Archives For Business Partners

The word “entrepreneur” actually sucks. Being an entrepreneur is not cool. Building something successful is cool.” — Alex Louey

Being an entrepreneur is hard. You have no money and it’s a struggle. It’s hard but if you continue, and you persevere, and you keep on pushing to find different angles, you will succeed. With your ideas, don’t be precious about them. The reason why my business partner, Nick, and I work together well is because we are not precious about our ideas. In business, there is no place for egos.” — Alex Louey

Culture and values are actually the most important part of our hiring process. If we have two candidates and Candidate B is less skilled but has an awesome personality, will be a benefit to the culture and there is drive, we’ll go with Candidate B, even if Candidate A is a superstar. The team doesn’t win with one person.” — Alex Louey

Just because a customer says, “I want this done,” or “I want it by then,” doesn’t mean we say “yes”. If we can’t achieve what the customer wants, then we can’t create the desired experience, and so we need to make our expectations clear. The hardest thing to do is to actually say “no”. For too long I was surrounded by people who said, “Yes, Shan,” and that didn’t help. It may stroke your ego temporarily but it won’t help. I now look for people who say, “You know what? It’s not gonna fly. Not today. Maybe next week but not today.”” — Shan Manickham

Putting together a bunch of core values, that’s a piece of cake. Get a whiteboard, get everyone to put up their concepts and ideas, pick the most popular, put a few emojis up, and bang you’re done. That’s easy. The next thing you need to do is believe in them and get them instilled so that they are being used on a daily basis to make a decision within your business. And once that happens, things become a lot easier.” — Shan Manickham

A key thing is believing in the people that work for you. If you’ve selected the right people, you got to believe in them. You’ve got to be able to hand over reigns. It probably feels like you don’t want to hand over the reigns and you probably feel like you can do a better job but at some point, you have got to be able to say, “I’m gonna hand this over. I’m gonna believe in you. I’m gonna put the right measures in place.” So you’re going to trust and verify, but you’ve got to start with the trust first. Verifications come later.” — Shan Manickham

I don’t think you will ever know if it’s the right move, but I think you can make it the right move. You can sit there and do a lot of research, it all tells you the right stuff but if you can’t execute on it, all that research means nothing. Did I know the moment? Absolutely, not.” — Alex Louey

With thanks to

Alex Louey is the founder of Appscore, the team behind Yarra Tram’s famous Tram Tracker app. Alex knew nothing about building apps when he went into business, but he knew all about project management. He recommends working with your strengths and surrounding yourself with people who can do things that you can’t.

Shan Manickam is the MD and owner of warehouse solutions business Cross Docks Australia. Shan tried to go into the business through a management buyout which failed, but it pushed up the price for the buyer, so they sacked him. That was enough to put a fire in his belly to form his own company. He recommends hiring for culture rather than skills.

About Masters Series by WeTeachMe

Masters Series is a show about inspiring entrepreneurs, creative thinkers, and visionary dreamers, and the stories behind how they built their companies.

Subscribe to show

Show brought to you by

Masters Series is presented by WeTeachMe.

Our strategic alliance partners: MYOB, SitePoint, and Entrepreneur’s Organization.

Our media partners: Startup Victoria and Digital Marketers Australia.

Our content partners: Written & Recorded.

The views expressed by the contributors on this show are linked websites that are not necessarily endorsed by the publisher.

Question of the day

What was your favourite quote or lesson from this episode? Please let me know in the comments.

Nothing in my last 7 years has been one major step. Everything has been tiny, tiny steps.” — Ben Cohn

Starting a business with the view as to who will buy that business, or what industry is going to buy that business, is a really important point. This shapes the way you will to develop the business so that it eventually has a buyer.” — Ben Cohn

The first-year and a half or two years were quite easy for me because I knew I only had to work really hard, and that it was just dependant on myself and my business partner. As the business grew, we got staff, we operated in 3 cities, and now we’ve got 49 full-time team members. People have things going on all the time in their lives, and you cannot carry all of that load. The interpersonal stuff that happens when dealing with people and work dynamics, I find it challenging.” — Ben Cohn

As time goes on, the odds and the stakes are much, much higher. To be frank, I don’t find that it gets easier with time.” — Ben Cohn

I’ve seen clients come in with a great idea and I desperately try to convince them to go and try to talk to their market. And they come back and say that they have talked to their market. And what they actually did was go to five people, who already like them, and said, “I’ve got a great idea. It’s going to be awesome. Do you like it?” and those people didn’t want to hurt their feelings and so the feedback they got was just rubbish. What the problem interview does is that it forces you to not show anything. It forces you to literally go to a group of people and just classify and prioritise the problem and just get a real sense of what is causing pain. If there is not pain in the market, it’s really hard to sell to.” — Ben Stickland

Go and talk to people. Don’t just say, “I’ve got a great idea, I know my market, and I’m going to be determined.” That little phrase is highly correlated to losing lots of money. (Just on my experience and my observation.) Get out of the building. Talk to five customers with problem-solution interviews and in most cases, it will change your idea.” — Ben Stickland

Really trust your gut instinct. We all have a very strong feeling in our gut as to who we really are and what we want to do in life. We get clouded by the expectation of what we should and shouldn’t do. Being in touch with your gut feeling as to what your calling is, and what you need to do, is a very powerful thing; it’s a very hard thing to do because there is so much noise around us.” — Ben Cohn

I hire on culture; I do not hire on skill. In our business, we feel we can train anyone up. I hire for culture, and skill is secondary. There has to be an interpersonal connection.” — Ben Cohn

The highest rate of success in tech startups is two people, not one, not three; and it’s people who have known each other for a lot of years, not people who have just met. Because when you know someone for years, you actually go into it knowing their faults and you don’t have unresolved expectations of them.” — Ben Stickland

With thanks to

Ben Cohn in a Co-Founder of TAXIBOX, the mobile self-storage solution that brings yellow cubes of joy to your front door. Ben did a lot of on-the-ground research to jumpstart his business. He explains his approach to making sure TAXIBOX customers always have a remarkable experience.

Ben Stickland is the Founder of Alliance Software and has spent a lot of time and money in the startup space. Ben says the first three years of business are like walking up a see-saw, then things start to level out and become a bit easier. He says he loves running experiments to see what’s going to work in his business.

About Masters Series by WeTeachMe

Masters Series is a show about inspiring entrepreneurs, creative thinkers, and visionary dreamers, and the stories behind how they built their companies.

Subscribe to show

Show brought to you by

Masters Series is presented by WeTeachMe.

Our strategic alliance partners: MYOB, SitePoint, and Entrepreneur’s Organization.

Our media partners: Startup Victoria and Digital Marketers Australia.

Our content partners: Written & Recorded.

The views expressed by the contributors on this show are linked websites that are not necessarily endorsed by the publisher.

Question of the day

What was your favourite quote or lesson from this episode? Please let me know in the comments.