This is sponsored content for the Launceston Chamber of Commerce.
Everyone would agree that winning an award is pretty terrific. Who can forget the buzz of winning your first sports medal in school or maybe a spelling or maths competition?
When you're running your own business there are plenty of awards to be won if you are willing to put in the effort to apply and have the courage to have your enterprise examined.
But are there tangible benefits for you and your business beyond the excitement of winning and taking home the trophy?
Neil Grose, executive officer of the Launceston Chamber of Commerce which hosts the city's annual TasPlan Business Excellence Awards program that's grown to be the largest of its kind in Tasmania, said the feedback from participants was absolutely yes.
Mr Grose said businesses who have been involved in the award - coming up again in October - report that even just taking part in the process can deliver many rewards.
"The awards are a chance to gain recognition for your business but they are also an excellent opportunity to understand more about your business," he said.
"One of the most consistent themes in feedback is the beneficial scrutiny of business processes, aims and aspirations."
Steven Steer, whose business Cranka Lures was the winner of the Innovation and Technology category at last year's awards, said the victory had "absolutely" helped boost the business.
"It was really exciting to win and we've found it very beneficial to the business," said the founder of the Deloraine-based fishing lure company.
"I think it shows that we're doing the right things and means customers can see we're at the top of our game. We had politicians visiting us, radio programs contacting us to talk about the business, it's been amazing.
"The exposure to our customers was massive and we had people calling in to us who before didn't know we existed. It brought customers in and made them aware that we were selling an award-winning product, that we were a Tasmanian business doing well."
Mr Steer said going through the process of the awards - which includes finalists presenting to the panel of judges - was also a valuable exercise.
"It makes you look into your business and analyse what you're doing, stepping back from that day-to-day management and look at it from the outside," he said. "It certainly helps the business I think."
Phil Beeston, general manager of Launceston architecture, design and marketing company S. Group which took out the 2018 Exceptional Workplaces award and is a previous Business of the Year winner, agreed that while winning was exciting, the awards process was an opportunity in itself.
"It can sometimes be a bit time consuming pulling together an award entry but it's actually one of the rare times you do stop and audit yourself as an organisation, really pause and reflect on the business and what you are doing, and where you are going," Mr Beeston said.
"And then presenting to the panel is another great opportunity to do what you don't always have the chance to do - tell your story and talk about the things you're doing really well, and be really proud."
Having your achievements celebrated at the awards also has a positive impact on your organisation internally as a significant morale booster, said Mr Beeston.
"Receiving that recognition in front of your peers is wonderful encouragement because there are just so many excellent businesses in Launceston and the northern region," he said.
"And to bring an award home is really encouraging for the team who put in all that hard work to know that they are doing a really great job."
This year's awards - the TasPlan Business Excellence Awards - mark the 170th birthday of the Launceston Chamber of Commerce. The Chamber was established in 1849 and is the oldest continuing Chamber in Australia. The founding presidents Mssrs Du Croz and Gleadow had the same view as today's presidents - that "the voice of business must be heard loud and clear in the corridors of power and in determining the future of the city of Launceston".
This is sponsored content for Launceston Chamber of Commerce.