I’m Turning 73 This Year. It took me 47 years to learn these critical business lessons.

If I could go back and talk to my younger self,

I’d tell him this:

“You’re not as alone as you think. And you don’t have to figure everything out on your own.”

(and also: the mullet haircut will make a comeback. And maybe buy some Bitcoin.)

It took me decades, 47 years, to be exact, to fully understand that success in business isn’t just about working hard. It’s about who you surround yourself with, the mentors you learn from, and the network you build.

My father understood this long before I did.

Hard work and grit are overrated.

My father built a business from nothing.

After World War II, he started a dry-cleaning shop with no money, no stability, and no guarantees. The economy was uncertain, and the future was unpredictable. But despite all of that, he found a way to make it work.

Don’t get me wrong.

My dad worked very hard. Long hours. On weekends. Through public holidays. And even occasionally on our family holidays. But most entrepreneurs work hard. I’d guess that hard work made up 50% of my dad’s business results

The other 50%?

My dad had something more valuable than money:

He had people in his corner.

He wasn’t navigating the business world alone. He had mentors, connections, and access to resources most entrepreneurs never get. He knew people who could guide him, support him, and open doors he couldn’t open himself. That network made all the difference.

Most entrepreneurs today don’t have that luxury.

They think they have to do it alone.

I see it all the time. I met brilliant people with great ideas who struggle because they don’t have the right network. They believe that asking for help is a weakness and that real entrepreneurs figure everything out themselves. But that’s a belief that holds people back.

No one builds anything great in isolation.

Business thrives when people connect.

As President of CACCI, I’ve seen this play out at every annual conference. Business leaders, government officials, and entrepreneurs from 27 economies come together. They share knowledge, forge partnerships, and unlock opportunities they never would have found alone.

And it doesn’t stop there.

The real magic happens after the conferences. When deals are made, mentorships begin, and networks expand. The businesses that grow the fastest? They’re the ones that leverage these relationships, not just their own individual talent or hard work.

This is what my father understood.

And this is what too many entrepreneurs today still miss.

In the short term, hard work and grit will get you started.

In the long term, networks and relationships will help you scale.

The ‘Lone Wolf’ is a myth

In our society, we glorify the visionary Founder.

The person standing on stage who risked everything to make their dream work. They endured criticism, setbacks, and constant failure until they succeeded. While this makes for a great story. It’s a misleading one.

No business—no empire—is built alone.

One of my favourite quotes…

“If you want to go fast, go alone.

But if you want to go far, go together.”

I’ve seen this truth play out in business, politics, and philanthropy.

When I ran my own businesses, I was the decision-maker.

But success didn’t come from me alone. I had business partners, advisors, and a strong team behind me. Every major success came down to collaboration, shared knowledge, and the right people working together toward a common goal.

The same was true in my time in politics.

During my years as Mayor and councilor in Geelong, I learned that leadership isn’t about standing on a podium and dictating change. Real leadership is about building coalitions, bringing people along for the journey, and surrounding yourself with those who challenge and refine your thinking.

And it’s no different in philanthropy.

At the Good Business Foundation (GBF), I’ve had the privilege of working with incredible people like Stuart Mkojera-Thomson and many others. Despite being a relatively small organisation, we’ve been able to achieve an outsized impact.

Why?

Because we leveraged the power of networks, partnerships, and a collective mission.

This is the hidden truth of success.

It’s not about how strong or brilliant you are as an individual. It’s about who you build with, who you learn from, and who helps you go further than you ever could alone. The lone wolf myth isn’t just misleading. It’s actively harming smart, passionate entrepreneurs.

I’ve watched brilliant entrepreneurs burn out because they didn’t build the right network.

They had great ideas but no mentors to refine them. They had passion but no connections to fund or scale their businesses. They had the drive but lacked the right people to support them when things got tough.

It’s one of the biggest mistakes I see.

The most successful entrepreneurs I know personally aren’t lone wolves.

They seek advice, they build partnerships, and they lean on people who have walked the path before them. They understand that success isn’t about proving they can do it alone. It’s about surrounding themselves with the right people to go further, faster.

Because no entrepreneur can succeed alone.

The hidden power of networks.

I know what you’re thinking.

That’s great. But what if I don’t have the right connections? What if you don’t come from a wealthy family?

I could talk about my family, how my grandparents lost the family home in the Great Depression. I could talk about how my father built his business from one shop front in Fitzroy. I could tell the story about losing my mother at the age of 6 and how I still have managed a full and vibrant life.

But I know we were still privileged compared to many.

But even those who are privileged never find the right network for success. In my experience you need to actively build and nurture it.

Your network doesn’t have to start with high-profile investors or industry leaders. It starts with the people around you. Mentors, peers, and like-minded entrepreneurs also navigating their own business journey.

It grows by showing up, asking questions, offering value, and staying engaged.

Some of the best connections I’ve ever made weren’t because I had money or status. They were because I put myself in the right rooms, contributed to conversations, and built relationships over time.

This is exactly why I’m launching the Good Business Network (GBN).

I want to create an ecosystem where entrepreneurs don’t have to struggle alone. Where they can connect with the right people, get the right guidance, and grow their businesses without years of trial and error.

Your business model will come and go. But your network will endure over time.

Your network is the real lifeline.

Join the movement…

At 30, I believed it was about working harder than everyone else.

At 40, I thought it was about having the best product.

At 50, I thought success was about revenue.

At 60, I was sure it was strategy.

Now, at 73, I can tell you this.

It was all wrong.

All of these things are necessary but not sufficient.

Everything in business is about relationships and networks.

That’s why I’m creating the Good Business Network.

This is a network I wish existed 47 years ago.

The Good Business Network (GBN) is for entrepreneurs who want to build profitable, impactful businesses. But they don’t want to do it alone. It’s a place to connect with mentors, find opportunities, and get the support you need to succeed.

Because business isn’t just about ideas. It’s about who helps you bring it to life.

Your network is your greatest asset.

You don’t have to figure it out alone.

The GBN is about making sure no entrepreneur is left behind.

The first step? Sign up for the newsletter.

You’ll get access to insights, opportunities, and updates as we build this network together.

Let’s build your business faster and stronger. Together.

Till next time,

Peter McMullin AM.