapting does not always require a complete change of direction. A new product, service or customer group may allow you to use your existing knowledge and assets in different ways.

Kelly Kuhn believes one of the biggest traps for business owners is comparing themselves to others.

While growth is often seen as the measure of success, Kelly has deliberately capped group sizes on her stargazing tours to maintain the personalised experience that sets the business apart.

She encourages business owners to focus on their own goals and values rather than chasing someone else's definition of success.

For Jodie Hawkes, growth has looked very different. A significant project for Bowhill Engineering created demand well beyond the business's expectations, requiring investment in new systems, equipment and ways of working to keep pace.

Their experiences are a reminder that growth doesn't have to look the same for everyone. The key is being clear about where you want your business to go and making choices that help you get there.

Never Never Distilling Company co-founder George Georgiadis said major opportunities rarely appear overnight.

Years before the company's acquisition by Asahi, the business focused on building industry relationships and establishing itself as a trusted brand.

George said potential partners need confidence in a business before they are willing to invest in it and building that confidence takes time.

Richard Patterson reinforced the importance of being clear about what success looks like and ensuring your team understands it too. A shared understanding of priorities can help businesses stay focused and better positioned to take advantage of new opportunities.

Whether your goal is expansion, a new partnership or entering a new market, the work often starts long before the opportunity appears.

Business owners often carry responsibility for staff, customers, finances and difficult decisions.

Trusted relationships can make a significant difference during challenging times. Industry peers can share experience, advisers can offer specialist knowledge, and business networks can provide practical support and valuable connections.

Several panellists spoke about the importance of asking for help and learning from others. Rather than trying to navigate challenges alone, they encouraged business owners to find their “tribe” and lean on trusted networks.

Jodie Hawkes highlighted the role of community in regional areas, where businesses often rely on one another for support, knowledge and encouragement.

Having trusted people to turn to can make it easier to manage pressure, gain perspective and make informed decisions. Strong support networks can also help business owners look after their wellbeing and remain present for their staff.