1 – Q) Kindly give our readers an introduction to your business. Please include what your business is all about, in which city you are located and if you have offices in multiple locations/ cities.
A) Nestled in the heart of Perth, our small, family-run business is dedicated to transforming houses into homes, and spaces into dreams. Whether you’re a homeowner looking to sell your property swiftly and at a premium, a building company striving to captivate potential buyers with stunning display homes, or an individual seeking a uniquely tailored furniture package, we are your trusted partner in turning your vision into reality.
2 – Q) Kindly give us a brief description about yourself (it should include your brief educational or entrepreneurial background and list some of your major achievements). What inspired you to (start a new business venture) or (to make significant changes in an existing business)? How did the idea for your business come about?
A) With a career spanning three decades as an educator, I found my passion for entrepreneurship through an unexpected twist of fate. After facing medical challenges with my voice, I embarked on a new journey that led me to my true calling. My love for visiting home opens ignited a vision of transforming spaces to maximize their potential for profit. This seed of an idea blossomed into a thriving interior styling business. While similar ventures emerged over time, the key to my success lies in the extraordinary relationships I’ve cultivated with real estate agents, builders, and property developers. What began as a one-person operation has since evolved into a team of over 20 dedicated individuals and an inventory of furniture pieces that have exceeded my wildest expectations. Armed with an advanced diploma in interior designs and interior styling, my mission is to continue elevating spaces and exceeding expectations for clients in Perth and beyond. My journey is a testament of resilience, passion, and a keen eye for design.
3 – Q) What three pieces of advice would you give to budding entrepreneurs?
A) Entrepreneurship is a journey filled with ups and downs. Perseverance, a willingness to learn from failures, and a passion for what you do will be your greatest assets on the road to building a successful business. Three pieces of advice I could give would be:
- Identify a Genuine Problem or Opportunity: Start by identifying a problem or an unmet need in the market. Successful businesses often solve real-world problems or offer something valuable that people are seeking. Conduct thorough market research to understand your target audience, their pain points, and the demand for your product or service.
- Plan Strategically and be Adaptable: Create a solid business plan that outlines your goals, strategies, and financial projections. However, be prepared to adapt and pivot when necessary. The business landscape is dynamic, and unforeseen challenges will arise. Flexibility and the ability to adjust your approach are key to long-term success.
- Build a Strong Network and Seek Mentorship: Surround yourself with a supportive network of mentors, advisors, and fellow entrepreneurs. Networking can provide valuable insights, partnerships, and opportunities. Experienced mentors can offer guidance and help you avoid common pitfalls. Don’t hesitate to seek advice and learn from others who have walked a similar path.
4 – Q) What would you say are the top three skills needed to be a successful entrepreneur?
A) Being a successful entrepreneur require a diverse skill set, but if I were to highlight the top three skills, they would be:
- Adaptability and Resilience: Entrepreneurship is filled with uncertainties and challenges. Being able to adapt and to changing circumstances and bounce back from setbacks is crucial. Successful entrepreneurs view failures as opportunities to learn and grow, and they remain resilient in the face of adversity.
- Effective Communication: Communication is at the heart of entrepreneurship. Entrepreneurs need to convey their vision, ideas, and value proposition to various stakeholders, including customers, investors, employees, and partners. Strong communication skill encompasses not only speaking and writing but also active listening and the ability to build rapport and relationships.
- Problem-Solving and Decision-Making: Entrepreneurs encounter a multitude of problems and decisions daily. The ability to analyse complex situations, make informed decisions, and solve problems creatively is essential. Effective problem-solving often involves critical thinking, resourcefulness, and the willingness to take calculated risks.
While these three skills are crucial, it’s important to note that successful entrepreneurship also involves a mix of other skills, such as leadership, financial literacy, marketing, and a strong work ethic. Furthermore, continuous learning and self-improvement are integral to staying competitive in the ever-evolving world of business.
5 – Q) How many hours do you work a day on average?
A) The number of hours I work on average can vary. Being a business owner often requires dedication and a willingness to put in extra hours when necessary to address challenges, seize opportunities, or meet deadlines. Ultimately, the number of hours worked can very widely, and fluctuate over time. Some business owners may prioritize work-life balance and intentionally limit their work hours, while others may choose to invest more time and effort into their businesses. The key is to strike a balance that aligns with the individual’s goals and the demands on the business.
6 – Q) To what do you most attribute your success?
A) The success of my interior styling company can be largely attributed to several key factors. Firstly, our unwavering commitment to delivering exceptional quality and attention to detail has set us apart in the industry. Our dedication to creating captivating and function spaces that exceed our clients’ expectations has been a driving force behind our success. Secondly, the strong relationships we have cultivated with real estate agents, builders and property developers have been instrumental in securing projects and expanding our reach. These connections have not only provided us with valuable opportunities but also a steady stream of referrals. Lastly, our adaptability and willingness to evolve with the ever-changing demands of the market have allowed us to stay ahead of the curve. By continuously innovating our services and staying attuned to design trends, we have remained relevant and in high demand. These combined attributes have been the pillars of our success, transforming my interior styling company from a small family-run business into a thriving venture that continues to flourish in Perth and beyond. Underpinning this is a very loyal, dedicated and talented staff who have always respected and valued the company and backed the journey all the way.
7 – Q) How do you go about marketing your business? What has been your most successful form of marketing?
A) At 740 Designs, we understand the power of a strong reputation and word-of-mouth marketing, which have been the cornerstones of our success. We take immense pride in the relationships we’ve built with satisfied clients, real estate agents, and builders. Their referrals and glowing testimonials speak volumes about the quality of our work. In addition to our organic growth through referrals, we also harness the potential of digital marketing. We maintain a vibrant presence on social media platforms like Facebook and Instagram, where we showcase our portfolio, share design tips, and engage with our audience. Our Google presence ensures that those actively seeking our services can easily find and connect with us. These digital channels allow us to reach a wider audience, share our passion for interior styling, and continue to expand our footprint in the industry while maintaining the trust and credibility that have been the foundation of our business.
8 – Q) Where did your organizations funding/capital come from and how did you go about getting it? How did you obtain investors for your venture?
A) In the early days of my business venture, it was initially self-funded, and I embarked in this journey with limited upfront capital. This minimal financial outlay allowed me to maintain a manageable level of risk as I ventured into the world of entrepreneurship. As the business began to take root and thrive, it organically generated a steady stream of income. This financial growth and sustainability evolved hand in hand with the expansion of the business itself. The revenue generated was reinvested strategically to fuel growth and meet the increasing demands of our clients. The organic self-sustaining model not only provided a solid foundation for our business’s stability but also allowed us to make deliberate investments in areas that would further enhance our services and propel us forward in the interior styling industry.
9 – Q) Excluding yours, what company or business do you admire the most?
A) Three Birds Renovations is a business that I deeply admire for its inspiring journey and dedication to empowering women in the realm of home renovations. Founded by three best friends and mothers, Bonnie, Erin, and Lana, their story is a testament to the power of the following one’s passion and dreams. They took a courageous leap, leaving behind corporate jobs to embark on a path of more fulfilling entrepreneurship. Their ability to successfully purchase, renovate, and sell their first property within a few months showcased their talent and determination. Today, Three Birds Renovations stand as a shining example of how passion and expertise can transform houses into beautiful, family-friendly home. What’s even more remarkable is their real renovation experiences offering valuable insights and inspiration to a global audience via YouTube and social media, making a significant impact in over 110 countries. Their journey is a source of inspiration for aspiring entrepreneurs and home enthusiasts alike.
