The first 100 days can make or break a small business – and without the right guidance, many won’t survive. That’s the warning from Geoff Silk, one of NSW’s most experienced business advisors, who has coached hundreds of start-ups through the state’s Business Connect program over the past eight years.
Business Connect, a free government-funded advisory service, is set to be axed on 30 September, raising concerns that many new business owners will be left without support.
“Fail to prepare properly and the first 100 days can quickly spiral into stress, cash flow problems and dwindling sales,” Silk says. “But put the right steps in place and you’ll lay the foundations for sustainable growth. None of what I’ve described comes naturally to first-time business owners, which is why programs like Business Connect are vital.”
Three keys to survival
From his years of experience, Silk says survival often hinges on three critical factors: planning, cash flow, and customers.
1. Plan like your future depends on it
“Too many owners rush in without analysing their model: what they’ll sell, who to, and how. A feasibility study is essential,” he says.
He recalls a client who spent 15 months preparing while still in full-time work. By identifying a market gap for a women’s grooming device, arranging manufacturing in China, and securing a TV personality for promotion, the client sold out an entire shipping container of stock in just two weeks.
2. Nail your numbers
“Cash flow is the oxygen of a business. Run out of it and you won’t survive,” Silk warns. He recommends forecasting revenue and expenses and keeping three months of operating costs in reserve.
One auto repair client was losing money on unpaid travel. After adjusting his pricing and systems, the business turned profitable within a quarter and is now thriving.
3. Find and focus on your customers
“Unless you define your customer segment and target it directly, you’ll fall short,” he says.
Silk recalls a food vendor working seven-day weeks without profit. By introducing pre-orders for nearby offices, sales tripled, and he cut back to five days. “Success often comes from working smarter, not harder.”
Why support matters
Silk believes programs like Business Connect are often the difference between survival and failure.
“Through Business Connect, I’ve helped hundreds of owners sharpen their plans, manage cash flow, and grow sales. Without it, 850,000 NSW small businesses will lose access to vital advice. I urge the government to reconsider.”
Your First 100 Days: 5 Must-Do Steps
- Test your idea first
Run a feasibility check – know what you’ll sell, who to, and how you’ll reach them. - Plan for cash flow
Forecast monthly income and expenses, and keep three months of operating costs in reserve. - Know your customer
Define your ideal customer segment and target them directly – don’t try to be everything to everyone. - Work smarter, not harder
Look for ways to streamline operations, like pre-orders or delivery partnerships, to maximise return on effort. - Seek expert advice
Don’t go it alone. Tap into professional support programs, mentors, or networks early on.
