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Skip to 0 minutes and 8 seconds I do a lot of things differently, to be honest. One thing is, I would treat my capital with more care. To begin with, I did things maybe cheaper than I would have wanted to but thought I was saving money. And that’s a false economy, because you don’t save money. You end up having to redo it. On reflection, I think I could have taken a little bit more time to process the concept and plan, the project from all different angles. The concept came and I was quite excited about it, and I acted on it relatively quickly. And so I learnt a lot of the process as I got further down the rabbit hole.

Skip to 0 minutes and 43 seconds So I think I maybe would have liked to have sat on the idea little bit longer. And the other thing is, it’s really hard starting a business without full support of people around you, because startup businesses don’t make money initially. You still need to pay for daycare, you still need to do everything else that you regularly do, and people tend to look at them as expensive hobbies. And you know you’ve got your goal, and then they know that there’s maybe 1 in 10 chance that this expensive hobby’s going to turn into a profit maker. So I think you carry a lot of guilt with you constantly.

Skip to 1 minute and 20 seconds Should I be doing it, maybe it would be easier if I just went and got a job. So, that’s where I say, if you’ve got a really good product and it really is a good product and you’ve got proof of concept, then you can believe in yourself a little bit more to keep going through it and hope like anything that it works. But there are definitely a lot of challenges you might not consider initially.

Entrepreneurs Reflection

We’ve taken a journey with our online entrepreneurs and discovered with them the many areas of business planning.

Starting with a business idea, creating a business plan, and developing their objectives, goals and KPIs. Our entrepreneurs also identified how they chose an online platform that suited their business needs.

Our entrepreneurs shared what they learnt during their journey and how they adjusted to new and evolving information as they started their online business.

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This video is from the free online course:

Online Business: Planning for Success

RMIT University