What’s it really like to run your own business?

Tuesday, 28 May 2013  Features

A careers event organised by GSA - ASB's Graduate Student Association - provided a group of enthusiastic students the opportunity to hear first-hand from alumni about what it's like to set up your own business after graduation.

Mike Smith (BCom '06) began Cake Wines with his best friend after working in marketing agencies for five years after graduation from the Australian School of Business. Cake Wines is a successful wine label that focuses on supplying product to the creative industries such as partnering with major short film festival, Tropfest. Mike shared with students the realities of running your own business including working long hours, the need to negotiate risk and making tough decisions.

His advice to students considering setting up their own business: "Don't refuse any offer that will make you a profit even if it is very tough work".

The event's second speaker, Andrew Wilson (BCom '05) established advertising agency The Other Dimension with his brother in 2005, just as he graduated from ASB. The Other Dimension's clients include the Sultanate of Oman and Lotus Cars.

Andrew told students it is important when running your own business to recognise that as the owner, you can't do everything yourself to make the business work and that delegating to competent staff is important.

He advised: "I have a policy of not regretting any business choice that I have made. I am happy at where I'm at, but I'm never content with what I have achieved. It is important that you are never ever content with what you have achieved so that you will continually seek to be better at what you do."

Maki Hayamizu, Vice-President of Professional Development at GSA said the event was a great opportunity for students to learn from professionals within the ASB alumni community.

"The alumni speakers provided us with deep insights into their lives as a business owner," she said.

"Their entrepreneurial spirits were truly inspiring and admirable. As students, their stories opened our eyes and broadened our vision for the future."

For more information visit the ASB's Graduate Student Association (GSA) website.