beyond the books: where to start when you’re starting a business

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Page 1: Beyond the Books: Where to start when you’re starting a business
Page 2: Beyond the Books: Where to start when you’re starting a business
Page 3: Beyond the Books: Where to start when you’re starting a business

By vetting people for passion, purpose and personality we are able to create spaces that inspire an epic community to create epic change.

Epic people creating epic change.

Page 4: Beyond the Books: Where to start when you’re starting a business

The Story…

Page 5: Beyond the Books: Where to start when you’re starting a business

155 Queen Street: The Capital

155 Queen St: The Capital

Page 6: Beyond the Books: Where to start when you’re starting a business

The Future.

Page 7: Beyond the Books: Where to start when you’re starting a business

User centric design User-Centric Design

Page 8: Beyond the Books: Where to start when you’re starting a business

The first thing you need to truly consider…What exactly are you doing it for?

Is it to free up time?Entrepreneurship?Become a unicorn?Follow your passion?Create another revenue stream?

These are all very different kinds of business.

What it actually takes to succeed…

Page 9: Beyond the Books: Where to start when you’re starting a business

Follow through Burn the boats   It is all about who you

know Hunger for knowledge Strategic agility Do anything to make

the sale, just make sure you deliver afterwards

The Entrepreneurial Mindset

Efficiency Problem solving Know thy enemy Customer experience Done is better than

perfect No such thing as talent Drawing a line in the

sand Accelerated learning

Page 10: Beyond the Books: Where to start when you’re starting a business

Jock Fairweather

SERVICESJock and Little Tokyo Two

• When LT2 was started, Jock didn’t even know what co-working was.• He bought a place to solve problems his friends were facing in business.• The work became too much for one person and he had to figure out how to get more ‘members’ to employ more people to help.• The value of LT2 is the contacts and vetted community that it has curated.• Jock had 3000 1-on-1 meetings in the first year of LT2 to promote the benefits of LT2.• He also had 1500 1-on-1 meetings with influential people in Brisbane to get support from respected businesses.

Page 11: Beyond the Books: Where to start when you’re starting a business

Maha Sinnathamby

COMMUNITIES & PLACESMaha Sinnathamby and Springfield

• Identified a 2860 hectares of inhospitable, inaccessible land in an economically depressed region in Queensland.• Without a dollar to his name, negotiated his way into a land sale of

$8,000,000; with only 12 months to secure the initial $3,000,000.• Managed to raise the necessary $3,000,000 and entered into strategic

conversations at all levels of Government• Passed the Springfield Act (QLD) with all 89 parliamentarians in favour of his

master planned city.• Sold 293 hectares of land for $3,000,000 (wrote off all debt) and finally

had clear ownership over the land in it's entirety.• 20 years after the land was initially secured, Greater Springfield

became home to over 20,000 residents, with a project expenditure of over 10-billion, while still only 10% developed.

Page 12: Beyond the Books: Where to start when you’re starting a business

SOFTWARE MARKETPLACESMike Trussler and Plantminer:

• In 2012 Michael was a civil engineer doing FIFO work in North Queensland and had no idea what a tech company was.

• Had an idea to solve a huge procurement headache he and many other of his colleagues had while working as an engineer.

• The idea came to life in 2013 after connecting with his business partner – 20,000 calls in 6 months later and PlantMiner was born.

• Since 2013 PlantMiner has raised 10m in 4 rounds of capital raising and employees over 70 people .

• PlantMiner has grown to be the largest online construction marketplace in Australia and New Zealand.

Michael Trussler

Page 13: Beyond the Books: Where to start when you’re starting a business

Ryan Tattle

HARDWARE/PRODUCTSRyan Tattle and Uthermic

• To truly innovate, Ryan believes that it has to come from a real world problem derived directly from real people rather than focus groups or market research.

• From experiencing and seeing the restrictions that temperature can have on people in their day to day lives, Uthermic wants to create a world where temperature has no limitations on the human experience.

• Testing and feedback is key. There were just over 8000 people in their target market that they engaged with and learnt from right from the start. Their goal was for a 50% acceptance rate from potential consumers.

• Uthermic’s minimum viable product was launched after nearly 2 years, 37 different iterations, 25 testing locations in 10 countries and $200,000.

Emma Bell
Suggest changing the wording of these slides to third person.
Page 14: Beyond the Books: Where to start when you’re starting a business

Common Mistakes

• Hiring too quickly

• Over-estimating revenue forecasts

• Under-budgeting costs

• Trying to be everything to everyone

• Selling out

• Thinking I knew it all

• Lack of patience

•Communicating while in a bad mood

• No focus on personal life

• Degradation of mental health

Page 15: Beyond the Books: Where to start when you’re starting a business

Important Lessons

1. Mentors are a must2. Working from home full-time doesn’t work3. Team is everything4. Sleep is vital5. Morning rituals are a must6. Never conform7. Know your strengths and weaknesses8. Be open to feedback9. Question everything 10. Work on patience11. Hire on cultural contribution12. Must know everything about your competition

Emma Bell
typo - change to 'home'
Page 16: Beyond the Books: Where to start when you’re starting a business

Important Lessons Contd.

13. Do some work on the weekends 14. Cut things and move on15. Bet everything but the house16. Understand your why17. Karma is real18. Consistency is key19. The worst they can say is no20. Transparency21. Hire wizards part-time22. Use your customers as your growth metric23. Business is about margin and line items

Emma Bell
typo - change to 'home'
Page 17: Beyond the Books: Where to start when you’re starting a business

In Summary

The world needs creatives and the world needs doers.But most of all the world needs creative doers.

Page 18: Beyond the Books: Where to start when you’re starting a business

1. Vision2. Problem solving3. Ideation4. Validation5. Prototyping6. Sales

Next Steps:

Page 19: Beyond the Books: Where to start when you’re starting a business

1. Slack2. Trello3. Feedly4. Google Drive5. Tech Crunch6. Tech in Asia7. Audible8. Startup MVP www.thunderlizards.com.au/startup-mvp-program

Tools

Page 20: Beyond the Books: Where to start when you’re starting a business

Fire away!

Q&A Time

Page 21: Beyond the Books: Where to start when you’re starting a business