Each year, Australia’s small and medium businesses go head-to-head to win top spot on the Smart50 list – SmartCompany’s annual awards that recognise the fastest growing SMEs across our country.
This year 33 new faces joined the list for the first time, with the remaining 17 businesses having been Smart50 finalists in previous years.
Being touted as one of our country’s fastest growing SMEs surely means those behind the businesses know a thing or two about achieving success. So what can we learn from them? Here are the top10 lessons from this year’s finalists.
- Just get started – If you’re passionate about something and believe it will work, go and do it. (Sam Bashiry, Broadband Solutions)
- Back yourself – Believe in yourself and believe in your product. (Pana Barbounis, Pana Chocolate)
- Don’t forget marketing – Don’t make the mistake of treating marketing as an afterthought. (Edward Thirlwall, Supercheap Storage)
- Treat your employees, and yourself, well – Be positive among your staff. Their attitude will mirror yours. (Chris Thompson, Noosa Chocolate Factory)
- Get the basics right – Set solid foundations from the start so your systems can grow with you. (Nathan Huppatz, Costumes.com.au)
- Look for growth, not profitability – Continue to challenge yourself to think outside the box and have a mindset of forward thinking and planning. (Denise Meyerson, Management Consultancy International)
- Put the customer first – Make everything you do about the customer. (Nicola Mills, Pacific Retail Management)
- Know your business inside-out – Get involved and understand every aspect of your business. (Rafael Luna, Universal Communication Group)
- Be in it for the long haul – Have faith, and a strong strategy, to handle the good and bad times. (Rupesh Pathak, Queensford College)
- Be in the right place at the right time – Timing is everything. If the market isn’t ready, success can be hard. (Daniel Werzberger, Are You Selling)
You can read these lessons in full at Back yourself and just get started: 10 lessons from this year’s Smart50.
A tip from us when starting a new business – look at the ways you can protect your intellectual property to give you a competitive advantage. Check out our IP for business.