Recently Business Chicks posted on its FaceBook page an open invitation ‘what would you ask an entrepreneur if you had the chance?’ Well that is para phrasing really… but I thought I would tak on answer the questions posed.
Q: Sarah Louise What is the one piece of advice you were given as you were starting out that you would pass onto others?
A: Hi Sarah, the one piece advise – or the one question I ask anybody who is starting out is ‘Why?’ be really clear about why you do what you do… and no one will be able to slow you down.
Q: Jillian Kingsford Smith How do you manage to fit it all in?” ie life, work, fitness & family?
A: Hi Jillian, Who said we fit it all in… my kids probably think I’m a lousy mother, my dog definitely claims he is neglected… (Janine Allis told us that her husband claimed she was a ‘laptop’ dancer.) Even if I don’t have a lot of time… I do make sure I am focused on what I am doing at the time, and really listening to whoever I am with. There is no point yearning to be somewhere else or playing the guilt game. We too are muddling through the best we can. My personal motto is ‘if it is meant to be it is up to me’ – so there is no point making the blame game. Work out what is really important, what you are best at, and get help with the rest. (I’d like to outsource fitness quit frankly – but apparently there are some things we do have to do ourselves.)
Q: Toni Bramley After being screwed by 3 different website designers I would ask Naomi what’s the 2 most important questions to ask when choosing a design firm
A: Hi Toni, Web development and design can be tricky… I am not much help here. I had a similar frustration with external consultants in my early days. So I had to bring it in house. A web developer was the first hire at RedBalloon. We now have a whole bunch of professionals completely dedicated to design, database, architecture, User Interface, programming and other things I did not even know existed. The RedBalloon website (have you seen the latest version) is so critical to who we are – we wanted to have these very precious people in house. Sorry not much help here really.
Q: Fran Blake What do u believe ur #1 personality trait is that has helped u succeed?
A: Hi Fran, I’d say my #1 trait is persistence, resilience and naivety… (is that one?) I truly believed in what we do, I never ever doubted it, and I had fabulous support. Maybe my best trait is gathering an amazing team.. and aligning them to the vision
Q: Angela Sedran What’s the most cost-effective way to get your brand out there?
A: Hi Angela, The best way to get ‘it’ out there, cost effectively, is to deliver an exceptional customer experience. The cheapest and most authentic marketing is having other people talk about you. And they will in spades if they have something worth talking about.
Quite happy to answer any questions… so do keep them coming
Imagine running a business based on fun - that's what I decided to try when I left a very serious corporate career in marketing to set up RedBalloon...
7 Comments
Hey Naomi – thanks for the great words of advice and I totally agree with your comments re outsourcing. As I grow my business, I try to do everything… as I believe that the clients put their trust in me… but its not scalable or sensible. I have recently taken on 2 fabulous marketers & I’m learning to utilise them more – and this free’s up my time.
Now to outsource the silly things at home that I dont enjoy doing anyway… like ironing, cleaning, using the treadmilll….hmmmmm!
Thanks again.
Hi Naomi
A couple of financial questions for you. Start-up funds!! Did you have good financing to start your businesses or did you do it on a shoe string to start with? If you did get financing, how did you get your bankers to take you seriously?
Hi Mark,
Thanks for the question… RedBalloon was self funded by the founders. We put in the capital from our savings… and then we grew organically. I know you have probably heard this before – but like most entrepreneurs every dollar earned goes back into growing the business. So yes it was a shoe string. Even now budgets are still tight…. but I like to say ‘it is not the size of the budget that counts but what you do with it that matters’ not sure if the RedBalloon Marketing Manager would always agree with me.
I have maintained a really good relationship with our bank…. and they know us well. So I would encourage you to nurture a banking relationship – and really get to know the bankers as individual people, as well as being totally transparent about what you are planning or doing. I was listening to Gail Kelly recently – and she said that Westpac is very committed to business customers… St George would be too… Bring your banker with you on the journey. I know ours is enjoying the ride.
Hi Naomi
I got to know of you on your episode of Secret Millionaire, & admired from that your passion for what you do & also how you balance life as a wife, mother & business leader. i recently reconnected with your blogs thru your presentation at a recent business chicks event. i did not attend as i live in a regional area, but in following up from your blog i am interested in knowing the 3 questions you would ask a mentoree if approached? i too am a wife & mother who is so close to getting my ‘career’ self-confidence back on track having being Mum for 4years. I am so close to getting my interior styling business (which i just love & feel passionate about what i can do) & myself ‘out there’ yet keep getting a flood of self doubt that holds me back. i am surprising myself with this doubt as I have had a successful career & do have confidence in general. in the past i couldn’t understand my girlfriends describing how difficult it was to get belief back in yourself out in the ‘work world’, and four years on here I am! thank you for sharing your personal motto ‘if its meant to be its up to me’ in your recent blog. it hit a nerve & made me realize i just need to get it out there & see what happens! i am sure there are many women/mothers looking to rediscover there self-belief & confidence, perhaps your 3 questions you have to ask of mentorees such as ourselves, could help to guide us along on our journeys..
Many Thanks
Hi Kim,
Thank you for sharing your situation – you are not alone. I will send the 3 questions via email separately.
Naomi
Hi Naomi, just reading your blog for the first time, although I’ve been on redballoon many times. As the founder of a start up in it’s infancy, I feel very fortunate that blogging has made it so easy to access very valuable advice from seasoned professionals like yourself. So let me take full advantage: There is no doubt in my mind that everyone has a different journey (in business, and in life!) and it’s clear that every successful entrepreneur is focussed on what they want to achieve and has great belief in him/herself and their product/business and ideas.
As an entrepreneur, how long do you persist with an idea before you reconsider, change or move on to the next idea (product, website design, marketing tactic)? Have you experienced a when you knew you had to do something different to succeed? If so, was there a tell-tale sign?
Thanks in advance, Paul.
Hi Paul,
Before RedBalloon I had another business… It was a freelance marketing group – and whilst I enjoyed it, I was not passionate about it. As a consultant I always felt that I was on the outside looking in… also the business model was not scalable. I had to find something that would be all consuming. At RedBalloon I have never ever doubted my sense of purpose. Even when others said it was not possible or that I was ‘dreaming’. Having an unquestionable, unshakable belief in what you are doing and the difference you make – igives you the answer of whether to continue. Many businesses have needed to adjust the business model or tweak focus – but the purpose remains the same.
If you really believe in what you are doing – you won’t give up. But you may need to ‘listen and respond’ as you alter the model for optimum results and customer focus.