Showing posts with label Entrepreneur Interview. Show all posts
Showing posts with label Entrepreneur Interview. Show all posts

Why do 95% of startups fail?


We all know the success stories of Facebook, Airbnb, Twitter and Uber. 

But only 5% of startups are successful. 


In a detailed review of over 2000 startups financed with venture capital reveals that more than 95% of the startups fail to see return on investment. And 40% of US startups liquidate all assets, with investors losing all their money. 

Startups fail according to the study because the old management methods of a good plan, a solid strategy and thorough market research don’t work for startups, as they operate with too much uncertainty. An analysis shows us the top 20 reasons why startups fail.

Insufficient market need . . . . . . . . 42%
Ran out of cash . . . . . . . . . . . . . .  29%
Poor management team . . . . . . . .23%
Beaten by competitors . . . . . . . . . 19%
Price/cost issues . . . . . . . . . . . . . .18%
Poor product . . . . . . . . . . . . . . . . . 17%
Poor/no Business model . . . . . . . .17%
Poor marketing . . . . . . . . . . . . . . . 14%
Ignore customers . . . . . . . . . . . . . .14%
Product mistimed . . . . . . . . . . . . . .13%
Lose focus . . . . . . . . . . . . . . . . . . .13%
Disharmony with investors . . . . . . 13%
Bad pivot . . . . . . . . . . . . . . . . . . . .10%
Passion fades . . . . . . . . . . . . . . . . .9%
Poor location . . . . . . . . . . . . . . . . . .9%
No investor interest . . . . . . . . . . . .  8%
Legal issues . . . . . . . . . . . . . . . . . . 8%
Did not  use advisors . . . . . . . . . . . .8%
Burn out . . . . . . . . . . . . . . . . . . . . . .8%
Failure to pivot . . . . . . . . . . . . . . . . .7%

There is seldom only one reason why start-ups fail, this is why the list exceeds 100% The main reason though why startups fail, is that the founders have a ‘big idea’ and come up with a so-called solution for something there is no market need.

A successful start-up needs three ingredients: 
  • a relevant market need (ideally a painkiller and not merely a vitamin - thanks Jerry Engel) 
  • a feasible simple solution and 
  • a viable business model. 


The way to get things done is not to mind who gets the credit for doing them. 

Have a successful, healthy and profitable day.
Bob Pritchard

5 reasons why you should do what you love

Inspiration by Ronsley Vaz
Do what you love and you will never work another day in your life!  (Not sure who said that) 
Below are  5 reasons why you should do what you love…
FATDA (FLOW, ATTRACTION, TIME, DECISION, AUTHENTIC)

1. The Flow Derivative

Do what you love and the universe  help you along the way. It will send the right people you need to talk to (see reason 2), and it will assist in removing obstacles - something happens.

2. The Attraction Principle

Build and it will come! Once you are in flow, you start attracting the right people and the right opportunities. 
Think successful and successful people will be attracted to you - (manage your state - Anthony Robbins is big on this)

3. The Time Illusion

When I was an auditor , I would think that at least 2 hours had passed, and would look at the clock it would only be 15 minutes. We’ve all been in the position where we don’t want to get out of bed to do what’s on the agenda for the day. 
However, once you do what you love, there isn’t enough time to make all your ideas happen. You are just like a pig in shit!
Time just flies.

4. The Decision Clarity

When you love what you do, and you have clarity - decision making suddenly becomes easier. It becomes easier because you are so aware of your priorities and why they matter, why you are the best person to do what you are doing, and most importantly who you are serving. When you know all that, the decisions that you are making become easier.
Even if you ale the wrong decision - you fail - change and move on to thee right decision .... Failing forward and growing!

5. The Authentic Factor

When you love what you do, you can’t hide the excitement from your eyes when you talk about it. 
You have passion
In fact there will be people that ask you to not talk about it. Why? Well, it makes them uncomfortable. Your job isn’t to worry about those people, but the people that want to hear from you and about what you do. When you do what you love, you will attract the people that want you – and, lots of them.

5 Ways for SME's to build there brands


Glen Carlson (key persons of influence ) talks about the 5 ways to build an influential brand on a small business budget

1. Create a remarkable pitch
2. Publish great content
3. Create valuable products
4. Raise the owners personal profile
5. Build well aligned partnerships. 

Collaboration and Connecting Links to Success

Great article by Chantal Cleminson 


English Author John Donne said“No man is an island”, meaning no one is self-sufficient; everyone relies on others.
Most experts agree that collaborating in business produces greater outcomes. The brainpower of intelligent people combined together, has the ability to solve problems and achieve amazing results. It can also be very liberating to be part of a work culture that promotes collaboration.
I first experienced the benefits of collaboration after graduating and working in my first Interior Design job. We were involved in the Corporate Design of a couple of Banks as well as the designs for a large Cinema Group amongst others. As part of the design team, we collaborated with design concepts through to the production of drawings and finally their implementation. Our best results were due to collaboration.
More recently I played a part in a Project relating to a social cause; which required wide scale collaboration. Without this form of collaboration, this project would not have got off the ground or be achieving the results that it is now seeing.
According to Forbes there is nothing more important to leadership and organizational success than collaboration. It exponentially increases the odds of amazing things happening. But it can be tough to achieve. Bringing people together and then igniting and nurturing a collaborative effort is a key test of leadership and workplace culture.
Collaborating and sharing of information creates new ideas, innovation and exciting opportunities for organisations. We have all been part of this in one way or another. Reading an interesting or intriguing article that we just want to share; to watching something inspirational on TED or seeing the collaboration through teamwork in sports. These are the things that inspire us in so many ways. 
But like any relationship, it is important to set limits – to have boundaries. It is not about being best friends. It is where you need to be respectful and honour people’s limits. It is ultimately about good communication and where everyone has the chance to be heard. By focusing on the goals and working together on the solutions - you cannot go wrong.
By being genuine and true to yourself, you allow others to understand who you are and how to collaborate with you, gaining their respect. You will always get caught out if you pretend to know what you don’t. Collaboration is about bringing your best self to the project.
By collaborating with others, spontaneous connections can be formed; resources can be pooled for more effective delivery; and partnerships can be developed. From two people working towards a shared goal to large scale collaboration; where people have ideas and knowledge is shared - this is what makes anything possible.
Collaboration ignites innovation in so many ways: It focuses on creative solutions, ideas for improvement and exciting opportunities. It has the ability to resolve world problems that are too large to solve alone.
So why are people so scared to share knowledge? Is it that they think others will fare better than them by using their ideas; or is it that they may feel inferior to others and do not feel like they are able to contribute anything?
I have noticed that by sharing your knowledge, you actually build credibility; where people begin to trust you and develop a relationship with you. By collaborating and contributing you may feel valued and you may actually learn something from someone else.
Being part of a successful collaboration is exhilarating and exciting. It doesn’t matter how big or how small the collaboration is; it somehow makes you feel part of something bigger than oneself and this touches our souls, connects us to others and instils career satisfaction.
Technology enables collaboration to happen on a global scale. It is a game changer as it enables one to collaborate on a large scale platform; whereby it creates social learning, networking and development and cultivates creativity and innovation.
As Bob Mudge (President of Consumer and Mass at Verizon) puts it: “Collaboration is no longer just a strategy: it is the key to long-term business success and competitiveness. Businesses that realize this sooner rather than later will be the ones who win the game and succeed in the new global economy.”
What are your thoughts about collaboration linking to success?

5 tips from Tom Peters on how to make change management programmes work



5 tips from Tom Peters on how to make change management programmes work – extracts from article from Leon Getler of Acuity Magazine April 2015 edition

Tom Peters book “in search of excellence” has placed him as one of the worlds most influential management thinkers. The book identified the traits that set successful companies apart.

AT 72 , he is a prolific blogger and tweeter and has 5 tips to make change management work

  • 1.     WANT IT!! You have to want to change so much that you are prepared to take the shit that goes along with the change – Change does not happen smoothly!!
  • 2.     Build alliances and build TRUST with them - and don’t spend time fighting enemies. Recruit them, spend time with them, respect them, get their trust … Trust is a simple formula - T = C+R+I over S
  • 3.     Don’t sweat the little things – focus on the end game.
  • 4.     Take action – and roll with the punches… what you think the change will look like rarely does. Give the team the kudos… make them feel important, let them own the process.
  • 5.     Be persistant , tenacious and resilient… as Churchill said – to succeed is the ability to go from screw up to screw up without loss of nerve! Churchill had 60 years of problems and 4 good years!


Remo Giuffres tips for entrepreneurs



Remo Giuffres tips for entrepreneurs
  •       Passion – find the intersect between passion, what you are good at and what can make you money and develop the model!



  • Vision - Clarity of vision is key
  • Believe - Be Optimistic and believe in what you are doing.
  • Trust your Instincts
  • Be creative and celebrate your differences – build a team that complements your strengths
  • Networks and Relationships – design, develop and nurture your passionate engeaged customers and networks
  • Do good work – the best marketing is a delighted customer and advocate
  • Persistance – is key – you win some and lose some – research has shown that you get a customer after 12 touchpoints

Why I do what I do

By my good friend Brad Horwath 


In the decade since I last had a full-time role I’ve often been asked what I do. It used to be an easy answer – freelance journalist. Over time however the list of services I find myself providing has blossomed – author, speaker, facilitator, host, communications trainer, analyst, writer, consultant, etc – to the point where I pretty much have no idea how to succinctly explain  what I do. It is on the whole probably a good problem to have.
But it is worth thinking about the question itself. ‘What do you do’ is a question that provides an easy way to define us, but it doesn’t really do many people justice now, especially when many of us are doing more than one thing. Describing what you do gives only the slightest inkling of what it is you can do – and in a world where increasingly I feel that we are making it up as we go along (I’ll explain what I mean by that in another post soon), skills and potential count for a lot.
Partly as a result of a project that I am working on now (and yes, that will be the subject of yet another blog post) I started to realise that there is a far more interesting question waiting to be answered – ‘why do you do what you do?’. I’ve tried it a few times and the answers have been surprising.
So here is my answer – ‘why I do what I do’.
Firstly – the heart of my motivation. I have a strong belief that the Australian economy is poised for an unhealthy future. Too much focus on (based on previous success) in mining has left us lagging in other sectors – especially in information-based industries. We are vulnerable to encroachment from foreign competitors – both online and off – and too few of our traditional successful domestic companies have parlayed that success on to the international stage. Our boards lack courage and vision – and are too hampered by the need to return shareholder value in the short term to take the steps they need to if they are to ensure their long term future.
The answer? In short, I believe we need to make more ‘things’ (including intellectual property) that people in other parts of the world need (or at least are willing to buy), lest we fall behind emerging nations and find ourselves with a declining standard of living.
It is a sentiment that is echoed in numerous reports, including Accenture’s report For Richer, For Poorer, released last year, which found: if the government in Australia does not respond with urgency and decisiveness to address the fundamental challenges in its labour market, the country will see declining levels of productivity growth rates and overall shrinkage of the workforce. That, in turn, will result in a decline in the living standards in Australia.
More starkly,  earlier this year PwC released its World in 2050 report which suggested Australia would slip from 19th place in 2014 to 28th in 2050, behind Bangladesh and Iran. Go Team Australia …
There is no end of reports that suggest similar futures. There is also no surplus of ideas of how to turn our progress around.
So back to the question – why do I do what I do.
For starters, I am a passionate believer that for a country to succeed then it needs everyone – EVERYONE – working together to achieve growth (in whatever metric you consider important). Perhaps it is the bias that comes from more than two decades researching the impact of internet/digital technologies on Australian business and society, but my own conclusion is that a more digitally-capable Australian society is a key ingredient in our long term competitiveness. That means raising the digital skills of EVERYONE.
Hence I am working with groups such as the Broadband for the Bush Alliance, which seeks to improve access to and utilisation of digital services in remote and regional Australia (please join us in Darwin in July for the next annual Forum, for which I am an ambassador). I am also lending some effort to the Australian Smart Communities Association, which will be holding its inaugural convention in 2016, and aims to showcase the work to improve digital services in communities around Australia.
I’ve also spent much of the last few years speaking at events in locations ranging from Longreach to Mount Gambier, helping to raise digital awareness and skills. This work will continue to be a focus for me, and it is my hope that in future situations I might be able to do more than just raise awareness. Have a look at Infoxchange’s Go Digi program as an example of a program that I fully support and will be looking to promote further.
But it is not enough just to be smart users of technology – we have to be smart creators too. That means more start-ups. Start-ups do amazing things. They create new markets, and improve old ones. The show how inefficiencies can be stripped out. They incubate new processes and new ways of running businesses (cloud computing, agile development and dev ops, etc), the socialise new working models (flexible working, remote working), and so on. And occasionally they go on to become multi-billion dollar employers in their own right. These companies quickly outgrow their domestic market, and we need to be generating a lot more of them if we are to have a healthy future.
Many of these companies are founded purely off the cleverness of the people at their core (not off a mineral resource) and no country has exclusivity in smart people. Hence the more we can do to bring people into digital careers and support start-ups and entrepreneurs, the better. This will be the focus for another project in 2015 (and yes, another blog post).
I also am convinced that having smart users and smart creators in the same environment benefits both groups – one can learn from the other – and hence both are needed for long-term sustainable success.
This also leads me to believe that if Australia is to have a successful future in digital technologies than we can’t afford to leave half of our potential talent out of the game. Australia already suffers from too few high school students choosing careers as digital creators (hence my support of initiatives such as Digital Careers). The need to get more women into the IT industry is critical.
A lot this work is realised through writing and speaking, and the occasional direct engagement. Its what I refer to as ‘working from the edge inwards’ – and is based on what I saw in Africa a decade ago, where you can do a lot more for a village with $1000 and a few shovels – more seemingly than you can do with a million dollar aid budget. Making the digging of clean wells work at scale however is a difficult exercise.
I’ve also done the odd spot of work with larger organisations, helping to seed and stimulate ideas of what the future holds and how they might not just adapt to it, but anticipate and profit from it. I am constantly seeking an answer to the question of whether large organisations can innovate at the pace required to compete with digital upstarts or changing customer preferences – and if so, whether the formula can be distilled and administered  elsewhere. The jury is still out on that one, with the exception of a handful of examples.
But ultimately – why do I do what I do? Because I have two little girls whom I want to see grow up leading the best possible life that can be provided for them, with options in what they choose to ‘do’. If I can contribute to a better future and pull other people with similar goals together to work towards that future, then I know I will have done all that I can.
A lot of my thinking still needs fleshing out, but this is a start.
Hence when it all gets stripped down to the things that I earn money from, I am more likely to accept those commissions that see me building towards the goals listed above. If it is a task through which I can help individuals become more aware and capable regarding the tools that are available to them, then I am more likely to be interested. If I can contribute to the success of Australia’s entrepreneurial community, then I am more likely to be interested. If I can help larger businesses successfully transform and ensure their long term survival, then I am interested. Even if I am only the smallest part of the process.
Fingers crossed, maybe writing it all down might help me realise some of my whys 

Live your own life and be what you want to be!

"Your time is limited, so don't waste it living someone else's life. Don't be trapped by dogma - which is living with the results of other people's thinking. Don't let the noise of other's opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary."
Steve Jobs

Teaching The Leopard To Change Its Stripes


Jennie Vickers began her legal career in London, working for one of the world’s most prestigious law firms. Focusing on commercial business work, she spent a number of years as an in-house lawyer really getting to understand business drivers. After moving to New Zealand, Jennie used her time in law firms and in-house experience to set up a law firm better suited to the digital age.

Dynamic Business Success

His ‘Wealth Dynamics’ approach to business has seen him build half a dozen multi-million dollar companies over the last decade, so Roger James Hamilton is an inspirational speaker for every business owner. During his Australian Tour, Roger is joined on stage by some of Australia’s brightest entrepreneurial lights, including Ivan Kaye and Ryll Burgin-Doyle of 10X.

Sharon Williams: Marketing Strategies That Won't Break The Bank


Born in the UK, Taurus marketing owner Sharon Williams began her career with marks and spencers before working for a Kashmiran prince called Ravi Tikoo in his (very glamourous!) shipping company.  After getting married and backpacking around the world with her husband, Sharon relocated to Australia. When she became pregnant with their first child, her then-employer made it clear there was no longer a role for her in their organisation, so Taurus was born. Sharon gives spark readers some insights into the marketing strategies that can take your business to the next level.

Valentine’s Day: Survival Tips From A South Island Florist


It’s February. which means that many of you are trying to decide on the perfect gift for that special someone this valentine’s day. Spark Magazine spoke to sandra lang, the owner of Marguerita Florist for the last 22 years, about how to chose the perfect floral arrangement, plus the challenges of surviving in an increasingly competitive market.

Yvette Adams Talks Business: Starting, Selling and Staying Home


Born and raised in Wellington, Yvette Adams spent 7 years working and travelling the world before emigrating to Australia. She has started 5 businesses (sold two) and won multiple awards for her success. A public speaker who has lived the trials and tribulations of working from home, Yvette recently spoke to Spark about how to get into, and out of, business, and how to balance home and career.

Tracey Spicer Talks Equality, Family and the Season of Giving

Controversially sacked as a television newsreader shortly after returning from maternity leave, tracey spicer knows better than most the uneven playing field that still exists in the workplace. in a recent interview with Spark, Tracey opened up about juggling motherhood and career, workplace equality and her passionate support of those less fortunate.

You have been a public face for most of your career. What have been the biggest positives and negatives of that situation?
It’s allowed me to take a public stand on issues, to give voice to those who don’t have a profile. I have done this on issues as diverse as voluntary euthanasia, sexism in the workplace, and teen body image. Sometimes people disagree with my opinions, and they make threats against my family. That’s hard, at first. But I’ve learned that people don’t generally follow through on those threats – fortunately!

Keeping It In The Family: For 150 Years!

As the executive chairman of Australia’s largest wholly Australian-owned brewery, the 150 year old coopers brewery in adelaide, glenn cooper offers spark readers his tips for success in creating and developing a family owned enterprise.

You are the Executive Chairman of Coopers Brewery, a business that has been in the family since it was established in 1862. Did you ever consider another line of business?
The Policy of Coopers is that nobody comes straight into the brewery. You go out and do your own thing first. I studied electrical engineering and I worked in a computer company and ran my own company. I didn’t join the brewery until I was 39 years old.

Single Mum To Sizzling Speaker


After an early life of neglect, Stacey Currie was a mother of three trapped in an abusive relationship by the age of 21. Faced with the prospect of changing her life or losing her children, stacey transformed herself into a successful speaker, author and official ambassador for both the Lighthouse and Brave Heart Foundations.

You had a very difficult early life. Can you give our readers a little bit of background to your story?
At the age of 2 months I was court ordered to live with my dad who was in the army (he was forced back home), he had no idea how to bring up children let alone be left alone to bring up two babies aged 2 months and 1 year old (my brother).  I was bought up in housing commission with no rules or boundaries.  At the age of 9 I was sexually assaulted by someone outside the family, at the age of 14 I was living in a shed, by 15 years old I was pregnant, at age 19 I was homeless with my 3 year old and 4 month old baby and at 21 years old I had 3 children and living in a domestic violent relationship.

Million Dollar Magician


Sasha deBretton is an award-winning entrepreneur and CEO of WA renovating company Million Dollar Makeovers, which specialises in fast-turnaround, high-quality renovations for top-end homes. Sasha spoke recently to Spark Magazine about how she has thrived in this traditionally male-dominated industry.

What was your biggest challenge in building the business?
Male dominated. High barriers to entry.  I was doing something very different from the norm (which is to my advantage) however people were skeptical that I could renovate houses of high quality in record timeframes of just weeks and I was taking on the big builders without all the experience I needed. However, I knew my concept and my system worked and would be something people wanted so I decided to launch and then tweak and perfect the system along the way.

The Ultimate Commercial Artist

Will Deague has worked for Asian Pacific Group, his family’s business, since he was a teenager and managed his first development at the age of 20. since becoming CEO in 2008, Will has overseen the creation of the hugely successful ‘Art Series’ boutique hotels. He speaks to Spark about how the company has bucked the trend in the contracting property market.

Did you ever consider another line of business?
It was never a consideration to enter into another line of business. I started on building sites in the school holidays from the age of 13 and I didn’t particularly enjoy studying, or the academic side of things. From day one I have always enjoyed (and been around) the property industry and have enjoyed working with my family members.

Jetting To Business And Fitness Success


You are the owner of Jetts Fitness. Can you give our readers a little bit of background on yourself and the business?
I started in the fitness industry in 2002 as personal trainer, working from a local gym before setting up a personal training studio. After 18 months in the studio the fire was burning to do something bigger, so I raised some debt and purchased the old gym in the area I grew up in. Together with my now wife Cristy, we built the club up before selling it in 2006 to develop the Jetts business plan. In 2007 we relocated from the Sunshine Coast to the Gold Coast to open the very first Jetts club, in the suburban town of Helensvale. The club was a hit, selling out of memberships in 6 months – we knew at that point we were onto something big.

Cancer Survivor and Award-Winning Entrepreneur

Can you give our readers a little bit of your background? How and why did you and Norm start the business? 
Whilst pursuing a different career path, I studied interior design as a hobby and loved it, I always felt that I was destined to create a business from scratch and yearned for it to have something to do with interiors. Due to a lack of interior design services and products in Bendigo, I felt that there was a huge business opportunity. The timing wasn’t right though, as I had just had my first child and was working part time in a job I loved. One day I thought, after I have my family… then a course of events took place that changed everything. I fell pregnant with my second child and at a routine pregnancy ultrasound discovered that I had ovarian cancer.