Archives For What I Learned From..

After I launched my business online, I started selling cupcakes at the markets. I set my market-selling date before I registered my home kitchen because I knew that if I set a date, and put down a deposit to sell at a farmers’ market, I would be pushed to tick off all the tasks on my list: (1) create the product line; (2) create the flavours; (3) create a menu; (4) register a business name; and (5) get the food registration etc. I wanted to work backwards with a timeline. If you have a goal and don’t set a date, you tend to let things drag it on. That’s how I made myself accountable to making my business work.” — Sheryl Thai

I started thinking about how other entrepreneurs work because I didn’t feel like an entrepreneur. I didn’t think I was an entrepreneur. I knew that I had a “small business owner” mindset because I wanted to do everything and didn’t want to delegate. That realisation was a defining moment. There was a time when I was so tired, I was taking cupcakes out of the oven, and my arms couldn’t life the trays because of how heavy they were. I remember dropping them and I broke down and ran off to the cupboard upstairs. I locked myself in there and cried for an hour. I needed to change and figure out how to be an entrepreneur. That’s when I started finding other people that was doing what I wanted to do and started learning from them.” — Sheryl Thai

I picked up the phone, called up a law firm, and said, “Hi! I can build websites for you.” The lawyer said, “No. You can’t. Good luck.” He hung up on me. I was crushed. After that, I felt like I was a terrible sales person for a very long time. When I consider sales with WeTeachMe, I find that WeTeachMe touches on who I am and my core values, so I don’t really need to “sell it”. I talk about the “why”. Why am I passionate about WeTeachMe? Why am I passionate about learning? Why am I passionate about education? And why did I start WeTeachMe? I found that our first 100 customers bought into me.” — Kym Huynh

One of the most exciting things about starting your own business is that you get to create the world as you see it. You get to instil it with the values that are important to you. And you get to fill it with people who align with your values.” — Kym Huynh

Our decisions on who we hire, celebrate or fire are based on values. When your values are clear and simple, they provide a framework for people to make decisions; what to do and what not to do.” — Kym Huynh

Our lives are so short. Things can happen through no fault of our own. We might be at the wrong place at the wrong time. I do not want to spend an iota of time doing something unless I am incredibly passionate about it.” — Kym Huynh

I believe in this idea that learning is something that you carry with you for the rest of your life, and it’s one of those things that no one can ever take away from you without your consent. In life you can lose your job, your house, the clothes on your back, but you will never lose the knowledge in your head, and with that knowledge you can always start again.” — Kym Huynh

The one you want to listen to is the one that has achieved you want want to achieve. I say to this person, “Teach me everything you know. I’m going to sit, I’m going to absorb, and I’m going to be willing student.” — Kym Huynh

With goal setting, the most amazing thing is when I have clarity in my 10 years goals, and break that down into years 5, 3 and 1. I started achieving my 3 year goal in 1, 5 year goals in 3, and 10 year goals in 5. Every year I reset the 10–5‑3–1. It’s this incredible accelerated pace of achieving goals.” — Kym Huynh

Sometimes you can be your own mentor by reading. I love reading. I listen to podcasts nearly every day. It’s about continual growth. I ask a lot of people what they listen to and what they read. I believe that success leaves clues and so you find people that have done it or created something that you want to create, and you can learn from them. It’s a shortcut.” — Sheryl Thai

Before I was made redundant, I had already starting little things on the side and baking cupcakes for friends and family. When starting a business, sacrificing your Friday nights is just one of those things that you have to live with. I was at home and waking up and thinking about my business way past midnight. Weekends were dedicated to improving my baking skills and to learning as much as possible. I did for that a good year before I was made redundant at my job.” — Sheryl Thai

There really is no concept of “full time”. It’s all encompassing. It’s all I think about, all the time; from the moment I wake up to the moment I fall asleep. It’s not segmented 9–5 5 days per week. It’s just… life. Life melts into this big cacophony of everything.” — Kym Huynh

The days are long and the years are short.” — Kym Huynh

What’s really helped me is realising that a lot of entrepreneurs go through the same thing.” — Sheryl Thai

The bigger my businesses is, the more money I make, and the bigger my challenges are. For me, I now see my challenges as a privilege to deal with them because it means that I’m growing. The challenge is a learning for me.” — Sheryl Thai

With thanks to

Sheryl Thai founded Cupcake Central (and League of Extraordinary Women) because guess what — she loves cupcakes! Her passion has risen out of her kitchen to 5 store locations across Melbourne with millions of cupcakes served and just as many diets broken! Sheryl describes how she discovered her passion and what she did to be able to enjoy the sweet taste of success.

Kym Huynh is a Founder at WeTeachMe and the driving force behind Masters Series. Kym discovered his passion for teaching after a bad car accident prompted him to think about what was important to him in this life. He’s now planning to turn his passion into the world’s biggest school without campuses.

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 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.

I’ve had a number of competitors approach me to buy me out and I just think, “I prefer to compete with you. I believe in where I’m going and what I’m doing, and I believe in our capabilities and our capacity.” If I was 65, 70 or 80… maybe… but running my own show and owning the decisions I make gets me out of bed. It’s on me.” — Jamie Lingham

I’m thankful for every single aspect of all the things that happened because it taught me so much. For example, you trust the people you have, and I’m not saying you can’t trust people, but put systems and processes in place so you can check things. Have robust systems with redundancies in place so that if something goes wrong you’re alerted quickly.” — Jamie Lingham

I ended up spending a week in hospital burned out at the age of 31. I’ve never ever worked those sort of hours again. I choose not to. The business is a vehicle to fund the lifestyle that I want to create for me and my kids.” — Graham Van Damme

Find a mentor. Find someone who has grey hair. Who has done it before. Learn from their experiences. The learning curve is vertical. There are people out there prepared to share their time. Take them for lunch. Take them for coffee. Leverage off their lessons.” — Graham Van Damme

Put 10% away. Pay yourself first. Fight to protect that facility. Put 10% away no matter what.” — Jamie Lingham

With thanks to

Jamie Langham is the CEO of Absolute Immigration who help businesses and individuals migrate successfully. Jamie’s business in Melbourne was going well in 2008, so he decided to put on a General Manager, and expand into Brisbane with an office and three staff. The GFC peaked a week later, but that wasn’t the only challenge the universe had in store for him.

Graham Van Damme is the Managing Director of Jag Capital. As a mining engineer, he bought into the business he was working for and began growing profits immediately. In 2008 he sold the business to private equity with the promise of even more ongoing profits. When the GFC hit a few months later, he realised his promise could be a little challenging to deliver!

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 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.

When my kids grow up the first thing I will tell them is, “Get a job in door-to-door sales. Do it for a year.” Even though it is really tough, my view is that if you’re in business, if you want to run a business, and you’re non-technical, you have to know how to sell. And by sell I mean you have to be customer facing or understand the process and not fear it. That’s a great lesson because running a business… if you don’t sell you don’t make money.” — Gary Tramer

Use Google Keyword Planner to determine if there is a need for what you are thinking about offering, or a tool called SEMrush to find out if there is a need. If there is nobody looking for what you are offering, maybe it is not a good place to start. And if you are really ballsy like me and trying to do products that aren’t in the market, then I would spend $100 on some Facebook ads to get out to the audience that you think might be interested, and see if anybody even looks or clicks on that ad.” — Gary Gramer

You have limited time to hit your goal. You really want to hit your goal. If you identify that a button on your website is critical to your user conversion, design a test that will be maximum impact. Don’t slightly change the colour one gradient or from blue to light blue, change it from blue to red. Go for maximum impact with your tests, with your results, with everything. Make everything count.” — Simon Mathonnet

If your hypothesis is, “I think that my target market is 25–35 making X amount of money per month, in X target market, and having X interests,” I can design a test for that. I can use Facebook and advertise to that type of demographic. I can create an ad. I can push my product. Did I get new customers by spending $50 or $100 on Facebook ads? Yes or no? That’s a really easy and lean analytics cycle.” — Simon Mathonnet

We were using all those online marketing tools to basically work towards one single goal, and they all interacted with each other, even though [these tools] are so often treated as seperate entities. Having them all work together in a meaningful way was a eureka moment. Sales went completely exponential almost overnight. Just having the funnel really defined, with the right messaging was key. And when it works, when you find something that just works, it’s one of the best feelings ever.” — Simon Mathonnet

You’ll speak to mentors and you’ll speak to advisors that will tell you, “Don’t make this mistake. I did it. Try this.” I think fundamentally that if you don’t make the mistake, viscerally you don’t feel the stress. You don’t get it. The biggest mistake is to try to avoid the mistakes. Screw it up. Lose some money. Stuff it up. Let the business fail. You’ll never, ever learn a lesson like that.” — Gary Tramer

With thanks to

Gary Tramer is the Co-Founder of LeadChat who are responsible for those little pop-up boxes on websites that ask if you need any help. Gary explains that he’s now taking his experience with data in e‑commerce and applying it to bricks and mortar retail to provide more information about physical shoppers when they walk into a store.

Simon Mathonnet is Head of Digital Strategy at Splashbox. He’s obsessed with data and digital marketing. Simon shares how he uses data to help startups and long-running businesses to achieve their goals.

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 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.

Every single person, when I was running my business as CEO, every person on the first day I would take them through the vision as the first thing that we did. I wanted to see the light in their eyes; is this something that excites them or is this something they think is hard work. I would say that every people decision in the business is based on our core values and that my job is to get the right people in the business and the wrong people out because we wanted to create a strong culture, an engaged culture, not a negative culture. So highly recommend building a great culture through the use of core values.” — Steve McLeod

A good plan violently executed now is better than a perfect plan executed next week. I see so many businesses that are planning and planning and planning and planning. Sometimes it is better to start, break a few things, and fix it along the way. Set some big goals and start taking action towards it.” — Steve McLeod

One of the numbers that I’m obsessed about in my business is how many current clients or prospective clients [do] my team go and see each week. I know that if we’ve got a team of 12 and they’re in front of 120 existing or prospective clients each week, the business will grow.” — Steve McLeod

I mentored a young woman a few years ago and she had a chocolate business. She said, “I want to sell my business in a few years’ time so that I can go have kids and take a break.” The first question I asked was, “How many hours per week are you spending meeting with prospective clients?” to which she replied, “Two.” I said, “Two is not going to get you the growth you want. I will mentor and help you if it is at least 15 hours every single week; not one week can you be less. In two years her business tripled because we worked out what was the activity we needed to drive, had the relentless discipline to do it week after week after week.” — Steve McLeod

Take nothing out of the business that doesn’t need to be taken out of. Reinvest it back into the company, and not into yourself. Initially in the first 5 years that’s where we got our growth. We were seeing 100% growth year-on-year and it was because of that. We kept throwing everything back into marketing and growth.” — Rory Boyle

I can’t recommend enough immersing yourself around entrepreneurs. I didn’t really start to learn until I put myself around people who were ambitious. You rise with the tide.” — Rory Boyle

Any business [needs to ask themselves], “How [are we] going to grow? Are we growing from existing customers and selling them more, launching new products to existing customers, or finding new customers?” — Steve McLeod

A good salesperson gets on the phone and does the hardest thing you can do and that is to face potential rejection; but this makes or breaks your business. If you really want to have a successful business you need to have the guts and courage to get out there, contact people, get rejected, and get hurt. Have the courage to sell by getting on the phone and putting yourself out there, and not doing it the easy way by just sending an email. Did the first ten calls go bad? You’ll be better on the 11th. Pick up the phone and do the hard work.” — Rory Boyle

[Many entrepreneurs] fall in love with their product and service but hate selling. Sales is just going to speaking with someone and talking to them about [why you started your business]; go and tell the story. Sales is actually a really important profession and business owners can love it if they look at why they do what they do and how to connect prospective clients with it. Without [sales] no business can grow.” — Steve McLeod

With thanks to

Steve McLeod established his first company Fire & Safety Australia in 2007. Today the business has revenues in excess of $10M and employs 150 people across Australia. Steve delivers a masterclass in how to grow your business.

Rory Boyle founded Hampers With Bite with his brother Nick in 2004. It’s actually one of a group of companies that the pair are Directors and Owners of, including Wholesale Promotions, Tastebuds and of course Hampers with Bite. Throughout their growth, the Boyle brothers have held onto the family business feel of their companies and put the customer at the centre of all they do.

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 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.

If you have conviction, which is a huge ingredient to starting a business, you can convince your customers that you’re passionate and that you believe in your business, you can convince your employees that you believe in this end-goal, and you can convince any of the haters, and also your family.” — Hannah Vasicek

Knowing what your brand looks like in the future is essential. That was instrumental in us deciding whether we go down the wholesale route, or the retail route. So that week I winged it and found a place to open a retail store. It was $400 a week, and that’s peanuts in retail these days, but I thought that was huge. I literally opened the doors the following week, put Freedom Australia everywhere and just made do. We opened the door in March 2013 and 18 months on we had opened our huge flagship store. And it was from hustling. I was working a 2‑day law job to ensure I could pay the $400 a week rent, and then working the other 5 days in the store direct with my customers and building this community.” — Hannah Vasicek

Surrounding [myself] with [visionaries] and having lunch with people who have wild ideas… really turned me on. It was exhilarating.” — Tobi Skovron

When we scaled the business, I knew how to pick, pack and send. I knew how to dare-I-say sweep the floors. I knew how to answer the phones. If I can’t do it myself then there is no way in hell I can get compliance from someone else. I tell my daughter all the time: Leadership is rolling your sleeves up and doing it with the people. Being a boss is someone that tells you what to do and I’m not a boss.” — Tobi Skovron

Go for it, embrace the fear of failure, and learn from every single mistake. That’s one thing I didn’t enact sooner and it’s something that’s really shaped me.” — Hannah Vasicek

No one wants to talk about failure. It’s not until you talk about it that you actually start learning. Thrive off failure.” — Hannah Vasicek

I’m not sure it’s me that needs to convince you. I think it’s you that needs to convince you. And I need to show you that it will be OK even if you do fall flat on your face.” — Tobi Skovron

Don’t think about money as the barrier. Leverage your community. Leverage your networks. Don’t be a bull but don’t accept no. Just [see] no as a speed bump to get to the next corner, and just keep going. And if you have the heart, it will start to stack up. And let’s talk about ego: If I would have executed Pet Loo the way I thought we were going to execute Pet Loo at day 1, and where it finished 10 years later, I wouldn’t have made it.” — Tobi Skovron

With thanks to

Hannah Vasicek is the Founder of the designer jewellery label Francesca. When she started selling her handmade designs at Hobart’s Salamanca Market she had an idea that she might like to have her own shop one day. Less than 10 years later Francesca has a shopfront in Hobart and Melbourne with online sales going globally. Hannah explains her bumpy road to building the business and provides a glimpse into what’s next for Francesca.

Tobi Skovron is the Founder of co-working space CreativeCubes.Co. But first he invented the Pet Loo and built a business that he sold after a decade. Tobi describes the challenges of relocating to the US in the middle of the global financial crisis (GFC) and outlines his plan for enabling more entrepreneurs with CreativeCubes.Co.

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 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.