Sisters Sali and Julie Stevanja formed their online store Stylerunner in 2012 after finding a serious lack of functional and fashionable gym gear.
Launched within three months of coming up with the idea – with Julie based in London and Sali in Sydney – their business success has been fast and intense. They claim they’ve achieved a massive 596% year-on-year growth, alongside their huge following on social media.
But it didn’t happen by chance.
Speaking at the Sydney League of Extraordinary Women breakfast on Tuesday, the sisters shared some advice for aspiring and existing entrepreneurs.
Below is a summary of their tips.
- Start your business in a lean way. Test your ideas and the market so you can improve based on what your customers actually truly want.
- If you are considering partnering with someone make sure you find someone with complementary skills and get a partnership agreement.
- When you are looking to expand your team, hire for attitude and train for skill, and make sure you give people recognition when they positively contribute to the growth of your vision and go above and beyond
- Associate with those who are supportive of your entrepreneurial pursuits and add value to your journey and minimise time with those who aren’t/don’t. Remember, we are the average of the five people we associate the most with
- As an entrepreneur you will have to wear three hats. The first is having the vision (i.e. an entrepreneurial spirit). The second is having the technical expertise (i.e. knowing how you want things to be done including processes) The third is being able to lead and manage people (i.e. being able to build and foster a positive working environment and culture).
- Always be authentic and engage with your customers
- Retain the right mental attitude and clarity on what you are working towards
- Get reading! Some great books include The Lean Start Up, Lady Boss, E-myth and the Nine laws of attracting profit (a downloadable e-book)
- Check out Source Bottle for PR opportunities that can help promote your brand.
- Get up that little bit earlier everyday and take a moment to remind yourself of your key goals and vision. Remember, for the extra hours you are still in bed sleeping there is every possibility that your competitor is out there already working.
- And finally, GET STARTED! Don’t just chase the dream, build it. Remember, done is better than perfect. There will never be a perfect time or day or scenario, you just have to get started.
This article originally appeared on Women’s Agenda.
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