Grow A Small Business Podcast

Troy Trewin
undefined
Jul 12, 2020 • 44min

From starting on a tractor in 2001 to owning the 130-400 FTE, golf construction business they pivoted after losing all sales in the GFC - adding golf course maintenance, design and renovation divisions (Craig Haltom)

In this episode, I interview Craig Haltom, President of Oliphant Golf Management (OGM). He is an active golf course architect and builder, and has a growing portfolio of high profile golf renovation work in the Midwest. As the lead at OGM, he is very much hands-on and in the field, with a talented team of managers based in Central Wisconsin. He started out on a tractor in 2001 and then in 2013 became 50% owner. Now he owns almost the entire company after buy-out financing from his business partner Mike, who founded the company in 1996. The company provides golf course management, construction, design, and renovation. When the Global Financial Crisis hit in 2008, they went from $40 Million in annual sales to none overnight, with only one of the large golf course and real estate construction projects eventually being completed. In 2009, they built a bridge through the crisis, pivoted and started managing golf courses, now with 12 on their books. Craig's vision was to build a world class golf course in the rare sand dunes of Wisconsin, and right after the crisis, they started building Sand Valley, two 18 hole courses and a put three. With 130 full time employees stretching up to 400 in peak summer season and revenues climbing to around $40 Million a year, they grew organically through profits. He believes the hardest thing in growing a small business is, "Managing time. There's never enough" and the advice he would give himself on day one of starting in business would be to believe in himself no matter what. Stay tuned for more on Craig's super inspirational small business ownership journey. This Cast Covers: Building the biggest putting green in the world that's not attached to an actual golf course. Touching a lot of areas in the golfing industry since 1996 and doing very well. Managing 12+ golf courses in the Midwest, Wisconsin, Illinois, and Pennsylvania. Building Sand Valley while simultaneously starting a golf management company. Transitioning from running a tractor as an employee to owning most of the company. Generating revenues from straight fees, lease/shared revenue deals, and maintenance only contracts. The success in moving from managing everything personally to delegating some of the core tasks to employees. Improving on their marketing activities by hiring a dedicated marketing expert and how it led to the company's growth and success. The difficulty in getting enough time as a business owner to do a lot and do it well. Getting better at guiding against the downside: Standing where the homeruns are versus the risks. The power of systems, team leadership 101, and how they deliver value to their clients. The importance of building a company culture of people knowing each other. Overcoming the business challenges that you go through by always believing in yourself. Additional Resources: How to Fail at Almost Everything and Still Win Big Scott Adams Music from https://filmmusic.io "Cold Funk" by Kevin MacLeod (https://incompetech.com). License: CC BY (http://creativecommons.org/licenses/by/4.0/
undefined
Jul 5, 2020 • 21min

Small business marketing consultant with 25 years experience talks about what marketing is, knowing your 'why' and focusing on the customer. Excellent books, podcasts and tools to help any fast-growing business with their marketing (Toni Kibbey)

In this episode, I interview Toni Kibbey, a subject matter expert on marketing. With over 25 years in marketing, especially in small business, Toni strongly believes if you don't have a customer, you don't have a business. And that's where your marketing should be built around. Marketing is more than a logo or advertising, it's a diverse range of elements, from pricing, people, copy, packaging, and a quality product or service. For small business owners, sometimes a passion can overrule the commerciality or viability of something because you believe in it so much. You must listen to your customers before you start running into the forest looking for trees. In her experience, the biggest thing owners of fast-growth small businesses do poorly in marketing is focus. Which is where your strength (or your why) comes into play. She believes the hardest thing in growing a small business when it comes to marketing is knowledge, time, and budget. The advice she would give a small business owner about marketing on day one is, "Customer: Know who you are creating a service or product for, and who you are going to talk to. Understand who they are, what motivates them, what drives them, and why they're going to choose you" This Cast Covers: Coaching small businesses and startups in their marketing and understanding their consumers. The importance of marketing when growing a small business. Getting the optimal price point so you maximize your gross profits. Developing both your brand strategy and marketing strategy, and how powerful marketing can be for your business. The one thing small business owners focused on growth do really well. How passion and innovation can sometimes get in the way of focus. Joining a networking group to gain access to tons of resources and create a voice in your industry. Knowledge, time, and budget: The hardest thing in marketing a small business. The role of strategy and knowing your customer in ensuring success in fast growth. The magic in finding out 20 reasons why your customers choose you. Additional Resources: Toni's email - toni@elementco.com.au The Brand Gap By Marty Neumeier Start with Why By Simon Sinek Seth Godin Gary Vaynerchuk Music from https://filmmusic.io "Cold Funk" by Kevin MacLeod (https://incompetech.com). License: CC BY (http://creativecommons.org/licenses/by/4.0/
undefined
Jun 28, 2020 • 30min

Idea from a sign in a French restaurant, sold his software dev business and coded the 1st version in 2014, aged 29. From 1 FTE to now 22 they have 1,400 restaurants using their unique product in 60 cities across 8 countries (Mat Weir)

In this episode, I interview Mat Weir, a tech entrepreneur and the founder of international table booking service, First Table, the only company in the world focused on helping restaurants get their first customer for the night. Mat got the idea to start the company after seeing a sign in a local French restaurant in Queenstown, New Zealand. First Table charges the customer $10 per booking and the customer gets 50% off their food at the venue. After selling his software development company in 2014, aged 29, he built the website, opened with ten restaurants in Queenstown and is now in 60 cities across 8 countries and 1400 restaurants with a goal to hit 10,000. The company has grown from one full-time employee, himself, to now 22 based in New Zealand, Australia, Canada, UK, and the Philippines. They're looking to expand their product into North America, and Europe soon. Funding has been from sweat equity and the growing profits from a very scalable business model. Mat says when building your board of directors or advisors, start with a great chair and build a board around them. He believes the hardest thing in growing a small business is, decision making fatigue (Making a lot of decisions on the fly as you go). The advice he would give himself on day one is, "Mate, you're in for a shitload of work, but it will be worthwhile". Stay tuned and enjoy. This Cast Covers: First Table: The only company in the world that specializes in getting people into restaurants at the beginning of the evening How First Table helps restaurants get diners and create a great atmosphere. The unique business model they use to make money from having 1400 restaurants in 8 countries on their platform. Being a tech entrepreneur from a young age and thriving on several tech-oriented businesses. Starting out 6 years ago as a solo founder with 6 restaurants signed up and growing to 1400 restaurants across 60 cities in 8 countries and 22 full-time employees. Working hard to build their platform and having some of the best restaurants signing up. Building a globally recognized brand that is the only one in the world doing what they do. Bootstrapping from day one and funding the business solely from cash flow. Launching in other countries in North America, the UK, and other markets. The challenges of starting out in business and the worth that comes from forging on towards the core goal. The importance of having persistence and a plan B just in case. How being a developer has helped him grow the business. The value of automation in ensuring effective processes and employee productivity. The challenges of trying to scale up and make things more efficient on the platform. Shifting from being just a developer and a one man band to learn sales. The power of time management and optimizing your output to time. Committing to bringing on business development experts and how it helped in achieving hiring successes. The value of monitoring employee happiness and engagement levels in building a great culture. Plans to launch in Manilla and how their local presence there will help in building out a sales and marketing team. Consulting mentors who can give valuable business management and growth advice based on their years of experience. Decision-making fatigue: The exhaustion that comes with making so many decisions every day as a small business owner. The power of Facebook ads in growing a business. Additional Resources: Blitzscaling By Reid Hoffman and Chris Yeh www.Medium.com Music from https://filmmusic.io "Cold Funk" by Kevin MacLeod (https://incompetech.com). License: CC BY (http://creativecommons.org/licenses/by/4.0/
undefined
Jun 21, 2020 • 43min

In late 1999, started a developer code sharing website from his bedroom, and 6 months later was acquired by internet.com - a NASDAQ listed company. From 1 to 15 FTE, grew from 3,000 to 3M active users per month to maximise his exit (Mark Fennell)

In this episode, I interview Mark Fennell who in late 1999, from his bedroom in Sydney, started a developer code-sharing website and the now-defunct, Flash Animation Technology. Three months later, he approached Internet.com, a NASDAQ listed company asking if they would like to buy his one-person company. From their positive response, he scrambled to partner with a tech company in Tasmania to not only look bigger to his suitor but also bulk up the team and support the fast growth needed to maximize his exit. Only three months after that cheeky email and six months after his start, Internet.com acquired the business with a twelve-month earn-out paid on active users in twelve months' time. Mark and his team of 15 full-time employees grew active users from 3,000 to 3 Million a month only a year later. Two months after the payout, the 2001 tech wreck happened. Mark was able to travel the world for a few years having sold his very fast-growing tech company within 18 months of starting it in his bedroom. He believes the hardest thing in growing a small business is managing time, and balancing with friends, partners, and your kids. The advice he would give himself on day one is legal advice, "Make sure you read contracts and understand them, and stay away from Crypto trading like Bitcoin" Stay tuned for more of his amazing small business journey. This Cast Covers: Starting a web design company and trying to teach people what the internet was. How FlashKit came about and the value it offered to the market at the time. Being in a growth mindset and the cheeky approach to Internet.com that worked out perfectly. Starting with 3,000 unique visitors per month and growing to 3 Million unique visitors per month and 600,000 active users on their forum. Seeing the monthly incremental growth of their traffic and the impact of having the opportunity to innovate. Knowing when to exit the company just before the DotCom bubble burst. What success looks like for Mark and how he enjoys working in the game development industry. Funding the business through structured deals and the current opportunities in the tech space. Being the idea person and the preference of working with people who are good at running a business. The time consumption that comes with a business's fast growth and how to deal with that. Understanding how to work towards a successful exit The importance of a small business owner learning how to maintain balance. The mistake of hiring out of desperation and how to build a kick-ass culture by listening to the employees and leading by example. Learning how to sell yourself as a business owner and some of the tools Mark uses to ensure he stays efficient and productive. Reading and understanding contracts before you sign them and the importance of consulting a professional where you don't understand. Additional Resources: The 4-Hour Work Week By Tim Ferris Music from https://filmmusic.io "Cold Funk" by Kevin MacLeod (https://incompetech.com). License: CC BY (http://creativecommons.org/licenses/by/4.0/
undefined
Jun 14, 2020 • 46min

Late 2011 convinced her partner and another friend to quit their architectural jobs and found the internationally acclaimed Cumulus Studios, from $55k first year revenue to now $3m and 18 FTE after starting with 4 founders (Kylee Scott)

In this episode, I interview Kylee Scott, a director, and the studio manager at Cumulus Studio. After leaving a leading architectural firm to work for a large engineering company, Kylee saw how profitable a well run professional services company can be, so she convinced her partner in Hobart and a best friend to quit their architectural jobs and in late 2011 started Cumulus studios, a national and international award-winning firm. Starting with 4 full-time employees and two of the founders working other jobs to pay the bills, they quickly grew to 18 with more than half of those females. Adding an office in Melbourne and working around southeast Asia and Australia, revenue exploded from $55,000 in 2012 to now $3 Million. In 2020, Cumulus was named one of Ten Small Architecture Firms To Watch from a leading New York architecture magazine. They have continually funded their growth from their initial savings and now profits. Kylee invests a lot in professional development and their culture, and she believes the hardest thing in growing a small business is maintaining work-life balance especially when working with your life partner. The advice she would give herself on day one is, "Don't try and work everything out on your own. Get mentors" Stay tuned for more on her amazing business ownership journey and the insights she has to share. This Cast Covers: Creating unique buildings, master plans, and spaces within a team of architects, project coordinators, and designers. Their specialization in creating and delivering unique projects instead of specializing in one sector, and how that has aided in their growth. How she learned the operational dynamics of running a professional services company to later on start Cumulus Studio with her partner. From one full time employee to 24 and $55,000 to $3 Million in sales within an 8 year period. Experiencing the feeling of success by visiting one of their completed projects after all their combined hard work. Gaining international recognition for their amazing projects and being named one of the 10 small architectural firms to watch in 2020. Bootstrapping: Working other jobs and using their savings to start the business and currently running solely on cash flow. Ensuring the office culture is not too friendly and giving priority to personal mental and physical wellness. The importance of having efficient cloud-based systems and assistants in place and delegating. The excitement that comes with fast growth and the pain of finding affordable and flexible office space. Going through a branding update process and how it's enabled the founders to embrace each other's differences. The significance of a business owner developing a habit of keeping a really good eye on the cash flow and forecasting. Setting high standards for their employees and extending their probationary period for new hires from 3 to 6 months. Consuming relevant podcasts and gaining from partly studying three units in an MBA setting. Maintaining a work-life balance when one's business partner is also their life partner. Additional Resources: Clockwork By Mike Michalowicz Freakonomics Podcast Radiolab Podcast Without Fail Podcast Cautionary Tales Music from https://filmmusic.io "Cold Funk" by Kevin MacLeod (https://incompetech.com). License: CC BY (http://creativecommons.org/licenses/by/4.0/
undefined
Jun 7, 2020 • 50min

In 2002 moved back from London to buy a cafe restaurant in Hobart. Sold that in 2009 and started two cafes and a Mountain Bike Tour business. Grew from 5 FTE to now 20 and over $2m in annual sales (Jon Stagg)

In this episode, I interview Jon Stagg, the Founder/Owner of Atlas Cafe, The Stagg, and Hobart Mountain Bike Tours, all based in beautiful Hobart, Tasmania. After years working in banking and IT, in a blanket in the Wimbledon Common in London, where the Wimbles live, Jon and his wife decided to move back to Tasmania for more space and a better lifestyle soon after their first child arrived. In 2002, aged 32, they bought a small cafe restaurant in Hobart and sold it five years later. After a couple of years back working for the man, they got the small business itch again and in 2009 set up Atlas Cafe, and then in 2016, The Stagg, a successful cafe. With both cafes running smoothly and needing little of their time, Jon decided to start Hobart Mountain Bike Tours, which has had mixed success. Their funding was solely from their own savings initially, then a small bank loan for Atlas Cafe later on. Starting with 5 full-time employees in 2002, they now have around 20 in the team, and over $2 Million in annual sales, with most of that coming from the two cafes. Jon says a business owner should use a new employee's probation period to ensure they are a good fit, especially culturally, and employ the no dickhead policy. He admits that that has dramatically changed the way he manages people. He believes the hardest thing in growing a small business is, "Staff, Staff, Staff" and the advice he would give himself on day one is, "Dont be scared, jump in with your boots on. You're going to make mistakes. Don't be scared to make mistakes. Believe in yourself. Do it". Listen in as Jon shares his years of experience in small business ownership, and I promise you you will leave wiser as you seek to grow your own small business. Enjoy! This Cast Covers: Leaving the IT and banking industry to venture into small business ownership. Succeeding in an industry that is tough to run well and make money from. Starting the mountain bike tour business and the extreme challenges they're currently facing. From turning over $300 when they started The Stagg, to the current weekly turnover of $20,000. Building a team of 20 full-time employees spread across their three businesses over the years they've been in business. The analogy of paddling in front of the wave and how it applies to business ownership. Gaining time freedom by successfully detaching from the daily operations of the businesses through setting up effective systems. Grappling with the low margins, dealing with a usually young staff, and the terrible staff retention rates in the industry. Bootstrapping at the startup stage, getting a small bank loan later on, and currently getting interest free funding from the government to set up a third (catering) business. The vision: Working on setting up a mountain biking lodge. Communication issues and the pain of letting employees down as a business owner. Investing in proper accounting and bookkeeping to add the greatest value to the business. The beauty of running a business in the hospitality industry for Jon. Learning to be more accommodating and understanding of his staff and how that has benefitted his business in the long run. The importance of keeping an eye on the numbers and having a probation period for every new hire. Getting the Guinness Book of World Records win for the most number of cappuccinos made within an hour. Attending coffee events and conferences to network in the industry and learn different techniques. The regret of spending too much time in the business focusing too much on the money. How to build a hospitality business and be able to get out of the day to day operations. Believing in yourself, not fearing mistakes, and going all-in on your dream business. Additional Resources: Setting the Table Podcast By Danny Meyer The Renegade Server By Tim Kirkland Winning Every Day By Lou Holtz Talking Tourism Freakonomics Small Business Big Marketing By Tim Reid Music from https://filmmusic.io "Cold Funk" by Kevin MacLeod (https://incompetech.com). License: CC BY (http://creativecommons.org/licenses/by/4.0/
undefined
May 31, 2020 • 39min

In 2006 quit a senior job at Telstra to start a video tech business using little start-up capital with two other Founders, now a team of 90 and $15m in annual revenue growing 20% - 30% per annum (Christopher Stenhouse)

In this episode, I interview Christopher Stenhouse, the Co-Founder and former CEO of Switch Media, one of the world leaders in OTT (internet) content streaming. Switch Media designs, develops and delivers tailored IP video solutions for a diverse range of industries Christopher started the company back in 2006 when he was 43 with two other founders, just after quitting a mid-level management role at Telstra. Some of their 30 clients include Foxtel, The Australian Government (Including helping two Prime Ministers create videos for their campaigns), and AVC Media, who they built the original video platform for. 14 years on, they now have a team of 90, $15 Million in annual revenue, a growth of 20% to 30% per annum, and 4 offices across Australia, New Zealand, Sweden, and the UK. He undertook professional development through negotiation training at INSEAD MBA, the number one business school in Europe. Before stepping down as CEO in 2018, he put a heavy focus on sales leadership, especially since the other founders had those skills. He emphasizes the need for communication in every business and recommends hiring people one likes over people with more skills because nice people can be trained. He believes the hardest thing in growing a small business is, "When you're small, you're nimble and quick to pivot, but as you get bigger, you need processes and structures. Find a way to handle your larger distributed team without losing your nimbleness." The advice he would give himself on day one is, "Focusing on what is important, not urgent, and stay alert to what's changing in your broader market. Be ready to pivot in case it does, and it almost definitely will." Stay tuned for more of his actionable advice on how to grow a small business into a hugely successful and profitable giant. This Cast Covers: Starting a worldwide successful online video B2B SaaS business. From mid-level manager at Telstra to taking on a lifelong interest and thriving at it. How their business survived during the global financial crisis. Growing the company from nothing to $15 Million in revenues over a ten year period. Expanding into international markets and establishing offices in those locations. Helping Kevin Rudd and Julia Gillard create YouTube-style campaign videos and seeing a million dollars for the first time. Success in having a profitable business and a team that loves what they do. The efficiency in self-funding the business through personal savings and investments from family members. What Christopher would have done if he had a huge chunk of funding when starting out in business. The most stressful point in their small business growth journey. The importance of having a shareholders' agreement before starting out in a partnership business. Demonstrating consistency as a business owner and the impact that has on employees. Improving on his sales skills to contribute more to the company's overall success and the learning experience that it was. How a business owner loses contact with their team members when their business grows bigger. The difference between the business that a business owner starts and the one that they end up running. The value in recognizing the difference between an urgent task and an important one. Top HR Tip: Growing from zero to 90 staff by employing people they like. The role of communication in building a sustainable and kickass culture. Getting an MBA in France and being able to successfully apply it in business. The invaluable nature of having an independent board of advisors. The process of stepping out of the CEO role while still staying on as a shareholder. The power of a robust cashflow forecast in growing a small business. Focusing on the important tasks, staying alert to what's happening in the broader market, and being ready to pivot the business if the wind changes. Additional Resources: Negotiation Evolved By Filip Hron The Best in Corporate Negotiation Training INSEAD MBA Music from https://filmmusic.io "Cold Funk" by Kevin MacLeod (https://incompetech.com). License: CC BY (http://creativecommons.org/licenses/by/4.0/
undefined
May 24, 2020 • 34min

Over a beer at uni 3 friends started a forest management business in 2001, now with 125 FTE and $20m - $30m in sales. Diversified into value-adding wood products they now also harvest trees from the depths of a lake in Tasmania (David Wise)

In this episode, I interview David Wise, a Co-founder, and Director at SFM Environmental Solutions Pty Ltd, a professional forestry business that provides forest management and consultancy services to a range of clients in Australia and New Zealand. David and his 2 partners started SFM back in 2001 when he was only 25. They were having a beer at the Uni bar and they decided to start a business instead of getting real jobs. With financial support from friends and family, and almost 20 years later, they have a team of 25 full-time employees, and 100 sub-contractors, and an annual turnover of $20 Million (projected to reach $30 Million in 2020). The company has two offices in Tasmania, one in Queensland and another in New Zealand. Two years after starting SFM, the three launched a risky but innovative subsidiary business called Hydrowood, a wholly-owned subsidiary of SFM that salvages Tasmanian specialty timbers standing underwater for decades in man-made hydro-lakes and creates timber products for bespoke joinery, furniture, and high-end architectural applications. They have one customer on the mainland that buys 95% of that unique product. The state government provided a $250,000 grant to test the Hydrowood idea and the Australian government a further $5 Million to take the venture to reality. The founders guard recruiting carefully with a no dick head policy and put their culture first (Hire smart, like-minded people as you can train them). David believes the hardest thing in growing a small business is, "Have the courage to do it, get financial management under control, and make sure you have something people wanna buy. The advice he would give himself on day one is, "Work hard, don't give up, and focus. Don't diversify, Specify" It's going to be a super insightful episode you won't wanna miss as David shares some of his business ownership wisdom. This Cast Covers: Starting SFM and coming up with the innovative idea for HydroWood. Pulling old trees out of dams and lakes to process them. Bootstrapping and growing the business organically for the last 20 years to reach $20 Million in annual turnover with a projected $30 Million turnover in 2020. From 3 full-time employees to 25 full-time employees and 100 sub-contractors. The business ownership success in being able to pay yourself and hire a team. Getting funding from the government, the three Fs, and holding stock. The fun and excitement of innovating and doing something that no one has done and made it work. Becoming a leading brand in the architecture/wood space, surviving through the global financial crisis, and doing well during the COVID-19 pandemic. Some of the most stressful points they had when they were starting HydroWood. Adopting some patience and learning not to micromanage people. The importance and challenges of keeping on top of logistics and financial management. Focusing on culture when hiring people and how it helps new hires fit into the company. Learning about discipline and decision making from taking a lot of aviation-related professional development. Taking a company directorship course and the valuable learnings of holding a chairmanship role. Growing your business by surrounding yourself with people who are smarter than you. The power of focusing on one thing that you're good at. Additional Resources: Losing My Virginity By Richard Branson Small Business Big Marketing Podcast Music from https://filmmusic.io "Cold Funk" by Kevin MacLeod (https://incompetech.com). License: CC BY (http://creativecommons.org/licenses/by/4.0/
undefined
May 17, 2020 • 50min

Quit 20 years in the wine industry in 2010 with 1 FTE, now across 3 cask businesses has a team of 30, with 20 of those coopers. Grew from 80 casks initially to 20,000+ in FY19, while pivoting from 100% wine to now 90% spirit customers (Darren Lange)

In this episode, I interview Darren Lange, the founder and managing director of the Tasmanian Cask Co., one of the leading suppliers of casks to the Australian whisky industry. His entrepreneurial journey started in 2010 after 20 years in the wine industry and aged 41. He decided to go out on his own and form a company called Master Cask, which was on-selling casks coopered overseas solely to the wine industry in Australia. A cooperage manufactures the wooden casks or barrels that wines or spirits are aged in. A 3000+ year craft, it is still a very manual process to date. Starting out with one full-time employee, his mum soon joined him to help with the business administration and now his three businesses have a team of around 30, with just over 20 of those being expert coopers. In 2014, he formed the Tasmania Cask Company and a few years later acquired a customary competitor in South Australia now named Australian Coopers. He got money to fund his business from the 3Fs (Friends, Family, and Fools) until an investor bought into the business in 2015. That investment helped propel sales from 80 casks in 2012 to more than 20,000 in 2019, with 90% of those sold in the spirits industry. Darren admits that excellent communication, a kick-ass team, and an investment in R&D and innovation are at the heart of managing the three businesses' success. He believes the hardest thing in growing a small business is cashing in on people, and the advice he would give himself on day one is, "Not to be hard on yourself. Take the time to celebrate the wins and celebrate them with the people around you. Remember when starting out, the bigger opportunity, the harder it will be." This Cast Covers: The first whisky in the Southern hemisphere to win the Best Single Malt whisky in the world and the impact that had. From representing coopers from around the world to owning his own cooperage producing barrels for various distillers of wine, whisky, and more. The age factor in starting his own business and his business ownership backstory. The cyclic nature of the wine industry, the challenge it presented for cash flow, and how he overcame that. Their current cask output: Growing from 80 barrels a year to over 20,000 barrels just for spirits. Investing and committing to continuous innovation in order to add a huge amount of value to the industry. Funding the business through support from family, friends, trade credit, and investors. Working with distillers to provide just the right application of oak in the maturation process to produce a great and effective product. The challenge of investing in oak in terms of holding up capital for long periods of time. Building the cooperage skill set in modern Australia and how the spirits industry helped in that. The importance of communicating with the staff on how the business is doing and making sure they share in the dream. Cash flow: The one thing that Darren enjoys the least about managing fast growth. Understanding the numbers and not being too hard on yourself. Darren's hiring tips and advice on how to build a kick-ass culture. Music from https://filmmusic.io "Cold Funk" by Kevin MacLeod (https://incompetech.com). License: CC BY (http://creativecommons.org/licenses/by/4.0/
undefined
May 10, 2020 • 52min

Aged 24 he grew the team from 4 FTE in 2014 to now 11, sales from $50k to $2.3M AUD per annum with an online 6-month professional boot camp for young people. Participants have climbed from 14 in the first year to now 100+ annually (Cameron Sorsby)

In this episode, I interview Cameron Sorsby, the CEO at Discover Praxis, an online career boot camp business that offers content, weekly meetups, mentoring, and project-based learning to entrepreneurial young professionals that Cameron started in 2014. Starting off with 14 participants, the boot camp has always focused on soft skills and mindset (not education for any specific role or industry) that expose them to most corners of the business so they can find and then hone their professional passion. At the end of the course, they're placed in fast-growing companies seeking talented young people with what they have coined as "Forward tilt" (Young professionals who want to add real value, have initiative, and a sense of urgency) At age 24, Cameron helped found the business, growing it from 4 full-time employees to 11 full-time employees within 6 years. With $12,000 for the 6-Month course, first-year revenue grew from $30,000 to around $1.5 Million in 2020. Since 2017, they've had over 100 participants a year and maintained a 90% graduation rate. The next stage of growth for them is ramping up their marketing while maintaining higher product quality aiming at reaching the 500 participants a year mark. Their funding was from bootstrapping for the first year and a half after which they took on $500,000 in investment in 2015. Cameron believes the hardest thing in growing a small business is persistence; the longer you go, the more likely you will survive and thrive. The advice he would give himself on day one is, practice patience. Stay tuned for more of his business growth insights. This Cast Covers: Helping young professionals become ninjas in their workplaces. The skills and mindsets that enable participants to become entrepreneurial employees. Working with companies that are willing to take a chance on young talent. Their multimodal course structure and delivering it online, through an alumni network and meetups. The number of fees they charge per participant and where the original idea for Discover Praxis came from. From 14 participants in year one to 100+ participants in 2017, and a projected 500 participants in 2020. Fine-tuning their offering and maintaining the quality while building on their marketing and sales. The importance of having the right talent and strategies for the business stage one is in. Focusing more on learning so they can have a tighter game plan. Constantly looking for the next challenge instead of getting caught up on the level of success. Falling in love with the day to day processes of everything and the great outcomes that can come from that. Getting a $500,000 seed round funding from small family offices. Dialing in on their customer service to create more value for participants. The most stressful point in his small business growth journey. Cameron's biggest mindset shift and how it helped him grow the business exponentially. The value in a small business owner having strong team management skills. Valuing and pursuing professional development. Additional Resources: Zero to One By Peter Thiel My First Million Podcast Music from https://filmmusic.io "Cold Funk" by Kevin MacLeod (https://incompetech.com). License: CC BY (http://creativecommons.org/licenses/by/4.0/

The AI-powered Podcast Player

Save insights by tapping your headphones, chat with episodes, discover the best highlights - and more!
App store bannerPlay store banner
Get the app