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be your

realjobs realpeople realexperiences

own Boss
BIG Making it in business

Australians tell
how they created
their own careers

SARAH
JAMES
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Be Your
Own Boss
Making it big in business

By Sarah James

Australia

Published by Career FAQs Pty Ltd

BYOB_FINAL_16_12_06.indd i 18/12/06 9:21:24 AM


© Copyright Career FAQs Pty Ltd, 2006

This book is copyright. Apart from any fair dealing for the purpose of private study, research,
criticism or review, as permitted under the Copyright Act 1968, no part of this publication
may be reproduced by any process or by any means, electronic, photocopied, recorded or
otherwise without prior written permission of the copyright owner. Inquiries for reproduction
should be addressed to the publisher, Career FAQs Pty Ltd.

Published by
Career FAQs Pty Ltd
Suite 76, The Hub
89–97 Jones Street
Ultimo NSW 2007
+61 2 9282 9383
www.careerfaqs.com.au

National Library of Australia


Cataloguing-in-Publication entry:

James, Sarah.

Be Your Own Boss: Making it big in business.

ISBN 9781921106446.
1. New business enterprises – Australia – Planning.
2. Entrepreneurship – Australia. I. Title.
658.110994

Publisher: Sue Stevens


Author: Sarah James
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Career FAQs acknowledges the following copyright owners for permission to reproduce their
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Every effort has been made to contact copyright owners and obtain permission. However,
should an infringement have occurred, Career FAQs apologises for the omission and
requests that the copyright owner contact them.

Disclaimer
The opinions and statements made by people who contributed to this book are not those of
Career FAQs. The publishers do not claim to represent the entire extent of the professions
included and extreme career choices. The aim has always been to provide a broad overview of
the possibilities available.
As such Career FAQs Be Your Own Boss does not purport to be a true and accurate record of
the different industries mentioned in the book, relying on the voices of those who tell their
stories. Inaccuracies may arise as a result of the nature of this book. Users should follow the
links to actual websites of organisations for latest accurate information.

An imprint of Career FAQs

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Foreword
Choosing to be your own boss rather than work for someone else is
a very stark choice, and the more that you can go into it with your
eyes open the better. Also, once this decision has been taken, you are
by definition out on your own. This guide by the terrific Career FAQs
people should thus be invaluable. The practical assistance it offers for
both deciding whether or not to take this step and for moving forward
once you make this decision will prove invaluable to many people.

Deciding to go out on your own is likely to prove over time to be either Andrew Bassat,
one of the best or one of the worst things you have ever done. For many, Joint CEO and co-founder,
SEEK
the experience will be one characterised by positives such as being in
Andrew is responsible for overall
control of your destiny and reaping more directly the fruits of your own strategic direction, progress
of expansion opportunities,
labour. For others, however, the increased pressure and risk levels will acquisitions, strategic alliances
dominate and sour the experience. Being alive to the pros and cons with key partners and online
marketing at SEEK. He leads
and understanding whether you are personally suited to the boss road the strategy and business
development team and is also
are worth thinking about before you press the button. responsible for SEEK Learning.
Prior to co-founding SEEK,
There is a saying, reputedly from the Russian army, to the effect of ‘I’m Andrew was a management
consultant with Booz Allen &
the boss, you’re an idiot. You’re the boss, I’m an idiot’. This may well Hamilton and prior to that worked
be true, but from personal experience, it is possible to spend a large as a solicitor at Corrs Chamber
Westgarth. Andrew holds a BSc
part of the initial period once you start on your own venture thinking (Comp Science) degree from
that the idiot is you! A maze of issues can confront you even before the University of Melbourne, an
LLB (Hons) degree from Monash
your first sale: business plans; structural, legal and accounting issues; University and a MBA degree
from Melbourne Business School.
how to structure the venture; raising capital; hiring people and so on
and so on! The more help that you can get to navigate this maze, the
better off you will be.

The lack of a ‘big idea’ should not be a barrier to you setting up on


your own. These are few and far between and the key to enjoying and
being successful in your venture is usually more about simply finding
something that you are passionate about and doing it well. A critical
part of doing this is choosing carefully the people that you surround
yourself with – I was very fortunate to start with great partners and a
passionate team that just keeps on getting better. Financial rewards,
if they happen, usually flow as the output of doing something well,
rather than when they are the overriding goal.

iii

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Be Your Own Boss

Personally, I have never regretted the decision to go and do something


on my own. As soon as I got started, I became certain that being my
own boss was the right path for me. If it hadn’t worked out ok the first
time, I would have had a crack at something else myself again.

I thoroughly recommend this book to those who are considering this


path. If you do decide to go ahead – enjoy the ride!

Andrew Bassat

iv

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Contents
Foreword iii
About Career FAQs ix

The big picture 1

Why be your own boss? 1


What does it mean to be your own boss? 4
What’s happening right now? 6
Small business in Australia 6
Where are the market opportunities? 7
How much can I earn? 11
Who can help me? 12
Government 12
Business Entry Point 13
National Innovation Council 13
Small Business Field Officers 13
Smart Start 13
Private 14
Australian Businesswomen’s Network 14
Australian Chamber of Commerce and Industry 14
Australian Electronic Business Network 14
Council of Small Business Organisations of Australia 15
Enterprise Network for Young Australians 15
The Frank Team 16
Speed Business Networking 16
Young Achievement Australia 16
Young Business Network 17
Get a leg up 17
Australia Post’s small business awards 17
City of Sydney’s Outstanding
New Innovative Business Awards 18
Keep Australia Beautiful Awards 18
The New Enterprise Incentive Scheme 19
New Industries Development Plan 19
Nescafé Big Break 20

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Be Your Own Boss

Telstra Business Awards 20


Universities 20
Australian Innovation Festival 21

Go nuts! 25
Brent Hall – Bush Rat Enterprises 26

Make an impression 33
Adrian Bold – Bold Impressions Ltd 34

Write it right 43
Jill Farrar – Muse Copywriting 44

Taking off 49
Paul Pingiaro – TrackAir Adventures 50

Look hear! 57
Mike Straight – 2-Sense Productions 58

On your marks 67
Leonie Nichols – Athlete For Your Event 68

Show me the money 75


Jacob Waks – RiskProtect Pty Ltd 76

Wish you were here 83


Travis Pittman – Bugbitten.com 84

Eat your greens 91


Luke Baylis – Sumo Salad 92

Cheers! 97
Cath Willcock – Wine for Dudes 98

Caught in the web 103


William Swayne – Marketing Results 104

Well, well, well! 111


Marisa Camilleri – Melbourne Naturopathic Wellness Clinic 112

Sock it to ’em 117


Lara Fletcher – LaRoo 118

vi

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Get into gear 125
Ben Beard – Codewear 126

Home work 133


Sarah Bickford – Modabode 134

Taking the plunge 139


Amanda Stevens – Splash Consulting Group 140

Rugrats 145
Anita Gleeson – BugRugs 146

Driving ambition 151


Nic Lowe – GoGet Car Share 152

Fashion conscience 157


Kylie Taylor and Valerie Khoo – Taylor & Khoo 158

Smoothie operator 165


Janine Allis – Boost Juice 166

Champion effort 173


Vaughan Richards – RMG Pty Ltd 174

Ready, set, go for it! 183

Do I need qualifications? 183


University courses 184
Bachelor of Business (Management) 185
Bachelor of Business (Entrepreneurship) 186
Bachelor of Business Administration 187
Postgraduate courses 188
TAFE courses 188
Professional development and industry courses 190
Government programs 191
New Enterprise Incentive Scheme 192
Mind your own business 193
Write your business plan 193
Know your product 194

vii

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Be Your Own Boss

Do your research 195


Work out your finances 196
Public grants and subsidies 196
Tips for submission writing 197
Writing project budgets for grants 198
Private investors 199
Business finance 199
Meet an expert 200
Bruce Munro, National Australia Bank 200
Don’t break the law! 201
Get some attention 202
Tips for corporate branding 203
Launch your businss website 203
Running your business online 204
Hire the right people 205
What can I do right now? 207
Buzz words 209
Appendix 211
Sample websites 211
Photo credits 213

viii

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About Career FAQs
Whether you are just starting out, changing jobs, moving up the
ladder or returning to work after a break, Career FAQs books give the
inside story on just about any job you can imagine.

Don’t end up in someone else’s life.


A career choice is really a life choice.
Will Santow, Managing Director, Career FAQs

What makes our books different?


In each book, employees, employers,
Career FAQs is recruiters and industry experts tell their
Australia’s leading stories – so you can really tell if this is the
careers publisher, right career for you. You’ll find out what is
with a dynamic happening right now in your chosen area,
new approach to get the inside info on the qualifications
making career you need and where to get them, and find
choices. out what current employees really love
about their jobs.

You also find out how to stand out from the crowd and get that dream
job, with our industry-specific résumé, cover letter and interview tips
and examples.

Career FAQs is Australia’s leading careers publisher, with a dynamic


new approach to making career choices.

I started Career FAQs because of my own difficulties in finding


empowering, high-quality, up-to-date career information to help
me make career decisions.

I wanted to change careers in my 30s, but trying to research a


new direction led to a dead end – there was no interesting and
reliable information on the qualifications I needed for different
jobs, the opportunities available, likelihood of succeeding, or,
most importantly, what the work would be like once I got there.

I know that our books can make such choices easier by giving
our readers the information they need to find a career that
meets their dreams and aspirations.
>>

ix

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Be Your Own Boss

Our range covers the usual career areas, as well as moving well
beyond ordinary categories into careers you may never have
thought of. There’s a great job out there waiting for you and we
can show you what it is and how to get it.

A big thanks goes out to the many people who have taken
the time to talk to us and shared their experiences with our
readers, as well as to the many eminent Australians who have
written forewords to our books, sharing the insight and wisdom
that has helped take them to the top.

For a list of current titles, please visit our website,


www.careerfaqs.com.au.

With Career FAQs you have all the tools to find your dream job.

Good luck!

Will Santow
Managing Director
Career FAQs

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How to use this book
The Expand Your Horizons series of books are designed to suit the
theme of the book. Be Your Own Boss has been structured to make
it easy for you to find yourself in the CEO’s chair of your very own
company, faster.

The big picture gives you an overview of the current environment for
budding entrepreneurs in Australia. It explores the available support
networks for startup businesses and some of the awards and grants
that are given to innovative new businesses.

This is followed by the chapters that feature interviews with


Australians who have started their own businesses. You’ll learn about
where the concept and the funding came from, the development of the
company and the gems of wisdom the entrepreneurs stumbled across
on the journey.

Ready, set, go for it! You’ve read the stories, you know how they got
there – now it’s your turn. Where to start? This section gives you the
lowdown on how to get funding, write the business plan, hire staff and
more.
fyi
To help you navigate through the text and also find information
Many words, phrases,
beyond this book, the following icons are used throughout.
abbreviations and
acronyms are defined in
buzz words at the back of
is a snapshot of each interviewee’s career this book.
cv pathway – it shows some of the stepping stones
along the career path that led to their current
position

directs you to another Career FAQs title that might


detour
interest you

tells you where to find out more about a


find out
more particular topic or organisation

provides interesting additional information, which


fyi might come in handy!

xi

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Be Your Own Boss

provides a brief definition of a word, term or


glossary acronym that appears in bold in the text

in sums up a specific job, including salary,


brief qualifications, number of hours worked, life–work
balance and flexibility, as told by our interviewee

explodes a popular myth about the industry or


MYTH
profession
fact

xii

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The big picture
Why be your own boss?
Do you hate being pushed around? Would you rather run the show
than be a lackey for some hotshot? Do you think outside the square?
Maybe you’re just a daredevil and like taking (calculated) risks.

If you’re the sort of person who’s always coming up with new and
exciting ideas and revel in making them happen, you’re just the type to
be your own boss. You’ve probably been honing your entrepreneurial
skills since you were selling biscuits in the school playground for five
cents apiece. But now it’s time to turn professional.

There’ll be no making coffee behind the scenes for you – you have the
power to determine your own professional direction. The key is to turn
your passion and your business nous in a profitable (and hopefully
worthy) direction. The good news is that in today’s day and age, success
is more accessible than ever. Anyone sitting at home in their pyjamas
can turn a profit as long as they’ve got a computer in front of them.

Want more quality career resources


from Career FAQs for FREE? Click here 1

BYOB_FINAL_16_12_06.indd Sec1:1 18/12/06 9:21:48 AM


Be Your Own Boss

Being your own boss is all about taking an idea and turning it into a
reality. You have to be able to think independently, calculate and take
risks and redefine business boundaries. Going it alone can be hard,
but it can also be very rewarding – financially, mentally, socially and
emotionally. Below are some of the upsides and the downsides to
being your own boss.

Pros Cons
■ independence ■ long hours
■ feeling of self-worth ■ sleepless nights
■ ability to define your own lifestyle ■ uncertainty
■ business recognition (read: the ■ no or few colleagues
potential for fame and fortune)
■ cash flow concerns
■ creative freedom
■ the potential damage to your ego
■ power to hire and fire people if it all goes awry
■ luxury of delegation (unless you ■ financial liability (this is the
have no other employees to scary one!)
delegate to!)
■ ultimate control

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I think being on call 24/7 and the initial cash flow are the things
that kill you. In a new business you’re always worried about cash
flow, and whether you’re going to break even, or make a profit
or loss.

But on the flipside, the only people you take orders from are
yourself, and when something goes really right and you see that
total customer satisfaction it gives you a fantastic feeling of
self-worth and achievement.
Paul Pingiaro, TrackAir Adventures

The best news for any budding entrepreneur is that the blueprint for
being your own boss cannot be reduced to statistics on age, race,
gender, social status, educational background or industry experience.
Instead, it is determined by a personal mindset of innovation, success,
hard work and perseverance. But be prepared to work under pressure!
Whether you are a graduate of university or the school of life, you
alone determine your success.

Many budding entrepreneurs face the same issues when first starting
out. While the great idea is bursting to be realised, the challenges
of securing your cash flow and building a customer or client base
affect all who take the plunge and choose to run their own business.
Needless to say, this can cause a fair bit of stress!

Michael
re ss ed ? E ntrepreneur k hear”
What, me st o is interviewed in “Loo
h
Straight, w

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Be Your Own Boss

What does it mean to be your


own boss?
We’re not talking about being any old boss here. Anyone with
leadership skills and a business degree can become the manager in
their workplace. We’re talking about being your own boss – having the
gung ho and determination to find and forge your own path.

This doesn’t mean lazing around in thongs and stubbies all day
watching re-runs of Jerry Springer while you collect Centrelink
benefits. Being your own boss – and being successful at it –
essentially means being a go-getter.

Starting your own business is no easy feat. It won’t do you much


good to sit back and wait for things to happen – you’ve got to have
initiative up to your eyeballs. You’ve got to be nuts enough to put
yourself out there, chase the dream even if it means taking huge
leaps of faith. You have to have belief in your product or service, and
the ability to get it noticed.

In a nutshell, this means that first and foremost you have to be an


entrepreneur. But what does that word even mean?

■ Entrepreneur (French): a derivation from Old French entreprendre,


meaning ‘to undertake’.

■ Entrepreneur (modern Australian): a risk taker with the initiative,


guts and vision to turn an idea into a business.

An entrepreneur is someone who is able to recognise an


opportunity and use innovative measures to make the most
of that opportunity through change and diversity. Because
entrepreneurship is about recognising an opportunity and then
capitalising on it, anyone, young or old, university educated or
school leaver, from any industry, can be an entrepreneur.
Leah from the Australian Innovation Festival

detour Some of Australia’s well-known entrepreneurs – who boss themselves


Find out about jobs in around rather than report to anyone else – include Rupert Murdoch,
entertainment or fashion Greg Norman, Dick Smith, Akira Isogawa and Kylie Minogue.
in Career FAQs
Entertainment and Fashion. Yes, people who entertain us are entrepreneurs too. Kylie Minogue
www.careerfaqs.com.au was Australia’s leading entrepreneur (making the most money of any
industry) not so many years ago.

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Overseas, business icons such as Donald Trump, Bill Gates, Oprah


Winfrey, Anita Roddick and Richard Branson have all made their fame,
money and luxurious lifestyles through their entrepreneurial abilities.
We talked to some young Australian entrepreneurs to find out what
it takes to start your own business. The qualities they described are
indicative of everything that a 21st century entrepreneur should have.

■ Desire to create ideas, products and profit


■ Sense of perspective
■ Ability to take calculated risks
■ Need to push existing boundaries and create new ones
■ Self-belief
■ Creativity
■ Innovation
■ Practicality
■ Resilience
■ Curiosity
■ Dynamic and lateral thinking
■ Determination and patience

You definitely need tenacity and a positive, can-do attitude to


be able to see the glass as half full not half empty. You also
need to be a good problem solver and to be both creative and
practical in your thinking.
Janine Allis, Boost Juice

You’ve got to be willing to take a risk, to say, ‘Yeah, I’ll forgo


a secure salary now for the potential benefits down the track’.
You’ve also got to know the difference between good risks and
bad risks. There’s no use taking a chance if there’s really no
hope that it’ll pay off in the future.
Nic Lowe, GoGet Car Share

You have to be extremely persistent, particularly when you’re


starting out because you do get a lot of knock-backs and
disappointments and you need to be able to bounce back and get
back on track.
I think successful entrepreneurs are the ones who haven’t given
up, who’ve been knocked down but got back on their feet.
Amanda Stevens, Splash Consulting Group

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Be Your Own Boss

You need great sales ability as an entrepreneur because you


are effectively selling your product to everyone – customers,
suppliers and financiers, and to have great sales skills you need
to be a good communicator.
Luke Baylis, Sumo Salad

What’s happening right now?


If you live in Australia and have caught the entrepreneurial bug, you’re
in luck!

In 2001, the Federal government announced it would fund a $3 billion


business initiative, Backing Australia’s Ability. The idea behind this
program is to motivate, educate and support Australians who want to
find out
more take up a career in entrepreneurship and innovation through business
grants, subsidies and tax concessions.
Check out the government’s
business initiative at
In 2004, a second initiative was announced to follow on from the first
http://backingaus.innovation.
gov.au – this time totalling more than $5 billion up to 2011. The aim is to
pursue excellence through:

■ the generation of new ideas

■ turning these ideas into commercial ventures

■ developing and retaining relevant skills.

If you are considering starting a business, checking out the facts and
figures on small business in Australia is a good place to start.

Small business in Australia


Small businesses in Australia – that is, those that employ less than
20 staff – number over one and a quarter million. About two-thirds
of these are home-based businesses, and 11 per cent are owned and
operated by people under the age of 30. In other words, there are
150 000 young people in Australia today running their own successful
businesses – so there’s no excuse for you not to!

In 2005, more than two-thirds of non-agricultural small business


owners in Australia were male. However all the women out there with
entrepreneurial dreams should take this as encouragement to make
their ideas a reality and at the same time help correct the balance.

BYOB_FINAL_16_12_06.indd Sec1:6 18/12/06 9:22:20 AM


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But don’t you have to be a workaholic to be able to make it work? Not


necessarily! While a lot of our interviewees admitted starting their own fyi
business took a lot out of them in the first few months, they were all in
Small businesses account
agreement that a healthy life–work balance is vital to being successful. for more than 95 per cent
of all businesses in Australia
A recent survey of full-time small business owners in Australia sought and nearly 90 per cent of
to estimate how many hours per week they work on average. You can businesses worldwide!
Source: Australian Bureau of
see the results in the graph below.
Statistics

35–50 hrs p/w – 65.1%


51–75 hrs p/w – 30.2%
75+ hrs p/w – 4.7%

Small business owners’ average weekly hours


Source: Australian Bureau of Statistics, Catalogue No. 1321.0, Small
Business in Australia, 2001

MYTH
Where are the market a business is not a

opportunities? business without


employees
As you would expect, most small businesses are located in the
More than 50 per cent
densely populated mainland eastern states – New South Wales,
of all small businesses
Victoria and Queensland – where there are more customers for in Australia are classified
businesses to sell their goods to. as ‘non-employing’. That
fact

means they are owned


and operated by a single
person or a partnership.

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Be Your Own Boss

But before you start packing up your home in Coober Pedy to move
to the big smoke, take a look below. As you will see, the number of
small businesses in each state is directly relative to its population
throughout Australia.

% of
% of Number
Australian
State Population Australian of small
total of small
population businesses
business
NSW 6 774 200 33% 372 500 37%
VIC 5 022 300 24% 273 900 27%
QLD 3 964 000 19% 216 800 21%
SA 1 542 000 7.5% 80 000 8%
WA 2 010 100 9.8% 126 000 12%
TAS 485 300 2.3% 23 700 2.3%
ACT 352 200 1.7% 23 700 2.3%
NT 202 800 0.9% 9 100 0.9%
Total 20 352 900 999 700

Small businesses by state and population


Source: Australian Bureau of Statistics, Catalogue No. 8127.0,
Characteristics of Small Business, Australia (Reissue), 2004. First
issue 1995, reissue of main features on 29/04/2005

If you’re not absolutely passionate about one particular industry,


glossary you may spend a while choosing between industries in which to start
your business. You’ll be looking for a sector which gives you the
Unearned income means:
opportunity to make unearned income.
– income derived from
sources other than However, there is not one ‘golden industry’ – all Australian industries
employment, such as
interest and investments. go through peaks and troughs regularly. If retail is the golden child
of business for one month or year, the next month or year it may be
technology or telecommunications.

The best way to reduce your risk and get started is to utilise your
special business skills, experience and your know how.

In saying that, understanding demographic shifts and other market


related trends can help you decide what is going to be in demand in
the future.

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To get an insider’s view of the Australian market, we asked young


entrepreneurs about new market opportunities. Here’s what they said.

I think there are a lot of different things available. There


are always new opportunities in almost every field – if you can
come up with a great idea and create your own niche, there are
opportunities everywhere you look.
Paul Pingiaro, TrackAir Adventures

There are too many to count. One that I am interested in is


online advertising and commerce. There is a rapid shift away
from print and offline marketing to online and technology-
assisted marketing. Yes, ‘offline’ marketing will always be with
us, but online marketing has a long way to go and a lot to offer.
Will Swayne, Marketing Results

I think that the wellbeing industry is going to explode because


life is getting so crazy that people are looking for anything
that will help them get a little more balance in their life, not
necessarily the whole chart thing but little things like eating
organic food, taking a meditation or yoga class once a week, or
going to a naturopath; basically anything that offers a holistic
approach to improving life and reducing stress.
Amanda Stevens, Splash Consulting Group

I think one of the biggest areas will be the development of


green energy solutions. I believe we underestimate how much
we have damaged our planet, and that finding viable alternatives
for current technologies will become the focus of scientific,
political and economic policies around the globe. This will
mean great opportunities for businesses and individuals as
governments allocate more funding and resources.
Vaughan Richards, RMG

Technology. Take a look at the last decade – there has been a


massive consumer switch from landlines to mobile phones, more
people are using computers at home for business and leisure,
and high-tech equipment, such as digital cameras and video
recorders, is now commonplace in the family home.
Lara Fletcher, LaRoo

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Be Your Own Boss

Generally speaking, the good news for all budding entrepreneurs is


that the Australian economy is relatively healthy, which means that if
you’re offering a quality product and/or service, you should be able to
find a market that will be happy to buy it. And with the expansion of a
global marketplace with the Internet, there is no reason that you can’t
sell ice creams to Eskimos.

So where are the industries/business sectors where small business is


thriving?

Industry Number of small % of total Australian


businesses businesses
Retail 162 800 14.5
Communication services 19 000 1.6
Wholesale trade 57 400 5
Manufacturing 88 200 8
Construction 231 100 20
Transport and storage 71 200 6
Accommodation, 34 000 3
restaurants and cafes
Cultural and recreational 39 800 3.5
services
Health and community 77 400 6
services
Education 23 600 2
Property and business 218 600 19
services
Finance and insurance 24 900 2
Personal and other services 70 900 6

Small businesses by industry


Source: Australian Bureau of Statistics, Catalogue No. 8127.0,
Characteristics of Small Business, Australia (Reissue), 2004. First
issue 1995, reissue of main features on 29/04/2005

One thing to keep in mind is that your long-term business success will
depend on knowledge – your knowledge. Just as you wouldn’t turn up
under-prepared to an exam, you should never kick-start your business
with a half-baked idea. Unless you have the capital to outsource
specialist tasks, you need to know how to handle them yourself. This
means researching all sorts of areas you’re not quite on top of, be it
budgeting, marketing or computer literacy. It’s not always feasible to
call on the nerdy IT guy to retrieve your lost files, especially when you

10

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haven’t hired him yet.

To succeed as a business owner, you need to know the ins and outs
of your:

■ product/service

■ strengths and weaknesses (industry, professional and personal)

■ target audience

■ business competition

■ business regulations (governmental)

■ financial position.

By keeping your business knowledge up to date, you are giving your


business a greater chance of making money for five years or 50 years,
not just five months.

How much can I earn?


This one is pretty self-explanatory – anything goes! How much you
earn as an entrepreneur is dependent on whether the public takes to
your product or service and is willing to splash out to pay for it.

The conservative answer is that it depends largely on the type of glossary


business you’ve created, the size of the market you’re entering, your
Overheads means:
profit margins, your overheads, and your business’s popularity. – the costs that business
owners must pay to keep
The answer you wanted to hear is that the sky’s the limit! If you’re the business afloat, such
well prepared, flexible and know your stuff, there’s no reason why you as rent, electricity, phone
and insurance.
can’t turn a decent profit.

11

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Be Your Own Boss

Because we can’t realistically put a price on your potential business,


we’ve decided to stick to what we know is fact; so rather than saying
glossary how much you can earn, we’ve prepared this table to show you the
Turnover means: average turnover of the entrepreneurs interviewed in this book.
– the amount of money
(gross) that a business turns
over in a year. Yrs in
Age Business Recent t/o
business
20 Bush Rat $50K 1
24 Bold Impressions $200K 5
25 TrackAir Adventures $120K 2
27 AFYE N/A <1
Aiming for
27 LaRoo 2
$100 million
27 RiskProtect Happy 1
27 Marketing Results $250K 3
29 Sumo Salad $8.5 million 3
29 Wine for Dudes Making money 3
30 Naturopathic Wellness $50K 4
32 Modabode N/A <1
32 Codewear Aiming high 2
32 Splash Consulting $2.5–3 million 10+
35 GoGet Car Share Happy 4
35 Taylor & Khoo $100K+ 3
38 Boost Juice $70 million 5
38 RMG $25 million 15+

Career FAQs income snapshot, 2006–07

Who can help me?


If you need some professional support at any stage of the process,
whether you’re just hatching your brilliant business idea or you are
miles down the track – there’s plenty available.

Government
With online resources and practical support – surprise surprise,
the government can actually do something for you. Stranger things
have happened.

Want more quality career resources


12 from Career FAQs for FREE? Click here

BYOB_FINAL_16_12_06.indd Sec1:12 18/12/06 12:39:46 PM


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Business Entry Point


The federal government’s business entry point is an online resource
to all things business, particularly of the small variety. The easy-
access website offers a wealth of resources, guides, templates and
government information for business owners, new and existing.

National Innovation Council


The National Innovation Council was founded as part of the Federal
Government’s Backing Australia’s Ability. Its role is to promote
innovation and entrepreneurship in Australia, as well as provide
guidance, support and a reference point for all Australians.

Small Business Field Officers


Small Business Field Officers, previously the Small Business Answers
Program, provide practical support and information to small business
owners across Australia about all things business including taxation,
preparing for export, e-commerce and finance. Field officers deliver
the information in a number of ways, including face-to-face contact,
phone or email, newsletters, seminars, expos and field days. This
program is managed through AusIndustry.

Smart Start
Smart Start is a government website that informs people starting
their own business about intellectual property issues. These include
patents for new inventions and trademarks for names and logos.

On the website, you can find information about these issues and case
studies of how they apply to different businesses.
find out
You can also apply for a trademark or a patent through the site. more
There are also useful tools for budding entrepreneurs, including a www.workplace.gov.au

business plan template and a confidentiality agreement generator. www.thesource.gov.au


www.dollarsandsense.com.au
These are just some of the government initiatives to encourage
www.business.gov.au
small business development, as a Google search for ‘business’ and
www.innovation.gov.au
‘Australian government’ will reveal.
www.ausindustry.gov.au
www.ipaustralia.gov.au/
smartstart

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Private
There are many organisations and networks you can join that can
support you in different ways, be it online, through workshops or even
via mentoring opportunities.

Australian Businesswomen’s Network


The Australian Businesswomen’s Network (ABN) provides business
education for women across Australia and facilitates opportunities for
them to network, learn and be inspired by role models and by each
other.

Their goal is to cater to the needs of businesswomen by raising their


profiles, contributing to the achievement of their goals, providing
exposure to business success models and offering personal and
business development and networking opportunities.

Australian Chamber of Commerce and Industry


The Australian Chamber of Commerce and Industry (ACCI) is a lobby
group that looks after business interests in Australia and puts
pressure on various levels of Australian governments to protect
business interests. It also is active to make sure Australian businesses
are considered at the international level of industry.

Their membership has over 350 000 businesses which, according to


their website, makes them the largest nationwide network of industry
associations.

One way that the ACCI can help people when setting up their business
is their literature including newsletters and survey results that are
available to all on their website and which can help business owners
to make decisions about the future of their business.

Australian Electronic Business Network


The Australian Electronic Business Network (AUSe.NET) is a national,
not-for-profit organisation that encourages small and medium
enterprises (SMEs) to adopt electronic solutions to doing business.

Their aim is to espouse the relevance of doing business electronically


via the Internet, and to assist small business to get on-line.

With funding from the Commonwealth Department of


Communications, Information Technology and the Arts (DCITA)

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and with support from State and Territory government AUSe.NET


was established with a Board of Directors led by an independent
Chairman, Robert Gottliebsen. Assistance provided includes
the running of workshops throughout Australia and producing
publications that show the benefits of doing e-business.

Italy
referably at a cafe in
et as you can - p
research on the Intern
Do as much

Council of Small Business Organisations of


Australia
There are 1.3 million small businesses in Australia according to the
Council of Small Business Organisations of Australia (COSBOA)
website. COSBOA is the lobby group that makes sure that small find out
business get a fair go. The organisation helps facilitate cooperation more
between the many sectors of small business and the Government to www.abn.org.au
ensure that small business interests are taken into consideration. www.acci.asn.au
www.ecommerceadvantage.
Enterprise Network for Young Australians com.au/ausenet.htm
www.cosboa.org/webs/
The Enterprise Network for Young Australians (ENYA) makes a cosboa/cosboaweb.nsf
positive impact on youth enterprise in Australia through a number of www.enya.org.au
programs.

15

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Be Your Own Boss

These include a toll free advice line service for young people in
business; the Micro Finance Fund supporting young entrepreneurs
entering the business world; funding of the Youth and Enterprise Legal
Centre (YELC), providing a legal information service for young people
and small business owners; and Law Sense, a series of free seminars
aimed at assisting young entrepreneurs to understand their legal and
compliance obligations in running a small business.

The Frank Team


The Frank Team works with schools, universities, youth organisations
and corporations Australia-wide, providing youth-led training
workshops, business coaching and business resources for young
people aged 15–35 so they can make their ideas a reality. They
specialise in encouraging and training young entrepreneurs.

Speed Business Networking


Speed Business Networking (SBN) is a private business that helps
other businesses to grow.

Its charter is to invest small and medium sized enterprises (SMEs)


with expertise to help prevent new business failure. Figures suggest
that new SMEs are very susceptible to failure with over 95 per cent
failing in the first five years of business.

The SBN website has many articles and downloads that are free
of charge to everyone. They also run live events that are open to
everyone to attend.

Members received added benefits including referral strategies


aimed to improve sales, on-line advanced sales training, business
brainstorming and peer mentoring.

Young Achievement Australia

Young Achievement Australia (YAA) is a nationwide not-for-profit


organisation designed to assist young Australians in achieving their
business aspirations. YAA offers business mentoring and training
programs to young Australians.

It is affiliated with Junior Achievement International which currently


operates programs in over 110 different countries.

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Young Business Network


The Young Business Network (YBN) is the central portal in Western find out
Australia providing business information and support for young more
entrepreneurs 18 to 25 years (although those over 25 who can read www.frankteam.com.au
will benefit as well). Their aim is to encourage young people to join www.speedbusinessnetworking.
the many other young people who are running their own businesses. com
www.yaa.org.au
There are many young business people who start a business as a
www.youngbusinessnetwork.
career option. By joining networks such as the YBN, they help others
sbdc.com.au
to help develop as successful young business operators.

Get a leg up
Most people need a bit of help getting the business idea out of their
heads and into the real world. There are lots of local and national
grants, scholarships, schemes and competitions all around Australia
designed to reward promising start-up businesses with the necessary
financial boost. Here are a few of your options, so start sharpening
your pencils and downloading the application forms.

Australia Post’s small business awards


In addition to Australia post has been running
gaining well-deserved this award program since 1997 to
public accolade and credit outstanding performance in
small business across eight separate
respect, there’s also
categories. In addition to gaining
the opportunity to
well-deserved public accolade and
win valuable prizes,
respect, there’s also the opportunity
including $15 000. to win valuable prizes – the overall
winner takes home $15 000, loads of media coverage and ongoing
promotional support that’s sure to come in handy.

To be eligible to enter, your business must satisfy some basic criteria


like being registered in NSW or the ACT and being majority owned
and operated in Australia. From here, to give yourself a winning
chance, you need to submit a 1000 word application that outlines your
business and explains how you achieved outstanding results in your
chosen category.

For a full list of entry requirements and an official entry form go to:
http://auspost.com.au/BCP/0,1080,CH3959~MO19,00.html

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City of Sydney’s Outstanding New Innovative


Business Awards
The City of Sydney’s Outstanding New Innovative Business Award is a
category within the City of Sydney Business Awards. Business owners
are encouraged to register their business in the awards giving local
business patrons the opportunity to nominate their favourite across a
number of categories.

Voting opens in mid June with nominations accepted online via the
business awards website, local newspapers and printed coupons
distributed around the community. Next begins a two-stage qualifying
process. Anonymous mystery shoppers get sent out to assess
individual nominees for things like presentation, customer service,
quality of product and value for money. Finalists qualifying from this
round proceed to the main stage of the judging process, where things
get really tough. Everything from layout and design to staff attitude
and knowledge is scrutinised in detail to source a winner.

It’s a prestigious award well recognised in the community for paying


tribute to, and rewarding the best community businesses.

Keep Australia Beautiful Awards


The Keep Australia Beautiful Awards are part of the Sustainable
Communities program and recognise outstanding environmental and
community initiatives by business and the general community. This is
a national award with entries from every state and territory.

There are a number of individual categories including waste


management, schools, young legends and community action. All
businesses that actively work towards improving the quality of our
communities and environment are invited to register for the award
online.

Winners will not only be well recognised in the community for their
contribution to a cleaner, greener Australia, but will also benefit from
media coverage and community support.

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New Enterprise Incentive Scheme


The Australian Government New
three out of four Enterprise Incentive Scheme (NEIS)
Australian small is the initiative run through the
businesses fail in the Department of Employment and
first year, but only Workplace Relations. It is spawning
one out of four NEIS ground for 7000 new businesses
businesses fails in its each year. Participants must attend
a short course in small business
first year.
management and then prepare a
business plan that satisfies the program requirements. If successful,
the participant may be eligible for a 12-month government allowance.

Many of the people interviewed for this book have qualified for NEIS
assistance and speak highly of the program. Check out what they have
to say about this excellent program.

In its 21st year, NEIS is the government’s longest-running and most


successful employment program. This year it hit the 100 000 mark
– that’s 100 000 businesses assisted by NEIS.

New Industries Development Plan glossary


The New Industries Development Plan (NIDP) provides grants and Agribusiness means:
scholarships to growing agribusinesses to help them develop and – a business involved in the
distribute their products. The grants are pretty lucrative, between production, processing and
distribution of agricultural
$35 000 and $120 000, but you have to do a lot of work to be products.
considered. You need to show your research and development, your
proof of concept, your supply chain and your market potential.
find out
The scholarships provide $12 500, giving you the chance to support more
yourself while you build your experience and expertise. You could use
www.cityofsydney.
the scholarship to further your education, undertake research in your nsw.gov.au/Business/
area, or do work experience in a relevant sector. AwardsAndRecognition.asp
http://kab.org.au
The NIDP also publishes a range of educational magazines, CDs and
www.workplace.gov.au/NEIS
DVDs designed to help expand and develop Australian agribusinesses.
Search for ‘NIDP’ at
http://backingaus.innovation.
gov.au/

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Be Your Own Boss

Nescafé Big Break


Every year since 1990, Nescafé has been giving away large sums of
money to the winner of its Big Break competition. In 2006, the winner
received a whopping $100 000. It’s a lot of money, but it’s well earned.
The winner presents their business plan through three rounds of
judging, with the competition getting tougher every time. Then finally,
to win the jackpot, they have to win over the public by beating out five
other worthy finalists in a website poll.

Telstra Business Awards


Introduced by Telstra in 1992 to mark achievements in small business
across Australia, these awards are a tough slog and aren’t judged
– or entered into –lightly. The reward of winning, and even just the
personal reward of entering, is huge, so it’s worth a go.

There are five categories in the program and the winner of each is
eligible to be named the State or Territory Telstra Business of the
year. On top of this, the award provides businesses with a range of
benefits that money just cant buy – extensive promotion and publicity,
the opportunity to promote your achievements to the broader
community and the media and the opportunity to build new business
relationships. Oh, and for the things that money can buy, there’s also a
share in a substantial national prize pool.

The process begins by nominating your business and submitting a


detailed application that can be up to 20 pages. Qualifiers will then
have to undergo a comprehensive site visit of your business premises
conducted by one of the judges (If applicable).

Past winners of the Telstra Business Award have all said that the
find out prestige associated with this award, coupled with the rigour of the
more application process, has been an invaluable venture.
www.nescafebigbreak.com.au
www.telstrabusinessawards. Universities
telstra.com
www.enterprize.uq.edu.au/ Lots of universities and colleges run their own business start-up
www.rmit.edu.au/bizplancomp competitions, including University of Queensland’s Enterprize scheme,
www.griffith.edu.au
RMIT’s business plan competition, the Griffith Innovation Challenge
and the AGSM’s student-run Connector competition. All of these
www.agsm.edu.au
competitions require at least one member of your business team to be
www.australian-universities.com
enrolled at the university.

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Australian Innovation Festival

What is it?
The Australian Innovation Festival is Australia’s largest industry
festival comprising hundreds of events nationwide over a
two-week period. There are industry workshops, open days,
networking breakfasts, forums, exhibitions and seminars. Events
are held in every state and territory capital city and regional
locations such as Alice Springs and Cairns.

The festival was first launched in 2002 to provide an opportunity


for Australian businesses, communities and individuals to
showcase their innovation activities and entrepreneurship on
a national platform. In 2007 the festival’s theme is Innovation
Clusters, with a focus on the four Cs: Creativity, Connections,
Collaboration and Commercialisation.

The festival is now recognised as the major platform to celebrate,


promote and enhance the value of Australia’s innovative and
entrepreneurial endeavours.

Could I take part?


No worries – the festival is for everyone from students to CEOs.
In 2005, nearly half a million people Australia-wide were in
attendance.

Just about every Australian industry is represented including


fashion and design, agriculture, biotechnology, food and wine,
manufacturing, finance and commerce, education, tourism and IT.

When should I get excited?


The festival is generally held in the first two weeks of May each
year. There is a national launch – the 2007 national launch will be find out
in Sydney – followed by state launches and the official start of more
the festival. www.ausinnovation.org

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BYOB_FINAL_16_12_06.indd Sec1:22 18/12/06 9:23:07 AM
84310_SEK0092F_250x176 16/12/05 5:08 PM Page 1
Go nuts!
If you’ve never worked on the land before, well, it’s bloody hard work.
If you come up with some way of making farmers’ lives easier, they’ll
be very grateful, and they’ll make it worth your while.

Australia might be in the grip of a particularly nasty drought, but


agribusiness is still blooming, thanks in no small part to the thriving
research and development sector. In recent years, Australia’s dynamic
young companies have produced high-grade espresso coffee beans
from beans that would have been too small for a traditional harvest,
produced sea salt from the Murray Darling Basin and turned finger
limes from bush tucker into a desirable gourmet ingredient.

Since 2001, the Australian Government has pumped $8.3 billion into
science and innovation programs. The New Industries Development
Plan (NIDP) gives grants and scholarships to deserving start-up
agribusinesses. Clearly, Australia is very supportive of
agri-entrepreneurs.

So now you just need to come up with a brilliant idea for your own
agribusiness. How about a cow shaker, which allows the production of
pre-frothed milk for cappuccino? (That idea is a freebie. It’s all yours.)

In agribusiness innovation, you can go nuts – which is just what Brent


Hall did when he came up with an invention to help macadamia nut
growers harvest their crops.

Want more quality career resources


from Career FAQs for FREE? Click here 25

BYOB_FINAL_16_12_06.indd Sec1:25 18/12/06 9:23:08 AM


Be Your Own Boss

cv part-time workshop
Brent Hall – Bush Rat Enterprises
hand >> full-time workshop Brent Hall has always enjoyed the
hand >> owner, Bush Rat challenges of engineering. After hand-
Enterprises harvesting macadamia nuts from the
ground on his grandparents’ farm one
year, Brent saw the need for a machine
to assist farmers in collecting ground-
harvested nuts such as macadamias
and pecans. He started to develop the
Bush Rat Nut Harvester as his 2003
HSC major design project for Design
and Technology.

After Brent’s work was put on display at his school, a local farmer
bought the Bush Rat prototype. Pretty soon Brent was fielding
enquiries from other nut farmers about his new invention, so he
decided to build another one. At just 20, he now runs Bush Rat
Enterprises.

q&a
What exactly is the Bush Rat?
It’s a small, motorised, walk-behind machine that collects and sorts
macadamia and other ground-harvested nuts.
While it is designed for use in all nut orchards, it can help small
farms where the entire orchard is hand-picked or large orchards
where labourers are employed to hand-pick the areas inaccessible
to conventional harvesters. The Bush Rat is most beneficial to small
plantations that can’t justify the purchase of a large harvesting machine.

What stages did you go through before you started


your business?
I completed a prototype of the Bush Rat for my HSC and, as luck would
have it, a local farmer purchased the prototype after a school display
of HSC projects. Pretty soon I was fielding enquiries about it from
other local farmers, so I decided to give it a go and began to build
another, new and improved version.
I spent about 18 months on the development and research that led to
the initial prototype and I devoted a lot of that time to researching the
macadamia (and similar) nut industries, and the type of machinery
already used in nut orchards. I also interviewed a number of nut
orchard owners and workers.

26

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Go n
nuuts
ts

What happened next?


Then came the developing and designing of the Bush Rat prototype,
which was followed up by more testing and, where necessary,
redesigning of the Bush Rat. Once I’d designed the prototype, I started
find out
working out my costing at the various levels of production.
Meanwhile I entered myself in the Nescafé Big Break, a competition
more
www.nescafebigbreak.com.
that offers the opportunity for young Australians and New Zealanders
au
to turn their dreams into a reality and in November 2004 I was
awarded a prize of $50 000 to begin production of the Bush Rat.
Once I’d started to progress through various levels of the Nescafé Big
Break competition it became necessary for me to prove to the judges
the viability of my business. This was a very involved process but it
was also a vital step in my pre-business planning because it made me
take every little thing into consideration.

50K
l t/o:
Annua e!
Just m
t o . o f staff:
Bush Ra N
ion: !
Enterprises Biz vis of Bush Rats
p la g ue
A
Owner: Brent Hall ce of m
y
t h e p ublic fa ju st
being ’s no t
e fo u n d that lt b e c ause it e ll
‘I hav ficu to s
een dif u have
r o d u c t has b r o d u ct – yo
p our p
elling y
about s
lf too!’
yourse

t.com
ush-ra
www.b

So, when did you first start trading?


We began trading officially in October 2004 but the first batch of Bush
Rats did not go on sale until February 2005.

Was it difficult to make your business idea a business reality?


I was very, very fortunate to have the start that I did into my business.
The designing of the Bush Rat, the business planning, the logistics of
operating a business had all been thrashed out during the 18 months
of development during my HSC. It was one of the course requirements
of an HSC major design project.
Then, when I won the Nescafé Big Break, I had the financial means to
make it a reality.

27

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Be Your Own Boss

What were the most important aspects of your startup and


pre-startup process?
I feel that there were two really important steps that I worked through
that really set the groundwork for business success.
Prior to the conception of the Bush Rat, I did extensive research into the
industry itself, which continued during the development of the prototype.
Secondly, creating my business plan was really beneficial. Gathering
all the facts and variables to put a case to the Nescafé Big Break panel
that proved the viability of my proposed business was time consuming
and tedious, but it helped me go into business with full knowledge of
what I was getting into.

Did you supply the initial business capital for Bush Rat?
The $50 000 supplied by Nescafé was enough to set up my business
and get me into production. The Bush Rat now maintains itself but
having that initial startup capital was invaluable.

Do you think it is more difficult for young entrepreneurs to


get outside funding for business ventures?
Yes, I’m sure it is. You can have a great idea or business opportunity
and tonnes of commitment but I suspect that sometimes your age and
lack of business experience can make investors cautious.

Do you think you made any mistakes along the way?


I don’t think I’ve made any major mistakes along the way, but I’ve
certainly been on a fast learning curve over the past 12 months.

What is the hardest aspect of owning your own business?


While I have every belief and confidence in my product, I am by nature
not an overly confident person; and I have found that being the public
face of my product has been difficult because it’s not just about selling
your product – you have to sell yourself too!

And the best?


I like the flexibility of owning my own business. I can do all my
manufacturing outside normal working hours and still work my
full-time job with my grandfather’s engineering business, Robert’s
Machinery Service.
I am so fortunate to work at a family business and have the flexibility
to shoot over to my business if a customer arrives (my business is
located in the same complex).

Are there any personal characteristics that you see as


common amongst entrepreneurs?
To succeed in any business, you definitely need to have determination
and drive. In the final stages of the Nescafé Big Break competition I
had to fly to Sydney and give a presentation of my idea to a panel of
judges along with 11 other finalists. Being around these other finalists,
I could really see their determination to make their dreams a reality.

28

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Go n
nuuts
ts

What skills are necessary for future entrepreneurs?


You need to have a thorough knowledge of your product or venture
and the associated industry. You also have to prove your credibility in
all businesses, no matter what your age, but I believe that it’s tougher
when you’re young because you are not credited with life experience.
Know your venture inside out and prove that it works!

How important is marketing for your business to succeed?


I think marketing is important to succeed in business, but I think that
the demand varies depending on the type of business you have.
I received a lot of media coverage during the Nescafé Big Break and
I’m still reaping the benefits. My budget does not allow me to continue
that level of advertising, but I have a well-designed website and I
advertise in local and Australia-wide nut industry publications.
Attending farmer field days and industry expos, such as the Northern
Rivers Farmarama, is an essential part of my marketing strategy.

bright spark
Brent is a

Do you find it difficult to strike a good life–work balance?


Sometimes, yes. For six to eight months of the year my life is really
hectic. I work five days a week from 8 am to 10 pm as a minimum. As a
small business owner, when there is work to be done, you have to just
do it. But I do try to keep my weekends free from work – I figure that
that’s my wind-down time.

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Do you have any business heroes or mentors?


Yes, my grandfather Robert Eggins and my uncle David Eggins are
both in engineering. They have provided me with a strong background
not only in manufacturing but also in business management.

What are your top three business tools?


My workshop – as I manufacture the Bush Rat from the ground up, my
workshop, complete with all the tools and equipment needed to build
the Bush Rat, is the hub of my business.
My computer – all my Bush Rat panels are drawn on the computer
using a CAD (computer-aided design) program. I also run a
QuickBooks Accounting program for the business and pay all my bills
through the Internet.
My work phone – most enquiries, organisation of demos and
deliveries for Bush Rat are phone-based.

ry
at, in all its glo
The Bush R
With the benefit of hindsight, is there anything you would
have done differently in your entrepreneurial career thus far?
No, not so far – but it’s early days and I still have a lot to learn.

Are there any business networks, resources or support


organisations that you have found particularly useful?
My accountant has been extremely helpful and he has had some great
advice and suggestions for my business and myself.
He is a partner in a large accountancy office and has such a wealth
of knowledge backed up by years of experience. (There’s that age
thing again!)

30

BYOB_FINAL_16_12_06.indd Sec1:30 18/12/06 9:23:29 AM


Go n
nuuts
ts

What are your business goals for the future?


My original business goal was to work the business into a full-time
business, but I have decided to continue working part-time for at
least the next 12 months. Currently I am meeting the demand for my
product and also gaining invaluable skills in my full-time position.

What advice would you give to young Australians wanting to


start their own business?
There are loads of opportunities out there. I think that one of the most
important things young entrepreneurs can do when they’re starting
out in business is to check out if they are entitled to any grants or
the like. Having an extra five or 10 grand for your business, even just
having a business mentor, can give you the kick-start or boost you in
may need to make the startup process (and your life) a whole lot brief
easier. Brent Hall, Bush Rat Enterprises
Also, know your product and the market inside out. age 20
hrs/wk 25–35
What are some of the new growth industries in Australia?
quals HSC
I believe that the macadamia industry, still relatively young in life–work pretty good
Australia, is a fast-growing industry – it is showing enormous growth.

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• Ha n g
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f r ie n ds
• G o to a nd fa m
the be a ily
ch
• Watc
h m o v ie
s

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BYOB_FINAL_16_12_06.indd Sec1:31 18/12/06 9:23:31 AM


BYOB_FINAL_16_12_06.indd Sec1:32 18/12/06 9:23:34 AM
Make an
impression
In 1977, the founder and CEO of Digital Equipment Corporation,
Ken Olsen, insisted, ‘There is no reason for any individual to have
a computer in his home.’ Thirty years later and Ken’s still eating his
words – or, at least, still has the bitter taste of them in his mouth.

In all fairness to Ken, back then most computers were hideous beasts
that could take up a whole floor of a business premise if not the
glossary
whole building. These days, they are slick, smooth machines – and
this reflects what they’re capable of as industry tools. Without CGI, CGI means:
the Lord of the Rings trilogy would have had a marionette Gollum. – Computer-generated
imagery
Without ProTools, music producers wouldn’t be able to make today’s
pop artists (you choose a name) sound like they do. Without Microsoft
Office, this book would have to be written with a typewriter and no
spell-check frunction. Thanks Microsopft!

Clearly, working with computers no longer means that you have to


have glasses held together by masking tape. For most industries in
this modern age, computer literacy isn’t just a valuable skill, it’s a
necessary one – and creative industries are no exception.

We spoke to Adrian Bold from Bold Impressions who uses these


beautiful machines – computers – to make beautiful things.

33

BYOB_FINAL_16_12_06.indd Sec1:33 18/12/06 9:23:35 AM


Be Your Own Boss

cv pizza deliverer >> Adrian Bold – Bold Impressions Ltd


graphic designer >> owner,
Melbourne-born Adrian Bold had dreams
Bold Impressions Ltd of owning his own design company from
the age of 17. In 2001, a client approached
the graphic design company Adrian
was working for at the time, seeking
a stand-out method of presenting his
redevelopment proposal to Hobart City
Council.

Adrian had taught himself the elements


of 3D visualisation and realised that
re-creating the client’s proposal in
this medium would provide a much clearer representation of the
architect’s vision. After completing this project to much acclaim,
Adrian set out to establish his own 3D visualisation company, Bold
Impressions.

q&a
What is Bold Impressions?
We are one of the first three companies in Australia providing 3D
visualisation, and I’m happy to say that many of our clients (who
had previously used our competitors) testify that we are the best 3D
visualisation company in Australia.

And what is 3D visualisation?


Essentially, it’s a fusion of a number of disciplines such as 3D modelling,
graphic design, multimedia, photography, and post-production that
allows us to create tangible, visually evocative products.

How did the concept for Bold Impressions come about?


I was working as a graphic designer for another company and I was
asked to help ‘visualise’ a massive redevelopment project for
Hobart’s waterfront.
I had taught myself some 3D and picked up a course really easily
back in school, and just seeing the client’s need spread out before
me suddenly sparked the solution – if I were to create a 3D digital
model of their proposal, it would allow for a much clearer, more visual
understanding of the architect’s ideas than a scale model or sketches
could ever do.
It was a very innovative approach and the attention to detail in the
project raised a lot of eyebrows amongst the key stakeholders. The
approach was so successful I quit my employment to establish my
own company in August 2001.

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BYOB_FINAL_16_12_06.indd Sec1:34 18/12/06 9:23:43 AM


Mak e an
im pre
press
s s io
ionn

Why did you choose to start your own company rather than
work for someone else?
When I was about 17, I had a vision of running some form of design
company. I just knew that my part to play in this world would evolve
into a project director kind of role, creating new ways of marketing
clients’ products or services.
Personally, I didn’t like the idea of having to work in a stifled, big ad
agency to achieve this, and I guess I just thought through some baby
steps as to what kind of design and solutions I was going to offer.

closed
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Owner: Adrian Bold reputa
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y ing that m m.au
ions.co
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ress
oldimp
www.b

So how hard was it to turn this fantastic new concept into


a company? glossary
Establishing the company itself was easy enough. I used an
accountant to set up the business through ASIC. That cost about ASIC means:
$1000, which I was able to pay back a month later with the completion – Australian Securities and
of another small project. Investment Commission.
By far the hardest aspect was, and in some aspects still is, keeping
the money flowing through the business. This is an extremely variable
industry so always working to maintain a continuous cash flow for the
business can be a bit frustrating.
When I started Bold, I had less than $50 to my name, but I just
knew that this was the right way to go. Fortunately for me, the
establishment of Bold Impressions came at a time when I was still
living at home with my parents, and so I was able to avoid many of the
day-to-day living costs for a bit longer.

35

BYOB_FINAL_16_12_06.indd Sec1:35 18/12/06 9:23:44 AM


Be Your Own Boss

What stages did you go through before you started operating?


I did my fair share of research, and was glad to find the level of direct
competition for 3D visualisation in Australia was very low. The main
competitors were based in the UK and the USA, so I felt relieved that
there was at least some breathing room – for the time being.
Later, however, I came across other dedicated companies, also very
small start ups. I was momentarily depressed that I wasn’t alone
anymore, but also excited at the threat of competition and the
motivation to make sure we kept ahead of the field. So far, we’re
cleaning up where they have failed.

What aspects of your startup process helped you succeed?


The comprehensive research; finding out the level of competition, and
in new industries, the quality of their products and services. If you can
beat your competitors at the startup stage, then the rest relies mainly
on good marketing and business management.

d images
dimension al generate
One of Adrian”s three-

Did you supply the initial business capital?


Anyone who asks me this simply finds it hard to believe, but I
generated the capital to grow the business solely from the business’s
own earnings.
Being 19, formerly of casual employment, with no mortgage or
property security, one or two clients at most, a new business with
no financial trading history, and operating in an extremely new and
unproven area of 3D visualisation – I had no success from any loan
financiers or bank managers. I knew that if I was going to make this

36

BYOB_FINAL_16_12_06.indd Sec1:36 18/12/06 9:23:47 AM


Mak e an
im pre
press
s s io
ionn

work, it would have to be completely up to me.


Funding the business, and then growing the business without external
funding showed me a fundamental difference between my startup
company and practically all others that require seed money or startup
funding and that gave me a lot of confidence in the early days that this
venture would succeed.

From your experience, do you think it is more difficult for young


entrepreneurs to get outside funding for business ventures?
Yes! I started the company with some freeware software – I used
a client’s computer for the pitch, and from that project, made just
enough money to buy my own laptop.
From there, I had it tough for ages as I tried (unsuccessfully) to gain
a loan, seed funding and so on, from sources that simply couldn’t see
my vision and only took into account my age and lack of track record.
By my fourth year, Bold was growing revenue at 200 per cent every 12
months – I started to get potential investors knocking on my door, and
had close talks with a handful of interested people.

What would you say to young entrepreneurs who are seeking


private funding for their business venture?
Be very careful that you know investors’ intentions, and get as much
advice and background information on the knocking parties.
So far I’ve walked away from every potential investor because of two
reasons: 1. I didn’t like their character, intentions, or the skeletons in
their closets; and 2. the company was already doing okay financially
– the funds just weren’t necessary for our corporate objectives.
In the end, I figured that if there were others interested in sharing the
profit pie, it probably meant that I was doing things right, and that the
business was on track, so why not look forward to enjoying that myself?

How important is marketing for your business to succeed?


Marketing is a broad term. Quite simply, we don’t actively advertise.
There isn’t a category for us in the Yellow Pages, and potential clients
wouldn’t look there if they needed to find us anyway.
We market ourselves through our image: integrated communication
that is seamless, consistent and professional. We don’t say we’re
professional – I think saying or writing that in a brochure is defunct – it’s
up to potential clients to determine whether or not you are professional.
glossary
To market your business, particularly a B2B or client-focused business B2B means:
like ours, you need to be aware of the message you’re giving out: do – business-to-business.
you have professional presentation and solid communication skills;
are you able to speak clearly and concisely; and, to be quite blunt
about it, do you, personally, have an image that will make other
people in business take you, your services or your vision seriously?
So we have matching suits, branded shirts, brochures, websites,
project profile flyers and internal work techniques that visually all
relate to each other and look the same. It’s that attention to detail and

37

BYOB_FINAL_16_12_06.indd Sec1:37 18/12/06 9:23:50 AM


Be Your Own Boss

sense of perfectionism that I believe tells the real story to new clients.
In my industry, word-of-mouth is the best form of advertising – you
have to exceed clients’ expectations so much they go and tell the
world about you. We’ve used it successfully for five years now and it’s
great – it’s dead cheap, and because it’s not from your own mouth but
from trusted third parties, it’s by far the most effective way to grow
credence, brand and recognition in the services industry.

Do you think you’ve made any mistakes along the way?


I nearly gave up university. I think that would have been a huge mistake.
And once I had a client do the dirty on me – I was lucky that I had done
my research and knew corporate law and copyright laws inside and
out, but this client either didn’t or they thought I didn’t.
Either way, they took our work – which had arguably single-handedly
won them a multi-million dollar tender – and gave it out to various
parties for their own commercial use, which was well beyond the
scope of what I had developed it for in the first place.
I only found out about it when I received a phone call from a business
4000 kilometres away who said that they had our CD and needed
to copy and re-engineer it for a touch screen kiosk. Throughout
that whole conversation I kept my cool and made notes of how they
gained my work and after that, I went through three or four degrees of
separation until it all came back to my own client, who had promised
me sales of my work if I’d help them win a tender at subsidised rates.
When I approached them with my findings, they got mad and so did I.
They threatened to never use me again, and I threatened legal action.
My solicitors still suggest that it would be an easy court win, but I lost
an early client and for a business like mine where the focus is on client
service, that’s always a mistake.

With the benefit of hindsight, is there anything you would


have done differently in your entrepreneurial career thus far?
Honestly, I probably would have started out a lot more aggressively,
and taken bigger risks than the careful, planned approach I’ve taken,
and that would probably have grown the business faster.
I’m not saying that this is the best approach in general, but, because
it’s hindsight and I know the relative success of the business as well
as the growing number of startups within the industry, I’d say that
that’s how I’d go.

What are your goals for the future of Bold Impressions?


At the moment, I’m in the middle of planning the opening of at least
one new office (located overseas) and on top of that, I’m looking to
diversify my present business by starting up two new businesses
that will each provide a different range of services to complement our
existing products.

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BYOB_FINAL_16_12_06.indd Sec1:38 18/12/06 9:23:51 AM


Mak e an
im pre
press
s s io
ionn

Are there any negative aspects of owning your own business?


There have been many occasions when I have been so jealous of
other people my age who, after finishing university, have moved into
steady jobs and enjoy fixed income salaries. Unlike me, they have the
security of money going into their accounts each fortnight, no work
on weekends and nothing to do but enjoy life come 5.30 pm each
workday. Honestly, being a simple employee really is the easy life
from my perspective.
Wanting to combine a social life with being a young entrepreneur is
another aspect that makes starting, growing and running a business
hard. Being a relatively young person, my friends would all want me
to go out to the pubs and bars on a weekend, or laze around on the
beach with them when it was too hot to do anything else, and saying
no to them and the (immediate) good life to make sure you get a
project finished on time isn’t easy.

What about positives?


For me, owning my own business is a lot different than, say, three
years ago. Now the positives are doing what I want when I want,
having no immediate deadlines, and being able to say to my mates,
‘How about a round of golf today guys?’

Are there any particular characteristics that you believe are

o
impressio n at an exp
G iving a bold

common to successful entrepreneurs?


I believe that successful entrepreneurs are introverted, intuitive,
talented and passionate.

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BYOB_FINAL_16_12_06.indd Sec1:39 18/12/06 9:23:52 AM


Be Your Own Boss

What skills are necessary for entrepreneurs?


I believe that having a good knowledge of marketing and publicity
is essential, because you need to know how to market and/or brand
your business, and yourself, effectively – and that’s not always easy.
But business finance I’m not so sure about. I was hopeless at accounting
and maths all through school and university (unfortunately for me) so,
from my point of view, these skills are beneficial but not necessary.
A relatively recent development for me has been hiring a receptionist
who is significantly more skilled than me in these particular tasks,
but like I said, that is fairly recent, and to get the company to a point
where it could afford a numerically-literate receptionist I had to do
the hard yards which, despite my natural aversion for accounting and
numbers, meant that I had to make the figures work.

Do you work long hours?


Definitely. Every day is a work day. Weekends don’t mean a thing when
you’re running a business. Hours are varied, but as I’ve brought on
more people, my hours and duties have slowly reduced and I’ve taken
on a role more of project direction, management and delegation. I’ll
be at work about 8am, have a break for dinner in the evening and then
usually get back into it. In my early days, I’d often work from 9am to
2am at least four nights a week.

Is it difficult for you to balance the differing demands of work


and the rest of your life?
It is damn hard! I’ve had to create some simple priorities to make
it easier to stick to – the company, my family and partner, then
everything else.
Oh, yeah, a piece of advice: If you can find a loving partner who
understands the crazy hours and commitment you have for your
dream, make sure you hang on to them because they’re pretty rare!

What are your top three business tools?


That’s easy – our computers, our software, and the Internet.

Do you have a business mentor?


Not presently, no – but in the second year of my business degree, one
of my university tutors took me under his wing and gave me some
good, sound marketing advice.
There are also a few other people, usually entrepreneurial clients of
mine, who relate to my experiences and help however way they can.

Are there any entrepreneurs you particularly admire?


Sir Richard Branson, for his rogue and grounded attitude towards
his competitors. Also, Rupert Murdoch, for his relentless efforts to
grow an empire that he can leave to his children.

40

BYOB_FINAL_16_12_06.indd Sec1:40 18/12/06 9:23:55 AM


Mak e an
im pre
press
s s io
ionn

Do you think Australia is a good place to start up your


own business?
Yes, we have an economically-focused government and, compared to
other places I’ve been, we are relatively free of prejudice and bigotry.
Achievers are recognised and acclaimed, until such time as they do
something wrong anyway.
Unfortunately, this is when the ‘tall poppy’ syndrome takes effect –
when the community decides that they want to cut ‘successful’ people
back down to size. In my opinion, it’s this mentality that is the primary
factor holding our country and its citizens back from greatness.

What are some of the new growth industries in Australia?


I’d like to think biotechnology is a growing industry and not just
academic research. Multimedia, including online services, is definitely
growing, and I know a few pioneering leaders in the technology sector
who are facing a very macro/microeconomic challenge to either sell
out to foreign companies or further develop the industry here.
in
What advice would you give to young Australians wanting to
start their own business?
brief
Adrian Bold, Bold Impressions
The key to any success is to enjoy what you’re doing. Enjoying your
age 24
work makes your passion and attention to detail evident to others, hrs/wk 90
including your clients – and consistent, quality work means repeat quals BBus (Intl Relations
business. Repeat business maps a path to success. & Marketing)
life–work unbalanced, but
So love your work, and have confidence that you will succeed. If you
getting better
don’t have the confidence, you won’t succeed.

41

BYOB_FINAL_16_12_06.indd Sec1:41 18/12/06 9:23:56 AM


BYOB_FINAL_16_12_06.indd Sec1:42 18/12/06 9:23:58 AM
Write it right
Text messaging grammar is fine if you need to drunkenly tell a crush
that you think they’re ‘2 hot n sxy 4 eva’, but it’s not going to sell life
insurance, or impress your nanna for that matter.

Sometimes, splitting an infinitive is simply unacceptable. Grammar


might be going out of style, but it still serves a pragmatic purpose
– it makes businesses look respectable. Press releases, news
articles, menus, catalogues – they all need to be skilfully written and
obsessively proofread.

See if you can spot the error in this sign for a Teppanyaki restaurant
in Japan – ‘Before your cooked right eyes’. A simple error of syntax
is one easily avoided by employing a professional copywriter and
proofreader.

Copywriters and proofreaders often work as freelancers. With a laptop


and broadband access, they can earn their crust from wherever they
happen to be. The flexibility of running a small business like this is
extremely attractive to many people, as it allows them to fit in all the
other things they like to do, while still being able to pay the rent or the
mortgage. Just ask Jill Farrar!

43

BYOB_FINAL_16_12_06.indd Sec1:43 18/12/06 9:23:59 AM


Be Your Own Boss

cv handbag sales
Jill Farrar – Muse Copywriting
assistant >> waitress After finishing a Social Inquiry degree
>> barista >> tutor >> at UTS, Jill wasn’t sure what she wanted
publishing product manager to do next, so she went travelling and
>> freelance writer >> then moved to Melbourne. There she
owner, Muse Copywriting found a job with a publishing company
producing audio books.

She was in charge of marketing their


range of audio books – producing
catalogues, flyers, the website, PR
material and sample CDs. Despite
her passion for audio books, she found she couldn’t work with the
management, so she quit.

A friend suggested that she start working as a freelance writer and


editor while she was looking for another job. She got some work
through another friend who ran a design company and found the
flexibility of working for herself very appealing.

find out Then she signed up for NEIS, a government initiative to get people
more who are unemployed into their own businesses. The support and
Interested in NEIS? education she got from the scheme made her realise that she could
www.workplace.gov.au/NEIS run a successful small business. She’s currently working on marketing
and expanding her client base.

q&a
What’s Muse and what do you do?
Muse is a copywriting and copyediting business. I do everything. I’m
the cleaner, the typist, the proofreader. Apart from the actual writing
and editing jobs, I also do the marketing, PR and admin, and I network
and deal with clients.

What do you like about owning your own business?


One of the best things is the flexibility. You choose your clients, you
choose where you work, when you work and when you don’t work. It
makes space for other things that are important in your life.
Also, there’s a really strong connection between how hard you work
and how much you get back in terms of financial and personal rewards.
Working for someone else, you might work really, really hard but still get
paid the same at the end of the day and feel ripped off, so maybe you
do less work the next day, and then you feel bad. But when you work for
yourself, you can see the direct link between how much you put in and
how much you take out. I really like that. It helps to motivate me.

44

BYOB_FINAL_16_12_06.indd Sec1:44 18/12/06 9:24:06 AM


Write it right

Why proofreading and copywriting?


I like doing it and I like that I’m good at it. I think that’s a really
legitimate thing to say – it’s good to do work that you find easy and
that you enjoy doing.
The things that I’m really passionate about are music and art. In
order to make a living while I’m pursuing those things, I need to do
something that is flexible and can provide the bread and butter money.
Music is a very important part of my life right now. I write songs and
I have plans to record them, get a band together and play gigs. I’m
also keen to do more acting. I recently acted in a short film, I did some
modelling for an artwear competition, and I’m putting together a
portfolio to get an agent. I would like to earn money from these things
one day, but at the moment I’m happy to enjoy them and concentrate
on earning money from Muse.

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How do you find your clients?


The main way I find clients is through people I already know. The way
you get jobs when you’re a small business is through trust. People
have to trust that you’ll do a good job. And that you’ll be good to deal
with, that’s really important as well, your attitude and your customer
service. The best way for them to ascertain whether you fulfil those
requirements is by having someone they trust recommend you.
Apart from that, it’s good to have a website. I’ve had some enquiries
from overseas that I never would have had otherwise. I’ve had an
enquiry from someone in Brunei asking for some copywriting.
The website is also really good for solidifying the client’s trust in you.
They can see you have a professional website, they can check out your
portfolio, and they can see that you’re bona fide.

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BYOB_FINAL_16_12_06.indd Sec1:45 18/12/06 9:24:08 AM


Be Your Own Boss

What are some of the important steps you took to becoming


your own boss?
I learned to ask for help, and to accept help, and to be okay with
depending on people, whether it was a loan, or advice, or passing on
contacts. There’s sometimes a preconception about working for yourself
that you’re on your own. But it’s not true, you’re embedded in a network,
and if you’re not, you won’t last. My network consists of my clients
and contacts, but also my friends and family and business mentors.
My parents were important because they believed in me – and
because they gave me a loan. A friend of mine suggested the idea in
the first place and lent me his business knowledge when I was getting
started, and he helped me with my website too.
I also have a mentor through NEIS, Tina Owens. She’s a writer and a
teacher. And from NEIS I also have a strong network of people who are
also starting their own businesses, and we rely on each other a lot for
support.

Can you tell us a bit more about NEIS?


At the start of this year I did a Certificate IV in Small Business
Management. That went for about eight weeks. Then I had to go
through a review process. I submitted a business plan, it was
approved, then the government support started. I’m now halfway
through my 12 months of government funding.
In my business plan I had to predict how much I’d earn in each quarter,
and every quarter I have to submit an income statement to make sure
I’m keeping up with my goals. If you drop behind, you can lose your
support payments.
I also meet my mentor quarterly. She comes here and we talk about
my business and how I’m going – clients, workload, marketing,
income, if I need to learn anything more, opportunities for the
business. It’s good to have someone to go to for technical business
help, but it’s mainly good for keeping positive, keeping faith in what
I’m doing. She tells me how well I’m doing, how much hard work I’m
doing, and that it’s going to pay off.

What’s been the best part about starting your own business?
I love that what I’m doing is going towards something that I really
believe in. Not working for someone else, not having to answer to
anyone – except your clients – is great.
Also, when you work for yourself, you’re in control of the means of
production, which is mainly you, and that’s really empowering. If I ever
need to regularly employ someone, I’d rather that they were either a
part owner of the business or a freelancer. I want others to enjoy that
freedom too.
And I like being able to start work whenever I want to. That’s really
good.

46

BYOB_FINAL_16_12_06.indd Sec1:46 18/12/06 9:24:10 AM


Write it right

What’s the most difficult part?


Having patience for getting work and patience for myself, and
acknowledging that all the failures along the way happen for good
reasons. They’re there to teach you. You have to accept that, and
remember that what you’re doing is the right thing. It’s hard in the
beginning because there aren’t many tangible financial rewards. It’s
stressful, but I think it helped that I was young. I figured, even if it
failed, I’d learn a lot, and I’d still be young enough to start over.

What about life–work balance?


It’s better than it was at the start. At the start I had my office in my
bedroom, but I have a proper office now. Having a separate office
means I can go in there, do a day’s work, leave, shut the door, and I’m
finished. When it was in my bedroom, I couldn’t do that.

What are some things you need to do this job?


The ability to connect with people and earn their trust. Really solid
technical skills – being able to deliver the goods. Patience.
And a fourth would be a broadband connection.

What are your goals for the future?


I have financial goals, how much I’d like to be making each week. I
also have goals in terms of what kind of clients I’d like to have, and the
kind of relationships I have with those clients. I’d like to have clients
who are growing businesses that create a positive atmosphere in their
work. Design agencies and publishing companies are my targets. in
I have no plans to work for someone else full time. I’m not too strongly brief
attached to money so I’m willing to give up well-paid jobs if I don’t Jill Farrar, Muse Copywriting
believe it’s the right thing for me. age 24
hrs/wk 40–50
What advice would you give to any young entrepreneurs? quals BA Comm, Cert
Trust your intuition. If you feel it’s the right thing to do, do it. When IV Small Business
Management
you do it, there are a lot of sacrifices you have to make and you have
life–work getting better
to be prepared to make them or you’ll get really depressed. The
rewards are well worth the sacrifices.

Re ad a
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nd send
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at u re a
r tic le s

47

BYOB_FINAL_16_12_06.indd Sec1:47 18/12/06 9:24:12 AM


BYOB_FINAL_16_12_06.indd Sec1:48 18/12/06 9:24:16 AM
Taking off
For strangers to our shores, the thought of ‘Australia’ brings to mind a
range of images – Foster’s, Crocodile Dundee and shrimps … but also
sunburnt desert plains, beautiful beaches and unique and interesting
wildlife. Companies offering travel and tourism services have half their
work done for them!

There’s a lot of Australia to see, and what better way to see it than
from the air? There’s more to aviation than just international travel
– flying is an efficient and picturesque way to arrive at secluded
destinations Australia-wide.

Tourists are becoming more picky, demanding more flexibility and


better service. Plenty of people will happily pay for a personalised
expedition rather than be stuck with sixty camera-flashers on a jump-
on-jump-off tour bus that visits the same tired old attractions.

If you consider a place to be beautiful, chances are others will


consider it beautiful too. We spoke to Paul Pingiaro who saw an
opportunity to show tourists the places he loves most. Now he gets to
travel there as part of his everyday work.

49

BYOB_FINAL_16_12_06.indd Sec1:49 18/12/06 9:24:16 AM


Be Your Own Boss

cv retail assistant >>


Paul Pingiaro – TrackAir Adventures
freelance writer >> builder’s Paul is passionate about all things
labourer >> freight pilot >> aviation-related, and it was while
skydiving pilot >> owner, working as a skydiving pilot that he
TrackAir Adventures noticed the growing number of people
interested in adventure sports. He
began to formulate the business plan
for TrackAir Adventures, a business
that would merge two of his greatest
passions – fishing and flying.

q&a
When did you first come up with the concept of
TrackAir Adventures?
When I was learning to fly, my father and I would go on these amazing
fishing trips – flying up to the Kimberleys or Arnhem Land, Kakadu,
Cape York, even down to Tasmania. I made some fantastic business
associates on these trips and I really started to believe that there was
a market for this kind of tourism.

So, what exactly is TrackAir Adventures?


We are an adventure travel company; basically, we offer clients the
opportunity to plan their own itinerary for adventure air tours around
Australia. It could be a fishing trip or outback safari – each tour is
uniquely tailored to what that client wants.
detour Lately, we’ve started doing ‘outdoor learning experiences’ for school
groups that focus on giving kids the ability to understand life in
Interested in working as a
remote communities and exploring the industries that support that
skydiving instructor? Check
out Career FAQs Extreme community like aquaculture, farming, land management, tourism and
and Weird & Wonderful environmental management.
www.careerfaqs.com.au What stages did you go through before TrackAir
started operating?
I checked out the charter offerings in a number of travel agencies and
noticed that a lot of the itineraries were pre-planned and that there was
not much room to manoeuvre if the client wanted something different.
So, I made sure that TrackAir would be the exact opposite – I offer
clients a few sample tours so that they can get some inspiration, and
then I plan the itinerary around their ideal vacation, rather than mine
or anyone else’s!

50

BYOB_FINAL_16_12_06.indd Sec1:50 18/12/06 9:24:24 AM


Tak in g of f

As always, one of the hardest parts of starting a business is coming


up with the concepts and testing them before you really put them out
there. It took about two months of writing and refining to create a
business plan that I believed would work.
I was also very aware that TrackAir had to be associated with a
reputable aircraft company whose existing operations could support
my plans for the business otherwise all the work would be in vain. It’s
true for most industries, but particularly in aviation, that there are the
‘right’ and ‘wrong’ people to deal with.
After all that, the next thing to do was to work out anything and
everything I could do to get the cash flow up.

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Are there any aspects of the startup process that were


particularly valuable to you?
The most important thing for me in the startup process was making
sure that I got the correct flight training and that I was associated with
the right people.
Other than that, I tried to make sure that I got my marketing and
business development strategies right, so that the business caught
the attention of the right people and the right companies.

Did you supply the initial business capital?


Yeah, I was lucky. I was pretty sure that I had next to zero chance of
being eligible for a bank loan because I didn’t have an established
credit history, so I worked really hard for years (in other businesses)
and put everything that I could anyway in preparation for owning my
own business.

51

BYOB_FINAL_16_12_06.indd Sec1:51 18/12/06 9:24:25 AM


Be Your Own Boss

Then I entered the Nescafé Big Break competition in 2004 and was
one of five national winners to receive $25 000, which was brilliant!
Winning that competition probably put me ahead about two years
financially, because for any business you need to think about
insurance, marketing, stationery, travel expenses, all those little
things that eat up your cash.

ak
is Big Bre
Paul gets h
I was also part of the NEIS program, which is a very well-run scheme. It
was enormously beneficial for me, though I need to say that the money
itself (for NEIS participants) really only supports you when you’re
writing your business plan and getting established in your first year.

Why was NEIS so beneficial?


Well, even though my business plan itself was pretty good, being
involved in NEIS helped me see things in different lights. I was able
to pick up on potential problems and so was able to fix them before
we even started operating. I benefited a lot from that – I suppose it all
comes back to the importance of the planning stage and making sure
that your plan is as comprehensive as it can be.

Do you think you have made any mistakes?


We’ve made heaps of mistakes along the way but we’ve learnt
find out something every time, so mistakes are almost always turned into
more positive things that strengthen the business in different ways.
www.nescafebigbreak.com.au I think it would be nearly impossible to start up a business without
www.workplace.gov.au/NEIS making mistakes. I figure that if you haven’t made one yet, there’s
probably one waiting for you around the corner!

52

BYOB_FINAL_16_12_06.indd Sec1:52 18/12/06 9:24:29 AM


Tak in g of f

What is the hardest aspect of owning your own business?


Being on call for your business 24/7 can really wear you down. There
are a lot of people around who think that if you have a mobile phone,
you’re available any time day or night and that can be pretty disruptive
to your personal life.

Is there an upside?
Definitely. The only people you take orders from are yourself, and
you’ve got total independence to run the business as you see fit. So
when something goes really right and the result is total customer
satisfaction, it’s gives you a fantastic feeling of self-worth and
achievement, because that happiness is basically there because of
you and your actions.

Are there any characteristics that you think are shared by


successful entrepreneurs?
You have to be an independent person who is confident in yourself
and your own abilities. You need to be passionate about what you do,
ambitious in what you want, and then you need to have the absolute
and utter sheer determination to actually go out and get it.
In my mind, there’s absolutely no use in setting up a business if you’re
not determined to make that business the best that it can be; and to
make it the best you need to set goals and be passionate about what
you’re doing.

What skills do you think are necessary for young


entrepreneurs?
I think anyone who is looking at becoming an entrepreneur, or running
his or her own business, needs to know how finance works. You don’t
have to do a whole business degree – even studying a certificate
in business finance helps you understand more about money and
figures, cash flow, business reports, where your money’s going and
why it’s going there.
Really, even if you’re not planning to start your own business, money
management and knowing how finances and budgets work is useful
for anyone in their everyday life.

How important is marketing for you?


Even if you have the best idea in the world, it won’t do you any
good if the right people are not seeing it. For us, marketing is an
ever-changing challenge; we’re always refining and redefining our
marketing strategies as the business grows.
In our first year, we put an ad in the Yellow Pages which was quite
expensive and wasn’t reaching our target audience. Since then, we’ve
optimised the website for Internet searches, which works quite well,
particularly with overseas tourists. I also do a lot of trade shows, like
the Melbourne Fishing Show and similar stuff, and from there I do a
number of mail outs.

53

BYOB_FINAL_16_12_06.indd Sec1:53 18/12/06 9:24:33 AM


Be Your Own Boss

We also have a high percentage of customer satisfaction, which leads


to positive referrals and customer return – around 85 per cent of our
clients book another trip with us. That’s fairly unusual in this industry
– trips like this are usually seen as a once in a lifetime adventure – but
it does make marketing the business quite a bit easier.

Is it hard to strike a balance between the demands of work


versus the rest of your life?
Yeah, it can be tough; you need to be able to make the most out of
every day, so having really good time management skills and knowing
how to use a diary properly is essential. But you also need to make
sure that when you’re at home, you make the most out of that too
– that you do spend quality time with your loved ones.
You need to prioritise too. If your business is going to demand that you
be away from home six months at a time and your family life doesn’t
really suit that, you have to decide which one you’re going to sacrifice.
The idea of owning your own business is that it’s setting yourself up
so that in the future you can take the jobs you want and delegate the
rest to other people. It’s a lifestyle choice really, so if you’re always
going to be slaving away at your business, then you’d be just as well
off working for somebody else.

54

BYOB_FINAL_16_12_06.indd Sec1:54 18/12/06 9:24:35 AM


Tak in g of f

Do you have a business mentor?


I had a mentor with the NEIS program, though his background was a
bit different from mine. His advice wasn’t necessarily groundbreaking
or revolutionary but I did find that it was good to be able to go in and
talk to someone regularly about the various trials and tribulations
involved in running my own business. I think that was the most
valuable part of having a mentor for me.

What are your top three business tools?


Computers – because they are such an infinite source of glossary
communication, and can hold everything!
CDMA means:
CDMA mobile – the advances in CDMA technology now mean that I can
– A digital moble phone,
be in some of Australia’s remotest locations and take a booking for a
GPS and satellite system.
trip, which is invaluable! The letters stand for ‘code
The Internet – for business development, product research, division multiple access’. .
meteorology, and every other subject under the sun.

What are your business goals for the future?


At the moment I’m like everyone else starting a business – the
business sort of runs me more than I run it! So I need to put in an
immense number of hours to make sure that the business succeeds.
But I’m hoping that within the next couple of years things will settle
into more of a regular pattern, and I’ll have the opportunity to choose
the trips I want to take and delegate the rest to other people.

Is Australia a good place to start up your own business?


Yeah, I think that business owners get a lot of support and that
Australians are, generally speaking, really patriotic when it comes to
supporting a new business.
For me, that’s what being Australian is all about. Having a go at
something, making the most of an opportunity, and supporting other
Aussies who want to achieve their dreams as well.
On the flip side, I think that the vastness of the country and the
extreme demographics could hinder a business’s success, but I’m
lucky there, because it’s the long distances that help build
my business!

In your opinion, what are some of the new growth industries


in Australia?
There are always new opportunities in almost every field. If you can
come up with a great idea and create your own niche, then there are
opportunities everywhere you look.
Also, I think industries like ecotourism and environmental practices
are going to grow rapidly because these days there is a huge focus on
the negative impacts of modern living on our environment.

55

BYOB_FINAL_16_12_06.indd Sec1:55 18/12/06 9:24:37 AM


Be Your Own Boss

What advice would you give to those young Australians


in wanting to start their own business?
brief Don’t do something if you’re not passionate about it and determined
Paul Pingiaro, 25, to make it work. Don’t wear rose-coloured glasses but do see
TrackAir Adventures everything as an opportunity.
age 25 Go and do a business course, write your business plan and do your
hrs/wk varies a lot market research. Enter competitions and be ready to blow your own
quals Dip Applied trumpet because if you can’t talk yourself up, no one else will.
Science (Aviation);
Dip Business And just go for it!
Management; plus
loads of industry What are some of your interests outside of work?
certification
When I’m not working, some of my hobbies and interests are fishing,
life–work excellent
flying, writing, scuba diving, being outdoors and being with my family.

56

BYOB_FINAL_16_12_06.indd Sec1:56 18/12/06 9:24:39 AM


Look hear!
You don’t need to be a movie-buff to notice how big sound and vision
is these days. I mean, literally big. I’m talking multi-channel surround
sound home theatre systems and high-resolution widescreen LCD
large venue video projectors. Movie screens the size of small African
nations and headphones that block out the sound of your own internal
monologue.

It seems that, as technology develops, so too does our appetite for it:
we want it bigger, brighter, brassier. But the audio-visual reality is not
restricted to the domain of entertainment. Think video-conferencing,
interactive museum exhibits, lecture theatres – all these and more
harness the power of audio-visual technologies.

If this all sounds a bit like a march to a brave new world, there are
more sentimental ways we can take advantage of this trend, on a
personal level. That fuzzy old home video from when you were in
nappies? Well, now it can be transferred to DVD and preserved for a
long future of embarrassment thanks to the guys who started 2-Sense
Productions.

57

BYOB_FINAL_16_12_06.indd Sec1:57 18/12/06 9:24:40 AM


Be Your Own Boss

cv kitchen hand >>


Michael Straight – 2-Sense Productions
lawn mower/grounds Michael started taking his career path
worker >> Australian into his own hands at the ripe old age
Geographic sales assistant of 13. Ten years and an unfinished
>> film & TV technician law degree later, he was working in
>> co-managing director, retail – but it wasn’t long before he
2-Sense Productions got the urge to go out on his own
again. Building on a keen interest
in filmmaking, Mike started a video-
editing and media-authoring business,
2-Sense Productions.

q&a
What is 2-Sense?
Well, 2-Sense is an audio-visual production business. We tried to
encapsulate this in the name itself – the ‘two senses’ of sound and
sight. In essence, 2-Sense provides dynamic audio-visual solutions to
a range of professional and domestic clients.
From converting old home movies to DVD to comprehensive video
production, editing and media authoring services.

What’s your background?


I was born and raised in Brisbane. While I was growing up, I spent a lot
of time wandering the dark rooms of my Dad’s photographic studio.
I was always intrigued by film, but after finishing high school I decided
to study law. After a year, I decided I was hungry for more creative
expression in my work (not that lawyers aren’t creative) and made a
rather pronounced U-turn by starting a film and TV degree, with the
intention of perhaps becoming a screenwriter. Over the course of the
degree, however, I found myself drawn to numerous other aspects
of filmmaking and, shortly after graduating, started up 2-Sense
Productions in partnership.

So your business idea came out of your personal interests?


There was certainly a strong link – though the process was less than
direct! Actually, 2-Sense was started for this very reason. My friend
Andrew Gibbs and I shared similar interests and had both been
working together in retail for a few years. We first began discussing
the idea during one Christmas season – naturally a busy period for
retail. Even though we had been blessed with a fantastic working
environment, we recognised just how much of their lives people spend
working and agreed that surely this time would be best spent doing
something you’re passionate about. So we went for it.

58

BYOB_FINAL_16_12_06.indd Sec1:58 18/12/06 9:24:46 AM


Lo ok h
Look hee ar!
a r!

Is running your own business something you always wanted


to do?
When I think back, I’d have to say yes, even if I didn’t know it then.
I actually started my own business when I was 13, doing web design.
This was a period when the Internet was still very young in terms of
public usage and awareness.

0K
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Annua contra
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No. of s
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To brin y to the
ne rs : B iz vision: r m on
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t a u d io v is
s o f t he univ
Michael Stra igh eac h e
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and Andrew Gibbs eir
e in th
a m o u nt of tim n d that
a large t to sp e
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‘… peop t h a t it’s rea y love …

work at the
line of meth in g t h
oing so
time d
v
sense.t
www.2

And you were very young too – 13?


That’s true – it was 1993. I customised html templates I’d designed
to create personal web pages for people (before the simplicity
of MySpace!) for the flat rate of $30. The business was called
MichaelSoft, and it was started with absolutely no concept of
business practice – it wasn’t even registered. I doubt the taxation
office would applaud such initiative. It certainly wasn’t a lucrative
venture, but the idea wasn’t so much to make money than to do
something exciting. Exciting, that is, until we got a bill for excess
Internet usage that outweighed my profits.

So there was a bit more work involved in setting up 2-Sense?


I suppose MichaelSoft was only ever a hobby. We gave the
establishment of 2-Sense a lot of thought and consideration. There
was a fair amount of work involved. At the outset I was quite naive
about just how much, but perhaps that worked to my advantage.
If some people knew what it actually takes to start a business they
might be a little bit more apprehensive. Fortunately I had enough
enthusiasm to tackle the workload.

59

BYOB_FINAL_16_12_06.indd Sec1:59 18/12/06 11:03:41 AM


Be Your Own Boss

What stages did you go through in the startup process?


Well, our initial discussions had been inspired by what we’d heard
about the New Enterprise Incentive Scheme (NEIS). It’s a government-
funded program that provides business management training,
mentorship and financial support during the crucial establishment
stage. In the process of putting together an application, we immersed
ourselves in the business concept. We conducted test-marketing
surveys to better understand our potential clients and questionnaires
to better understand our competitors – and how we planned to
differentiate ourselves from them. By the time our NEIS application
was accepted – we had come a long way in developing the personality
of the business.

How old were you at the time?


I was 23 and Andrew was 22. We were quite young and relatively
inexperienced, but that’s probably still how I’ll describe myself now
in 10 years’ time. We thought, let’s just get out there and see what
happens.

How valuable was the assistance you received?


The NEIS course was very valuable. The training component of
the course helped provide the fundamentals of small business
management, whilst surrounding us with other like-minded people
that we could also learn from and share ideas with. We also received
immense support from our NEIS mentor, Michael Rodgers-Bell.

Did you make any mistakes?


Certainly. One of the more difficult things to manage along the way
is time. You can fall into what I call the Technician’s Trap – where you
find yourself bogged down in the day-to-day tasks of providing your
business’s service, without taking the time to adequately service your
business. Typically, when you’re establishing small enterprise, you’re
really not just a technician in your given area of expertise. To some
extent, you’re also required to be an accountant, a marketer and a
lawyer. Most importantly, though, you’re a business manager. There’ve
definitely been periods when I’ve been too caught up in immediate
work to see the bigger picture. But the mistakes you make can be very
valuable, if you’re willing to learn from them.

Are there any other business networks or support


organisations that have been helpful?
Yes. Everyone involved in running the Visible Ink space in Brisbane’s
Fortitude Valley. Visible Ink is a council-funded, youth-oriented
initiative that helps support artistic and cultural development, as well
as independent enterprise. After operating from home for about two
years, we were keen to separate our office from our living space. We
snapped up the opportunity to relocate to one of their offices, and
instantly benefited from the facilities available onsite, the friendliness
of the staff and the positive atmosphere they help create.

60

BYOB_FINAL_16_12_06.indd Sec1:60 18/12/06 9:24:50 AM


Lo ok he
Look heaar!
r!

What’s the best part about starting your own business?


In the early days, when we were still operating out of the basement
of our sharehouse, I would have said being able to wake up, wander
down into our charmingly low-fi studio and get paid to edit interesting
video projects in my pyjamas. Hehe – for all that it represents. I
made sure not to abuse my pyjama privileges, but I did relish the
sense of independence that comes with actively creating your own
opportunities. Also, by proving that it can be done, it opens your eyes
and mind to what else might be possible.

in pyjamas!
e offfi fiice - not
M ichael in th
What are your business goals for the future?
Well, I’ll keep striving to achieve the ambitious 2-Sense mission
statement, ‘to bring audio-visual harmony to the outer reaches of the
universe’.
Having said that, I do have a few other goals in the meantime.
Ultimately, I’d like to become more entrepreneurial in my work,
carefully acquiring and developing investments that are self-sufficient
and profitable, but just as importantly – that are ethical. I want
to manage an investment portfolio with a healthy cash flow and
conscience.
On a more personal level, I’m attracted to the idea of creating passive
streams of income so that I can travel without exhausting my savings
– and reinvest into other projects, including some concepts for TV
shows I’ve been toying with for a while.

61

BYOB_FINAL_16_12_06.indd Sec1:61 18/12/06 11:03:45 AM


Be Your Own Boss

So is your computer your most important business tool?


Yes, in terms of actual equipment – number one, certainly. Computers
carry the emails that initiate many of our projects. They store the
contact details of our network. They handle the massive amounts of
data involved in whichever complicated post-production tasks may be
required for any given job. Then, once the job is done, they’re used to
produce the invoice and send it to its destination.

What personal attributes are important in starting your own


business?
I’d have to say communication skills are vital. I think it’s really
important, once you’ve developed your business concept and your
infrastructure, to be able to consistently articulate this to your clients
and contacts.

tor.
r. Boooo om ... opera
He”s a boom operato

But almost more important is the ability to listen, in order to clearly


understand the needs of your client, to provide the most effective and
thoughtful solution.
And lastly, flexibility. Particularly in my industry, where technology
is undergoing such constant change, as well as markets and trends,
you need to make sure your business is flexible enough to endure
this change while not compromising the quality of service you provide
your clients.

62

BYOB_FINAL_16_12_06.indd Sec1:62 18/12/06 9:24:53 AM


Lo ok h
Look hee ar!
a r!

How do clients actually find you? Through your website, or


some other way?
The website does attract some clients, by way of searching and cross-
linking, as do advertisements posted on several other sites – but the
majority of our business comes from return clients, referrals and our
existing network. It’s quite gratifying getting this business, knowing
that it suggests client satisfaction.
We did have several marketing expeditions in the first two years of
operating the business, visiting non-competitive businesses who
came into contact with our potential clientele but who previously had
no-one to refer them to. So, with a few quick introductions, and by
circulating flyers, pricing lists and perspex signage, we were able to
establish our format conversions stream. Advertising on the whole,
however, has been minimal.

Of the jobs you’ve done, are there any that stand out as
particularly interesting?
For sure. We’ve had some fantastic jobs in our time, and recorded a
few milestones along the way. Back in 2003, we produced, shot and
edited a video for jazz trio ‘Misinterprotato’. It was included on their
release ‘Now for the Free’ – and became the first jazz CD to come out
of Australia featuring a video element.
We shot a music video amongst a sea of entirely nude bike riders,
protesting against tunnels proposed for construction. In the spirit of
the event, we filmed from a tandem bicycle, but only stripped down to
our boxers. The video culminated in the inner-city arrest and removal
of the protestors’ mysterious, wiry and naked leader.

63

BYOB_FINAL_16_12_06.indd Sec1:63 18/12/06 11:03:48 AM


Be Your Own Boss

Personally, I’ve been Gretel Killeen’s autocue operator on Big Brother


’06, floated downstream with Andrew Ettinghausen recording
sound for ET’s Fishing Adventures, respectfully transferred footage
of several births – and worked for a swag of reputable companies,
including Microsoft (but I kept the story of MichaelSoft to myself ).
It’s also an interesting fact that our very first ever invoice is still yet
to be paid. It involved some basic editing for a company producing
a compilation of semi-erotic cartoons. Who’d have ever suspected
they’d be an unreliable client?

So how many staff do you have working for you?


In terms of fixed staff, it has always been just Andrew and myself.
Though, given the collaborative nature of filmmaking, we do regularly
sub-contract people to fill the various roles required on shoots
(sound/camera/assist) and for assistance with post-production
services. Such arrangements are made on a project-by-project basis
for typically up to a week or so, and we try to use people that we’ve
already developed a good working relationship with.
How hard is to strike a balance between life and work?
It can be very challenging, particularly in the early stages, because
there really is so much time and work involved in developing the
infrastructure. However, it should be a symbiotic relationship. As
time goes on I’ve learned the importance of investing time in friends
and family to get the best out of my business performance. If ever
I do find myself feeling stressed, skateboarding is my saviour! The
exercise lets me blow off steam and the focus clears my mind.

Do you have any business mentors?


I’ve been fortunate enough to have several mentors along the way.
I’m very grateful to my Dad for giving me insight into the film and
TV industry, and opening doors for me along the way. Also worthy
of mention is a well-respected industry veteran by the name of
Sam Simpson. Many of my most notable job opportunities have
been provided by Sam. Not to mention the countless hours he’s
spent teaching me about specific equipment, technical matters
and business management issues specific to the industry. I can’t
overemphasise the benefits of drawing from the knowledge and
experience of those who’ve paved the way before you.

Do you have any other sources of advice?


I’m always interested to get the perspective of my friends when
considering an idea for a business or project, but it’s typically my
mentors I’ll consult when facing an important business decision. The
Internet also contains copious amounts of useful information, but
should always be taken in context.
On occasion, I also like to read about topics such as business
management, investing and finances. I recently finished Robert
Kiyosaki’s Rich Dad Poor Dad.

64

BYOB_FINAL_16_12_06.indd Sec1:64 18/12/06 9:25:00 AM


Lo ok h
Look hee ar!
a r!

While I didn’t agree with everything that was said, I felt he


successfully challenged certain fundamental beliefs about money
– and I do feel inspired to do further reading, to develop my ‘financial
intelligence’ as he would put it.

What are the new growth industries in Australia?


I’m tempted to say Viagra. Seriously, though, I do believe we will
continue to see wealth being generated by new information sharing
communities spawned by the Internet, such as YouTube, which was
recently bought by Google for $1.65 billion.

Is Australia a good place to start up a business?


I have very little to compare it to, but I’d have to say it is. The fact that
so many people, including Andrew and myself, have succeeded in
turning a fanciful idea into reality truly suggests that the opportunities
and support necessary to establish small business do exist in
Australia – as well as the markets to sustain it.

Where to from here?


Well, despite feeling that the business has been highly successful,
we’ve actually decided to call it a day for 2-Sense Productions. We’ll
most likely see the business dissolved before the end of the year, to
make way for our next great adventures. We both plan to launch our
own businesses early in the new year, drawing from this invaluable
experience and specialising in our respective areas of interest.
Personally, I also plan to continue developing my interest in
presenting for television. Recently, out of sheer curiosity to experience
life on the either side of the lens, I secured a role presenting for a
weekly arts and culture show called Tattu, broadcast by local Brisbane
station Briz31. So far I’m loving it and am fascinated to see how this
might influence the course of my future plans.
Basically though, in keeping with my earlier statement, I’m in
the process of identifying and developing those potential areas
of opportunity I’m most passionate about, so that I can continue
spending my professional life doing what I love.

Was there a natural evolution into your new enterprise?


By staying true to the approach I just described, I can ensure that the
evolution is a natural one. I do believe that specialisation will be a key
factor in the success of this next project. It is one thing for a business
to boast an impressive range of products and services, but entirely
another to know that every product or service your business offers has
been thoughtfully considered and tailored for optimum quality.
While I won’t reveal my specific intentions just yet, I do believe
a more specialised scope will simplify the shift towards greater
entrepreneurialism.

65

BYOB_FINAL_16_12_06.indd Sec1:65 18/12/06 11:03:50 AM


Be Your Own Boss

Do you have any advice for anyone wanting to start their own
business?
Firstly, ensure that you’ve chosen a field that stimulates your interest
and that you’re excited about committing to.
Make sure you give yourself credit where its due by celebrating all of
the minor victories and achievements you have along the way, and
recognising how these steps, however minor, fit into your overall plan.
Lastly, try to avoid becoming complacent and simply accepting the
jobs that fall into your lap. The whole idea behind starting your own
in business is a state of mind, really – you’re taking control. So, why not
brief take greater control over the jobs you do and the clients you work for?
Michael Straight,
Most of all – enjoy the journey and take pride in the sense of
2-Sense Productions
achievement that comes from forging your own path.
age 26
hrs/wk Pick a number! Do you have a life motto?
quals Bachelor of Fine Arts It’s not as punchy as I’d like, but basically it’s this: I’m not so vain as to
(Film and Television),
QUT; Certificate
think that one day there’ll be a book written about me – but I try to live
IV in Business my life as though one day there will be. I’d like to make it a good read.
Management
life–work a challenge! And you’re never too young? Even if you’re 13 years old?
Exactly. Or too old. Just make sure you register the business!

Mo n
–Fr i
• Ch
e ck e
mail ,
• Wo re v ie
r k ! (w w s ch
e di t i or k in e du le
ng g
o r ad , c o nc e p o n a sh o o
min d t de v t
• Lu u t ie s e lo pm ,
n ch, ) ent
f o l lo
• Pla we d
n s ch by m
e du le o re w
fin a l f or n or k
emai e xt d
• TV l c h e ck a ay,
p re s e n d le
n t i ng ave w
wo r k or k
S at–
Sun
• Mo
re wo
• Go s r k ! (m
k a te os t w
boar eeks
di ng )
with
f r ie n
ds

66

BYOB_FINAL_16_12_06.indd Sec1:66 18/12/06 10:26:26 AM


On your marks
It seems we are no longer happy just chatting around the barbeque
at a party. These days, kids’ parties frequently boast zoos, jumping
castles, arcade games, sumo wrestler outfits, your favourite
superhero or just about any character you’d like.

For adults parties you could hire a band, DJ, comedian, performance
artist or an Elvis impersonator.

People also want someone to organise the whole event. Event


organisers and party planners make a good living from people who
don’t have the time or energy to plan their own events.

As a new twist on this, we spoke to Leonie Nichols, an events


organiser who arranges elite athletes to appear at parties.

It works for the athletes too – the life of an athlete is about more than
just competing. They need to work on their image and reputation to
establish their own persona if they want to land certain sponsorship
or advertising jobs.

So on your marks, get set and go for it!

Want more quality career resources


from Career FAQs for FREE? Click here 67

BYOB_FINAL_16_12_06.indd Sec1:67 18/12/06 9:25:04 AM


Be Your Own Boss

cv sales assistant >>


Leonie Nichols – Athlete For Your Event
marketing assistant >> With a degree in sports management
marketing manager >> majoring in marketing as well as
brand manager >> owner, considerable experience as an
Athlete For Your Event elite athlete (she competed in the
2004 Athens Olympic Games as a
synchronised swimmer), you could
say that Leonie is well equipped to
deal with the demands of the sports
marketing industry.

After her stint at the Olympics, Leonie


returned to work and ‘normal’ life. But in August 2005, she started
developing the business plan for a unique events management
concept that would combine her two passions and talents – sports
and marketing.

q&a
What is your professional background?
I have worked quite extensively in marketing, PR and events
management. In the lead-up to the Olympics in Athens 2004, I was
working full-time as a brand manager for Nu Skin (a cosmetics and skin
care company) and training four to six hours per day in the water as well,
which has proven to be good training for running my own business!

So how did Athlete For Your Event come into being?


I had been receiving calls from people wanting to use synchronised
swimmers at their events for quite a while, and I realised that clients
found it very difficult to find the talent they needed for their events.
I came up with the initial business concept in August 2005 and started
the company the very next month. For the first three months, I was
working part-time on AFYE and full-time at Nu Skin, but in January
2006, I decided to go out on my own.

What exactly is Athlete For Your Event?


As the name suggests, we supply elite athletes for sporting displays
or performances, guest speaking and corporate activities. We also
offer a complete event management service (organising and managing
the event from start to finish) as well as a consultancy service. It all
depends on the client and how much involvement they require.
AFYE caters to those clients who are looking for something a little bit
different that will make a lasting impact on their guests. Whether it be
a product launch, a party, a function, corporate training or whatever

68

BYOB_FINAL_16_12_06.indd Sec1:68 18/12/06 9:25:11 AM


On your
yo ur m arks
ar ks

else you can think of, we make the event unique and provide the ‘wow’
factor, if you like.
Basically, my hopes for the business are that it will help raise the
profile of athletes and their sports in Australia while also providing
unique and memorable occasions for event organisers.

know
l t/ o: Don’t
Annua yet!
Athlete For
st me
Your Event No. of s
taff: Ju
uests
azzle g
Owner: v is io n: To d profile of
Biz the
aising
Leonie chols
Ni while r lia
Au a
s t r
sport in
g
workin
l y o ur own
cont r o lon rge
h e b oss you u p w orking
‘… as t n en d
] I ofte
... [but
hours ver!’
than e
hours t.c om
oryo ureven
thletef
www.a

How hard was it to move from having an idea to starting your


own business?
As with any new business, transforming idea into reality did take a lot
of hard work, planning and motivation, but once I had decided that
this was what I wanted to do, I plunged into it 110 per cent.

What did you have to do prior to starting your business?


I conducted comprehensive market research which I am continually
working on and updating.
I also completed an initial business and marketing plan which is a
main reference point for me – even though I am constantly modifying
it as new challenges and opportunities come up.
On top of that, I started spreading the word about AFYE by telling my
friends and family and their networks about my business and asking
people for referrals.

Were there any aspects of the startup process that were


important for your business?
There were several. Conducting market research – because I needed
to know what else existed in the marketplace and if there was a
sustainable demand for my own business.
Getting good advice on every aspect of the business – legal,
financial, creative.

69

BYOB_FINAL_16_12_06.indd Sec1:69 18/12/06 11:34:28 AM


Be Your Own Boss

Creating sound business and marketing plans.


Setting and constantly reassessing my business budgets.
Establishing a business website and making the time to constantly
update it with fresh material.
Having loads of support from my friends and family.

Did you supply the initial business capital for AFYE?


Yes, it was all me!

Do you think it is more difficult for young entrepreneurs to


get business finance?
I think if you are able to develop and confidently present a well
thought-out business plan, then it shouldn’t matter what age you are
– most banks nowadays are forward-thinking enough to base their
decision of the strength of your idea and your commitment to the
business rather than your age.

Sync or swim

Do you think you made any mistakes along the way?


I have only been in operation for four months and as yet – touch
wood – I haven’t really made any devastating mistakes. In my mind
though, making mistakes in business is inevitable and a great skill-
development tool.

70

BYOB_FINAL_16_12_06.indd Sec1:70 18/12/06 9:25:15 AM


On your
yo ur m arks
ar ks

I have to admit that I knew it would be difficult to start up AFYE, but I


didn’t realise just how difficult it could be to get your business known,
especially in this industry where word-of-mouth marketing is relied
upon so heavily.

What is the hardest aspect of owning your own business?


Staying motivated – mostly because I work on my own, so I need to
stay really focused and positive and that can be difficult sometimes,
especially when I get knock-backs from clients for whatever reason.
Securing a continual cash flow is also difficult, particularly in the
beginning when you’re not so well known. It’s hard to swallow the fact
that it’s your money you’re spending, not someone else’s.

And the best part?


This business is your baby and to watch an idea turn into a (hopefully
very successful) business is really satisfying. Particularly so in my
case because I am working with these amazing athletes and in many
ways, I’m the person responsible for getting them together with these
great clients, so yeah, that part of it is very rewarding.
Also, as a business owner you face the never-ending challenge of
developing new ways to improve and grow your business, work with
clients, and generally be successful, all of which I – usually – find very
exciting and motivating.
There is also the fact that as the boss you control your own working
hours, though I have to say that this is both a positive and negative
thing – because I often end up working longer hours than ever!

What personal characteristics do you think young


entrepreneurs need to succeed?
You need to be highly motivated, ambitious and self-disciplined,
because as a business owner things rarely just fall into your lap –
you have to work at being successful.
Being a goal-setter is a handy trait to have as well because you’re
more likely to break things down into bite-size pieces and therefore
achieve more of your ambitions. I’ve found that it’s best to work on
your dreams little by little!
Having good time management skills is crucial as you are frequently
being pulled in multiple directions at once. It also helps to have a sound
knowledge of business, marketing and finance – and if not you need to
be able to look at ways to seek good advice from those who do.

How important is marketing to the success of your business?


Marketing is incredibly important to any business. I am currently
using a marketing mix that is based mainly on being cost effective,
though I am hoping that I will be able to increase my marketing
budget in the future.
At the moment, the marketing channels that I utilise include the web,
e-newsletters, direct mailouts, business listings in industry directories
and showcasing AFYE at networking events and functions.

71

BYOB_FINAL_16_12_06.indd Sec1:71 18/12/06 11:34:34 AM


Be Your Own Boss

In general, I believe positive word-of-mouth and client referrals are


the most powerful tool for any company in generating new business.

Are you able to balance your business with your life?


I know what it’s like to sacrifice everything to achieve a dream and I
don’t want to burn myself out early, so I do focus a lot on maintaining
a good life–work balance. At the moment at least, I think I’m juggling
all aspects of my life fairly effectively.
My motto is to work hard and play hard, though I do make sure that
I dedicate a reasonable amount of time to just relaxing, recuperating
and re-energising.

What are your business goals for the future?


To become profitable in the first year of business operation.
To provide a service that will directly link event managers,
corporations and individuals to the kind of sporting talent that can
make events stand out.
To provide a total event management solution for clients.

Who are some of your business heroes?


Richard Branson is a very inspiring business role model for me – I like
the fact that not only is he incredibly creative and business savvy, but
that he also has a little bit of the larrikin in him as well.
Kerry Packer is another businessman I admire – he was a very successful
and very smart man who did a lot for sport and business in Australia.

Do you have a business mentor?


I have a few unofficial mentors who provide me with very valuable
tips and insights. I am always looking for more mentors!

72

BYOB_FINAL_16_12_06.indd Sec1:72 18/12/06 9:25:20 AM


On your
yo ur m ar
arks
ks

What are your top three business tools?


For total business mobility, organisation and convenience, I believe
you can’t beat the good ol’ laptop, mobile, and email.

Are there any business networks that you have found


particularly useful? find out
I have only just joined some of these networks but one that stands out more
so far is the ABN (Australian Businesswomen’s Network) – they are www.abn.org.au
incredibly supportive of young Australian female entrepreneurs.

What are some of the new growth industries in Australia?


Definitely event management – people are always looking to put on
a function with a difference. They want their event to be unique and
have their audience thinking (and talking) about it after it’s over.

Is Australia is a good place to start up your own business?


in
Definitely! Living and working in Australia provides a lot of
opportunity. If you’re motivated to succeed, this is a great place to
brief
be because you have the freedom to explore whatever avenue of Leonie Nichols, Athlete
For Your Event
business you feel passionate about.
age 26
Is there any advice you would give to young Australians hrs/wk 50+
wanting to start their own business? quals B Sports Management
(Marketing)
Do your research and then just do it! If you have an idea and you know
life–work quite good
that it will work well if you put your mind to it, then jump in there and
go for it.

M o n–F
ri
• 7.30a
m st a r
t wo r k
• Re sp o
n d to e
m a ils
• Atte n
d m e et
in g s
• B u s in
e s s dev
e lop m e
nt
• Lu n c h
tim e c la
s s at g y
• Ma rk m
etin g w
ork
• Me et
w it h c li
e nts o r
at h lete
• 6.00p s
m fin is h
wo r k
S at–S u
n
• G o to
the be a
c h/g y m
• Ha n g
o u t w it
h f r ie n d
s

73

BYOB_FINAL_16_12_06.indd Sec1:73 18/12/06 10:26:33 AM


BYOB_FINAL_16_12_06.indd Sec1:74 18/12/06 9:25:25 AM
Show me
the money
These days, people want personalised service, whether they’re picking
up a skim latte or doing a spot of debt consolidating. Apparently,
being called ‘Client #451008’ just doesn’t give them the warm and
fuzzy feeling that they are so desperately seeking.

A quick browse of the Australian Financial Services Directory shows


that there are plenty of organisations out there taking care of our
piggy banks. The baby boomer generation, now moving into its
retirement years and pondering how to buy that holiday house, is an
eager market for financial planning and investing services.

So how can you make your financial services company stand out? By
offering better and more personalised service to your customers.

The big banks are big for a reason – they do their job well – but many
people would much prefer to be served by a vibrant local firm than
a multinational corporation. And imagine how good you could be
at superannuation, BAS statements or managed investments if you
focused on just one of these areas?

We spoke to Jacob Waks, who went up against the big companies by


offering personalised service and specialising in life insurance.

75

BYOB_FINAL_16_12_06.indd Sec1:75 18/12/06 9:25:26 AM


Be Your Own Boss

cv very young
Jacob Waks – RiskProtect Pty Ltd
entrepreneur (est. profit- Jacob had been working in fitness and
making lolly business in health for several years when a friend
Yr 9) >> personal trainer working in the life insurance industry
>> sports therapist >> life approached him with the offer of
insurance adviser >> owner, working in financial services. Hesitant
RiskProtect Pty Ltd at first, Jacob decided in 2001 to commit
to this new opportunity and says that
he has never regretted his decision.

Soon after entering the industry, Jacob


noticed that although many financial
planning companies, banks and other
companies offered life insurance advice, the advice was always an
add-on service. In 2004 Jacob decided to service this gap and founded
RiskProtect, a specialist life insurance company.

q&a
What is RiskProtect?
RiskProtect is a business that specialises in life insurance and
corporate superannuation. We provide advice to individuals,
businesses and families seeking help with their insurance.

When did you first come up with this concept?


After a couple of years of working in the finance industry, I began to
notice that there weren’t many specialist life insurance companies.
So I decided to establish RiskProtect to service this gap in the
market. After an intensive research and planning process, RiskProtect
commenced business in August 2004.

Why offer specialised services?


It allows us to be recognised solely for the advice that we give. This
recognition has come from others in the financial services industry
such as financial planners who refer business to us even though they
could give insurance advice themselves. We also receive referrals from
accountants and other similar businesses.

How hard was it to transform your business idea into


business reality?
It was relatively easy since I was guided by people who have either
owned businesses in the past or have been in the industry for
many years.
The process was also made easier because of the many people I knew
within the industry who encouraged me to give it a try.

76

BYOB_FINAL_16_12_06.indd Sec1:76 18/12/06 9:25:36 AM


S h ow me
tth
hee m on e
eyy

What stages did you go through before you started


your business?
I started by using the people around me as a sounding board by
running a few ideas past them. It was great for me because I quickly
learnt that certain things that I wanted to do could have been a waste
of time or just not right for my business.
Creating a comprehensive business plan was the next stage – that
document has become in many ways a bible for the way I run my
business. Much like my business and myself, my business plan is
constantly evolving from the first draft that I created.
Networking was the tool for me to create new relationships with people
– initially I was a little fussy as to who I would refer or take referrals
from, and looking back I think that my carefulness has been worthwhile.
There was also the choice of having my own licence or outsourcing
through an external company. I chose the latter option so I have my
licence through Millenium3 Financial Services Pty Ltd. This allows me
to concentrate on the service that I provide whilst outsourcing all the
compliance costs to a third party.

r than
l t / o : Bette
Annu a ht it
I thoug
b e
would
ve
RiskProtect than fi
s t a f f : Fewer
Pty Ltd No. of To crea
te
B iz vision: at is well
Owner: Jacob Waks ess th
a busin r servicing s
know n fo e need
le ’s in suranc
peo p
a
on with
h ea lthy pers e rior
that a r sup
re is n o doubt ffer c lients a fa
‘The able to
o
aholic.’
d life is y work
balance un h ea lth
than an
service

What aspects of the startup process were most important?


I have always believed that any business needs to be built on strong
values and a good reputation – they are the cornerstones of business
longevity and success.
Because of this, I was determined to build my business on quality rather
than quantity, even though it was very tempting to go down the route
of mass marketing or buying part of an existing business to kick-start
the growth of the business. I believe that it is this level of attention to
detail that strengthens the future value of RiskProtect.

77

BYOB_FINAL_16_12_06.indd Sec1:77 18/12/06 12:41:42 PM


Be Your Own Boss

Do you think you have made any mistakes along the way?
I made many mistakes along the way! Probably the major one was that
I didn’t look after my health and my own finances during the tough
phase of the business. I didn’t have an outlet and would work a few
17- or 18-hour days in a row.

What has been the hardest aspect of owning your


own business?
For me, the hardest part was the transition from being a provider of
a particular service – life insurance advice – to suddenly having to
think about the finances, legal work, marketing, recruitment and other
aspects of the business.
In the beginning, I suffered from a severe lack of sleep because I was
constantly thinking about the different aspects of the business; it
consumed 24 hours of my day.

viding a
a big part of pro
Research is e
great servic

What’s the best part?


Nothing is better than knowing you have created a business that is
growing based on your ideas and values. I really enjoy the business
ownership aspect and would love to start many more companies.

78

BYOB_FINAL_16_12_06.indd Sec1:78 18/12/06 9:25:43 AM


S h ow me
tth
hee m on e
eyy

How important is marketing for your business to succeed?


My business has grown solely due to referrals, which has made my
clients more loyal. I chose referrals and quality clients over other
‘bulk’ methods because I believe that my company’s reputation is the
most important aspect of its future growth.

Did you supply the initial business capital or did you have
outside investors?
I supplied the set-up costs. As RiskProtect is a service provider rather
than, for example, a product-based retailer, the initial capital was not
as high as that required for other businesses.

As a young entrepreneur, do you think it is more difficult to


get outside funding for business ventures?
No, I believe we are lucky to live in an era where it is very easy to
obtain funding. There are so many people in Australia who own
businesses or wish to invest in business that it really isn’t that difficult
to obtain funding.
Obviously, you may need to look around or apply for a few different
options before you actually obtain funding – that is why having a
clear plan, proposal and direction for the business when speaking to
potential investors is essential.

Are there any attributes that you think are common amongst
entrepreneurs?
I believe persistence is the most important aspect of business; there
were many times where I thought it would be easier and obviously
less stressful to go back to a good income as an employee but I
persisted with my own business. This persistence led to greater
self-belief, which is I believe, the most important attribute that an
entrepreneur can possess.
When you think about it, without self-belief most potential
entrepreneurs will not even give themselves a go, and if they decide
to start up a business without really believing in themselves and their
abilities, then they’re not giving it a fighting chance.
Apart from perseverance, self-belief and the ability to adhere to basic
market principles (for example, finding out what the customer needs)
– you also need to be flexible enough to change the original concepts
of the business if needed.

How hard has it been to have a good life–work balance since


starting your own business?
I have to say that this is the area that I have found the hardest,
and unfortunately a lot of my relationships with friends and family
suffered. I was lucky, though, that the people around me understood
that I was following my dream, so they encouraged me to keep at it.

79

BYOB_FINAL_16_12_06.indd Sec1:79 18/12/06 9:25:45 AM


Be Your Own Boss

What are some of your business goals for the future?


My main goal is to continue letting the business grow organically,
rather than trying to push it to the next level. I have found that each
client refers at least one other person to the business, which means
we are expanding steadily and I’m able to maintain a consistently high
level of quality in my business’s activities. Over the next 10 years, I
would like to continue growing the business here in Sydney and also
expand our services to include the Melbourne and Brisbane markets.

With the benefit of hindsight, is there anything you would


have done differently in your entrepreneurial career thus far?
I would have set aside more time for friends, family and keeping fit.
There is no doubt that a healthy person with a balanced life is able
to offer clients a far superior service than an unhealthy workaholic.
Similarly, the client is more likely to be confident speaking to a well-
rested, happy, healthy business owner.
I would have also noted down processes within my business from an
earlier stage; I learnt this from the book E-myth by Michael Gerber. It’s
proven invaluable in creating a proper system that is easily transferable.

Do you have any business heroes?


Frankly, I admire anyone who has their own business! Once I started
RiskProtect I realised how hard it actually is to get a business started
and make it successful.
I also admire people who have an idea that they believe in and stick
with it through thick and thin – those are the kind of people who
will make successes of themselves and their ideas, despite all the
opposition they come up against.

Do you have a business mentor?


Yes, I have a few mentors – some are in the same field and others are
business owners who are very successful in my mind.
For me, mentorship is one of the most important and beneficial
aspects of creating a successful business. My advice to other young
entrepreneurs is to surround yourself with mentors in the area you
wish to pursue or to find a general business mentor – many successful
business owners are happy to sit down over a coffee and answer
questions that you may have, and their input can be invaluable.
I also have mentors in other areas of my life, people who I look up to
and bounce ideas off. I believe it’s important to have someone who
you respect and can learn from in every area, from personal skills and
characteristics to business and industry skills.

What do you do in your spare time?


I cycle, compete in and instruct lifesaving and have a nightly swim. I
also, of course, spend time with family and friends.

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BYOB_FINAL_16_12_06.indd Sec1:80 18/12/06 9:25:47 AM


S h ow me
tth
hee m on e
eyy

What are your top three business tools?


My computer – unfortunately! Yes, even though I hate to say it, my
computer is without a doubt my most important business tool. I
use it for everything from taking down ideas to putting together
presentations and research. Computers just make it so easy to have a
living document that you can change regularly.
My telephone – clients know they can contact me any time of the day
or night, and I do encourage them to call me straight away if there is
a problem.
A sketchpad – this is something I use whenever I am speaking to a
client. I find that many people think visually, and having the sketch
pad really helps to put ideas on paper in a more personable way
than, say, a computer. It’s a tool of the trade that I learnt from one of
my mentors. I will admit that it took me a while to get used to this
method, since it isn’t my most natural way of learning.

Are there any business networks, resources or support


organisations that you have found particularly useful?
There are many business networks that are useful for meeting and
getting to know other business owners. I would encourage people to
try a few out before making their decision, as each group is different
from the next.
I have been a member of a large surf club for a number of years which
has led to great contacts and mentors, but more importantly helped
me to develop my personality as well.

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BYOB_FINAL_16_12_06.indd Sec1:81 18/12/06 9:25:48 AM


Be Your Own Boss

The greatest business resources for me are books. I have many books
on life insurance, sales, business, personal development, marketing
and other areas. For me, the best thing about reading different
business books is that each author has a different perspective. If
reading a book gives me one new idea or inspires me to do something
differently, then it’s worthwhile. Too many people look to books for
specific answers – the secret is to keep an open mind while reading a
book and often it will inspire a new idea within you.

What do you see as some of the new growth industries


in Australia?
Any business that can trade using the Internet to sell a product or
service, simply because this allows them to enter the global market.
Also any businesses aimed at the aging population – baby boomers
– will probably also experience growth in the next 10 years as people
start to retire and spend the money they have earned.

Do you think that Australia is a good place to start up


a business?
in I think that it’s a great country to start a business in almost any industry.
brief We have a market here for most products and services, and a relatively
prosperous, well-educated population with a high level of Internet
Jacob Waks,
RiskProtect Pty Ltd access. In my mind, Australia is an ideal market for somebody willing
age 27
to offer value-added service rather than just a commodity at a price.
hrs/wk 60 What advice would you give to young Australians wanting to
life–work considerably better start their own business?
than it was 12
months ago! Just give it a go! If you believe in your idea, run it past a few people
you trust then go for it.

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BYOB_FINAL_16_12_06.indd Sec1:82 18/12/06 9:25:51 AM


Wish you
were here
The rise of reality television has taught us that people are tired
of watching fake people in fake houses agonising about fake
relationships. People want to know about real people. You can also
see this revolution happening on the Internet. The most popular
websites are the ones where people read about other people.

The age of user-created content is upon us. Think about MySpace,


BlogSpot and LiveJournal – they’re all rolling in advertising money,
but they provide no content, just a network which the public fills with
things they think are interesting. And it works – MySpace was recently
bought by News Corp for US$580 million, and not a cent went to the
people who provided the content! Now that’s an efficient business
model …

People want to share their experiences, their photos, stories, art and
thoughts, and they need help doing it. There’s room for more of these
websites, so get thinking. Maybe people need a space to share their
glockenspiel-centric covers of Metallica classics. (Then again, maybe
not.)

We spoke to Travis Pittman, who started an online community with


his brother to help backpackers and five-star travellers alike keep in
touch with the folks back home.

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BYOB_FINAL_16_12_06.indd Sec1:83 18/12/06 9:25:52 AM


Be Your Own Boss

cv pizza delivery boy >> Travis Pittman – Bugbitten.com


strategic planning engineer,
Aussie-born Travis successfully
Brisbane >> design/
launched his online community for
process engineer, Brisbane travellers, Bugbitten.com, in 2003.
>> design/construction Now aged 28 and based in Vienna,
engineer, London >> Austria, he makes the most of his
started Bugbitten.com >> proximity to the UK and the rest of
planning/project controls Europe while he expands and develops
engineer, London >> full his business with his business partner
time, Bugbitten.com and brother, Shawn.

Together the brothers have helped


thousands of travellers from all over
the world to keep in touch with family and friends by creating their
own travel website to share photos, blogs and experiences.

q&a
Where did the idea for Bugbitten.com come from?
After developing a close-knit group of friends during my time
at university, I was determined to stay in touch. Once I started
researching my travels, I realised that there weren’t any easy to use
available websites to help share my photos and blogs. I had just
bought my first digital camera and was keen for my mates to see my
fun adventures. So I created a site to help travellers keep in touch.

How did the website start?


Although I didn’t have any skills in web design or the Internet, I
managed to teach myself the basics using Google and free HTML/web
design tutorials.
When I made the move to live and work in London, I set up a website
called Aussiesineurope.com where I started to post photos and
stories of my travels in Canada, Europe and the UK. More and more
friends asked me how I had set up my own website as they were keen
to do the same. It became obvious that there was a potential business
opportunity due to the number of people asking me about it.
I continued to investigate the market, software, domains, server
hosting, and all aspects that I thought needed to be researched before
I made a decision to pursue this seriously. I discussed the concept
with my brother, Shawn. After a few weeks of discussion about
whether we could do it or not, he came up with a brand that expressed
our concept – to be bitten by the travel bug – hence, Bugbitten.com.
The domain was thankfully available and we had taken our first step.

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BYOB_FINAL_16_12_06.indd Sec1:84 18/12/06 9:26:00 AM


Wis h you
we re h e re

After this we asked a friend to design our logos and basic graphics,
and although the bugs look quite different today, it gave us enough to
start promoting the idea to friends. In the early days I can remember
checking the daily website statistics and if we managed to have one
person sign up I was ecstatic!
Since these early days we have continually revised our brand and
website to ensure that simplicity and useability are core to our site
being the leading travel photo and blogging site. Since Bugbitten’s
initial conception, the online world has developed rapidly and we have
continually reviewed our products and added new tools and services
to the site. Members can now send real printed postcards using their
own images, send SMS, search thousands of tours, adventures and
hostels worldwide and create their own online hub called ‘my stuff’
where they can add and customise everything from news (locally and
internationally), sport (any sport from around the world), horoscopes,
weather, and travel deals.

om!!!
t / o : We’re a .c
l
Annua
e all up
Bugbitten taff: nin
No. of s no. 1
be the
.com B iz v is ion: To ity for travel
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online hare their blo .
Owners: Travis and bugs t o s
perien
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and ex
Shawn Pittman p h o t o s
r
ellers fo
ilt by trav ry day
ha s been b u
th e site e e
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itten till u se ations
‘...Bugb h aw n and I s s ea rch destin
ers. S to r e
travell gs and ugs.’
re p ho tos, blo ot he r travel b
to sha s of
erience
sing t he exp
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ug bitten.c
www.b

How is Bugbitten.com different from other blog websites?


Bugbitten’s strength is that it has been built by travellers for
travellers. Shawn and I still use the site every day to share photos, detour
blogs, keep updated on news and sport around the world, and to
Read about the possibilities of
research destinations using the experiences of other travel bugs. combining your love of travel
Our latest addition is a new online currency especially for travellers, with your career in Career
called ‘Bugs’. Members can use the Bugs to buy services and products FAQs Travel & Tourism.
such as their own ‘.com’ domain name, real printed postcards of their www.careerfaqs.com.au
photos and text messages to be sent anywhere in the world.

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Be Your Own Boss

Where did you get your passion for travelling?


Shawn and I get our passion for travelling from our parents. We grew
up in the Northern Territory and went on regular camping and fishing
adventures to remote locations with the Darwin Landrover Club. We
toured around Europe in a caravan for a year, and when I was 10 we
moved to Cairns, regularly visiting the Great Barrier Reef, Daintree,
Lake Tinaroo and Thursday Island.
I’m a naturally curious person and love learning about myself and the
world while travelling. Travelling often puts you in unusual situations
and I love the feeling of being out of my comfort zone. Things don’t
always go to plan however and I always try to remember when things
go bad, to think of the stories I’ll be able to tell my mates!

What’s your professional background?


My professional career began in a small, tight-knit class at the
University of Queensland where I completed my Bachelor of
Manufacturing and Materials Engineering degree.
find out I’ve worked in various engineering disciplines in both the public and
more private sector and have enjoyed all my jobs since leaving university.
Read more about the factors The diversity of roles I have had, has taught me very different lessons
to consider when starting an and given me skills which have helped develop Bugbitten. During
online business in my career I’ve had varied roles including sweeping the factory floor,
‘Ready Set Go for it!’
designing componentry for cars, process management, inventory
on page 204..
management, designing/managing construction of London water
distribution network, forecasting life expectancy and costs of Brisbane
water pipe network, lead planner for the refurbishment of Oxford
Circus tube station, project controls manager of communication
systems refurbishment for London Underground stations.

Have you always wanted to run your own business?


Yes. My Mum and Dad were, and still are, self-employed, which
definitely contributed to my belief that I could be my own boss. I’m
very independent in nature, so I enjoy the challenges and control that
owning your own business brings.

What are the implications of starting an online company


– how is it different from starting a traditional business?
Many people believe that online businesses only require building
a website, sitting back and watching the money roll in. If it were
that easy, why isn’t everyone doing it? I agree that the general
overheads of an online business are lower than traditional business;
however the costs are certainly not zero! Some of the most important
considerations include server types, locations and costs, data backup,
sourcing and maintaining programmers and designers and testing
strategies to increase web traffic.

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BYOB_FINAL_16_12_06.indd Sec1:86 21/12/06 11:46:00 AM


Wis h you
we re h e re

How many employees and how many offices does


Bugbitten.com have?
There are two full-time, three contracted and four part-time
employees. As the nature of our business is travel, we are all located
in different parts of the world – though the three main offices are
in Vienna, London and Cairns. Operating in the online business
world allows the team to work globally, and with a laptop, wireless
connection and a mobile you can be anywhere but still be in ‘the
office’.

What’s been the best part about running your own business?
Driving business development and having the freedom to convert my
ideas into reality.

What’s the most difficult?


Unlike a regular job, when you are the key decision maker and income
earner you do not have normal working hours, or set responsibilities.
You are constantly thinking of new things to increase awareness,
coolness, traffic and revenue into the business. Sometimes this means
lying there in bed at six in the morning, head pounding from a few too
many drinks the night before, yet still thinking of what needs to be
done yesterday!
Also, as ours is an online business, you can work anywhere and at any
time! To deliver new developments we often work across competing
time zones and geographical boundaries.

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Be Your Own Boss

How is the life–work balance in your job?


When it’s your own business there are of course many times when you
just can’t escape the office. However, a motto of mine in life (and one
of the main reasons I wanted to be my own boss) is to live and enjoy
life to the full. With this in mind, I still manage to fit in sport, travel,
beers with mates and spending time with my girlfriend.
Having my brother Shawn in the business is a great benefit as we can
cover for each other, offer support and generate new ideas. I firmly
believe in being passionate about your business, but this has to be
balanced otherwise it defeats the purpose of being the boss.

rations
second bir thday celeb
Travis at Bugbitten”s
Shawn and
Does the job offer much in the way of flexible working hours
detour and conditions?
My working conditions and hours are often flexible. If for some reason
Interested in an Internet I have to stay in the office for an extra couple of hours the night before,
career? Check out Career
I’ll treat myself to a bit of a sleep-in the day after to help recharge
FAQs Information Technology
the batteries. Another fortunate thing about my business is that it’s
www.careerfaqs.com.au
web-based and essentially means that if I have my laptop, a wireless
internet connection and a headset, I can do my job from anywhere in
the world. I use an online communication tool called Skype every day
to keep in contact with business partners, and highly recommend you
set up an account to take advantage of their free products.

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BYOB_FINAL_16_12_06.indd Sec1:88 18/12/06 9:26:05 AM


Wis h you
we re h e re

What are some of the important steps to becoming your


own boss?
First of all you need to make sure your idea is a good one by
researching and reading. Ask yourself whether you are providing a
product or service for which there is an established market, and need,
and also that it is economically viable. Choose your business partners
wisely and ensure you have a strong network of positive family and
friends supporting you.
Your attitude is very important – remain positive no matter how
demanding things are and be patient. Don’t get distracted by ideas
and developments that aren’t contributing to growth or revenue
increases.

What are your goals for the future?


To take the business into the next phase of success. The business has
come a long way in the past three years (going from a part-time hobby
to full-time business) but we feel there is still a massive amount of
room for growth.
The travel industry provides limitless opportunities as it is a growing
cultural desire within almost all nationalities to travel. With the
increase in ease and demand for travel, we wish to provide a service
which will be an integral part of these travels, like other convenience
services such as mobile phones, and email.

How do you market your business?


Word of mouth always has and will be the best form of marketing
for any business – particularly services like ours that work across
large networks of friends and family. To date we have been fortunate
enough to not have to pay for major advertising. Instead we have
relied on developing partnerships with other businesses which have
resulted in mutually beneficial relationships (such as our partnership
with a new backpacking magazine for Central and Eastern Europe
called Packed Magazine). These partnerships have been fundamental
to our business and we have helped each other to grow our target
markets.

How does the site make money?


Advertising, site and page sponsorships, licensing our content (over
2.5 million travel photos and 70 000 travel blogs from around the
world) to travel suppliers and also through various products and
services we offer our users.

Can you give us an idea of how much the company turns over
each year?
Turnover? We are a .com! glossary
What’s your life motto?
Carpe diem means:
Carpe diem. Live life today like there is no tomorrow. There are too
– ‘seize the day’ in Latin.
many opportunities out there to enjoy yourself in this life to sit down
and let them pass you by.

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BYOB_FINAL_16_12_06.indd Sec1:89 21/12/06 11:47:48 AM


Be Your Own Boss

What advice would you give to anyone thinking of starting


their own business?
Great things are achieved in life, but all achievements begin with a
first step. If I look back at where we are today in comparison to three
years ago, it’s almost unbelievable. However if I break it down, it has
all been achieved literally one step at a time. Every little bit helps
– even if you only start spending 20 minutes a day for the first month
of planning the business that adds up to over nine hours.
Make the most of online resources and tools, including Google and
other industry specific magazines, publications and tradeshows.
Be prepared to make small but significant personal sacrifices, which
most regularly involves your time. When your mates are still at the
pub, you might be back in the office answering emails, but remember
you will also be the one running your own business and reaping the
rewards for this hard work.
Also accept that you can’t do everything yourself, but don’t let this
stop you from giving it a go in the first place. This is why having
a business partner from a different background helps (Shawn’s
background is in venture capital). We both learn from each other and
we are not afraid of getting our hands dirty.
Before making the transition from part-time business to full-time
business, ensure you have the financial strength to do so.
Ensure you speak to an accountant and solicitor before you start
trading (even if they are friends). A little planning now minimises
unforeseen risks later.

How many hours a week do you now spend on Bugbitten?


What are the main jobs to do?
An average week for me now is between 50 and 60 hours (in the
first couple of years around 30 hours on top of my usual 40 hours of
normal work). Because funds and resources are often limited when
in
brief you start your company, you will inevitably take on more than one role.
Main jobs for me include technical web development with our team
Travis Pittman, Bugbitten.com
of programmers, brainstorming new ideas for future development,
age 28 market research, customer support, identifying and nurturing potential
hrs/wk 50–60
business partnerships and the occasional sales call. I also try to attend
quals B Eng
any trade shows to meet new people and be inspired by new ideas.
(Manufacturing
& Materials), The next phase of the business may involve travelling to visit
Honours IIA, UQ
partners, suppliers and advertisers who are based all around Europe
life–work Can be challenging
but I make an effort
and Australia. Yes, it’s tough but someone has to do it!
to enjoy life as
much as possible!
Anything else you want to add?
Don’t just talk about it. Do it.

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BYOB_FINAL_16_12_06.indd Sec1:90 18/12/06 9:26:09 AM


Eat your greens
Heart disease. Hypertension. Obesity. Good fun, right? Wrong. That
stuff is out. As more and more people are realising, health and fitness
is in. Australia has been swept up in the Wellness Revolution – yep,
people are finally starting to realise that having a healthy lifestyle and
a healthy diet are great ways to feel good – and not die.

More and more people are joining sporting clubs, fitness classes
and gyms in the pursuit of optimum physical fitness and/or a free
backpack. When it comes down to it, living well can be as simple as
going for the occasional walk – no, not a walk to the fridge, I mean a
real walk.

Perhaps an even bigger concern is right under our noses – our


mouths. Specifically, the immense amount of junk food we put into
them. Fortunately, in the past few years, some fast food providers
have recognised the need to provide a healthy fast food alternative,
and people are eating it up – literally.

And who better to tell us all about healthy alternative fast food than
Luke Baylis from Sumo Salad. It’s time to pass on that deep-fried Mars
Bar for breakfast and eat your greens!

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BYOB_FINAL_16_12_06.indd Sec1:91 18/12/06 9:26:09 AM


Be Your Own Boss

cv accounts and quality Luke Baylis – Sumo Salad


assurance manager >>
Luke worked in accounts and quality
major accounts manager assurance auditing for an IT company
>> business development for several years and was promoted to
manager, NY >> owner, general manager before moving into
Sumo Salad business development.

But it was while working in the USA


that he and James Miller (co-founder
of Sumo Salad) began planning their
entrepreneurial careers. After the
events of 11 September, 2001, they
returned to Australia and began to put together the plans for Sumo
Salad.

q&a
What is Sumo Salad?
The concept behind Sumo Salad is creating a strong brand and
offering a healthy fast-food alternative.

How did you come up with the idea?


When James and I decided that we wanted to start our own business,
we spent about six months developing plans for six or seven different
businesses that we thought were commercially feasible. Once we’d
gone as far as we could with them, we started talking to business
mentors, family and friends about the different options.
All in all, we spent about six months talking to various business
people, and working out where we were in our own lives, whether we
were ready to give up the security of having a full-time salary and go
out on our own.
In the end, we decided that Sumo made the most commercial sense.
We’d seen a few businesses with a similar concept to Sumo in action
around the world – in particular, there was one in New York with a more
soup-based focus – and we thought that it could be popular here, so
we then just tweaked the concept to suit the Australian climate.

Where did you get the initial business capital?


James and I self-funded it originally, just to launch the product and
prove to ourselves and others that it was commercially viable.
Basically we started off working 18-hour days – our plan was to do as
much of the work that we could ourselves. After about eight weeks
we’d upped our daily turnover from $300 to $4000, which was great.

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BYOB_FINAL_16_12_06.indd Sec1:92 18/12/06 9:26:15 AM


Eat you
yourr gre e
ennss

So, when did Sumo first start trading?


We started off in Liverpool Street, Sydney, in 2003.
Basically, even though it was a single site, we treated it like a multi-
site; we were extremely hands-on and spent a lot of time working
out ways to replicate and streamline the business for future sites,
developing and writing up systems to increase the operational
effectiveness and maximise the profit.

lion
12 mil
l t/o: $
Annua Austra
lia
Sumo Salad f s t a f f : 25 in a i
No. o b
and Du
00
have 3
Owners: Luke Baylis Biz vision: To res and to be
to
and James Miller Australian s al brand
rg lo b
a majo es was
e t e d ourselv
d ma r k “Luke
w en t out an h a d called it
‘The wa
yw e d. If w e t ended
u s get notice o u ld h ave jus
ade ew
what m Bar” w
am es ’s Salad o re.’
and J er st
ano th er corn
up as .com
lad
umosa
www.s

How much did the reality of Sumo differ from your plans?
A lot. We’ve really tried to let Sumo evolve and grow as a business.
Originally the idea was just to ‘design your own salad’ but now it has
evolved to a total healthy fast-food concept with mass-market appeal.
Because we had a small budget our focus from the start was really
on giving great customer service and listening to all the feedback we
could get from customers, staff, and suppliers.

How hard was it to set up Sumo as a franchise?


find out
Initially our plan wasn’t to set up a franchise but to have all the sites
company-owned, so that we’d get a better financial return. But we
more
found that it was difficult to find and retain staff motivated enough Learn all about franchises:
to treat the business like their own without a great deal of financial www.franchise.org.au
incentives. The obvious solution to the problem was franchising. www.franchisebusiness.
com.au
Is it difficult to hand over your business to a franchisee?
It’s getting easier now, but definitely in the infancy stages it was very
difficult because if you happen to choose the wrong franchisee it can
stop your business short. The trust issue is huge because one bad
store can ruin it for the business.

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BYOB_FINAL_16_12_06.indd Sec1:93 18/12/06 9:26:17 AM


Be Your Own Boss

How did you prepare the business for the franchise system?
Well, we had to decide how all the sites would run, so we created
manuals for everything: training, quality assurance, hazards,
marketing, how to use the intranet, account payment procedures,
dealing with suppliers – you name it, we’ve got a manual for it.
The manuals are so important for us because they govern how each
franchisee is running the business and how effective each business
will be. If you leave things a little ambiguous, it can go either way, so
every manual is really detailed and precise.
It took us about six months to write out the manuals for the basic
operations of the business and we still spend a lot of our time
updating them as the business continues to evolve.

How important is marketing for Sumo?


It’s essential. The way we went out and marketed ourselves was what
made us get noticed. If we had called it ‘Luke and James’s Salad Bar’
we would have just ended up as another corner store. We wanted
a catchy name and a standout logo, with bright colours and good
pictures. We wanted the signs to be printed nicely rather than hand-
written – basically, we wanted everything to be really professional.
The whole idea of Sumo Salad is about having fun and being a bit
cheeky. I mean, to have a big Sumo wrestler promoting healthy eating
is kind of irreverent – it’s all about having this fun, funky, tongue-in-
cheek approach.

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BYOB_FINAL_16_12_06.indd Sec1:94 18/12/06 9:26:19 AM


Eat you
yourr gre e
ennss

How do you market Sumo?


Our whole strategy for marketing is really based on being as cost-
effective as possible. We did most of our research for the business
online. And, because we both come from IT backgrounds, we wanted
to make the most out of our online presence, so we put a lot of work
into making the website fun and interactive.
But in terms of pop-up windows and big banners, we don’t do that
kind of stuff because we know from our own experience that it’s more
annoying than anything else.
We did a viral email campaign recently, a video of James and I dressed
up in our sumo suits. It was just about getting people to have a laugh,
really, and pass it on to their friends. Because of our target audience
– young, techno-literate people – it’s a lot more cost-effective to
market ourselves online.
We also do gimmicky stuff like getting two people to stand on a
platform and talk loudly about visiting Sumo Salad. Cheap, yes –
but it gets people talking about Sumo, and that’s what marketing is all
about.
There are so many attention-grabbing, but cost-effective, things that
you can do with marketing – we are always looking for ways to get the
name out there without spending thousands of dollars.

Do you think you’ve made any mistakes along the way?


Definitely. Things are never going to turn out as you planned. You
decide on a certain path and start moving along it and suddenly a
new option comes up that is more suitable to your original plan.
For example, before we started Sumo we thought that catering would
be a huge part of our business, more than 50 per cent, but in reality
it’s less than 10 per cent. Nothing is what it seems to be when you
first start out with a big decision – there’s always a lot more to it!

What are your business goals for the future?


Our goal is to have 300 stores open in Australia by 2009 and to
expand the concept globally as well. We see the international market
as a big growth opportunity for Sumo.

What is the hardest aspect of owning your own business?


Long days. It’s easy as a young entrepreneur to try to do everything
yourself rather than delegating to other people – particularly in the
beginning when you’re trying to save money and get the business
going – but in the end all that does is make you so run-down that your
judgment gets clouded and you can’t sleep.

And the best?


Every day you come home and you feel like you’ve achieved
something. Even if it’s just a little thing, you know you’ve done
something good for yourself long-term. Also, knowing that all the
hard work is going to pay off; that you’re not busting your chops for
someone else’s financial gain.

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Be Your Own Boss

What skills do you need to be a successful entrepreneur?


You definitely need great sales ability as an entrepreneur because
you are effectively selling your product to everyone – customers,
suppliers, and financiers, and to get the great sales skills you need to
be a good communicator.
Good people management skills are important, as well as knowing
how to not micro-manage your staff – or at the other end of the scale,
not manage your staff at all.
To succeed long term, I think you also need to have a solid
understanding of finance and strategic business planning.

How hard is it for you to balance life and work?


At the beginning it was really hard – I couldn’t do it, and I really
started to suffer from it. The problem with starting up a business is
that you do have limited resources. You can’t just say, ‘I’ll hand this
over to someone else’ because there is no-one else.
After about 18 months, when we’d got over that hump and knew that
things were fairly secure, we started to feel like we could prioritise
things and work at having more of a life–work balance.
Now, I make the time to chill out or go to the beach. My partner and
I also have a rule that when we come home at night, the workday is
done – it’s so important to me now to have that separate life, and to
switch out of work-mode when I’m at home.

What are your top three business tools?


My mobile phone, laptop and the company Intranet – with these three
tools I can be completely mobile.

What are some of the new growth industries in Australia?


Any commodity-based business is going to be tough to crack. My
advice is to find a business that you can create a strong point of
difference, and where there is enough consumer demand to sustain it.

What advice would you give to young Australians wanting to


start their own business?
It’s so important to get information from anywhere and everywhere
you can – get as much input as you can from sales data as well as
in
brief customer, staff and employee feedback – and if certain things aren’t
working, you’ve got to be willing to fix them. You can’t just assume
Luke Baylis, Sumo Salad
that you’re always going be right. You’ve got to keep an open mind.
age 29
hrs/wk 40–70 What do you do outside of work?
life–work pretty good now I hang out with family and friends, go to the beach and surf, swim,
cycle, golf, play tennis, watch sport on telly – though I prefer playing it!

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BYOB_FINAL_16_12_06.indd Sec1:96 18/12/06 9:26:22 AM


Cheers!
Dude, where’s my Cabernet Sauvignon?

Some business ideas fill glaring gaps in the market, giving people
what they want. Others offer the customer something they never knew
they wanted. The distribution of many new foods and drinks fit into
the latter category.

Australia’s wine industry has boomed in the last 20 years. Before


that, barmen responded to orders of wine by howling with laughter
and saying, ‘No, seriously, what do you want?’ Since then, wine
appreciation has certainly come a long way – but wine is still not the
drink of choice for many Gen Xers. Beer, spirits and even vodka jellies,
for better or worse, are much more likely to be consumed at the
average 21st birthday bash. Young people aren’t that keen on wine,
but the right marketing can do wonders. Maybe a name change would
be a good idea – how about ‘Extreme Grape Blast’? Or why not set up
a wine tour company to get young people appreciating the delights of
the grape?

Wine-tasting tours will never be the same again with Gen Xers
on the prowl for a good drop. Cath Willcock’s business, Wine for
Dudes, proves that however you go about it, spotting and reversing
demographic trends can make for an extremely successful business.

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Be Your Own Boss

cv marketing wines
Cath Willcock – Wine for Dudes
>> wine sales, London >> Cath Willcock grew up with wine – her
owner, Wine for Dudes parents had an amateur vineyard when
she was growing up and her sister is
now a wine-maker so it’s not surprising
to hear that she loves wine and
everything to do with it.

When Cath started her tour company,


Wine for Dudes, she had a goal: to tip
wine off its pedestal in Australia and
make it more accessible to ordinary
Australians.

q&a
What is your background?
When I finished school, I did a communications degree and then
worked in marketing for wine companies, first in Perth then in Italy.
In 2000, I moved to London and started working in wine sales and
basically came up with the idea of Wine for Dudes whilst I was working
there because I realised that I really didn’t enjoy working in an office.
I moved back to Perth in late 2000 with the idea for Wine for Dudes
in my head, so while I worked for a wine company in Perth I wrote my
business plan and basically started up a year and a half later, in 2003.

How did you come up with the name ‘Wine for Dudes’?
It’s a funny name so I get asked questions about it all the time.
Basically, it’s a way of saying that it’s wine for everyone. I was in Italy,
and I noticed that, over there, everyone drinks wine. Not just people in
suits and dresses. I’d see a bunch of tradesmen coming into my local
cafe every day and ordering a glass or two of wine with their lunch.
And for me it was like, ‘they get it, they really get it,’ so I thought that
I’d try to take wine off its pedestal a bit here in Australia and help
people get stuck into it.

So, what is it exactly?


It’s a one-day, really practical, hands-on tour, where we take people
around the Margaret River area and introduce them to some of the
different types of wine. We go to three or four different wineries and
people on the tour do a wine-blending exercise where we blend two
different varieties of grapes together, like a Cabernet Sauvignon and
Merlot, so they see how a wine is produced. We also have a picnic
lunch where we use all local produce and then usually a winery tour
as well.

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BYOB_FINAL_16_12_06.indd Sec1:98 18/12/06 9:26:30 AM


Ch e e
errs!
s!

How hard was it to transform your business idea into


business reality?
It was pretty easy, really. I’d made up my mind that it was going to
happen so there was no issue about that. Also, I was lucky enough to
work with the New Enterprise Incentive Scheme (NEIS), a government
program that helps you out with your business plan and coaches you
in business management.

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Were there any aspects of the pre-startup process that you


think were most important?
My business plan. It ended up being around 100 pages and it was
important for me basically because it made me think about all the
different aspects of the business. I also managed to get a business
mentor out of the NEIS program, which, when you’re out somewhere
like the Margaret River in regional WA, can be absolutely priceless.

How important is business marketing to you?


It’s huge. I get probably 30 per cent of my business from the
Internet – people just surfing the web in their office. Also in terms of
branding, defining who we are, that’s crucial for us. My degree was
in communications and I’ve worked in marketing, so I know how the
industry works and that has helped a lot.

Did you supply the initial business capital or did you have
outside investors?
Wine for Dudes is great because the startup costs were pretty
minimal. I supplied some of the capital so I only had to borrow a really
small amount from the banks which made it a lot easier.

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BYOB_FINAL_16_12_06.indd Sec1:99 18/12/06 11:39:46 AM


Be Your Own Boss

Do you think it is more difficult for young entrepreneurs to


get business funding?
I can’t say for other people, but like I said I really only needed a small
startup amount from the banks and everything’s done over the phone
these days, so I don’t see age as big a factor.
However, when I was going around the town, trying to create business
relationships with local wineries for the tour, I had lots of doors shut
in my face. The reason was that I was young, it was called Wine for
Dudes, and a lot of them were really judgmental. They just figured it
was going to be a booze bus. It was only the forward-thinking wineries
that were really behind the idea.
In the end, it was actually better for us because we go to fewer
wineries and spend more time at each of them. Instead of being a
rush, it’s more fun and actually a lot more educational than many
other tours.

hip
s of her en trepreneurs
Cath enjoy ing the fruit

What is your vision for Wine for Dudes?


It sounds unambitious, but I’d really like it to stay at one bus, full
every day, the kind of tour you have to book ahead for. I’d like it to be
able to run itself, so that I can put a manager in my role while I try my
hand at other things.

Do you think you have made any mistakes along the way?
No, not really. I mean, there are always little things that can be
improved but in terms of mistakes – honestly, no.

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BYOB_FINAL_16_12_06.indd Sec1:100 18/12/06 9:26:34 AM


Ch e er
e rs!
s!

For me, I think it’s important as a business owner to know your own
weaknesses and acknowledge them. My biggest weakness is number-
crunching; I hate it. But my brother works in finance so he does the
books for the business which helps me sleep a lot easier at night.

What is the hardest aspect of owning your own business?


Being the only one who has to be there all the time. You can’t just
chuck a sickie because it’s your business and you’re the one who’s
responsible for it at the end of the day. My mates all get to switch
off at the end of the day, but I’m never really not at work, if you know
what I mean. My mobile phone is always with me, there are always
bookings to take – it’s impossible to switch off all that.

How hard is it for you to have a good life–work balance?


Not hard at all. The tour itself is only six hours long and I’m home
pretty much every night, so it’s easy for me to spend time with my
friends and my family.

What are your most important business tools?


The Internet – because it makes 24/7 marketing easier and more
effective.
My mobile phone – because it makes the bookings and administration
side of the business much more flexible.

Are there any business networks, resources or support


organisations that you have found particularly useful?
Yeah, NEIS. Honestly, they are unbelievable. Also, the Margaret River
Tourist Bureau – they do heaps of bookings for me and they have all the
stats and demographics of visitors to the area which can be really useful.

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BYOB_FINAL_16_12_06.indd Sec1:101 18/12/06 11:39:51 AM


Be Your Own Boss

In your opinion, is Australia a good place to start up your


own business?
Absolutely! It’s as good or better than anywhere else. We’ve got a
stable economy, heaps of tourists … and business is booming just
about everywhere so people have a lot more cash than five years ago.

ur
l mystery to
The magica

What advice would you give to young Australians wanting to


start their own business?
Ask for lots of help, take advice from others and don’t ever think that
you know everything there is to know. I’m always asking people in
business about their experiences; I think that is really, really important.
Crunch the numbers before you begin – make sure that your business
is going to work before you open your doors.
Also, apply for business grants. There are so many of them available,
especially from the government, and every dollar helps your
business grow.

What is your favourite life motto?


in
brief Don’t complain about it … change it.

Cath Wilcock, Wine For Dudes And your favourite business motto?
age 29 Work to live, not live to work.
hrs/wk 40+
What interests do you have outside of wine?
quals BComm
life–work awesome Um … wine tasting (!), dinner parties, reading, going to the gym,
playing tennis and going to the beach.

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BYOB_FINAL_16_12_06.indd Sec1:102 18/12/06 9:26:41 AM


Caught in
the web
It seems like everything is done on the Internet now. Surely back in
1991, Tim Berners-Lee had no idea that his invention would allow
people in the noughties to stay at home while they do banking,
shopping, socialising or even working! I haven’t left the house in two
years and I’m just fine! *Twitch* LOL.

But the Internet has been around for a relatively short time so
it’s unlikely that the private sector is using it to its full potential.
Innovation is the basis for business success, so if you can combine
new technologies with your field of expertise, you have the
opportunity to market and distribute a unique product.

William Swayne, who runs Marketing Results, is one person who


has used his knowledge of technology and marketing to create a
new Internet service, providing ways for his clients to track down
prospective leads, and unsurprisingly, most of his clients have come
from the Internet too.

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BYOB_FINAL_16_12_06.indd Sec1:103 18/12/06 9:26:44 AM


Be Your Own Boss

cv paper boy >>


William Swayne – Marketing Results
gardener >> telephone It’s been a roundabout journey to
sales consultant >> business ownership for Will. After
telephone debt collector >> graduating with a Bachelor of Arts,
direct marketer >> owner, he got a job with a Japanese direct
Marketing Results marketing company ‘more by accident
than design’.

But Will says that he enjoyed direct


marketing so much that, in the end,
the transition from employee to
entrepreneur was the most natural
thing for him to do.

q&a
What is Marketing Results?
glossary We specialise in helping businesses and independent professionals
Sales leads means: generate sales leads using the Internet. In other words, we’re Internet
marketing consultants.
– telephone enquiries or any
response to advertising that When did you first come up with your business concept?
may lead a salesperson to a
It has been a process of evolution. In my previous marketing job I
potential consumer.
learnt a lot about effective marketing methods and saw that many
businesses struggle in the marketing area. I also wanted to work for
myself rather than someone else, and marketing consulting seemed to
be an obvious option.
I started up the company in June 2003, but things weren’t exactly
plain sailing at first. I learnt that anyone can be a marketing
consultant – but it takes a really smart person to sell marketing
consulting services. I had to become more specialised and offer a
specific solution to a specific problem for a specific type of customer.
Over time, this has evolved into our current service offering, which is
helping companies generate more sales and sales leads from their
website and online marketing channels.

How hard was it to transform your business idea into


business reality?
It was pretty easy to start. All I had to do was say, ‘I’m a marketing
consultant’. But to build the systems to actually start earning
revenue took at least a year. To get them working really well has
taken another year.

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BYOB_FINAL_16_12_06.indd Sec1:104 18/12/06 9:27:14 AM


Caugh
Cau ghtt in
the
th e we b

Where there any aspects of the startup and pre-startup


process that really helped you?
When I was in startup mode, I have to admit that my planning was
pretty non-existent. So having some savings behind me was definitely
useful to tide me over the first lean year.
If I had my time again, or if I start any businesses in future, I’d
spend more time in the pre-startup phase answering the very basic
questions, like, ‘What am I going to sell? Who am I going to sell it to?
Why will they do business with me and not someone else? How will
my offerings be priced, packaged and delivered?’

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What stages did you go through before you started


your business?
I constructed a few spreadsheets showing me how much money I was
going to make, leased an office and then wondered where my next
month’s rent money was going to come from!
It wasn’t exactly the model startup – but luckily I did have some
existing relationships with contacts that led to revenue-producing
work and provided some cash flow, although not quite enough to
cover all the expenses.

Did you supply the initial business capital or did you have
outside investors?
It was 100 per cent supplied by me.

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BYOB_FINAL_16_12_06.indd Sec1:105 18/12/06 9:27:15 AM


Be Your Own Boss

As a young entrepreneur, do you think it is more difficult to


get outside funding for business ventures?
glossary I think that it probably is. Banks demand a lot of security for their
loans, so I think family is probably the best option for young
Creative equity means: entrepreneurs, or else creative equity arrangements.
– receiving equity (partial Do you think you made any mistakes along the way?
ownership) in a business in
exchange for the value you Any? There are too many to count! To name a few big ones:
add to it. Not enough planning. To some degree it’s hard to know how a
business model will end up, but I could have done more to plan things
like marketing, sales and service delivery.
Not enough systems. Lack of systems can significantly hold back
business growth. Designing simple systems for invoicing, tax, service
delivery and everything else is time well spent – this is still a work in
progress for us.
Expanding too fast. I have tended to expand our operations too fast
in a bid to get to the next level, and this has put pressure on our cash
flow. In the end, it’s better to own a smaller business turning a profit
each month than have higher revenue and less profit.

What is the worst aspect of owning your own business?


It tends to consume your whole life and you can become very single-
minded about it – you can even tie up your self-image and self-esteem
with the success or failure of the business.
Also, being a small business owner can be very stressful so you need
to consciously maintain a healthy life–work balance to deal with all
the ups and downs.

And the best?


Freedom – the freedom to make the rules and design your own destiny.
What characteristics are important for young entrepreneurs?
You have to be aware of opportunities and how to take advantage of
them. You have to be action-oriented and be able to take calculated
risks. Being an optimist is helpful, and I think it’s wise to invest in
ongoing education by reading books, attending seminars and keeping
in touch with what’s happening in your industry.
Being able to build teams and leverage the skills of others is
important. It’s not always easy, especially if you start off small and
grow organically, but it’s essential if you want to build a business and
have fun doing it.
How important is marketing?
Also, marketing is the lifeblood of business. No marketing equals no
cash flow.
Apart from one print ad, to date all our clients have come via the
Internet and client referrals. Our marketing systems are 100 per cent
‘pull’. In other words, all our enquiries are incoming – we don’t do any
cold-calling or prospecting to find new clients.

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BYOB_FINAL_16_12_06.indd Sec1:106 18/12/06 9:27:30 AM


Caugh
Cau ghtt in
the
th e we b

What advice would you give to young entrepreneurs trying to


organise their marketing strategies?
My advice would be to learn to use the Internet to do your marketing.
The Internet is a very powerful and cost-effective tool – and often it’s
based more on smarts than big budgets.
Prospecting, especially in complex sales situations, is a serious waste
of time and money. You need to position your solution so that clients
will be motivated to come to you.

How hard is it to strike a balance between life and work?


I have found it hard at times, but now I’m getting things back into
balance. I’ve accepted that it’s more important to be happy each
day than to put myself out of balance with excessive work and self- fyi
inflicted pressure.
Jay Abraham wrote Getting
Who are some of your business heroes? Everything You Can Out of All
Jay Abraham (a Californian marketing guru), Richard Branson from You’ve Got.
Virgin, Richard Koch and Paddi Lund, who is into building ‘happiness- Richard Koch is the author
centred businesses’. of The 80/20 Principle
about maximising business
efficiency.
Brisbane dentist, Paddi
Lund, built his office around
a kitchen so his patients
would smell scones instead
of surgery.

rketing
well su ited for ma
William is

Do you have a business mentor?


Yes – I have several mentors with whom I often consult, and am part of a
group of business owners who get together to discuss all things business
on a regular basis. I’m also a member of the Jay Abraham Asia–Pacific
VIP program which focuses on developing our marketing results.

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BYOB_FINAL_16_12_06.indd Sec1:107 18/12/06 9:27:31 AM


Be Your Own Boss

What are your top three business tools?


My computer – it’s absolutely essential for almost everything I do.
The Internet – it makes national and international marketing cheap
and effective.
My mobile phone – for staying in touch with clients.
It’s quite amazing – with these three tools alone, I can pretty much run
the whole business.

Is there anything you would have done differently?


I would have probably made clearer goals and plans, and
concentrated more on working smarter rather than harder.
And maybe I could have focused on offering a narrower range of more
complete service options, not on a broad range of less comprehensive
offerings.

What help have you had along the way?


The Young Network of Entrepreneurs, run in conjunction with the
University of Queensland Business School – they have big-name
business speakers and it’s FREE! If you’re serious about marketing,
you should also track down Jay Abraham’s books – they’re fantastic.

What are your business goals for the future?


In the next one to two years, I’d like to build a business that I can run
from anywhere in the world and be as hands-on – or hands-off – as I like.
By the three to five year mark, I’d like to be able to put my existing
business on autopilot and take some time out to explore new business
ideas and opportunities with greater world-changing potential.
After that, who knows? As long as I’m enjoying life and feeling like my
contribution is valuable, I’ll be happy.

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BYOB_FINAL_16_12_06.indd Sec1:108 18/12/06 9:27:48 AM


Caugh
Cau ghtt in
the
th e we b

What advice would you give to young Australians wanting to


start their own business?
Try to learn as much as you can from the experiences and mistakes
of others by reading business magazines, books and so on. Then get
some experience under your belt. Don’t wait too long – jump in and
have a go. The experience will be worth it.

What are some of the new growth industries in Australia?


There are too many to count, but one that I am interested in is online
advertising and commerce. There is a rapid shift away from print and
offline marketing to online and technology-assisted marketing. Yes,
‘offline’ marketing will always be with us, but online marketing has a
long way to go and a lot to offer.
I have also seen an increase in the demand for services generally.
Most of us have the things we need to live – the next step is to have
people perform the services we don’t want to do (such as cooking,
cleaning, beauty treatments) to free up more time and reduce stress.
I think environmental protection and management will also become
a huge industry in itself – let’s face it, we can’t go on consuming and in
disposing resources at the rate we are now. brief
Is Australia a good place to start up your own business? William Swayne,
Marketing Results
Yes. Even though our market isn’t huge, we do have a strong and
age 30
diverse economy and basic services such as phone and Internet are
hrs/wk 45
well priced, so startups can be done at low cost.
quals BArts
On the downside, though, is the raft of government red tape that you life–work 80% work, 20% life
have to attend to when running a business.

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BYOB_FINAL_16_12_06.indd Sec1:109 18/12/06 9:27:49 AM


BYOB_FINAL_16_12_06.indd Sec1:110 18/12/06 9:28:04 AM
Well, well, well!

Whether you’re a penicillin-toting cynic or a henna-marked true


believer, there’s no denying that alternative therapy is a big deal in
Australia these days. Thirty years ago, you’d have been arrested if you
tried to stick needles in people and send an electric current through
them. Now it’s called acupuncture and it pays fifty dollars an hour.

Alternative therapy has become so mainstream that even Medicare


offers coverage for acupuncture. Many private health funds offer a
wide range of alternative health plans, covering iridology, herbalism,
homeopathy, and the list goes on.

There’s more demand now for alternative therapies than ever before.
Perhaps people have stopped trusting all those little blue pills, maybe
they’ve started to recognise that it’s better to stay healthy than to
treat sickness, or maybe they just like incense – whatever the reason,
now is a good time to be offering an alternative to the local GPs and
their rubber gloves.

Marisa Camilleri is someone who’s well into the idea of wellness and
it just do happens that her business in wellness is, well, doing pretty
well as well.

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BYOB_FINAL_16_12_06.indd Sec1:111 18/12/06 9:28:04 AM


Be Your Own Boss

cv casual fast-food Marisa Camilleri – Melbourne Naturopathic


attendant >> food and Wellness Clinic
beverage attendant >>
Marisa first discovered the benefits
waitress >> naturopath
of naturopathy at the age of 16 when
>> owner, Melbourne
she consulted a naturopath about an
Naturopathic Wellness ongoing lack of energy, which turned out
Clinic to be a nutritional iron deficiency.

From that moment on, Marisa was


hooked on the idea of providing people
with the tools for better lifestyle choices,
and began researching her chosen
career. After finishing a Bachelor of
Applied Science (Naturopathy), she took
some time out to do some overseas
travelling, but before long she was back
in Australia and ready to start her own clinic.

q&a
What is the Melbourne Naturopathic Wellness Clinic?
glossary Well, it’s changing a little this year, in that there are some new
Modalities means: practitioners coming on board who specialise in different modalities.
Essentially though, we are a holistic wellness centre with a focus on
– therapist specialty, such as
naturopathy, homoeopathy improving clients’ wellbeing through natural remedies and a dietary or
and so on. lifestyle overhaul.
I mainly work with herbal remedies, specialising in educating clients on
the importance of diet and lifestyle for fitness, health and weight loss.
A lot of people want to lose weight and have a healthier life, but I’ve
found that there is a lot of misinformation in the public arena about
effective weight loss, so working with clients to improve their diet and
lifestyle is really satisfying for me because I’m teaching people how to
take care of themselves, see the big picture, and make the change to
a healthier life.

Why did you decide to start up your own clinic?


Quite honestly, I thought it was the only thing to do! I mean, the
opportunities for newly qualified naturopaths are much greater
these days; you don’t have to open your own clinic in order to make a
living. But when I qualified, that was what most naturopaths did; they
worked for themselves. And now, I don’t want to work for anyone else
– I like being my own boss too much!

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BYOB_FINAL_16_12_06.indd Sec1:112 18/12/06 9:28:12 AM


We llll , we l l , we l l!

How hard was it to transform your business idea into


business reality?
The whole process was pretty daunting actually because, while I’d
decided that I wanted to be a naturopath when I was 16 and I’d done
my degree, I didn’t know the first thing about starting up a business!
I’d heard from a friend about NEIS and I thought, ‘Well, at least it’ll
give me a bit more business knowledge and a bit more time to decide
how I’m actually going to start this thing!’
So, I enrolled in the NEIS program, and part of the course was to
write a pretty comprehensive business plan, which was really helpful
for me because that’s something that I probably wouldn’t have done
otherwise – at least, not to that extent. By the time I finished writing
my business plan I found that I was looking at the startup process and
my whole business in a different light, which is really beneficial.

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Did you supply the initial business capital or did you have
business funding?
It was all self-funded!

In hindsight, is there anything you’d change about the way


you started up your business?
The only thing I’d be tempted to change would be to have had a bit
more money behind me, whether that came from a second job or
external business backing.
The thing about starting up a business is that the actual startup is
relatively simple – it’s planning and forecasting the longevity and
profitability of the business that you really need to focus on.

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Be Your Own Boss

What is the hardest part of owning your own business?


There are no really bad parts or hard parts for me now. Sure, running
your own business has its challenges, but for me the advantages far
outweigh any possible negatives.
Maybe if you asked me five years ago when I’d just finished my degree
I would have said ‘pure frustration’. There I was – in my 20s and
I’d spent all this money on my degree and I’d built up this fantastic
ideology of running a successful business … but the phone wasn’t
ringing. I was suddenly wondering if this was such a great idea in the
first place!
Unfortunately, no magic wand in business. It takes time and
experience to start up a successful business but if you’re willing to
persevere, good things will probably start to happen.

So, what is the best part of owning your own business for you?
Where do I start – there are just so many of them!
The freedom of choice, of doing what I love and being my own boss;
I mean honestly, if I won the lottery tomorrow, I’d still want to work
in naturopathy.
My business is my baby and here I am, watching it grow and knowing
that I am making a positive and profound difference to my clients’
lives – that’s a pretty good feeling.

How important is marketing for your business?


When I started out, I didn’t realise how much of my week would be
spent on promoting the business and keeping clients coming through
the door. So, it was a bit of a shock to the system when I found myself
developing promotion strategies to increase my clientele.
As far as marketing and advertising go, neither is really useful for
me. This is largely because advertising is such a ‘cold’ market – it just
doesn’t mix with something like naturopathy, where clients spend a lot
of time talking about different personal issues and stuff.
Nowadays, I do have a lot of regular clients. I get a lot of new clients
through word-of-mouth and positive referrals, which is great because
it pushes me to keep my standards of service high and always work to
improve the clinic.

Do you have any business mentors?


Yes! That’s invaluable for me, not so much because they show me how to
do things, but because it encourages self-development and professional
development. That’s the key, I think, to succeeding in a business like
mine – to not let yourself stagnate either personally or professionally.
I think that the other positive aspect of having a mentor, particularly
when you’re a sole trader like I am, is having someone to whom you
are (in some small way) accountable to; and having someone who’s
involved but objective to bounce new ideas around with and offer an
outside view.

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We llll , we l l , we l l!

In your experience, is it difficult to run your own business and


have a life outside of work?
No, not really. I’m a big believer in practising what I preach. A lot of
my work focuses on teaching people how to look after themselves
well, which includes not burning the candle at both ends, so it would
be quite hypocritical for me to say ‘slow down’ to my clients when I’m
going three thousand miles an hour.

Are there any personal characteristics that you think are


common amongst young entrepreneurs?
Persistence and self-belief are essential, plus the desire to develop
your own skills, experience and knowledge and not indulge in self-
limiting experiences.
A positive attitude is the key: focusing on seeing yourself as a
successful businessperson rather than focusing on all the obstacles
and potential barriers.
Do you have any business heroes?
No, not really, but I do like the way Richard Branson has integrated
his business into his lifestyle (and vice versa!). You can really see with
him that his business is not ‘work’ as many people perceive it; he
seems to genuinely enjoy what he does, which I find quite inspiring.

Are you a member of any business networks?


Yes, I’m a member of a weekly goals group, which is fantastic because
we all work in different industries so sitting together and talking
about the various ups and downs broadens your perspective and lets
you look at your problems with fresh eyes.
I’m also involved with the ABN (Australian Businesswomen’s Network)
find out
and I go to a fair few networking events, but I generally find that by
the time you’ve factored in the time, effort and money involved in each
more
event it’s not a really effective way of meeting new clients. www.abn.org.au

What are your top three business tools?


I only have two, really.
Email – unless I need an urgent answer, I’ll communicate with
everyone via email.
Computer – to type up letters and reports, store heaps of information,
and generally save time and space.

What are your business goals for the future?


I plan to expand Naturopathic Wellness over the next few years and
bring some new associates on board. My goal is to grow and stabilise
the business over the next 10 to 15 years so that I’m in a good position
to move on to my next business challenge – should I choose to do so.

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Be Your Own Boss

What are some of the new growth industries in Australia?


Definitely the wellness industry. Paul van Kelver, one of the top
economic advisers in the US, has said that ‘wellness’ is going to be
the next trillion-dollar industry.
Also, online businesses – consumers are becoming more computer
literate, and more confident in the safety systems in place to stop
crooks stealing their hard-earned cash. The amazing thing about
being an online business is that you really do have a global market.

What advice would you give to aspiring business owners?


Join a program like NEIS – it’s such a well-run program that teaches
you many of the business fundamentals and can save you a lot of
time, particularly when it comes to writing your business plan.
Think about ways of reducing the initial financial stress of starting a
business by having another source of income such as a part-time job.
It will be a lot easier if you’re not absolutely desperate for money or
clients when you start out.
Don’t beat yourself up about little mistakes or even big mistakes.
Learning how to run a successful business takes time, experience and
in confidence. It’s one of the things that you don’t really know what to
brief expect or what to do until you’ve actually done it.
Marisa Camilleri, Melbourne And acknowledge (to yourself at least!) that running your business
Naturopathic Wellness Clinic
is going to be a lot about trial and error – particularly in the first few
age 30
months – regardless of how many books you’ve read or business
hrs/wk 40
courses you’ve studied.
quals B App Sci
life–work good Lastly, be passionate! Your passion is what will make you persist and
persevere, even when it seems that all the chips are down.

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BYOB_FINAL_16_12_06.indd Sec1:116 18/12/06 9:28:20 AM


Sock it to ’em
Remember how people used to spend their money on their friends and
family? Then they started lavishing gifts on their pets, giving them the
latest doggy hair-dos and overcoats that don’t stay on for more than
10 minutes. Now people buy gifts for their electronic appliances.

Personal technologies like mobile phones, mp3 players and laptops


have become ubiquitous (and they’re everywhere too). Plenty of
people have made their fortunes by developing and distributing these
gizmos, but there are always lots of other business opportunities
surrounding such a booming market.

People spend a lot of money on their gadgets, so they think nothing


of spending a few extra dollars on accessories. Plenty of people
have made their fortunes by targeting these spare bucks. Right now,
someone, somewhere, is reclining by a champagne-filled pool thanks
to Don’t Worry Be Happy mousepads.

And if you’ve ever wanted to dress up your mobile phone, rest


assured, there’s a product out there for you – a product like Mocks.

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BYOB_FINAL_16_12_06.indd Sec1:117 18/12/06 9:28:24 AM


Be Your Own Boss

cv stable hand/horse
Lara Fletcher – LaRoo
riding teacher >> waitress Growing up in a small business
>> graduate marketing environment (her father owned and
trainee >> office temp >> managed retail stores), Lara says that
brand manager >> owner, she always planned to start her own
LaRoo business; the biggest challenge for her
was to find the right product!

Holidaying in Thailand, Lara stumbled


upon a concept that she believed could
be the right product for her business.
After nearly a year of business research,
planning and preparation, LaRoo started trading in August 2004.

q&a
What is LaRoo?
We design, sell and market Mocks (mobile phone socks), a type of
cover that helps protect your mobile from getting scratched and at the
same time lets you personalise it.
We have recently launched iMocks, which are basically the same, but
for MP3 players.

When did you first come up with the concept of Mocks?


I was on holiday in Thailand in September 2003 and I saw a similar
product being sold, but the overall quality was poor and there was
no consistency or branding between the products. When I came back
to Australia I started thinking about how I could provide the same
concept but with a higher quality and solid corporate branding.

How hard was it to transform your idea into a reality?


It was difficult. Mocks were a whole new concept in mobile phone
covers, and a lot of people didn’t understand it, which of course
makes it harder to convince them to buy it, particularly at first!
It was also quite a challenge to find a manufacturer that could
produce the designs at a reasonable cost at high quality.

What stages did you go through before starting LaRoo?


I did a lot of research into business competitors, manufacturers, target
audiences, and potential products and designs.
To make sure that my business plans were on track I did some market
research amongst the target audience that focused on the actual
product and the designs for the product.
I also spent quite a lot of time writing a comprehensive business plan
that factored in all aspects of the business.

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BYOB_FINAL_16_12_06.indd Sec1:118 18/12/06 9:28:35 AM


S oc k it to ’e m

What was the most important aspect of the startup process


for you?
Definitely writing the business plan. This makes you look at the big
picture and explore a lot of avenues that you might otherwise overlook.

How did you supply the initial business capital?


I had an investor who supplied $24 000 as startup capital.

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ocks.co
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Is it more difficult to get outside funding when you’re young? glossary


Yes, because you have no equity to use to get the funding. My investor Equity means:
was my Dad, but I think it would have been exceptionally hard for me
– the cash value of your
to get funding from anywhere else. assets, such as your home,
which banks or investors
How important is marketing for LaRoo?
can use as leverage if they
Very important! Brand recognition and brand familiarity drive the need to squeeze money out
business and make it successful. of you later.
I’m fortunate that I have a sound background in marketing, so
developing a good branding strategy and marketing Mocks to the
right people was a priority for me from day one.
Generally, I use a combination of print media, word of mouth
(customer referrals) and the Internet because these mediums allow
my target audience to interact with the brand through competitions,
emails and personal attention.

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Be Your Own Boss

Do you think you made any mistakes along the way?


Yes. Not having a backup manufacturer! Funny, but it didn’t seem
important until I had supply issues!
Also, I started off giving some stores too much of an upfront discount,
which they now expect as a standard.

In hindsight, is there anything you would have done


differently?
Yes, two things, I think.
I would have joined a networking group earlier (I joined the Australian
Businesswomen’s Network in November 2004), because I’ve realised
that I do get a lot from interacting with people in similar situations.
I would have also got my lawyers involved much earlier in the process
to help assess my business in terms of risks.

What are your business goals for the future?


In the next year I plan to launch in the United States, increase the
number of Australian retailers from 450 to 800, and increase the
number of retailers in England from 350 to 1000.
By the end of 10 years, my goal is to have offices in New York, London
and Sydney and turn over $100 million a year with five brands.

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S oc k it to ’e m

How hard is it to for you to create a good life–work balance?


It’s hard, because I love what I do, and I enjoy spending time on the
business. I have no idea where all the hours go!
But on the other hand, I know that if I work long hours I will get
too tired to do anything else, which pretty much guarantees a poor
life–work balance. So I try to make sure that I switch myself off from
work and enjoy the time I spend with my husband and friends.

Are there any characteristics and skills that you think young
entrepreneurs need to succeed?
To succeed in business, you need to be a good communicator and to
build a long-lasting rapport with your clients, suppliers and colleagues.
You also need to be passionate about what you’re doing, and driven to
succeed, because owning your own business isn’t always going to be
a bed of roses.
It helps if you are willing to forgo your own ego and ask for help and
advice because you can’t know everything about creating a successful
business – no-one can. But if you don’t ask questions when you’re
unsure, you could end up making some very costly mistakes.
In terms of skills, I think having a sound grasp of general business
skills such as communication, number-crunching, and knowledge of
the different things that make the business run are all very important.
I think that experience in working for someone else is very beneficial,
so that you will know how you don’t want to do it!

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Be Your Own Boss

What is the hardest part of owning your own business?


For me, it’s not having other people working with you on a daily basis,
not because I don’t like working solo, but because I don’t have the
opportunity to bounce new ideas around with someone who’s involved
in the business at the same level as I am.

And the good part?


The freedom of making the decisions and running the business the
way that I want to; and the feeling of self-achievement I get when I see
the business being successful.

Who are some of your business heroes?


Janine Allis, the founder of Boost Juice, and ‘Tall’ Tim Pethick, the
founder of Nudie Juices.

Do you have a business mentor?


Yes, my dad. He ran his own retail business for 25 years (he’s retired
now) and just being able to ask his advice and bounce new ideas off
him is really invaluable for me.

What are your top three business tools?


My laptop – for when I travel or want to work at home (like right now!).
My mobile – so that my customers can always keep in touch (this was
particularly relevant when I was working from home, because I didn’t
want to give out my home number for obvious reasons!).
Email is the third – because you can keep in touch with people around
the world, and be cost-effective!

Are there any business networks, resources or support


organisations that you have found particularly useful?
I read My Business magazine every month, it’s fantastic! There are
some great tips on running a business in there.
The Australian Businesswomen’s Network (ABN) – because it enables
me to meet and talk to people who are going through or have been
through the same experiences as I have. Being part of the ABN is
fantastic because it is a great support network, and the members
there are really happy to celebrate each other’s wins.
All the Women in Business courses run by the government – they’re
free (which is great!) – and you learn so much about the topics as
well as having more opportunities to network and interact with other
businesswomen.

Do you think Australia is a good place to start up your own


business?
Yes, because even though it is a small market, we have a healthy
economy and if people want to support you they’ll give you a go.
Even when you look at the media, good media coverage is much more
accessible to entrepreneurs here in Australia than in larger markets
such as the UK.

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S oc k it to ’e m

What advice would you give to young Australians wanting to


start their own business?
Research your business ideas thoroughly, particularly when it comes
to set-up costs, and be realistic about any potential costs and how
long it will take to actually get the business started.
Be prepared to reinvest your earnings back into the business for the
in
first few months (at least), so that you have a more solid financial
base. I reinvested everything in the business for the first six months
brief
Lara Fletcher, LaRoo
that I was trading, which means that I didn’t get paid for six months,
age 31
but I figured that it was short-term pain for long-term gain.
hrs/wk 60ish
Get advice from people around you and talk to as many family quals BSc (Hons) in
members, friends (and even strangers!) as you can. People love helping Business
start up businesses, especially if you are enthusiastic and excited life–work up and down, but
generally good!
about what you’re doing and show that you are willing to learn.

M o n–F
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• 6.00 p p ro du c
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S at–S u
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• Re ad

• B ox

• Wa lk
o n the
b e a c h/
sw im
• S o c ia
lise w it
h f r ie n d
s

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BYOB_FINAL_16_12_06.indd Sec1:124 18/12/06 9:28:49 AM
© Barry Alsop / Eyes Wide Open Images
Get into gear
Like seeing finely toned athletes in lycra? (Who doesn’t?) Or maybe
you’re the supporter with the full regalia when barracking for your
team. Every team (and supporter) in every club in every sport in
Australia has a sports outfit that identifies them with their particular
club.

But who makes these? Enterprising men and women, that’s who. And
it’s not just about choosing between cotton and polyester. In fact, it’s
quite a hi-tech industry – with innovations in design, manufacturing
and new fabric development.

Codewear, is one new company that has taken a hi-tech approach to


make sporting gear for just about every code of sport you can think
of. Whether on the field, court, green or pitch, in the pool, paddock or
dust pit, people are getting into some good gear.

But what’s it like to gear up in a new business? Getting going in a


startup is much like an athlete’s training: it takes time, dedication and
persistence.

Is all the hard work, sweat and tears worth it? Ben Beard from
Codewear knows what its like to take a business from startup to
finely-tuned operation, lycra or no lycra.

Want more quality career resources


from Career FAQs for FREE? Click here 125

BYOB_FINAL_16_12_06.indd Sec1:125 18/12/06 12:06:23 PM


Be Your Own Boss

cv garden nursery
assistant >> pizza deliverer
Ben Beard – Codewear
>> dye house manager
>> sales representative >> At 32, Ben has realised his childhood
state sales manager >> dream of running his own business. But,
equity partner and manager by his own admission, it involved a lot
>> managing director, more than dreaming.
Codewear. As with many young Australians, Ben
took a gap year after school and worked
in a garden nursery and in a pizza shop
at night. He resisted the temptation to
go into partnership in the pizza shop
and returned to education, completing a Bachelor of Marketing
Communications at Bond University on the Gold Coast.

His first job after university was as the Dye House Manager
for a tannery in Queensland which gave him some grass-roots
manufacturing experience. After a stint in sales, he joined Arnott’s
and in short time was made State Sales Manager of Campbell’s Soups
(Division of Arnott’s). But the dream was always to own his own
glossary
business so it was off to Adelaide as an equity partner in a combined
Sublimation means: tannery, sports sublimation business. Then came the realisation of his
– a form of printing that dream, Codewear.
uses a heating process to
vapourise the dyes so that Ben is married to Lou. They have two young children, Charlie and
they permeate the fabric Ruby, and live in their hometown, Brisbane. ‘Family is what life is all
or other surface.
about. The business is the means. I never forget that.’

q&a
What’s your professional background?
I come from a sales and marketing background. I studied a business
degree that specialised in marketing communications at university,
but I wasn’t too interested in marketing. While at uni, I knew that I
would start up my own business eventually, so I basically used uni as
a starting point to get a job. After uni, I was involved in manufacturing
to start with, and then I realised I needed sales experience so found
a job that would give me that. Everything has evolved around getting
enough experience to start my own business.

Have you always wanted to run your own business?


Yes, from when I was about 12. I was and am a keen sportsperson
playing rugby, cricket and Aussie rules at school and golf which I still

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BYOB_FINAL_16_12_06.indd Sec1:126 18/12/06 9:28:55 AM


Ge
ett in to ge a
arr

play when I can. So I always thought that my future business would


have something to do with sport and that’s the way it has turned out.

What is Codewear? What do you do?


Codewear is a sublimation printing business which specialises in
making high performance sports apparel, for the likes of the AFL, NRL,
netball, swimming, cycling, hockey and other sporting codes. About
70 per cent of the business is the high performance sportswear. We do
this for clubs and teams Australia-wide.
In addition to that, we manufacture banners, stubby coolers, bar mats
and mouse mats – anything really – using the same process.

How did you come up with the concept for Codewear?


In 2002, Lou, my wife, and I moved from Brisbane to Adelaide to take
up a small percentage of ownership in two businesses. One was a
tannery and the other was a sublimation sports manufacturer. When I
started they had a combined turnover of about five million. When I left
after three years, they had a combined turnover of about 30 million.
But then they decided to buy their shares back, and I realised that
there was no point in working for someone else. I had a passion for
the clothing side of the business so I took the money that they offered
and started writing a business plan.

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What’s involved in writing a business plan?


I was very fortunate because I was referred to a good accountancy
firm. Over a three- to four-month period, we developed a written
business plan, which was about 60 to 70 pages, and a financial
business plan which was about 100 spreadsheet pages. In terms of
cost, we spent $20 000 on that business plan.
There’s a lot of pulling things out of thin air and going with your
gut instinct.

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Be Your Own Boss

So what’s the process of writing a business plan?


I knew that I didn’t have enough capital so the first part of the
business plan was to find a business partner who would provide funds
to assist in the development of the business. That was the first priority
– basically to find a financial backer. Once that was established, we
pretty much allocated all of the capital that we could raise for things
like registering the business, developing a website, purchasing
machinery, purchasing stock to start manufacturing, employing
people so we could literally start creating products. After that, getting
people to actually go out and buy your stock obviously is paramount
to the whole project. But you can’t do any selling or manufacturing
until you’ve got all the initial pillars in place.

talogue
ns from a Codewear ca
Sp orting desig

How long did it take to get those pillars together?


The plan was that we’d formalise the business in April 2005 and we’d
have the machines in place to start manufacturing in July, but it didn’t
occur until December. So it was basically a six-month burning of cash
because we could not produce orders during that period. It’s one
of the hardest things to manage with a startup business: there is a
period when money goes out and nothing comes in. Managing that

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Ge
ett in to ge a
arr

process and holding your nerve is essential. Knowing you have a great
product that people want helps.

What’s been the best part about starting your own business?
There’s nothing enjoyable about starting your own business. It is the
hardest two years that I’ve ever experienced. But you always look
to the big picture where long term, hopefully we’ll have a lot more
financial freedom than we could possibly have working for someone
else. We also have a lot more flexibility in our hours, my wife and I. So
it gives us more time to spend with the kids and each other. And that
was the big attraction for me of owning our own business – if you can
get it right, it gives you the opportunity to have more freedom in your
decisions and the life that you want to live.

What’s your life–work balance?


It’s pretty flexible because I’m my own boss but the hours are still
high. I’ve set up ways that I can do work from home, so the rest of
the family tend to get up at seven o’clock but I’m up normally up at
5.30 and I tend to work through until they wake up. This allows me to
devote this time to family.
I leave at eight for the office and get home at six at the latest so that
I can be there for dinner and bathing and putting kids to bed. But I
sometimes do more work after they’ve all gone to bed.

When starting out a business, do you go through a period of


making a loss?
We planned in our first year to make a loss, and that’s what happened.
We banked on losing $200 000 in the first 12 months and making a
profit in the second year. Thereafter, once you get through year two,
you should keep making a profit. In fact, that’s the main game, ’cause
if you ain’t making a profit, you haven’t got a business – you’ve got a
very expensive hobby.

Do you earn much while starting out?


In the first two years, our salaries were substantially lower than if we
were working for other people. But this is why the business plan is so
important, because you cannot live for two years without income.
In the business plan, we worked out how money was required so
my wife and I could draw a salary for the first two years. If we didn’t
do that, we couldn’t survive, our business wouldn’t survive and the
relationship would no doubt suffer. Starting a business that put
our relationship at risk was not an option. It was essential that the
business plan had provisions for us to live a reasonably comfortable
life.

How many people do you employ?


I have 10 staff at the moment. I can’t see the number of direct
employees increasing dramatically but the number of sub-contractors
and distributors will. The key is to find ways of rapidly growing

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BYOB_FINAL_16_12_06.indd Sec1:129 18/12/06 12:06:35 PM


Be Your Own Boss

the business without having dramatic increases in your overhead


structure. IT plays a huge part here.

What are the most important aspects of your business?


By far and away the most important part of the business is its own
people. Next to that, getting good clients, a good accountancy firm
and a good legal firm is important also.

large ...
Making the

Is it difficult to find the right people for your business?


It’s extraordinarily difficult. It’s the most important part of the
business and it’s the hardest part of the business. When you’re
starting out a new business, you have to find ways to pay what people
are worth but also to keep your costs to a minimum. So it really comes
down to finding people who are not happy in their current work and/
or those who have strong potential long term, who you can work with
and who are happy to be rewarded down the track as the business
grows.
And it’s tough because there are many people who can interview
better than their performance would indicate in a work environment
– where their talk does not meet the practical reality that you hoped
for. Then there are people who do the opposite, where there work is
exceptional and you know it’s all worthwhile.

How did you go about building up a client base?


Our whole goal is to make our clients’ life easier so they’ll want to do
business with us.

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BYOB_FINAL_16_12_06.indd Sec1:130 18/12/06 9:29:04 AM


Ge
ett in to ge a
arr

The best way to get clients in business is through referrals but also to be
able to present your company professionally. We spent a lot of money
on design, on company profiles, and presentation pitching to clients.
I’ve worked in the business now for some time, and know many
people in every sector. I have established good working relationships
with many people who trust me and know that I deliver quality
products on time.

How much legal stuff is involved in running your business?


It shouldn’t be a big part, but for us, we spent $70 000 in the first year
on legal fees that we didn’t budget for because the company I used
to work for tried to stop me setting up the business. But generally,
if you find the right legal firm, it does make a massive difference to
setting up your structures properly from the start. And also getting
all your contracts right with your clients and your HR contracts with
employees. And we were very fortunate that we had a referral to a very
good law firm (as was the case with our accountancy firm).

small
... and the

What are your work hours like?


I work about 12 hours a day. One of the downsides of owning your own
business is that you can never get away from the business. Even when
you go away on holiday, you still have to work about five or six hours a
day. But hopefully long term, that can change. But you look ahead and
hope that you can have that financial freedom so that you can have
a holiday house where the kids can play at the beach and your office
can be right next to it.

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Be Your Own Boss

So how do you keep in touch when you’re not at your desk?


Ah, the delights of modern technology! The Internet is a godsend. I
have remote access on my laptop and a mobile phone. I sometimes
think it’s perhaps all you need to run a million-dollar business. I’m
sure there’s someone out there living in some exotic location and
that’s all they have.

What are your goals for the future?


The goal of the business is for us, as a family, to be generating a
in million dollars after tax every year.
brief What’s your life motto?
Ben Beard, Codewear
My life’s all about my family to tell you the truth. In all honesty, I don’t
age 32 want to work too hard. I just want to enjoy my time with family and
hrs/wk 60 friends.
quals BBus, marketing
communication What advice would you give to someone considering setting
flexibility Very important to me up their own business?
life–work Flexible
Hold your nerve and never lose sight of the big picture. Create
something that ensures you always stand out from your competitors.

5.30 W
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in e s s

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Home work
Anyone working in industrial design or other creative industries
will know that ‘sustainable design’ are the words on everyone’s lips
right now. With social inequality and global warming growing in
the public’s awareness, there’s a strong push towards socially and
environmentally sound design.

Rethinking traditional design techniques – how to produce things


more cheaply, more efficiently and at a lower cost to the environment
– requires real innovation and it can be challenging to turn people
around to your way of doing things.

You need to be confident in your ideals, thorough in your planning and


strong-willed and persistent in your actions to make this happen. But
the rewards are great – you’re contributing to a better way of doing
things and lightening the footprint we leave behind.

Sarah Bickford tells how she and her husband, Paul Lucas, have found
ways to make homes work for people and the environment.

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BYOB_FINAL_16_12_06.indd Sec1:133 18/12/06 9:29:16 AM


Be Your Own Boss

cv casual shop Sarah Bickford – Modabode


assistant >> casual bar
Sarah trained as an architect in
attendant >> assistant
Edinburgh before moving to London
architect >> project to work as a project architect on a
architect >> co-founder, number of social housing projects. In
Modabode this role she was involved in generating
low-cost regeneration solutions for
various run-down London housing
estates and improving the quality of
life for their residents.

She met her partner Paul Lucas (also an


architect) while working in London, and
when the opportunity came up to move to Australia, Paul and Sarah
took the plunge to create a new life – and business – for themselves
downunder.

q&a
When did you first come up with the concept of Modabode?
In England a few years ago the government was offering incentives to
architects who could come up with more innovative and effective ways
glossary of building houses.
At the time, the concept of quality pre-fabrication was generating a
Pre-fabrication means: lot of publicity and interest. Pre-fabrication reduces the costs, hassle
– manufacturing parts in and time involved with building and renovating, but traditionally pre-
one location, ready to be fabricated houses are quite dull and uninteresting.
assembled in another.
The idea behind Modabode is to provide an affordable and eco-
friendly housing solution that is also practical and attractive.
Paul and I looked into the business and thought that Australia could
be a great place for this product because it is still fairly easy to buy a
block of land in the bush or on the coast and erect a simple weekender
or holiday home. In the UK and other parts of Europe building land
is almost non-existent and planning rules are very restrictive. It’s
extremely unusual to build a home from scratch – most new houses
and flats are bought from developers.
So then it was basically a matter of trying to tap into this new
business and seeing how we went!

Why did you want to start up your own business?


There were a couple of reasons. We both wanted to do something
different from working nine to five in an office; I guess we wanted to
be involved in something more creative and more interesting than we
would in a ‘normal’ architect’s job.

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Ho m e work
Hom wo rk

Also, architects usually provide a service (for example, consultancy),


but with Modabode we wanted to provide a tangible product that
we could sell as a whole which we thought would be commercially
sustainable and profitable.

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to say a
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How did you get started?


When we first arrived in Sydney, we designed our first pre-fab housing
product which we called the e-BODE. We built a simple website and
then sent out some press releases which were picked up by our local
paper, the Manly Daily, and the Sydney Morning Herald. It was all
quite exciting really – we’d only been in Australia for about three
months when we got our first double-page feature spread!
Then we spotted an article in the paper where a government architect
was talking about the ‘Houses of the Future’ project.
So we sent him a copy of our press release and asked him whether
there was any chance we could be involved. The next thing we knew,
we were having meetings with him and talking about the e-BODE fyi
– and then suddenly, we were in! It was a really lucky break for us.
The Houses of the
And you built an E-BODE specially for the project? Future project was a
We were able to build a prototype e-BODE very quickly with the help government initiative of
the 2004 Year of the Built
of several industry sponsors. The e-BODE was displayed on the Opera
Environment program.
House forecourt for a few weeks in October 2004 before spending
nine months on display at the Sydney Olympic Park.

So getting publicity has been relatively easy for you?


That’s right. The hardest part has been to organise the production.

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Be Your Own Boss

tion!
location, location, loca
a House forecourt -
On the Oper

How did you handle the production of the e-BODE.


We spent more than a year trying to find factories and builders who
could work with us to produce it. It was a tough sell because the
building industry is very busy at the moment and the e-BODE is a little
bit outside the norm, so trying to convince a business that they should
break away from tradition and take a chance on us turned out to be
quite difficult.
It is a complicated product to produce – that’s the downside.
Sometimes I wish it were a paperclip or something!

How important is marketing for your business to succeed?


It hasn’t been that important for us because we have had such a
steady stream of press articles and free publicity. At the moment, our
marketing is limited to our website and a newsletter that we send to
people on our mailing list.
But now that we are ready to manufacture the units, it’s getting time
to start putting some more focused adverts out there and marketing
the product a bit more.

Did you supply the initial business capital for Modabode?


In terms of setting up Modabode we have funded everything, although
we did have sponsors assisting with the construction costs with the
e-BODE prototype for House of the Future exhibition.

What are your business goals for the future?


Ideally, we’d like to turn Modabode into a company that runs away
with itself!

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BYOB_FINAL_16_12_06.indd Sec1:136 18/12/06 9:29:28 AM


Ho m e work
Hom wo rk

We’d like to be able to employ people to take on the production


aspect of the business, which would leave Paul and I more time to
concentrate on the design side of things.
We’ve also bought a block of land in the Hunter Valley and moved
the prototype there, and we have planning permission to develop a
few more units on the block as well. This way we can use it both as a
display centre for Modabode and a holiday rental property.

Is there anything you would have done differently?


It would have been nice to avoid the circuitous route that we took to
find our manufacturer but, of course, we wouldn’t and couldn’t have
done that without the knowledge we have now. Overall, it hasn’t been
a perfect process, but it has worked.

Cool design

What is the hardest aspect of owning your own business?


For us, it’s definitely been the dramatic highs and lows. We’ve had so
much publicity and attention but haven’t been able to really convert
the interest into income which is annoying.

And the best?


Moments like October 2004, when we saw the e-BODE standing on
the Opera House forecourt.

How hard is it to strike a balance between your life and work?


At the moment it’s up and down as Modabode is still finding its feet.
At times, we have worked very hard, but there have been periods
when not much has happened and we have taken on other jobs to fill
the gap. Hopefully that’ll change in the near future!

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Be Your Own Boss

What is your most essential business tool?


Definitely my mobile phone.

Are there any business networks that you have found


particularly useful?
We went to a business enterprise centre just after we arrived in
Australia, but because of the scale of our product and the actual
product itself, which is the first of its kind here in Australia, it wasn’t
really that helpful.

Bode.
bodes wel l for the e-
Everything
What characteristics do successful entrepreneurs need?
You have to be quite patient, flexible, able to mix and match projects
to fill in time and money as needed. You also need to be resourceful,
resilient and proactive.

Do you think that Australia is a good place to start up your


own business?
in In our experience, it’s been both good and bad. That Paul and I could
brief turn up as new immigrants and get the publicity we did so quickly
Sarah Bickford, Modabode
was amazing. Certainly, Australians are used to trying new ideas and
giving things a go, which is a great characteristic. We’ve benefited
age 32
hrs/wk differs a lot, but
from that a lot.
averaging 40 On the other hand, there has been a bit more of a delay than we’re
quals Dip Architecture; MA used to when dealing with companies, trying to get quotes and get
(Hons) Architecture
the production up and running. That slightly laid-back attitude can
life–work really good
throw your schedule out a lot, particularly if you’re not used to it.

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Taking the plunge

One of the most important things to consider in any business is


working out who’s going to want your stuff. You might call it your
‘target audience’ – and make sure you keep that analogy in mind. If
you’ve got a bow and arrow in your hands, you really should know
what you’re supposed to be aiming at, right? For everyone’s safety,
really.

It’s all about marketing. If you’re selling a new action figure plaything
– the Robotronomatic 3000 with infrared laser and spring-loaded
missile launcher action – you won’t make much money marketing
it to fifty-to-sixty-year-olds. By the same token, if you’re selling
health products – Wrinkles Away 3000 with anti-ageing, skin-firming
collagen-boosters – it’s not much good marketing it to schoolkids,
unless it also has spring-loaded missile launcher action!

There are all sorts of demographics – it could come down to age,


class, gender or even geography – and they all come with their own
unique set of needs. The success of every business depends on how
well the business accommodates and caters to those needs, and
marketing consultants help them hit that bullseye every time.

Amanda Stevens knew exactly who her audience was. She’d done the
research and decided there was an opportunity to build a company
specialising in marketing to women.

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Be Your Own Boss

cv Amanda Stevens – Splash Consulting Group


marketing manager >>
Amanda studied a double degree in
freelance marketing advertising and marketing, and spent
consultant >> owner, the last year of her degree working
Splash Consulting Group and studying full-time. By the time
she finished her degree, she’d been
promoted to a middle-management
position.

After graduating Amanda was offered


a contract position with a Sydney firm
and left her hometown of Brisbane with
the intention of working in Sydney for a few years. However, Amanda
found that even though she was working as a full-time contractor, she
was also working as a full-time freelancer for many of her previous
clients. The solution? At age 21, Amanda started her own marketing
consultancy, Splash.

q&a
What is Splash Consulting Group?
Initially, it was a mixture of direct marketing, brochures and PR with
quite small clients, but the business has changed a lot in the past
11 years. As it grew in size, we started offering a broader range of
marketing and attracting some bigger clients. It got to a point in 2000
where we had grown so much that we couldn’t really go on with that
glossary rate of growth without offering some kind of specialisation.
So I spent about six months looking at the option of vertical
Vertical specialisation means: specialisation, but the problem for me was that I thought it could get
– concentrating on just one quite boring just working with one industry.
facet of an industry.
After a lot of research, I relaunched Splash in 2001 as She-Marketing
consultants.

How did you first come up with the concept of She-Marketing?


I’ve always had a fascination with neurology and how the brain works
and I’d been reading about gender neurology. One day when I was
trying to decide the future of Splash, I just had this blinding epiphany
that I could specialise in marketing for women.
There had been a lot of media focus on the growing purchasing power
of women and it just so happened that at the time we were working on
a few campaigns targeted at women.

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BYOB_FINAL_16_12_06.indd Sec1:140 18/12/06 9:29:50 AM


Ta k ing
Tak in g tth
hee pl un ge

What steps did you go through before relaunching Splash as


She-Marketing Consultants in 2001?
First we looked at who was doing it (marketing to women) in Australia
– and there was nobody, so we commissioned a research study from
the neurological research team at the University of Indiana that
focused on the neurological differences between males and females
when responding to marketing drives and impulses.
Then we worked with the same research team to develop the actual
methodology behind She-Marketing. The end result is basically a
fusion between science and marketing, which is something that has
never been done before.

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Was it difficult to transform your business idea into


business reality?
It really came down to having a clear vision about what She-Marketing
was going to be, and that’s why we invested so much time and money
into the initial research.
We knew that if we were going to relaunch into the market saying
‘We know how to market to women’, we would have to have a lot of
substance and proof behind the words because we didn’t have the
case studies or work experience behind us. We decided that the most
credible way to prove the methodology was to have the scientific
research to back it up.
It was a smart step, because we have been able to retain that
scientific aspect to our work and clients can see real value for them in
utilising our expertise.

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Be Your Own Boss

How does it feel to be known as a pioneer in your field?


When we first relaunched we had a lot of knockers, particularly within
our industry, who were saying, ‘Oh, it’s just a fad, just watch, they’ll
move on to the next big thing … ’ But the fact that we’ve been here for
five years now has proved that we’re here to stay. The work that we’re
doing now is very much recognised as an important part of the mix.

Do you think you made any mistakes along the way?


Heaps of mistakes, and big ones! I make mistakes every day and
everyone in business does because there is no manual for how to run
a successful business. Obviously there are books that you can read
and you can learn from other people but when it comes down to it, it’s
really about doing it, trying new things, as long as you don’t make the
same mistake twice.
The best thing about mistakes is that they help you realise what
your strengths are as an entrepreneur. If I had to choose my biggest
mistake, it would be trying to do everything for too long, even if I
wasn’t good at it.
Did you supply the initial business capital?
It’s been pretty much all self-funded, even the research, which in
retrospect may not have been the best option because it put a lot of
financial strain on the business, but it was something that I really
believed in and we achieved what we wanted in the end.

As a young entrepreneur, do you think it is more difficult to


get outside funding for business ventures?
Definitely, though I do think that’s changing. You’ve got to remember
that it was only a generation ago that women couldn’t walk into a
bank and get a loan without having a father or husband to act as a
guarantor. So we’ve come a long way in short time.
In terms of age, I think that the smart banks and lending institutions
are realising that there are some very real and credible entrepreneurs
out there who, while they may not have 10 or 20 years of work
experience behind them, do have great ideas and a lot of potential.
Basically, the smart lending institutions are learning that they should
base their decisions on the commercial viability of the ideas rather
than the age of the brain behind them.

What are some of your business goals for the future?


I sold half of the business last year to an investor, so we are now on a
pretty aggressive growth strategy. The next step for us will be to open
another office in either Auckland or Singapore and, after that, in the
United States.

What is the hardest aspect of owning your own business?


In a sense, I have 15 mouths (other than mine) to feed. I sometimes
wake up in the morning and think about everything I have to do that
day. While that’s part of the buzz, it would be really nice just to be able
to take a sickie or go overseas for six weeks and feel okay about it.

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BYOB_FINAL_16_12_06.indd Sec1:142 18/12/06 9:29:54 AM


Ta k ing
Tak in g tth
hee pl un ge

And the best?


Having the freedom and the choice to run the business as I want;
coming to work each day and creating something; knowing that we’re
growing and that the business is on track; the buzz I get walking
through the door of Splash each morning and working with the
incredible team I have – I really am very lucky.

How hard is it to strike a balance between your work and


your life?
My life–work balance would be considered by most people to be
absolutely horrific, but the whole concept of balance is about making
it work for the individual. I’ve seen the charts that say you should
spend x amount of hours at work, or sleeping, or relaxing, or whatever
and that’s not my idea of balance. If I followed those charts, I wouldn’t
be happy.
I think that people get too caught up in what they should be doing to
achieve this so-called ‘balance’ when in fact they should just be doing
what makes them happy.

What characteristics do you need as an entrepreneur?


You need to be creative, and not just in terms of creating something,
but creative in your thinking and the way you solve problems.
You have to be extremely persistent, particularly when you’re starting
out because you do get a lot of knock-backs and disappointments and
you need to be able to bounce back and get back on track.

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Be Your Own Boss

I think successful entrepreneurs are the ones who haven’t given up,
who’ve been knocked down but got back up.

What is your most effective form of marketing?


Definitely word-of-mouth. I think most successful businesses generate
a lot of their business word of mouth by default, but if you can really
harness that by offering incentives and rewards, particularly if you
have a predominantly female audience, it will be both very
cost-effective and effective.
Who are some of your business heroes?
I really admire people like John Singleton, OA, founder of STW Group
(a media, advertising and communications company) and my investor,
the founder of Drake Worldwide, is a real mentor of mine which
is great because he’s got such an enormous amount of business
experience and his strengths complement mine really well.

Do you have a formal business mentor?


I have a mentor in the US who’s doing very similar stuff to us. She is
basically the pioneer of marketing to women in the US, and we keep
in regular contact by phone and organise ‘field trips’ to see how we’re
both going.

How important are business networks and mentors for you?


They’re critical, even if I don’t think I do it enough all of the time.
When you’re an entrepreneur and you’re at the helm of the company,
it can be easy to get too involved in something, so the input of an
outsider helps you because they see things you don’t and give you a
different perspective on whatever’s going on.

What are your most important business tools?


Well, I’m having an affair with my laptop, does that count?
No, seriously though, anything that makes my life easier and gets
me more organised is a good thing for me: my laptop, a mobile that
doubles as an electronic organiser and receives emails.

What advice would you give to any young Australians


wanting to start their own business?
Know what your weaknesses are and surround yourself with people
who can complement your strengths.

What are some of the new growth industries in Australia?


in Any new technologies that make life easier or more organised – like
brief the iPod and other technologies that converge applications, such as
Amanda Stevens, Splash phone organisers – will be popular, I think. People are looking for
Consulting Group ways to make life simpler again.
age 32
What other interests do you have?
hrs/wk 50–80
quals B Bus Comm Outside of work, some of my hobbies and interests are going to the
life–work really good gym, going to the beach, surfing, staying fit and healthy, and being
with my family, friends and two cats.

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BYOB_FINAL_16_12_06.indd Sec1:144 18/12/06 9:29:57 AM


Rugrats
Do you work to live? Or do you live to work? Sometimes it can be
difficult to get the right balance. You could be really successful in your
job, but never see your family. Or you could have no job at all, and see
your family far too much.

There are some entrepreneurs, however, that have found the right
balance. No, they didn’t take their families on the road as a travelling
band. These entrepreneurs work from home. Yes, that’s right – staying
in your pyjama pants all day, as many nap breaks as you need, and
no-one to interrupt you at business meetings … what’s not appealing
about that? Not to mention lower costs and a more relaxed work
environment.

Working under your own roof means working under your own
management and on your own terms. Which is great!

Anita Gleeson’s business idea came from being at home with her
young son – so it was sort of fitting that the business itself stayed
there.

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Be Your Own Boss

cv sales assistant Anita Gleeson – BugRugs


>> office administration
When Anita was planning to decorate
assistant >> media her young son’s bedroom three years
assistant, newspapers >> ago, she realised that she needed a
graphic designer >> owner, rug to cover the wooden floorboards
BugRugs in his room. But on searching for an
appropriate rug she was stumped.

Seeing a great opportunity, she started


BugRugs, designing quality rugs
specifically for children’s rooms. She
found that running her own business
was her dream job and allowed her to
work as much or as little as she could, as a mother of young children.
The rugs are sold in retail outlets as well as through the website, and
the company now turns over more than $100K a year.

q&a
Where did the idea come from?
The original idea came from necessity, really. I had a two-year-old with
a wooden floor in his bedroom. I couldn’t find a rug to put on his floor,
and I realised that this was a big gap in the market, that high quality
children’s rugs were not available.

What makes BugRugs rugs different from other rugs?


Most children’s floor rugs are made from cheap nylon. They are
ugly and uncomfortable. BugRugs offer high quality construction,
fun design and themes that compliment other popular children’s
decorator items.

What’s your professional background?


detour I studied graphic design, and while that has helped me out with the
designing side of the work, other jobs I’ve done along the way have
Interested in becoming a
taught me a lot about the business side of things. I’ve worked in retail,
graphic designer? Find all
about this and other creative office administration and the media, which has given me a broader
careers in Career FAQs range of skills that are all incredibly valuable in running my own
Design Professionals. business.
www.careerfaqs.com.au How do you design the rugs?
The main design is done up with a pencil in a black and white sketch,
then I pick colours using swatches of yarn. I send the details over to
my manufacturer and get them to redraw the designs to scale and to
colour-match the yarn.

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Ru grats
Rugrats

Where are they made?


I design them, then have them manufactured in China and import them
over here.

You sell your product mainly through your website. What’s


the advantage of working from home?
I have a young family so there are many advantages. Working
from home means I can juggle my home commitments and other
work commitments. It’s inexpensive, it’s flexible, it’s a nice work
environment and it takes a lot of work pressure off. Having the
business running over the Internet means low costs.

0K+
t/o: 10
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iz v is ion: To rtable play
Owner: B n, safe, comfo children
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Gl ee so n e n v ironme
Anita y.
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emotio
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ug rugs.co
www.b

How do you market your products?


I do a bit of advertising in a number of different mediums. My main
source of advertising is through parenting magazines, but I also get
some really good results from Google as a paid listing, which I find is
very cost effective. I chose not to start with a huge initial marketing
push, but rather I started with a trickle and built on every month. I’ve
just increased my exposure as I’ve needed to.

How quickly did the company grow?


The growth of the company has been really good. In the first year and
a half we achieved 15 per cent growth each month which was really
good, and we’re still growing at around five per cent. As far as money’s
concerned, I’m earning more now and working less than I ever have in
any other job!

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Be Your Own Boss

Do you supply to retail outlets? What’s the process of getting


your products in shops like these?
I supply to retail outlets around Australia using a courier service. It’s
very hard to get outlets to commit to taking on new stock and get
them to try it out. I have to approach them, and I find that challenging,
because there are so many products out there that people don’t really
have the energy to talk to you, even though I’m offering something
that’s new and different to what they already have. I find that I’m not
a natural sales person, and I would probably benefit from employing
someone with great sales skills.

alk
om or harb our board w
e bedro om, play ro
Rugs for th

Have you always wanted to run your own business?


Yes, I think I have. My mother ran a small business from home as I was
growing up. She was always available for us when we needed her but
she also supplied the main income source for the family. She was a
great role model and it made me appreciate the advantages of being
your own boss.

Do you plan to expand your business to include other products?


I do have plans for broadening the range. There are advantages in
offering more products so that the marketing appeals to more people.
I’ve just had a new baby, my third child, so at the moment I’m just
battening down and supplying at a minimum rate, slowing things
down as much as I can and when I have the time and energy, I’ll be
broadening the range, designing some more rugs and bringing on
some complementary products.

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Ru grats
Rugrats

So in your job you have the ability to increase or wind up


business depending on how much time you have?
Absolutely. I know a lot of people describe running their own business
as stressful and a difficult way to achieve a good life–work balance, but
it’s really suited me because I’ve been able to grow the business more
slowly while my children were young and generate more business
as they got older. Now that we’ve had our third child, it’s been more
chaotic, but I’ve been able to slow it down again but I can still maintain
the business. As the little one gets more independent I’ll be able to detour
grow it back up again. So it’s worked very, very well for me with a
Ever wanted to know what
young family and it means I’m here for them when they finish school it’s like to work from home?
and I can still juggle everything and more or less get everything done Check out Career FAQs
that I need to do. Working from Home
Also, working from home has meant that I don’t have the financial www.careerfaqs.com.au
pressure of leases or other staff.

How many hours a week do you work?


It’s hard to quantify because I fit my working hours in around all my
other commitments. So I’ll jump on the computer for an hour or so
in the morning, then I’ll get the kids off to school, then spend a few
hours working throughout the day. Some nights I work till quite late,
until 10 or 11 at night, but I may not have done much in the day. I guess
I would say I’m working around about 30 hours a week.

Are you mainly designing or taking care of the business?


It’s mainly administration now. The designing is the fun part which
I did initially but now there’s more MYOB, keeping my accounts
reconciled, getting the sales out on a daily basis, attending to
customer orders and other things like that.

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Be Your Own Boss

How much turnover does the company make each year?


I’m turning over in excess of $100K a year. But as I’ve been going for
only a couple of years, it’s hard to get an accurate figure of how well
the company is really going.
The money that I make is definitely adequate for me. Having done my
first tax return, I was surprised I was earning a very good wage. But
it’s all money that I would put back into the business by choice, using
it to expand things and broaden the range.

What are your qualifications?


I have an Associate Diploma of Graphic Design from the Canberra
Institute of Technology.

How’s the life–work balance in your job?


I have a very good life–work balance. I’m happy with the amount of
time I spend with my family and pursuing work interests. It’s nice to
have an interest other than just being a mother.

What advice would you give to anyone thinking of starting


their own business?
I would say, ‘don’t try and go big too quickly’.
I think it’s a much safer idea to grow the business more slowly
and expand and build on successes rather than overdo it and risk
extending yourself financially and burning out emotionally.
Think about what makes you different! It is critical that anyone
contemplating starting a business should be able to offer a product
or service that has a real point of difference. It is just too hard to
compete in today’s market otherwise.
glossary Have you used any funding schemes?
Business Enterprise Centres I enquired about a few of the funding schemes and found that I wasn’t
are: eligible. But I did find that the Business Enterprise Centre was very
– community-based business helpful in giving me some useful helpful advice that was probably
assistance organisations lacking from my general knowledge about starting a business.
that offer practical assistance
to the micro and small What’s been the best part about running your own business?
business sectors. Flexibility and a sense of achievement, that I’ve been solely
responsible for creating a successful business.

What’s the most difficult thing?


Maintaining motivation, remaining enthusiastic and coming up with
in new ideas. Working on your own you do miss hanging around the
brief coffee machine and talking to your colleagues. That’s definitely a
Anita Gleeson, BugRugs downside, but it’s also really nice to have that time to yourself. It’s just
age 34 that you have to keep up the momentum. My husband is really good
hrs/wk around 30 at pushing me along to keep me going.
quals Ass Dip Graphic
Design, CIT Do you have a life motto?
life–work perfect Be happy!

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Driving ambition
Everyone keeps telling us that we need to get serious about looking
after the planet. ‘But what can I do?’ you ask. ‘How can someone like
lil’ ol’ me make a difference?’ Well, believe it or not, you can make a
difference – no matter how lil’ or ol’ you are. And this goes beyond
saying no to plastic bags (though that’s a good idea too).

As a business owner, you have a unique opportunity to make a


difference in the world by providing alternatives to the carbon dioxide
pumping, ice-cap depleting options currently available.

One way to do this is to make environmentally sound inventions or


designs. Another is to create new services and systems that will allow
people to share resources. This is happening across many industries
where people now have the option of hiring out something, such as a
car or a computer, for a few hours, saving the expenses of owning one
themselves.

The new lifestyle has to not only work efficiently but must also appeal
enough for people to want to change their ways. A bathwater-sharing
service probably won’t cut it.

You’ll need to talk to people in your target market to find out exactly
what appeals to them and when it gets tough, just think about all the
future generations that will still have a bit of ozone layer left thanks to
you! Or you could just ask Nic Lowe how his driving ambition led him
to start the innovative GoGet Car Share.

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Be Your Own Boss

cv paperboy >> café


Nic Lowe – GoGet Car Share
attendant >> chef >> In 2001, Nic Lowe was working as a
merchant bank dealer >> dealer in a Sydney merchant bank. A
owner, GoGet Car Share chance conversation with a friend who
was trying to launch the concept of a
car share company in Australia was
the catalyst for GoGet Car Share which
became the first company of its kind in
Australia.

Nic says that it was his desire to work


autonomously and be more creative
fyi that made him give up his day job. Five years on, GoGet has been
recognised with awards such as the Yellow Pages Business Ideas
The Yellow Pages Business
Ideas Grants program was Grants, City of Sydney’s Outstanding New Innovative Business,
finalised in 2005 and is no Australia Post’s Small Business Award and two Keep Australia
longer available.
Beautiful awards. Not bad for four years’ work!

q&a
What is car sharing?
The concept of car sharing has been around for about 15 years in the
United States and Europe. The idea is that if you drive less than 10 000
kilometres a year, you’re better off sharing a car than owning one.
It’s a mixed bag, really; I guess the philosophy behind car sharing is
based a lot around reducing the economic and environmental impact
of owning a car for inner-city residents.
It’s also about removing that sense of ‘I need to own a car’ – the
important thing for our members is not so much the fact that it’s a car,
but that it’s a way of getting where they need to go, which means it
becomes more about usage than ownership. It’s called post-materialism.

When did you first come up with the concept of GoGet?


It was a friend of mine, Bruce, who approached me three or four years
ago. He was trying to launch it but finding it really hard to get the idea
off the ground in terms of government support and so on. We finally
decided that it if was going to be done, we should do it ourselves.

How does it work?


We have a membership system where people sign up to a local pod
(for example, inner-west Sydney). When each member signs up, they
get a key that gives them access to the car/s. Then what we do is park
the cars in the local neighbourhood, just like any other car, and our
members book them for anything between an hour and three days.

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BYOB_FINAL_16_12_06.indd Sec1:152 18/12/06 9:30:23 AM


D riv in g am bitio
bitionn

How hard was it to make the idea of GoGet a reality?


It was pretty difficult, actually; we spent about a year doing research
and it took nearly nine months just to get insurance. Both Bruce and
I gave up full-time jobs to start the business, which is always a bit
stressful – there’s nothing like a full-time wage for a bit of security.

g going
a l t / o : Gettin
Annu rs
rt-time
four pa
GoGet No. of staff: efits
he ben
Car Share v is io n: All t the hassle
Biz ut
– witho wning one!
r: Ni c Lo we o f a car o f o
Owne n d expe
n s e
a
and Bruce Jeffreys iness in
respon
se
u r b u s
ge yo . if your
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b e prepared s ar e s eed to b
e
‘…
ur c u stomer fe r e n t you n
yo gd if
to what methin
ers want so needs.’
cust om
e to meet t ir
h e
chan g
able to
oget.c om.au
www.g

When did you start trading?


The first pod opened in Newtown about three and a half years ago.

Did you supply the initial business capital or did you have
outside investors?
We approached a number of finance companies with no luck, but then
a finance broker actually contacted us with a few options to finance
the project which was quite fortuitous.

How did you introduce GoGet to the market?


We did a number of industry seminars for government and private
organisations about ‘reinventing the private car’, which focused on
educating people about car sharing and getting them interested in
the concept.

What were some of the key factors to your success?


Number one was definitely getting the support of some key
stakeholders; we developed a very strong relationship with NRMA and
Toyota, which has been immensely positive for our success.
We also had to work out exactly how committed we both were to this
project. You’re not going to make a fortune in the first two years and
there’s a lot of hard work that goes on before that, so you have to try
and be realistic about your expectations for the business.

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Be Your Own Boss

Do you think you made any mistakes along the way?


In hindsight, we definitely would have done a number of things
differently. We would have been a lot more organised; our first priority
then was getting the business up and running so we started off more
as a community project than a business.
We could probably have approached the finance guys more
strategically, but our thoughts were, and still are, that it’s all very well
to have superbly crafted business plans and strategic outlines, but
unless the business is actually open for trade, it’s all a bit pointless.
On the other hand, the way we did it made us learn a lot more about
the business and ourselves – and we were still the first car share
company open in Australia!
I really think that you need to make your own mistakes in order
to learn something. If someone else is always standing over your
shoulder and telling you what to do and how to do it, you’re not going
to learn it for yourself, are you?

What is the most difficult aspect of owning your


own business?
It means long hours, hard work, and reinvesting everything you get
back into the business to help it grow.

And the best?


The autonomy – you get to set you own hours and take credit for the
wins as well as the losses.
Getting awards that recognise all the hard work we’ve put in is
also great. Also, even if I occasionally work a bit more during the week,
I get to take more holiday time because I choose when, where and how
long I need!

What characteristics do you think


entrepreneurs need?
The first is obviously risk taking because that is what business is all
about. You’ve got to be willing to say, ‘yeah, I’ll forgo a secure salary
now for the potential benefits down the track’.
You’ve also got to know the difference between good risks and bad
risks. There’s no use taking a chance if there’s really no hope that it’ll
pay off in the future.
One of the personal characteristics we underestimated when
we started GoGet was the ability to sell. You’ve got to be a good
salesperson when you own your own business, which I guess comes
down to having good communication skills. You need to be able to
make people want to buy your product.
You also need to be prepared to change your business in response to
what your customers are saying. You can plan your business starting
off one way, but if your customers want something different you need
to be able to change to meet their needs.

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D riv in g am bitio
bitionn

How important is marketing for GoGet?


Because of the nature of the product and the emphasis on community,
we concentrate a lot on keeping our members happy. This means that
we get a lot of new members through word-of-mouth advertising.
We started off trying a few different things – at first we went with a lot
of traditional marketing approaches and gradually we realised that
they were costing a fair bit of money and weren’t really working for us.
It’s a hard proposition, trying to sell via traditional media, especially
when you’re trying to convince people to give up their cars to share
one with a whole lot of other people! So we’ve refined our marketing
strategies over the years and we’ve got a pretty tight plan now where
we focus on community branding.
We also work in partnership with community organisations that give
us signage and keep our brochures at their stores. A few months ago
we sponsored a local film festival in Melbourne, which was really cool.

a car!
et a job. But share
Get a life. G
How hard is it to strike a balance between the demands of
work versus life, relationships, family and friends?
Getting the support of our families was one of the most important
elements in the beginning. Starting a business is hard enough on its
own, and if we didn’t have the support of our families it would have
been a lot harder.

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Be Your Own Boss

Now, it’s pretty good. I try to work mainly office hours (Monday to
Friday, 8.00 am to 6.00 pm), with only a few extra hours of work on
the weekends.

What are your top three business tools?


When I was working in merchant banking, I had all the latest
fyi technology and it was great.
On average, each GoGet But running my own business has made me realise how time-
car is used by 15–20 people consuming technology can be, especially when you don’t have a
a day and takes about five professional technology support team on call!
private cars off the road,
making car sharing the ideal My favourite personal business tools are now a leather-bound diary/
way to revitalise members’ organiser, a supply of working pens and a whiteboard on the office wall.
banks balances and
contribute to the good health
What are your business goals for the future?
of the environment. At the moment we’re looking at ways we can grow GoGet pretty
quickly over the next few years. Basically, we want to increase our
presence in Sydney and Melbourne and maybe start up centres in
other cities as well.
So we’re looking at the different options for getting more business
capital, and ways to streamline our processes and cash flow – all that
boring stuff! We also want to start employing a few more people to
help with the day-to-day administration.

What advice would you give to those young Australians


wanting to start their own business?
Don’t expect that starting up a new business will be easy, because
you’ll get a rude shock in a few months time.
Surround yourself with a diverse group of people who know about
business. Don’t be afraid to be upfront with them and talk about the
problems you’re having, because most people are pretty helpful if you
let them be.
Make sure you’re familiar with basic business finance and accounting
procedures because if you don’t you could end working a lot of hours
for very little reward.

What are some of the hardest aspects of starting a business


in Australia?
in
brief Australia has a very shallow capital market, so it can be hard for small
businesses to find funding. In places like the USA and Europe, there
Nic Lowe, GoGet Car Share
are a lot more people with a lot more money, so it’s easier to find
age 35
private investors for businesses.
hrs/wk 50–60
quals B Finance, Master What are your interests outside of work?
of International
Relations
Messing around on my motorbike, eating good food, drinking good
life–work pretty good wine, listening to music, watching live bands and hanging out with my
family and friends.

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Fashion
conscience
Who would have thought that someone buying a beautiful outfit in
the heart of the Sydney CBD would be making a positive difference to
lives of people in Cambodia? Well, thanks to the inspirational efforts
of two young Australian businesswomen, it’s happening.

While most people are aware of the foundation set up by Bill and
Melinda Gates to help world’s poor, many not-so-prominent business
people are using their professional and entrepreneurial skills to help
those less fortunate than themselves.

Kylie Taylor and Valerie Khoo are role models for other Australians
– and others in prosperous countries. They’re not just giving money,
but working with people in underprivileged countries to help improve
their health, wealth and living standards.

So, don’t wait until you have billions of dollars, all you need is love
(and a sense of style).

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BYOB_FINAL_16_12_06.indd Sec1:157 21/12/06 11:46:02 AM


Be Your Own Boss

cv Kylie (left):
Kylie Taylor and Valerie Khoo,
public relations consultant Taylor & Khoo
>> head, public relations
Kylie and Valerie both
firm >> business owner have professional day jobs
– Kylie studied a degree in
Valerie (right): mass communications, and
accountant >> public followed it up with the hard
slog of starting at the bottom
relations consultant >>
in a PR consultancy and
head, Sydney Writers’
gradually working her way
Centre >> business owner
to the top. She now runs a
public relations firm. Valerie,
meanwhile, did an economics
degree and worked as an accountant before studying a graduate
diploma in communications. She now runs the Sydney Writers’ Centre.

Whilst in Cambodia on holiday in 2002, Valerie and Kylie were


confronted and moved by the extent of the poverty they witnessed,
particularly at one orphanage in Siem Reap. They decided to do
something about it.

In 2003 they started Taylor & Khoo, a fashion and homewares label
that plows 100 per cent of its profits straight back into the orphanage,
paying for food, medicine and all the other daily necessities.

Taylor & Khoo also sources all its labour from disadvantaged
Cambodians, offering them the chance to earn money without having
to work in a sweatshop.

q&a
What is Taylor & Khoo?
Taylor & Khoo is a fashion and accessories label, and a 100 per cent
social cause enterprise. We gain no income from it and our work
supports 120 children in an orphanage in Siem Reap, Cambodia. All of
our products are made in Cambodia with the aim of providing jobs and
opportunities for people with disabilities who live in poverty.
We wanted to create a self-sustaining business model that would
glossary continue to support the orphanage in the years to come. We also
NGO means: wanted the business to provide jobs for people who really need them
– so we don’t use factories but work with individuals and NGO-run
– non-government
organisation. workshops. This means that the people who need the work actually
get the work.

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Fas h hio
ion n
c on ssci
c ie
enn cce
e

How hard was it to go from idea to reality?


Kylie: It was extremely difficult because our business idea was
completely untested so there was no path for us to follow, no model to
copy. We were working in retail – a business sector that was unfamiliar
to both of us – in a foreign country where we didn’t speak the
language or understand the business culture and in an environment
with a third-world level of infrastructure. In the end, translating our
idea into something tangible meant relying a lot on trial and error.
Valerie: It was harder than anything I could have possibly imagined. We
went to live in Cambodia for three months at the start of 2003. When I
look back now, I think that much of our journey was possible because
of a combination of enthusiasm and naivety. If we knew then what
hurdles lay ahead of us, we may have been too daunted to tackle it.

100K+
l t/o: $
Annua
taff: 2
No. of s e
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Taylor & Khoo v is io n: To g n d
Biz ans a
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Owner: Kylie Taylor funds fo ith disabilitie
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and Valerie Khoo people poverty in
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‘… Ma o-o ne knows
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aylor andkh
www.t
fyi
Taylor & Khoo’s shop
What stages did you go through before starting up
at Sydney’s Pitt Street
Taylor & Khoo? Mall has two paid staff
Kylie: We started by doing research from Australia, and then moved members and three
to Cambodia for three months. We would meet daily with stakeholders volunteers.
to better understand their needs and the sort of partners and services
we would need to create a working supply chain. For us, the most
important pre-startup stage was building the supply chain – piece by
piece. We also had to understand all the relevant regulations in both
Australia and Cambodia, such as customs, taxes and so on.
Valerie: We spent a lot of time developing our understanding of tax
legislation, especially the legislation associated with importing goods
from developing countries, so that we would know what issues to be
aware of right from the start.

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Be Your Own Boss

Were there any aspects of the planning process that were


particularly valuable for you?
Kylie: Detailed planning, research and networking meetings.
The more people we met, the clearer our path became.
Valerie: I think the most important aspect was simply sustaining
belief in our idea.

When did Taylor & Khoo first start trading?


Valerie: In Australia, we had our first one-day shopping event in
August 2003. Then we opened a full-time shop at Skygarden Shopping
Centre in Pitt Street Mall in November 2003.

Did you supply the initial business capital or did you have
outside investors?
Valerie: There was no outside funding. Basically we funded ourselves
to live in Cambodia for three months and we funded all our initial
outlays for stock and production.

Did you try to get business funding?


Kylie: No, we didn’t even contemplate getting outside funding
because the capital costs were low and we knew that because the
business had social aims, it would never provide the most robust
commercial case for an investor anyway.
Valerie: That’s right. We never contemplated outside funding because
we didn’t want to have to pay back a loan or investment. We wanted to
make money to support the orphanage – not an investor.

How important is marketing for you?


Kylie: We had to establish a business with a global reach on an
incredibly low budget and to do this we relied a great deal on our
website as the main marketing tool. Today we have a mailing
list of almost 2000 customers who regularly purchase items or
make donations.
We also relied heavily on unpaid publicity, such as media interviews,
to spread the word. We have received significant coverage for the story
and the cause in women’s, fashion, business and the mainstream press.
Valerie: Marketing is vital. You need to utilise every avenue at your
fingertips: from websites and word-of-mouth, to email, newsletters
and public relations. What’s the good of having a business if no-one
knows about it?

Do you think you made any mistakes along the way?


Kylie: We made a huge amount of mistakes along the way – but they
were all valuable learning experiences rather than fatal errors.
Most of the mistakes we made fall into the category of relying on
other people and trusting them to care about our venture as much as
we did. The lesson I learnt is that if you really want to get something
done – do it yourself.

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Fas h hio
ion n
c on ssci
c ie
enn cce
e

Valerie: Of course we made mistakes – you should see the cupboard


full of them – strange looking bedspreads and wonky clothes
that have never seen the light of day because we have really high
standards when it comes to the quality control of our products!
But without mistakes, you don’t learn. These mistakes also taught us
to minimise our risks and make really well considered decisions.

Sydney
in Pitt S trett Mall,
Khoo”s store
Taylor and

Would you change anything?


Kylie: There is nothing specific I would change about what we did
and how we approached it. One of the keys to our success was the
strong partnership between Valerie and I – neither of us would have
been as successful on our own. Setting up Taylor & Khoo was a testing
experience and there were times when both of us hit low points – but
fortunately the other person was there to lean on.

What are some of your business goals for the future?


Valerie: Because our goal for the business is to create a self-
sustaining, profit-making venture, expanding the business rapidly
is not the ideal solution. We are committed to growing the business
steadily, and growing profit through increased online sales and
stockists, both of which are more cost-effective – particularly in the
long term – than, say, opening new stores.

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Be Your Own Boss

What is the hardest aspect of owning your own business?


Kylie: You own both the pleasure and the pain. There is no running
away from the problems. You have to face up to them and deal with
them as they happen because no-one else is going to fix it for you.
Valerie: It’s 24 hours a day. You rarely switch off and you’re constantly
thinking about new ideas, new opportunities and ways to improve.

And the best thing about it?


Kylie: Seeing what was once a vague, noble and maybe even naïve
concept alive, working, making money and contributing to the
livelihoods of so many underprivileged and needy people in one of the
poorest countries in the world.

in Cambodia
ned babies
Kylie wit h two orpha
Valerie and

Valerie: Seeing for ourselves that this business idea, our idea,
really can make changes in people’s lives. It’s amazing to see the
improvement you can make to a disabled woman’s self-esteem when
detour she is earning her own living and able to support her family.

Interested in work that helps


And it’s really amazing and rewarding to see the difference in the lives
others? Read about many of the kids at the orphanage. When we first started working with the
such people doing orphanage they lived in horrific conditions, slept on a dirty floor in one
just this in Career FAQs room and were malnourished. Now they have nutritious food, sleep
Save the World in clean beds, and have better access to education. You can see the
www.careerfaqs.com.au difference – their future is now edged with hope rather than bleakness.

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What are your most important business tools?


Kylie: Mobile phone, mobile phone, mobile phone.
Valerie: Internet – how did we ever live without it?

Do you find it difficult to balance the demands of work and life?


Kylie: It is always a challenge – but I think that a lot of life–work
balance comes down to being a well-organised individual. You plan
time to work, time for family, time to exercise and time to socialise.
Valerie: It isn’t easy. I’ve learnt to be ruthless with how I spend my
time. If not, I wouldn’t get anything done.

Do you have to work very long hours?


Kylie: By day I’m in the office or on the road visiting offices in New
Zealand, Singapore and Bangkok; evenings provide time to work on
Taylor & Khoo, in particular when it means follow-up up with people in find out
other time zones. Weekends are generally for friends and family. more
Valerie: These days I work an eight- to 10-hour day, which is great Taylor & Khoo features
because I used to work much longer hours in the first couple of years a range of silk clothes,
bedspreads, handbags,
of Taylor & Khoo. There was a two-month period when I was working
scarves, jewellery rolls, gifts
20-hour days, flopping into bed for four hours and then waking up to and accessories.
work again. It almost killed me. After that I realised that is no way to Check out their website at
live. Now I try to keep weekends work-free and, thankfully, have been www.taylorandkhoo.com
quite successful!

Have you ever had a business mentor?


Kylie: I have benefited from a whole range of people that I have
worked closely with over the years – I have been able to learn
something different from every one of them – but there has been no
specific single mentor.
Valerie: No, I have never had a formal business mentor.

Who are some of your business heroes?


Kylie: Janine Allis – the founder of Boost Juice who started something
from nothing and built a major business from it.
Valerie: Dick Smith. I think his approach to business makes him a
great role model. His approach to philanthropy makes him a great
human being.

Are there any business networks, resources or support


organisations that you have found particularly useful?
Valerie: Developing your own network of contacts is very useful.
It’s important that you are developing and nurturing genuine
relationships and friendships with people – and not just using them
for what you can get out of them. Remember that networking is a two-
way street.

What does one need to be a successful entrepeneur?


Kylie: An unreasonable, passionate, obsessive drive to succeed
– which can be either inspirational or irritating to those around you!

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Be Your Own Boss

Valerie: Obsession with an idea, commitment to excellence and not


being a stranger to hard work and long hours. You might have the best
idea in the world but that won’t mean anything if you are not prepared
to put in the hard yards to make it happen.

What skills do you think are beneficial to young entrepreneurs?


Kylie: You have to start with the basic skill of being able to research
and analyse a market and its potential, or a problem and then being
able to conceptualise and test solutions. The first part requires the
ability to know where to go for information, how to use the Internet,
how to research government services and so on, and of course
analytical skills. The second part requires creativity.
Valerie: An ability to learn, absorb information, take advantage of
advice, and understand that you will have to work hard to make your
business idea a reality.

In your opinion, what are some of the new growth industries


in Australia?
Kylie: Australia has a lot of creative talent in its young people –
artists, print designers, fashion designers and so on. We are working
with one young fashion designer who has developed unique artwork
to paint on some of our silk clothing. In these areas, Australians can
develop their own look and identity that is unique and also world
class – something that the rest of the world will aspire to.

Do you think Australia is a good place to start up your


own business?
in Kylie: Australia is certainly a place that encourages people to think
brief outside the box and chase their dreams, so I think that creates a good
Kylie Taylor environment for entrepreneurs to succeed.
age 35 Valerie: Australia is full of stories of innovation and success. We foster
hrs/wk 50–60
a culture of innovation and there are also many programs that can
quals BA Communications
help young entrepreneurs.
life–work Rarely
work weekends What advice would you give to those young Australians
wanting to start their own business?
Kylie: Just do it. There will always be 50 million reasons why it won’t
in
brief work or can’t work. Just write down all the steps in a logical order
and chip away at it day by day, and every time you find a hurdle, work
Valerie Khoo
through it and move forward. Stay focused on a very clear outcome and
age 35
don’t waver, or you won’t get there. You can’t be all things to all people
hrs/wk 50–60
so don’t get muddled in your mission. Decide what you are going to
quals BEconomics; Grad
Dip communications
provide to what target market and remain focused on achieving that.
life–work much better now Valerie: Believe in yourself, listen to advice (and warnings) from
people – but don’t let them sway you from your dream.

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Smoothie
operator
They say brand awareness in business is everything. This is especially
true in highly competitive markets such as the food industry where
brands compete for the customers’ dollars. Think about the endless
rows of cereal on supermarket shelves. What to buy? How do I decide?
Competition among cafés is just as fierce with many franchised chains
competing against each other for the coffee-drinking public.

In the fresh juice market, Boost Juice has managed to capture the
attention of fruit juice connoisseurs with their colourful branding and
their friendly, fun-loving, fresh approach to business.

Boost proved that you don’t need buckets of money to start a


business from scratch. Armed with a great business idea, $20 000
in start-up funds and a positive attitude, Boost Juice took on its
competitors and became a major player in the juice retail market.
Sounds simple doesn’t it?

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cv media assistant >>


Janine Allis – Boost Juice
assistant gym manager >> When Janine Allis went on maternity
nanny >> yacht steward leave in 1999, she decided she wanted
>> cinema manager >> to have it all – be with her family and
publicist >> owner, Boost have a fulfilling career. But how to do
Juice it? She started her own business.

Janine opened the first Boost store in


King William Street, Adelaide, in May
2000. Within three years the company
was doubling its revenue every three
months and opening a new store on
average once a week. There are now 175 Boost Juice Bars around the
world!

q&a
When did you first come up with your business concept?
I’d seen stores similar to Boost when I visited the USA in 1998 (there is
actually a well-defined juice and smoothie bar market over there) and
I thought that the concept would work well here in Australia.
I knew from my own experience how difficult it could be to find a healthy,
tasty snack – especially when I was in a rush or had my sons with me,
and I realised that it must be the same for a lot of other people.
The catalyst came when I was on maternity leave. It’s often like that
– you’re not really aware of everything that’s going on inside you until
something happens where you have time to reassess your life.
I realised that I really wanted to create something that I could be
proud of and, quite honestly, I didn’t believe that a part-time job
would be stimulating enough for me in the long term, so I decided it
was time to start my own business.

What stages did you go through before you started Boost?


The first thing we did was research. I spent quite a while looking for
different resources and information on the Internet and everywhere
else. After we’d done that, we set about creating the business plan for
Boost.
Then I spent a lot of time talking to friends, nutritionists and
naturopaths to create a menu that was healthy and free of
preservatives and artificial flavourings and colours.
When it came to location, we did some more research. In the end we
decided that, even though we lived in Melbourne, we would open up
the first store in Adelaide because the startup costs wouldn’t be quite
so high as in Melbourne.

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S m ooth
oo th ie
op e rator
ope ra tor

What is Boost?
The point of Boost is that it’s not just a fast-food business that serves
healthy food; it’s also about having fun, being healthy and loving life.
Did you supply the initial business capital for Boost or did
you have outside investors?
After a lot of number crunching, we calculated that we would need
$200 000 to get the first store up and running, so we approached a
few of our colleagues and friends and between the six of us, raised
the capital.

How hard was it to take Boost from an idea to a reality?

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It wasn’t hard, I have never thought of it as being a hard process.


There were a lot of problems, yes, but there was always a solution to
the problem – it was just a matter of finding it. I think the key for me
was, and still is, a question of attitude and having the right people
around me. It’s a lot easier to make something work when you’re
surrounded by positive people who inspire and motivate you to do
your best.

Would you change anything you’ve done in Boost’s history?


No. Even though I know that we’ve made mistakes and we have lost
money through making these mistakes, there is honestly nothing I would
change because every mistake we made taught me how not to make it
again which means I am a better businessperson than before.

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Be Your Own Boss

Why do you think Boost has been so successful?


There are a few reasons, I think. First, there’s our customer
philosophy. I have always treated people the way I would like to be
treated, and that shows in every Boost store around Australia. Our
commitment to great customer service and local communities is a big
part of the Boost difference.

ok ...
The Boost lo

Then there’s attitude. Passion, tenacity, teamwork, hard work, being


practical and staying positive are all very important to me. I am very
even and balanced and my life experiences have taught me that there
is no problem that cannot be solved if I apply myself. I don’t have a
degree, but I am a voracious reader and I love learning.
Last, but not least, it’s about people: having the right people is
crucial to a business’s success. As a business owner, you need to be
surrounded by the right people with the right attitude and not be
afraid to admit you don’t know everything and ask lots of questions.

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How important is marketing for your business to succeed?


Marketing is critical for us, because Boost isn’t just about a store or a
smoothie; it’s about living a lifestyle, loving life, and having fun.

What style of marketing is most used by Boost?


We often use guerrilla marketing techniques, like Internet and email
campaigns, or dressing up people as Boost smoothies and having
them walk around the streets talking to people. In terms of traditional
mediums, we use radio a lot; it’s a great medium for us.

How did you choose your marketing strategies?


A lot of it is about being cost-effective. When you’re starting a new
business, there’s no use throwing money around on advertising if you
don’t need to, and as we’ve grown, we’ve kept the same marketing
techniques because we know they work for us.
I think that guerrilla marketing is a good choice for us because Boost
is a fun, vibrant company, so it fits that our advertising should be fun
and vibrant.

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... and serv
What are your business goals for the future?
At the moment we’re working to expand Boost both nationally and
internationally. We already have three stores open in Chile, two in
Indonesia and one in Kuwait, and we aim to open stores in South
Africa, the UK and Singapore in the near future.

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Be Your Own Boss

What is the hardest part of owning your own business?


Working with people!

And the best?


Again, working with people!

What kind of personality do you think suits


entrepreneurship?
You definitely need tenacity and a positive, can-do attitude, to be able
to see the glass as half full not half empty. You also need to be a good
problem solver, and to be both creative and practical in your thinking.

As a young entrepreneur, how hard is it to strike that balance


between your work and your life?
It is difficult. You have to work very, very hard to establish a
successful business and anyone who goes into business thinking that
they won’t have to is fooling themselves.
When we had just started Boost and I was going on a lot of interstate
trips, I’d take my children with me so that we still got enough family
time. In the end, I think it’s up to you to make the schedule work for
you or not.

Do you have any business heroes?


Not so much business heroes, though saying that Geoff Harris (the
founder of Flight Centre) has to be one of the most inspirational
people I’ve ever had the good fortune to work with.
I do enjoy reading biographies of business people because it’s easy
to see people like Richard Branson and think that they’ve always
been successful, but when you start looking closer, you realise that
they had to work at it too, that success wasn’t something that just
‘happened’ for them. As a business owner, that’s very comforting to
know!

Did you have a business mentor?


We are fortunate enough to have Geoff Harris (founder of Flight
Centre) on the Boost board of directors, and though he has never
been a formal mentor, I have learnt a lot from him.

What are your favourite business tools?


All technology is good technology to me, but if I had to choose, I’d say
my laptop, because it gives me the flexibility to work from anywhere.

Are there any business networks, resources or support


organisations that you have found particularly useful?
No, not really. Personally, I find that going out for a meal or a drink
with friends or colleagues and having a chat about the business is
more useful than attending formal meetings.

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S m ooth
oo th ie
op e rator
ope ra tor

When I’m looking for particular information or resources, I go online.


There is so much information available on the Internet now, that you
really can find almost everything you need with the click of a mouse.

Do you think Australia is a good place to start your


own business?
I think that if you can start a successful business in Australia, you can
do the same almost anywhere else in the world. Australia has one of
the highest minimum wages in the world and our tax rates are way up
there too; that’s why one in five small businesses in Australia don’t
make it.

What advice would you give to young Australians wanting to in


start their own business? brief
Janine Allis, Boost Juice Bars
Surround yourself with good people, learn how to keep your ego in
check, and don’t be scared of hiring someone smarter than you. age 41
hrs/wk 50–60
What do you do to relax? quals life experience
Outside of work, I like playing netball, being with my family, relaxing, life–work quite good
spending time with my friends and reading.

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Champion effort
Vegemite, Speedo bathers, Arnott’s biscuits – Australian products?
They used to be but are now all owned by multinational corporations.
Sometimes such companies have local divisions that look after the
products or they licence their brand to a local business that has the
right to sell into the Australian marketplace.

Entrepreneurs often look to other countries to find products that


would sell in their country. One option is to take a good idea and
create an Australian version of it. Another option is to negotiate
a deal for the rights and responsibility to use the local branding,
manufacturing, warehousing, marketing and distribution of an already
established foreign brand. Depending on how much the parent
company trusts you, it could even mean designing new products
– within set guidelines.

There’s a lot of responsibility involved in being the face of someone


else’s brand, so you’ll need to prove that you’re hard-working,
business smart and in it for the long haul. If you can do that, you’ll
have the massive advantage of using a proven business idea.

Champion clothing is one such global product that has licensed the
brand in Australia to the Australian company, RMG.

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Be Your Own Boss

cv co-founder, LA
Vaughan Richards – RMG Pty Ltd
Shirts Pty Ltd >> owner, In 1989, Vaughan Richards and three of
12 retail sportscard stores his fellow students decided to start a
>> managing director, clothing import company, LA Shirts. Their
Jonathan Sceats Eyewear business concept was a well-established
& Tower Optics >> founder, one – to source shirts cheaply from the
RMG Pty Ltd United States and sell them for a profit in
Australia.

Vaughan has since diversified his


business interests and over the past 15
years has been involved in a number
of successful retail and wholesale
companies. His latest ‘baby’, RMG, which stands for Richards
Marketing Group, designs, manufactures and distributes Champion
and Sergio Tacchini sportswear throughout Australia, New Zealand
and the South Pacific.

q&a
When did you first start in business?
glossary
I was studying a Bachelor of Commerce at ANU and fell in with an
ANU stands for: American exchange student, who has since gone on to buy and run
– Australian National a company called Bagel House. At that time, I was supplying T-shirts
University. to students in the college we were living in, and we started thinking
about how he could source them cheaper in the US and sell them for a
good profit in Australia.

What stages did you go through before you started LA Shirts?


We did a lot of research on similar businesses looking at the prices
our competitors were wholesaling and retailing their products for,
even organising meetings with our competitors under the guise of
doing a university assignment! Our main objective was to find out as
much as we could about their business and the industry.

Did you encounter many challenges when you were starting


your business?
Our biggest challenge was to secure the funding we needed to start
up the company, because the banks wouldn’t talk to us. A bank giving
money to four students who want to start a fashion import company
– I don’t think so!
Our initial capital requirement was $20 000, which was, in the end,
supplied by the four founding partners.

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Ch am pion
pio n e ffor t

Do you think it is more difficult for young entrepreneurs to


obtain business finance?
Certainly when we were just starting up, it was quite difficult to
convince the banks that I could run a profitable commercial venture glossary
because I didn’t have the business contacts, knowledge or track
Inventory finance means:
record that I have now.
– money that can be
Having said that, I do think it is a lot easier to get business financing borrowed from a financial
these days, particularly with the increased availability of more creative group to pay for stock
finance options such as inventory finance and invoice factoring that without the need for the
are offered by non-banks. recipient to use property as
security.
How hard was it to transform your idea into a reality?
Invoice factoring means:
Well, the concept itself – importing clothes – had already been tried – releasing cash from
and tested so it was fairly simple to get the company up and running. invoices as soon as they
The hardest part was making the business profitable. are issued. Usually you
would have to wait a set
In the long run, having a concept that worked and being able to
period – 30 days or so
apply commercial fundamentals in a disciplined way were both very – which can make things
beneficial to my long-term success. tight for the cash flow of
small businesses.

illion
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Economies of scale means:
– savings made from
How long was it before you started seeing a profit? producing more items
less often, as opposed to
It took about three years to make LA Shirts profitable, and we
producing fewer items more
achieved that mainly through increasing market share and taking often.
advantage of the economies of scale.
Aged debtors means:
How hard is it to maintain a successful importation company? – customers whose
payments remain
We are in an extremely competitive industry, and the pressure on us
outstanding for a certain
to maintain strict business guidelines – such as the payment status of period of time.
aged debtors – has increased in the last few years, with a number of our

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Be Your Own Boss

largest competitors being bought out or merging with other companies.


As the larger businesses continue to grow and dominate the industry,
smaller stores are starting to go out of business which can lead to us
losing significant amounts of money. Hence, we have to be extremely
disciplined in monitoring our aged debtors, and ensure that they are
paying us in a timely manner.

So what is RMG?
I bought out the three other partners of LA Shirts in 1996 and RMG is
a follow-on from that business. I’ve set up as a separate entity in order
to own licences for the brands Champion and Sergio Tacchini.
Essentially, it’s a sportswear-distribution company specialising in
sporting apparel and footwear.

ion
of a champ
The brand
Do you think you have made any mistakes along the way?
I think my biggest mistake has been listening to other people and
going along with their ideas even when I knew instinctively that it was
the wrong approach for my business.
As a young entrepreneur, you have to have 100 per cent confidence
in your own judgment and abilities, which can be a tough act when
you’re first starting out.

In hindsight, is there anything you would change?


I have invested in a number of businesses over the years, and some
have been successful, whilst others have been failures.
One of the most important lessons to learn as a young entrepreneur
is that when you’re investing in other businesses, 50 per cent of their

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Ch am pion
pio n e ffor t

success revolves around the idea and 50 per cent the management.
The first business I invested in was during the Internet boom. I was
sold on a great concept, but I hadn’t given proper consideration to
who was running the company and it turned out that the management
was terrible – the business lasted less than 12 months.
However, being part of that meant that all the shortcomings in the
set-up of the business were revealed to me. This means that with any
business I’m involved in now, I look carefully at the set-up in order to
protect myself should the worst-case scenario arise.
One example of this is that, if you are using your own money to start
up a business, you should ensure you have a registered mortgage
over the business. This gives you the best chance of recovering your
money in the event the business falls into trouble.

Are there any negative aspects of owning your own business?


With over 75 staff, there are always difficult decisions to make in respect
to the employees – are people working to the best of their ability? If not,
why? Is it damaging my business? What do I need to do about it?

Are there any positives?


Definitely. The constant challenges that arise, the interaction with
other business owners, and the new opportunities that present
themselves every day. It makes life a lot more interesting!

Source: RMG Pty Ltd, www.championusa.com.au, December 2006

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How important is marketing for RMG?


Marketing is essential for any business. It’s logical that consumers
must be aware of your product before they can purchase it. It’s also
important that retailers see that you are supporting your product
through marketing. Our target market is mainly young people so we
use print media and the Internet for our marketing campaigns.

Are there any skills or characteristics that you think are


central to becoming a successful entrepreneur?
To succeed in business, it definitely helps to be self-confident and
the kind of person who enjoys social interaction. You also need to
be an educated risk-taker with good all-round abilities and working
knowledge of both front office (sales, marketing) and back office
(accounting, administration).

Who are some of your business heroes?


Warren Buffet and Sam Walton in the United States. In Australia, Kerry
Packer and also Kevin Weldon, who has given me some great advice
over the years.

Do you have a business mentor?


No, not as such, but I have a number of friends who are successful
business owners and we regularly get together to discuss the different
aspects of our businesses and seek advice from each other.

Is it difficult to strike a balance between the demands of


work versus the rest of your life?
To me, having a good life–work balance is up to the individual. Sure,
as a business owner you need to commit to working long hours, but
you also have the flexibility of choosing when to work those hours.
In my mind, you’re ultimately responsible for the priorities you set and
the commitments you make in business and in life.

Are there any business networks that you have found


particularly useful?
I’m not involved with any formal organisations as such, but I do have
a network of my own friends who are involved with a diverse range
of businesses.
For example, one friend owns a chain of car dealerships that has
annual turnover of approximately $500 million, another guy owns
a transport company that employs about 1000 people, and another
friend owns the largest film production company in Australia.
Together, we have a large and diverse range of skills, knowledge and
experience to draw support and information from.

Is there any advice you would give to young Australians


wanting to start their own business?
Go for it. The best time to do it is when you’re young, haven’t been
conditioned to the workforce and are able to take greater risks.

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Ch am pion
pio n e ffor
ffo r t

What are your business goals for the future?


Over the next five years, I plan to double the size of the sportswear
business, and diversify more of my interests into other businesses,
particularly property.

What are your top three business tools?


Computer, mobile phone and Internet: they all afford me a greater
opportunity to work more effectively from wherever I want to, in
whenever I want to. brief
Vaughan Richards,
Do you think that Australia is a good place to start up your RMG Pty Ltd
own business? age 38
A lot of people believe that the Australian market is too small to start up hrs/wk 60
new businesses. But I think that if you have the right concept and can quals B Comm, ANU
make it work there are extraordinary opportunities available because life–work fairly balanced
we do have a strong economy and sound business infrastructure.

M o n-F
ri
• A r r iv
e at wo
r k 8.00
am
• Ma n a
g e st af
f S at-S u
• Est a b n
lis h a n d
p o li c ie s imp le m • Wo r k
a n d p ro e nt n ew b ot h da
c e du re ys if n e
s cessa r
• Pla n fo • G o bo y
atin g
r f u t u re
b u s in e s • Play p
s expa n o ke r
• Me et s io n
w it h c o
s upp lie ll e a g u e s, • Re la x
rs a n d accou n at my b
ret a ile rs t a nt, each ho
• Play g use
• Le ave o lf
wo r k 6
.00 p m
• Ta ke la • Sp e n d
tim e w
ptop h o it h f a m
me a nd ily
wo r k t h • E njoy
e re li fe

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BYOB_FINAL_16_12_06.indd Sec1:180 18/12/06 9:31:39 AM
Know
where you
are going.
The Bachelor of Business (Entrepreneurship)
gives you the know-how to develop a business
from the germ of an idea.

You receive mentoring from industry leaders,


learn how to identify opportunities and can
establish your own business while studying.

As a budding entrepreneur, you can also


enter RMIT’s annual Business Plan competition
for a chance to win from a prize pool of
$80,000.

Two entrepreneurship students won the


competition in 2006 with their keg home-
delivery service “Kegs on Legs”, taking home
$25,000.

For more information about RMIT study


options including TAFE qualifications and
university degrees call (03) 9925 2260 or
visit www.rmit.edu.au

RMIT084

RMIT084 247x171_Career-FAQ.indd 1 13/12/06 2:44:08 PM


Ready, set,
go for it!

Do I need qualifications?
Yes and no – anything goes in the world of being your own boss! You
would have seen from our interviews that the secrets of becoming a
successful entrepreneur simply aren’t learnt by reading textbooks.
Most people interviewed said they have learnt from the mistakes
they’ve made. The fact that they’re still in business shows that this is
not such a bad thing!

On the other hand, if you’ve had your heart set on experiencing the
uni lifestyle, or you actually love to study – going to university and
getting a degree will certainly help.

One thing is for certain: having a solid understanding of general


business procedures, particularly finance and marketing, is invaluable
to budding entrepreneurs.

Whether you choose to hone your business skills and knowledge


through formal study or hands-on experience is up to you – after all,
you’re the boss!

Want more quality career resources


from Career FAQs for FREE? Click here 183

BYOB_FINAL_16_12_06.indd Sec1:183 18/12/06 9:31:40 AM


Be Your Own Boss

University courses
You can take undergraduate courses in business at just about every
university in Australia. These degrees usually span three years and
can be taken in conjunction with other degrees as well – if you’re
extra keen, you might spend five years doing business combined with
communications or commerce, just for that extra edge.

Students of business degrees usually have to choose one or two


majors, which will be the main focus of their degree. You can major
in any of the following subjects or sometimes others, depending on
which university you choose.

■ Accounting
■ Finance
■ Management
■ Marketing
■ Human resources
■ Law
■ International business

Throughout Australia there are a whole lot of business degrees that


have either a focus on entrepreneurship or offer it as an elective.

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Generally the entry requirement will be completion of Year 12 and a


university entrance score equal to or greater than what the course
requires.

Below are some examples of the different types of degrees that can
equip you for a career as the boss.

Bachelor of Business (Management)


A Bachelor of Business is a three-year course where students learn the
principles of business management, such as dealing with local and
international competition, new technologies and financial planning.

A standard major in management will equip students with the skills


and knowledge to run their own business, but many universities offer
electives in entrepreneurship, where the concepts of innovation and
entrepreneurship are examined more specifically.

Bachelor of Business (Management)


Subjects covered Skills acquired
Information systems for business Prepare and stick to budgets
Introduction to marketing Identify a target market’s needs and
buying behaviour
Business law
Plan, market and franchise a business
Management and organisation
behaviour Communicate and network effectively
Introduction to small enterprise Critically assess business strategy
and policy
Personal financial planning
Working knowledge of Australian
Accounting for small business contract law
Entrepreneurial business management
Entrepreneurial business issues
Innovation and entrepreneurship

Example of a Bachelor of Business (Management)

At Victoria University, students can opt to combine this type of degree


with a cooperative education strand, which adds another year to the
degree and means spending time at a partner university abroad. It’s
also very common for the degree to be combined with degrees from
other disciplines, such as engineering, IT or arts.

Much of the course content in a business degree is readily


transferable to other fields, such as the principles of economics,
commerce and marketing.

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Be Your Own Boss

Bachelor of Business (Entrepreneurship)


Other Business degrees offer a major in Entrepreneurship, like
Flinders University in Adelaide or RMIT in Melbourne. The RMIT
course, for example, to a large degree has a practical focus and allows
students to create a business while obtaining a degree. In the final
year, after an intensive ‘incubation’ period, students are expected to
launch their own business venture.

Bachelor of Business (Entrepreneurship)


Subjects covered Skills acquired
Entrepreneurship and new ventures Ability to recognise and take
advantage of business opportunities
Marketing for entrepreneurs
Ability to establish and run
Managing growing businesses
entrepreneurial ventures
Financing entrepreneurial ventures
Knowledge of marketing, finance and
Corporate venturing management
Entrepreneurship in organisations Ability to work collaboratively to
Technology and innovation brainstorm new ideas and solve
problems
Venture capital and startups
Understanding of ethical behaviour
The regulatory environment
Understanding of legal and social
New venture creation aspects of entrepreneurship
Entrepreneurial field studies

Example of a Bachelor of Business (Entrepreneurship)

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In an Entrepreneurship major, students will typically meet and learn


from established Australian entrepreneurs; plus, they’ll have the
opportunity to access industry-based mentors. Overall, this type
of degree not only prepares students for careers as innovative
entrepreneurs, but also gives them the skills and knowledge for senior
management roles in large corporations.

Bachelor of Business Administration


Studying a Business Administration degree not only gives you the
generic skills to operate your own business but many courses also
have a special focus on entrepreneurial management. The University
of Canberra, for example, offers a BBA with Entrepreneurship as an
elective. However, if you already have developed an innovative or
entrepreneurial project, a BBA (Entrepreneurial Management) at
the Entrepreneurship Institute of Australia in Adelaide will help you
develop it throughout the course.

Bachelor of Business Administration (Entrepreneurial Management)


Subjects covered Skills acquired
Information and communications Manage conflict, grievances
and disputes
Leadership issues
Negotiate and solve problems
International marketing
Organise and control work to
Business ethics and social responsibility
effectively reach goals
The changing shape of work
Control budgets and optimise finances
and organisations
Identify and capitalise on opportunities
Managing diversity
in overseas markets
Electronic commerce
Manage effectively and make
Contemporary legal issues decisions in conditions of ambiguity
Career management and uncertainty

Integrated entrepreneurial project Develop detailed business plans

Example of a Bachelor of Business Administration


(Entrepreneurial Management)

The course content typically covers all the relevant areas of starting and
owning your own business, including finances, innovation, management
strategies and staff development. Like other business degrees, it is three
years full-time, though, at the Entrepreneurship Institute of Australia,
advanced students can do it in two under certain circumstances.

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Be Your Own Boss

Postgraduate courses
If you’ve already completed an undergraduate degree or have been
in business for a couple of years now, you might be looking for a
postgraduate course to cement your entrepreneurial prowess. Many
Australian universities offer graduate certificates, diplomas and full
Master’s programs specialising in entrepreneurship.

Here are just a few examples of postgraduate degree courses


available in Australia – though you’ll find many more by searching the
Internet for universities you’re interested in.

■ Graduate Certificate in Management Enterprise,


University of Newcastle
■ Postgraduate Diploma of Entrepreneurship,
Macquarie University
■ Master of Entrepreneurship, University of Adelaide

These courses tend to span either one or two years. You can usually
choose to do a research-based postgraduate degree which consists
primarily of writing an extensive thesis on a related topic, or a
coursework degree. Coursework subjects covered in these courses
include:

■ entrepreneurship and innovation


■ resourcing entrepreneurial activities
■ social entrepreneurship
find out
more ■ technology-based entrepreneurship
www.australian-universities.com ■ opportunity recognition and evaluation
■ managing from startup to growth.

TAFE courses
TAFE campuses throughout Australia offer courses in small business
operations from entry-level statement of attainment courses through
to Certificate IV in Small Business Management. These courses are
designed to train new and established small business owners in the
essential skills needed for successful business ownership.

The focus is on giving students the practical skills and knowledge


needed to run a business, such as how to read a profit and loss sheet
and the legal obligations you’ll face as a business owner and employer.

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Courses in small business operations are also available Australia-wide


through the Open Learning Institute of TAFE flexible delivery program.
glossary
Some of the business courses that TAFEs offer include:
Flexible delivery means:
■ small business management
– off-campus, external, online
■ accounting or distance education
learning – because of
■ human resources Australia’s size many
universities and colleges
■ advertising
offer flexible delivery as a
■ record-keeping study method.

■ business administration
■ frontline management

Here is an example of a Certificate IV TAFE course in small business


management. It is particularly recommended for people who want to
open and run their own small businesses.

Students are able to direct their studies by selecting their electives,


some examples of which are listed in the left column of the table.
Depending on the elective subjects students choose, they will acquire
corresponding competency units, some of which are shown in the
right column.

Certificate IV in Business (Small Business Management)


Potential subjects Competency units
Research business opportunities Interact with other parties
Profile a target audience Apply knowledge of the legal system
Undertake financial planning to complete tasks
Promote the business Produce texts from notes
Establish business networks Design and develop text documents
Develop teams and individuals Develop and use complex
databases/spreadsheets
Report on financial activity
Organise schedules
Implement continuous improvement
Process accounts payable
Lead a sales team and receivable
Prepare and produce complex Organise business travel
law documents
Administer projects
Manage workplace information
systems Plan or review administration systems
Develop a marketing Manage payroll
communications plan Create electronic presentations
Manage remuneration and
employee benefits
Represent your organisation

Example of a Certificate IV in Business (Small Business Management)

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Be Your Own Boss

find out This course, or similar courses, can be found at most TAFE campuses
more across Australia. It involves 335 hours of study, including face-
TAFE websites
to-face classroom hours and independent study. Applicants must
have completed Year 12 or TAFE Certificate III in related business
www.tafe.nsw.edu.au
competencies to be accepted into the course.
www.tafe.vic.gov.au
www.tafe.qld.gov.au
www.tafe.tas.edu.au
Professional development and
www.tafe.sa.edu.au industry courses
www.tafe.wa.edu.au
Professional development courses are short courses designed by or in
www.centralian.nt.edu.au
collaboration with professional industry advisers. They aim to provide
www.cdu.edu.au
participants with new skills and knowledge, or update existing skills.
www.cit.act.edu.au
Education providers such as the Australian Institute of Management,
Seek Learning, Open Learning Australia and the Open Learning
Institute of TAFE all offer professional development courses, as do
industry associations such as the local Junior Chambers of Commerce
groups, Australian Business Ltd, and the Australian Chamber of
Commerce and Industry.

There are also many industry-specific courses available to teach you


the essentials of small business ownership and operation. You can
choose to learn through formal training, mentoring and/or industry
seminars. Small business management topics include accounting
procedures, pricing and merchandising, staff management, fulfilment
of legal obligations and legal rights.

One example of an industry course is the MBA of the Street, a short


course run by the organisation Family Business Australia in Sydney.
It usually spans four days and for the past two years has been run in
June. Subjects covered include:

■ business planning
■ research and analysis

find out ■ marketing


more ■ service and operations
You can get more info about ■ organisation
the MBA of the Street at
www.fambiz.com.au ■ finance.

Professional development courses usually have to be financed out


of your own pocket, unless you’re lucky enough to have an employer
who wants to send you on one. But then again, if you’re running your
own business, that’s you!

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And unlike university and TAFE courses, you can’t get Centrelink find out
benefits to ease the way. On the other hand, these courses sometimes more
last only a few days, and the knowledge and contacts you get can be www.aim.com.au
invaluable. www.seek.com.au
www.open.edu.au
www.acci.asn.au

Government programs
The Federal Government’s program to support innovation and
technology is known as ‘Backing Australia’s Ability’. Under this
program, information, mentoring and training programs are now
available to young entrepreneurs, such as ‘Building Entrepreneurship
in Small Business’. This encompasses many programs that provide
merit-based funding to successful applicants.

Some government departments (state and federal) also offer


short courses and training seminars in topics such as business find out
management, new technology, exporting and workplace relations. more
www.innovation.gov.au
www.business.gov.au

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Be Your Own Boss

New Enterprise Incentive Scheme


The New Enterprise Incentive Scheme (NEIS) is the program that all
our interviewees are raving about. There have been more than 100 000
participants since its inception in 1985, making it Australia’s longest-
running and most successful employment program.

Essentially it allows unemployed wannabe-businesspeople to


continue to receive benefits while starting up a new business. Sounds
great, doesn’t it? There is, however, a lot of competition for a place in
the scheme. You’ll be assessed according to your background, skills,
needs and circumstances as well as the viability of you business idea.
You must also be available to work and train on a full-time basis.

If you do get in, you’ll receive professional mentoring, advice and


training on all things business from those in the know. Training
lasts for up to three months and participants receive the nationally
recognised Certificate IV in Business (Small Business Management).
Best of all, you’ll also get ongoing financial assistance.

Doing the NEIS program keeps me from lying awake at night. By


the time I’d finished writing my business plan I was confident
that I’d covered all bases and that my business idea would work.
Cath Willcock, Wine for Dudes

find out Upon completion of the training program your business plan must
more be approved by certified assessors for you to open shop under the
You’ll find the NEIS website at: guidance of NEIS. From there, you may be eligible to receive income
www.workplace.gov.au/neis
support payments for the duration of your first year of business.

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Mind your own business


Believe it or not, there’s more to starting and running a successful
business than buying really shiny shoes and shouting into your mobile
phone. No, really. Here are just some of the other things that you’ll
need to do.

■ Write your business plan

■ Know your product

■ Do your research

■ Work out your finances

■ Get some attention

■ Hire the right people

■ Don’t break the law!

Maybe when you’ve done all that you can buy those really shiny
shoes … in fact, you should be able to afford to have someone shine
them for you!

Write your business plan


So, what’s the plan? A business plan is an official record of your
business idea, product and objectives – your strategy, if you like.
It’s also an important document to take to the bank if you need a
business loan.

When it comes to writing your business plan, the Internet is your best
friend. Many websites have ideas for business plans and how to write
them, as well as free samples and templates to have a look at, so be
sure to make the most of the Internet for research purposes.

Set overall business targets as well as smaller bite-size targets.


Without these bite-size targets you never seem to feel like
progress is being made.
Travis Pittman, co-founder, Bugbitten.com
find out
Does the thought of committing your business baby to paper turn your more
hands to jelly and your brain to mush? If so, just remember that it’s Go to http://business.gov.
au for how-to guides for
not supposed to be a novel. In fact, the main reason you need to write
business plans, templates
a business plan is to get everything clear in your own head before you and great business plan tips.
do anything stupid.

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Be Your Own Boss

It’s just a matter of thinking things through carefully, being organised


and basically filling in a template.

A good business plan should include the following sections:

■ Executive summary – as the name suggests, it’s a summary of the


entire business plan so, depending on whether you have awesome
psychic powers or not, you’re probably better off leaving this to
the end.

■ Market and competitive analysis – what’s the rest of the industry


like? Who’s your target buyer or client? Who’s your competition?

■ Marketing plan – how will you get your product noticed? And, once
you get it noticed, how will you get people to pay money for it?

■ Management plan – this will outline your business’s legal structure


and management resources.

■ Operating plan – a description of where the business will be located,


and the sort of equipment, facilities and employees you’ll need.

■ Financial plan – you need to spend money to make money, but you
might want a slightly more detailed plan than that. We’re talking
financial records and statements.

Before you do that, though, make sure you’ve read all the rest of
this chapter!

Know your product


Take some time to think about what your product or service is. Take
it out and look at it (if applicable). Turn it over, put it on your head,
throw it up in the air (if applicable). Whatever you can do to help you
get a clear, objective idea of the thing, do it.

Write your thoughts down and flesh them out. Make sure you’re able
to answer all the basic questions.

■ What is it? (You won’t get very far if you’re not able to answer
this one.)

■ Who is it for?

■ Where will it be sold?

■ Why is it a sound commercial venture?

■ When will it start selling /making a profit?

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Then start surfing the web and scouring newspapers, magazines,


shops and the streets for similar products. You’ll need to acknowledge
the competition if you’re to make your idea a commercial success.
Here are some questions you should keep in mind when weighing up
your competitors.

■ What is their product or service?

■ Where are they located?

■ How is your product or service different?

■ Are these other businesses popular? Why? Why not?

Do your research
So, you’ve got your heart set on a product and think you can leave the
competition for dead. What next?

Well, that great idea you’ve got for self-buttering toast has to go down
well with the public. This is where market research comes in. Market
research is a method of defining consumer opinion and demand
for a product or service – in a nutshell, the idea is to figure out how
consumers will react to your product.

This can be as simple as talking to family, friends, shop assistants and


even complete strangers about your idea. Listen to what they say and
take note of anything they may perceive as a problem. Remember that
you don’t have to take other people’s word as gospel, but you should
definitely think about what they have to say. Another good idea is to
invest in some industry journals or magazines to find out what’s hot
and what’s not.

The Australian Bureau of Statistics as well as industry groups provide


all the numbers you’ll need to get crunching – figure out what your
target demographic is, how old they are, where they live and how
much they spend. But remember, even if the figures don’t look
promising, it doesn’t mean there’s no market for your business.
find out
If you’ve got the resources at your disposal, you might also think more
about conducting a focus group. The purpose of a focus group is www.abs.gov.au
to find out what the general public wants in a certain product or www.ibisworld.com.au
service. A traditional focus group consists of five to 30 participants www.apnbig.com.au
from different backgrounds, meeting and discussing a certain topic
For a list of industry groups:
or product (with a moderator present – you!). You can then take the
www.australia.gov.au/290
information gleaned from the participants to make sure your product
meets consumer needs.

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Work out your finances


Unfortunately, starting up a business is rarely a cheap exercise. You
need to work out how much money you have, how much you need, and
what the shortfall is (if any). Some good advice is to devise a best- and
worst-case scenario for your startup costs and calculate your finance
according to the worst-case scenario. Work out how much you think it
will cost to start up your business, and prepare for double that!

Then it’s time to figure out the best way to get any extra funding you
need. You might have to approach a bank or private investor – in
which case, leave the balaclava and sawn-off shotgun at home – or
apply for a business grant.

Public grants and subsidies


The federal and state governments allocate billions of dollars in
business grants and subsidies to certain business areas or industries
in need of economic development support. Any small, medium or
large enterprise in Australia can potentially benefit and the grant does
not have to be paid back – it’s yours to keep!

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Some of the areas in which businesses regularly receive government


support include:

■ research and development

■ business enterprise and innovation

■ cultural enterprise

■ small business development.

Tips for submission writing


Applying for a business grant can be a scary and confusing time.
Essentially, you’re trying to convince people to hand over money to
an unknown entity – you. That’s why you need to provide conclusive
evidence that you and your business are worthy beneficiaries.

So how do you do it? The answer is simple – by creating a credibility fyi


file for yourself and your business. This will make it a lot easier for If you are a new business
you to respond to the grant selection criteria and demonstrate your applying for a grant, use
data such as regional
worthiness to the funding body. demographics and your
target market’s disposable
Here are the most important inclusions for a credibility file. Keep in
income – that is, how much
mind that it pays to include as much detail as possible. money they have to spend.

■ Your business mission statement

■ The reasons you believe your business needs, and deserves, a


public grant

■ Documents that demonstrate your ability to work by your business


mission and vision (such as letters from former employers or
business associates)

■ Newspaper clippings regarding any commercial, social and


community achievements that you or your business have been
involved with

■ An organisational diagram detailing the (actual or proposed) staff


structure of your business

■ Detailed plans for any short-term business projects (including a


cost breakdown for each project)

■ A general outline of any medium- to long-term business projects


(product expansion, staff recruitment and so on)

■ A list of business strengths and weaknesses (make sure to include


your own skills and experience)

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Be Your Own Boss

Writing project budgets for grants


In compiling your credibility file, you will have listed all the short-
and long-term projects you plan to embark on. This is where
find out budgeting comes into play – you need to be very clear about what
more you’ll need to pay for each project, how much it will cost and how
If you’re looking for grants much you expect to earn.
for your new or existing
business, check out Here are some ideas that will help make the budgeting process
these sites: less painful.
www.business.gov.au
■ Prepare three separate worksheets, one for personnel
www.ausindustry.gov.au
expenditures, one for non-personnel expenditures and one for
projected revenue.

■ Break down your projected business revenue by timeframe, sales


type, number of customers and average sales per customer.

■ In the personnel expenditure worksheet, include information


on proposed staff hours and salaries (or hourly rates) as well
as the cost of any specialists you may need to employ, such as
marketing consultants.

■ For the non-personnel worksheet, calculate the cost of items


such as marketing campaigns, leasing costs (premises and/or
equipment), business travel and professional development
courses.

■ When you are preparing your budget, work in whole dollars,


rather than dollars and cents.

■ Break down large figures, such as staff salaries, by stating the


number of work hours and the hourly rate.

■ Use detailed descriptions (such as ‘Marketing material print


costs’) rather than a generic term like ‘Marketing’.

■ Try to avoid using ‘other’ as a cost description, particularly if


the figure it describes is more than $500.

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Re ady, s e t,
go for it!

Private investors
The most common ways of securing financial support from private
investors are through what are known as business angels and
venture capitalists.

A business angel – yes, they’re really called that! – is a private


investor (or investor group) who is willing to back your business plan
financially. Most business angels invest for a period of three to five
years before selling their shares of the business to you or another
investor.

For larger or more high-risk businesses, venture capital is a good


financing option. Venture capital is essentially a pool of funds invested
by a group of business people. When a venture capital group invests
in your business, they often offer business mentoring and guidance as
well as sit on your company’s board of directors.

Business finance
The most common way for Australian small businesses to receive
funding is through a business loan from a bank, credit union, building
society, finance broker or finance company. Before you approach a
bank you need to be sure that your business plan is in good order,
you’re well-prepared and well-presented – you wouldn’t give money to
just anyone who wandered in off the street and neither will they!

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Meet an expert
To find out the finer points of financing a business, we spoke to the
chief operating officer of one of the big four banks in Australia.

Bruce Munro, National Australia Bank


Bruce knows all about business finance and what small businesses
need to do to finance their operations. He is currently Regional
general manager, specialised business at National Australia Bank.
Previous to this position he was Chief operating officer, private and
business banking for the bank.

q&a
How important is financing when starting a business?
It’s very important – getting your cash flow right is the key to making
a success of any newly-established small to medium enterprise, and
how you finance your business will impact your cash flow.

What sorts of business finance options are available to small


business owners?
There is a range of business loans on offer, each of them with flexible
or fixed interest rates. NAB’s low-documentation loan packages are
designed to reduce the complexity of financing for self-employed
business owners. The interest rates for each loan will vary depending
upon the security provided and the risks that are deemed to be
involved with the industry or business.
There are also all-in-one credit products which incorporate
transaction, short-term working capital and long-term debt into one
credit solution that can simplify banking for SMEs such as overdrafts,
debtor finance and commercial leasing.

What are they?


An overdraft facility is similar to a short-term loan; your bank provides
you with instant, extra credit that lets you draw money out as you
need it. Some of the differences between an overdraft and a loan are
that (1) with an overdraft you only pay interest on the ‘overdrawn’
amount, and (2) once you have arranged an overdraft facility with your
bank, it will remain available until you (or the bank) cancel it.
Debtor financing is like a cash advance against outstanding invoices.
Instead of waiting for debtors to pay, the financier purchases your
approved trade invoices and makes available up to 80 per cent of
the face value of those invoices, generally within 48 hours. When the
invoice is paid, you receive the remaining 20 per cent.

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go for it!

Commercial leasing is a way for businesses, particularly startup


businesses, to reduce the financial strain by leasing the equipment
that they need rather than buying it outright.

What should small business owners remember


about finance?
Even if you’ve got your own capital, it pays to be certain you’ve
got enough funds to finance startup materials, staff and to keep
the business running until customers start paying. Otherwise the
excitement in the early stages of a business can be short-lived.
Finally, keep in regular contact with your banker or accountant about
potential expansion plans, cash flow humps or changes in business
direction so that appropriate financial solutions can be tailored to
your needs.

Don’t break the law!


There are always lots of rules and regulations involved in business
so it’s important to know how to navigate your way through the legal
mumbo-jumbo. Here are the basics of what you need to know about
getting started, without getting caught out. find out
Setting up a business in Australia is quite simple.
more
www.ato.gov.au
The first thing you need to do is get an Australian Business Number www.asic.gov.au
(ABN) or register your company with the Australian Securities and www.accc.gov.au
Investment Commission (ASIC).

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Check with the Office of Fair Trading for any licences or registrations
fyi
that you may require for your business to operate legally.
Many people interviewed
stressed how important You might also want to find out about the various taxes such as Fringe
their accountant is – the Benefits Tax and GST. Check what you need to do in relation to paying
person who helps
GST by going to the Australian Taxation Office (ATO) website. Filling
minimise their stress!.
in Business Activity Statements (BASs) each quarter is one of the pet
hates of many business people – but necessary to stay in business.

Next you should think about your business itself. Where is your office
and/or workshop going to be located? You might need to consult
glossary a lawyer before you sign the lease or bulldoze an apartment block.
If you’re building, check with the local council about zoning, health
GST means:
– goods and services tax. regulations and whether you need to lodge a development or building
Awards means:
application.
– legal documents that set out Then there’s the people stuff. If you’re going to have employees you
minimum rates of pay, hours
of work and other conditions. need to be well versed in how to steer clear of the legal issues that
OH&S means: can arise from, well, people. Make sure you know the difference
– occupational health between an employee and a contractor, and the ins and outs of writing
and safety.. contracts, paying wages, state awards, workplace agreements and
OH&S regulations.

The best thing you can do to protect yourself is to keep thorough


records of everything that takes place in your business, from financial
transactions to the hiring and firing of employees. Choose your
solicitor and accountant carefully and consult them often to broach
problems before they arise.
find out
more Finally, do your research – you’ll find the Internet a mine of information
To apply for your ABN or ACN when it comes to business regulations and related advice. A good
online check out these sites: place to start is the ATO, which has a comprehensive online service for
www.abr.gov.au business owners.
www.business.gov.au
Get some attention
As a small business owner, it pays to make sure that your product is
noticed. Don’t be a shrinking violet – the art of skilful self-promotion
is what will make your business a success. And the way to do that is
glossary through effective corporate branding.
Corporate branding means:
Effective branding starts from the ground up – everything that you
– creating a long-term, easily
recognised identity for and your business do can impact on how consumers perceive your
your business.. business. With this in mind, we’ve created a few pointers to help you
brand your business effectively.

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Re ady, s e t,
go for it!

Tips for corporate branding


■ Choose a business name that is easy to read and pronounce, and
clearly describes your product.

■ Always keep your business vision and target audience in mind


– calling a luxury car dealership Nuts ’n’ Bolts may not attract the
kind of clientele you’re after.

■ Create a logo for your business that is eye-catching and easy for
consumers to remember. Think McDonald’s golden arches, or glossary
the Nike ‘swoosh’, or even Apple’s, well, apple. You’ll also need a
tagline. it should be no more than 10 words. Again, think ‘I’m lovin’ Tagline means:
it’, ‘Love life’ or ‘Just do it’. – a short, catchy phrase that
describes your product or
■ Make your name/logo/marketing campaign easy for consumers to vision and piques consumer
remember – and keep in mind that in marketing, familiarity breeds interest.

sales, not contempt.

■ Decide on a font that’s easy on the eyes (not Zapf Dingbats or


Wingdings) and make sure all of your marketing materials and
stationery are created using that font. It should be easy to read,
stand out and have an affinity with the product (for example, a
classic font works well with a classic product).

■ Use your name, logo and/or tagline whenever possible – on


stationery, invoices, emails, websites and advertisements – to help
increase public awareness of your brand. fyi
■ Advertising in the media can be expensive, so if your budget is A basic rule of thumb for
spread a little too thin, don’t shell out more dough – plan other deciding how much to
spend on your annual
ways to get your business into the limelight without paying a marketing campaigns is
fortune. One idea is to approach your local council or newspaper to use 1 per cent of your
with an idea for an article based on your product. annual business turnover.

Launch your business website


A business is not a business these days without a proper website. If
you’re handy with computers you could have a go at setting up one
yourself using a web-design program such as Dreamweaver or Go Live
– but in the long run you’re probably better off paying a professional
to make you look professional.

Business websites have two very important functions. The first is


simply to show people in a logical, presentable and interesting way
what your business is all about. Include photographs of your product

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Be Your Own Boss

and testimonials to its brilliance (but don’t mislead anyone – you


could end up paying for it!). Check out the sites of some well-known
fyi products to see how they are set up and what information they include
Many websites have – and then be original!
spaces allocated for paid
advertising as this may be Secondly, your website is essentially another marketing tool for your
their only source of income business. It’s a way of collating your achievements, consolidating
if the site provides free
information.
your image and tempting people to buy your product or service. Lots
of business websites these days have functions where customers can
buy their product/service on the Internet using a credit or debit card.

You’ll find that one of the main issues in running a company website
is how to get people to come to it. If you’re in a position to, it might be
an idea to think about brokering deals with large Internet companies
find out
more to put links to your site from their sites to draw consumers across.
Another possibility is to run competitions with donated prizes or
Check out the examples
of website pages in the incentives to encourage people to log on to your site and get surfing.
appendix of this book.
Running your business online
While most business owners consider a website to be a good
investment, businesses that offer a web-based service have another
set of factors to consider.

Travis Pittman, co-founder of online travel community


Bugbitten.com told us some of the main factors people need to
consider when starting an online business.

■ server types, location and costs

■ selecting the programming language most suitable to your


application (PHP or ASP, for example)

■ database/server security

■ domain name registrations (.com, .com.au, .org, .asn, etc – ‘.com’ is


the best if you plan on doing business internationally)

■ data backup (very, very important so ask your server host what
options you have)

■ building scalable systems to handle rapid growth

■ finding programmers/web designers (ask friends and use Google


to search for contract programmers)

■ testing and re-testing what strategies work to increase web traffic


and revenue

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go for it!

■ linking with other websites is very important for improving your


rank on the major search engines – linkpopularity.com is a useful
site for seeing how many people are linked to you.

■ join Google Adsense and start putting their ads on your site – it’s
free to join and you will notice a steady increase in revenue as
traffic increases.

customer support (you will be amazed at some of the questions


you get!)

■ keeping aware of new technologies in a very dynamic industry (find


a website set up to report news on your particular industry and
subscribe to their daily/weekly newsletters)

■ testing and re-testing what strategies work to increase web traffic


and revenue

■ linking with other websites is very important for improving your


rank on the major search engines – linkpopularity.com is a useful
site for seeing how many people are linked to you.

Hire the right people


Any owner of a successful business will tell you that having the right
people working for you works wonders. Sounds easy, doesn’t it? In
fact, finding people who mesh with your company, work hard and
have a positive attitude can sometimes involve some serious trial and
error.

Employers can tell you some true horror stories – from applicants
who simply get up and walk out mid-interview without saying a word,
to an interviewee who started reading a porn magazine while being
questioned. Another interviewee announced that he had a bomb in
his suitcase and would let it off if he didn’t get the job. Needless to
say, he didn’t get the job, and the interviewer lived to tell the tale.

Hiring the right people is something that can make your business.
Hiring the wrong people can break it! If you’re in a position where you
can start taking on employees, there are two things you should be
looking for in your applicants.

Make sure that they are actually qualified to do the job you’re hiring
them for – it’s no good hiring your best mate, the bus driver, to do
your accounts. The second is a question of attitude and compatibility.

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Be Your Own Boss

The best teams are those of like-minded people who like and respect
each other and will pitch in to help out when the going gets tough.
As the boss, you can choose your team, so think about what types of
people you prefer to work with.

cter!
ire any old chara
Don’t just h

Have your applicants email their résumés and cover letters through
to you so that you can select a few of the best to meet in person. If
they spell your name wrong or appear to have sent generic documents
without bothering to tailor them to your job ad, you can bet they’re
not great when it comes to attention to detail. Make sure they
have addressed your selection criteria thoroughly and assess their
motivations in applying for the job.

In the interview you want to see that they’re well presented


(remember, they’ll be representing your company) and they answer
your questions thoughtfully. After that, it’s really up to your gut
instinct as to whether they’re right for your business or not. You’re in
charge, right? Riiiiight?

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go for it!

What can I do right now?


Get started! Begin by convincing your friends and family to support
you (morally, we mean – no need to bleed your loved ones dry). Start
surfing the web for all you can find about setting up a business,
getting financial advice and knowing your legal obligations. Think
about your business idea and start writing your business plan. Start
designing your product or service and dreaming up ways to market it.

And then … stop. Stop thinking negatively about the obstacles ahead
and the long hours you’ll have to work.

Most business owners out there will tell you conditions will never be
exactly perfect for going it alone, but that it’s a labour of love. And
yours can be too.

You should live and breathe your business plan. Then, when you’ve
thought it through, turned it inside out and upside down, do
something crazy. Actually do it.

Good luck!

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BYOB_FINAL_16_12_06.indd Sec1:208 18/12/06 9:32:34 AM
B uz z words

Buzz words
ABN Australian Business Number (Also Australian
Businesswomen’s Network)
aged debtors customers whose payments remain outstanding
for a certain period of time
agribusiness a business involved in the production, processing
and distribution of agricultural products
ANU Australian National University
ASIC Australian Securities and Investment Commission
ATO Australian Taxation Office
awards legal documents that set out minimum rates of pay,
hours of work and other conditions
B2B business-to-business
BAS Business Activity Statement
Business Enterprise community-based business assistance
Centre organisations
that offer practical assistance to the micro and
small business sectors.
Carpe Diem ‘Seize the day’ in Latin
CDMA A digital moble phone, GPS and satellite system
– the letters stand for ‘code division multiple
access’
CGI Computer Generated Imagery
corporate branding creating a long-term, easily recognised identity for
your business
creative equity equity received (partial ownership) in a business in
exchange for the value you add to it
economies of scale it’s cheaper to produce or import in bulk less
frequently, as opposed to producing or importing
small amounts often
equity the cash value of your assets, such as your home,
which banks or investors can use as leverage if
they need to squeeze money out of you later
flexible delivery off-campus, external, online or distance education
learning – because of Australia’s huge geographic
mass, many universities and colleges offer flexible
delivery as a study method
FBT Fringe Benefits Tax
GST goods and services tax
inventory finance money that can be borrowed from a financial group
to pay for stock without the need for the recipient
to use property as security
invoice factoring releasing cash from invoices as soon as they are
issued. Usually you would have to wait a set period
– 30 days or so – which can make things tight for
the cash flow of small businesses.

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Be Your Own Boss

modalities therapist specialties, such as naturopathy,


homeopathy and so on
NGO non-government organisation
OH&S occupational health and safety
overheads the costs that business owners must pay to keep
the business afloat, such as rent, electricity, phone
and insurance
PAYG pay as you go
pre-fabrication manufacturing parts in one location, ready to be
assembled in another. Essentially this means
building parts of houses in factories and towing
them to the right spot. Originally pre-fabricated
houses had a certain stigma attached to them as
they were cheap and flimsy, but the quality has
improved significantly over the last few decades.
sales leads telephone inquiries or any response to advertising
that may lead a salesperson to a potential
consumer
Sublimation A form of printing that uses a heating process
to vapourise the dyes so that they permeate the
fabric or other suface.
tagline a short, catchy phrase that describes your product
or vision and piques consumer interest. One very
famous example is Nike’s ‘Just do it’.
turnover the gross amount of money that a business turns
over in a year
unearned income income derived from sources other than
employment, such as interest and investments
vertical specialisation concentrating on just one facet of an industry

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Appe n dixe s

Appendix
Sample websites

sh
site look fla
ke your web
ense site, can ma
ke this one on the 2-S
A nimations, li

Source: 2-Sense Productions, www.2-sense.tv, December 2006

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Another sample website

Source: RMG Pty Ltd, www.championusa.com.au, December 2006

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Appe n dixe s

Photo credits
A big thanks goes out to everyone who generously supplied photos for
this book.

Front cover: Patricia Malina, Dreamstime; Jens Mayer, Dreamstime


The big picture: Violet Star, Dreamstime for chapter image; Michael
Straight; Ivanakorab, Dreamstime
Go Nuts!: Neil Gould, Stock.xchng; Brent Hall
Make an impression: Martin Fischer, iStockphoto for chapter image;
Adrian Bold, Bold Impressions
Write it right: Aron Hsiao, Dreamstime for chapter image; Jill Farrar
Taking off: David Lewis, iStockphoto for chapter image; Paul Pingiaro
Look hear!: Michael Straight for chapter image and other images
On your marks: Haibei Ren, iStockphoto for chapter image; Leonie
Nichols, Athlete for your Event
Show me the money: Marcelo Moura, stock.xchng for chapter image;
Jacob Waks
Wish you were here: Maigi, Dreamstime for chapter image; Travis
Pittman
Eat your greens: Luke Baylis, Sumo Salad
Cheers!: Markanja, istockphoto; Cath Willcock, Wine for Dudes
Caught in the web: Yuri Arcus, Dreamstime for chapter image; William
Swayne
Well, well, well!: Andre Nantel, iStockphoto for chapter image; Marisa
Camilleri, Melbourne Naturopathic Wellness
Sock it to ‘em: Compiled from photos at www.mocks.com.au; Lara
Fletcher, LaRoo
Get into gear: Barry Alsop / Eyes Wide Open Images for chapter
image; Ben Beard, Codewear
Home work: Sarah Bickford, Modabode
Taking the plunge: Orla, Dreamstime for chapter image; Amanda
Stevens, Splash Consulting Group
Rugrats: Anita Gleeson, Bugrugs
Driving ambition: Liv Friis-larsen, Dreamstime for chapter image; Nic
Lowe, GoGet Car Share
Fashion conscience: Kylie Taylor and Valerie Khoo, Taylor & Khoo
Smoothie operator: Fedor Patrakov, Dreamstime for chapter image;
Janine Allis, Boost Juice Bars
Champion effort: Milan Kopcok, Dreamstime for chapter image;
Vaughan Richards, RMG Pty Ltd
Ready, set, go for it!: Nick Benjaminsz, stock.xchng for chapter image;
Anka Draganski, stock.xchng, Ryan Glanzer, stock.xchng

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Books for every career you can
imagine!

Available now at bookstores and on the


Career FAQs website
Accounting Landscaping & Horticulture
Accounting NSW/ACT Law
Advertising Law NSW/ACT
Allied Health Law Victoria
Building & Construction Marketing
Design Professionals Medicine
Engineering Nursing
Entertainment Nursing NSW/ACT
Extreme Nursing Victoria
Fashion Psychology
Financial Planning Public Relations
Going Global Save the World
Hospitality Teaching NSW/ACT
Human Resources Travel & Tourism
Information Technology Weird & Wonderful
Investment Banking

Coming soon
@gov.au Publishing
Accounting Victoria Scientific Pursuits
Banking Teaching Victoria
Be Your Own Boss The Art World
Beauty & Fitness The Sporting Arena
Digital Media Working from Home
Education Working with Animals
Industrial Design Working with Children
Journalism

BYOB_FINAL_16_12_06.indd Sec1:214 18/12/06 9:32:52 AM


Other ‘expand your horizons’ series titles:

Going Global
Want to work overseas? The world’s your oyster and Career FAQs Going
Going
GLOBAL

realjobs realp
Global your guide. You’ll find interviews with Australians working in

i
around the world
Jobs that take you
the UK, the US, Canada, the Netherlands, China, Cambodia, Sudan and

eople realexper
more. We give you all the essentials to get you going, like visas, and

Going Global

iences
tell you what opportunities are waiting to be seized!
their
Australians tell
career stories

Save the World

Expand your horizon


VANESSA
McQUARRIE

Jane Lyons
s
Do you want to make a difference while you make a dollar? From

realjobs realp
those at the frontline of global aid to the admin staff behind the w o r ld

eople realexper
Working to help other
s
scenes, you’ll hear straight from real people what working for a cause

Save the Worl


is really like. Whatever your interests, whatever your skills, this book

s ience
will show you how to get a job saving the world.

d
Australians tell
their
career stories

E
Extreme JANE
LYONS
Imagine standing at the door of a plane … looking down at the
distant earth … someone telling you to hurry up and jump … If your realjobs realp EXTREME
reaction is anything other than to curl up on the floor and cry, an
eople realexper

extreme career may be for you! From croc farming to underground


mine blasting, this book gives you the facts on getting into the most
iences
Extreme

adrenalin-fuelled careers around. their


Australians tell
career stories
Expand your horizon

FRAN
Weird and Wonderful MOLLOY
s

Want to stuff animals for a living? How about telling jokes for a job?
Career FAQs Weird and Wonderful tells you about creative, unusual,
humorous and some quite dangerous jobs that will make great
conversation at parties. It’s essential reading for those who don’t just
think outside the square, but who want to work there too!

Coming soon: The Sporting Arena


Whether it’s your lifelong dream to win gold at the Olympics, or you
just watch a LOT of sport on TV, there is a job in the sporting world
that’s perfect for you. Career FAQs The Sporting Arena includes
interviews with sportspeople of all sorts about what it’s really like
to make a career out of pursuing your personal best. We also talk to
trainers, managers, sports marketers and journalists and others, so
you can learn about the possibilities and how to get started.

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