Just as a forest begins from a single seed, every major corporation develops from the idea of a single individual. And while building a business from scratch is no walk in the park, it is nonetheless a rewarding journey.
BD talks to those who acted on their entrepreneurial streak to uncover just what makes - and breaks - the growth of a business.
Keep your ears open
Kevin Murphy is adamant that listening to the experts is the only way to ensure success and avoid major pitfalls. The renowned Australian hairdresser (and founder of his own haircare label ) suggests: “Surround yourself with people who are good at what they do and then make sure you listen to them. If somebody tells you to make a toiletry bag in neoprene, then you make it in neoprene.” He admits he didn’t always take his own advice. “At first I didn’t want to listen to what other people thought was best. But I learnt along the way that suggestions are made for a reason.”
co-founder George Lambropoulos agrees that good, professional advice is integral to business growth and structure. He says: “Get good advice, get legal advice, and ask people for help. I am forever asking people I trust for advice.” For director Michelle Doherty, this comes in the form of someone inspirational - she believes that for young entrepreneurs, “guidance and advice from a mentor is invaluable”.
Murphy adds that rather than becoming a multi-talented staff member, it is important to master one thing, and work alongside those who can bring something else to the table. This mentality is similar to that of Australia co-creative director Joey Scandizzo, who believes it is important to “surround yourself with people you trust”. He says of the brand’s growth: “With ELEVEN Australia particularly, we grew very quickly because everyone knew the part they had to play and we were all working towards the same goal.” Scandizzo believes organising your business this way helps you to work smarter, not harder.
Start small
As the saying goes, ‘slow and steady wins the race’, and patience is key to allowing an idea to flourish into reality. Lambropoulos agrees, saying: “My biggest advice to everyone is that if you have a great idea, don’t take shortcuts. Do it properly, and take one step at a time.” Vanessa Grey of homegrown line is in agreement. She says of her own experience: “Start small and grow with the business. – I started Vanessa Megan in my apartment. It was financially viable to have an extra room and I only moved when my apartment was overflowing with orders and I absolutely had to move to bigger premises. Even then I found a small warehouse that I could afford, before I moved again to a bigger warehouse etc. Upsize within your financial means.”
Take the leap
Great success comes with great risk. Scandizzo is firm in his belief there is no way to know what works without giving everything a good shot. He says: “Everyone has their own take on how to manage their business from the start; there is no definitive answer. However, determination, drive, and employing the right people are key to getting it right straight away. My philosophy is about ‘having a go’ - you’ll make mistakes along the way but some risks can have the ultimate pay-off.”
For Lisa Bronner, this means being open to new possibilities. Despite being the fifth generation of the successful soap-maker , Bronner had no intention of entering the business. The company only became a family affair after a series of unexpected events offered an opportunity to continue to run the business themselves or to sell it off. Though it was a daunting prospect, the Bronner brood chose the latter and threw themselves into an industry in which they had no experience. “Of course, when we were presented with the company, we thought ‘why not’. But we each came from a place with little to no expertise to bring to the role - I mean, I was a high school English teacher before I joined the company. There was a lot of learning on the job for all of us.”
Keep the passion
Grey argues that passion is integral to following through with any kind of entrepreneurial inclination. She says: “Believe 1000 per cent in your business idea – having faith in your business idea and knowing it is unique will help drive the creative side of the business.” Scandizzo agrees, saying all owners should “have a clear vision of the brand you want to create and commit to it”.
Doherty expands on this, saying top requirements for building any business are: “Perseverance - you have to believe in what you are doing and continuously move forward, despite roadblocks. Passion - you have to love what you do. And vision - think big, holistically, and determine where you want to take the business.”
A huge part of keeping the flame burning for your brand is ensuring creative integrity is never lost. Murphy says of this: “It is important to maintain control over your own creation. While you should take advice, be mindful of what you wanted at the start and don’t let anybody pressure you into relinquishing an idea or control. I’m on top of everything that is created and produced within my company.”
Find a point of difference
As Grey explains it, you should “test the market. Even if you believe you have a great business idea, it may already sit in a saturated market. Test the business idea with friends and family and friends of friends to get an honest opinion to see if there is viability in your business idea. Market research and surveys are also a great way to test the market.” Doherty agrees wholeheartedly, advising would-be entrepreneurs to “identify a gap in the market and fill it”. This is exactly what she did with Alpha-H: “It started with a lack of empathy and accountability from the multi-nationals whose formulations did not address problem skin. This created a window of opportunity for Alpha-H to create products that not only gave results but also pushed the boundaries.”
Dr Bronner’s line is an excellent example of making your mark. It was founded on an idea that was considered quite ‘out there’ at the time. As Bronner explains it: “Can you imagine how crazy it would have seemed to have a German Jew shouting about the benefits of eco-friendly soap to America in the 1920s?!” But his passion has led to the formation of a company that has continued to grow thanks to its creation of eco-friendly, chemical-free formulas. This attribute made it shockingly different from other products in the marketplace in the first half of the 20th century.
‘Business’ may be a word synonymous with failure, but the possibility of its success far outweighs the fear associated with making the step from entrepreneurial idea to action.
