What’s it like to start a business By Peter Baskerville 1/09/2019

'Start your own business' Session - Overview 1/09/2019 Peter Baskerville Started & managed 13 new enterprises 25 years self employed - 30 outlets (7 renovations, 23 ‘gray walls’) 2 chains (9 & 10 outlets) – franchising (NSW & QLD) Currently starting 3 entities – work skills for underdeveloped world Helped 100s of people progress their SYOB dream Online reputation LinkedIn – Network and endorsements Quora – Knowledge share – 9,000 followers (7,000 views per day) https://pathbrite.com/portfolio/PhZlPpZ0/Peter-Baskerville Industry Expertise Retail (Department, Specialty, Shows), Hospitality (Café, Take-away, Restaurant, Hotel, food-court), Manufacturing (Flooring, furniture, sawmilling), Resources (Nickel, gold, timber), Consultancy (education), Construction (Plasterboard), Internet – Social Community Networks – Qualifications in Accounting & finance (QUT). Course co-coordinator Writing course in Vocational Graduate Certificate/Diploma in Entrepreneurship Supported by guest entrepreneurs. Peter Baskerville

My Startups Helping industry ‘rockstars’ convert their intellectual expertise into passive income from the sale of digital learning products. Helping global learners access and apply ‘best practice’ industry skills at freemium prices. Mobilizing and connecting industry personnel with eLearning developers to promote global work based skilling.

'Start your own business' Session - Overview 1/09/2019 Startup or SME? Area SME Startup Market Existing market with successful businesses New market with no businesses with the exact same offer Business intent Replicate existing Innovate – attempting to change existing Focus Local geographic area Australia wide + global potential Attitude to funding 100% ownership and control important. Self + loans Growth and success of business more important – sell share to achieve outcome. Product Existing and proven acceptability New to the market. Goal Take a small share of a big field Dominate a field Underlying intent Make a Profit Make a difference Money making Clearly understood Not yet determined Course co-coordinator Writing course in Vocational Graduate Certificate/Diploma in Entrepreneurship Supported by guest entrepreneurs. Peter Baskerville

Steve Jobs founder of Apple talks about what it’s like ...

Steve Job’s Success Success So hard Sustained period Irrational Need passion Gotta love it - have fun Never give up Success

10,000 Decisions Why so hard? - Decisions Only 9,900 to go Sheer scale & urgency of the task (Decisions) Lack of resources and limited buffer against wrong ones (Risk) Lack of experience (360°) 10,000 Decisions 100 Only 9,900 to go

Why so hard? - Risk Forced into high risk New Business Established Business Forced into high risk Don’t know what you don’t know Failure the new teacher No customers = No $ Failure High risk Safe Business Your Market

What we can do? High risk – not avoid: manage – higher returns in higher risk Don’t know – coaching - market intelligence launch (beta) Failure – mindset (science & gaming), affordable loss. No customers – cashflow, customer development SYOB Course

Risk Management Affordable Loss Learning Zone Commitment Zone IMPACT CHANCE Insignificant Minor Moderate Major Catastrophic Almost certain Commercial Risk/return Skilled Operators Only Experts Only Avoid Likely Possible No markets No learning Unlikely Rare Affordable Loss Learning Zone Commitment Zone

Why so hard? - 360◦ Generalist not specialist T-shape skill set Planning Finance Marketing Online Generalist not specialist T-shape skill set Integrate into cohesive strategy Can’t afford resources

What we can do? Generalist – introduce you to all key areas in the 12 weeks T-Shaped – add basic skills to primary one – marketing, finance, online, planning Cohesive – integrated business model, presentation. Resources – info links, community of practice, further training SYOB Course

I’m no Entrepreneur Real entrepreneurs Bill Gates, Richard Branson, Steve Jobs Not true – now you too are one! To successfully start a business you need to … think like an entrepreneur, act like an entrepreneur and follow the entrepreneurial process. 1/09/2019