FOCUS chatted with Artesian’s Richard Case ahead of the first-ever Hills Shire Found X Pitch Night on Thursday, February 28.
Richard will be one of four panellists on the night giving advice to small business owners, entrepreneurs and startups.
Ahead of the FREE Castle Hill event, Richard gave us some tips on how to succeed in a dynamic marketplace:
(Q) How can business owners break free from the pack and lead the way in their chosen industry?
(A) By differentiating oneself from the pack and having a superior execution strategy. Have a clear mission and ensure the company culture is aligned to it.
(Q) With so many different promotional platforms and/or ways to use social media and marketing technology, what are the key things business owners should be doing in this space?
(A) Seek out Champions that will assist in networking i.e. Angel investors and celebrity endorsement. Seek out corporates in your vertical that are looking to collaborate.
(Q) With business owners being accountable for every minute of their day, how can they prioritise their time efficiently?
(A) Delegate is the best answer. However, that’s much easier said than done. Many founders struggle with this concept.
(Q) How important is the customer experience and what should business owners be doing in this space?
(A) Crucial to scaling the business. Clearly define the addressable market and devise a strategy that will spur consumer excitement.
(Q) With technology and the way business is conducted changing every day, how important is it for business owners to stay informed on the latest technological trends? And how do you keep updated?
(A) With the ever increasing speed of new technologies emerging, disruptors are now also vulnerable to being disrupted themselves. You keep updated by remaining alert to the competition in your vertical. Ongoing monitoring of databases, newsfeeds and market trends is required.
(Q) What are the key cost saving tips that small business owners could be doing?
(A) Wherever possible make expenses variable as opposed to fixed. i.e. Incentivise team with Equity over salary & sales team via a commission basis. Make maximum use of Mentors & Advisors & free consultancy services. Automate.
(Q) If you could only give one piece of business advice to entrepreneurs, what would it be?
(A) A good idea with poor execution will go nowhere.
*To see Richard live, visit the Pioneer Theatre (www.pioneertheatre.com.au) and book your FREE place.