Reversing The Stats On Business Failure

BRISBANE, Australia - May 7, 2018 - PRLog -- With up to 50% of small businesses shutting up shop in the first year, a mentoring program in Brisbane/Sydney is spinning those figures on the head. Eighty three percent of CO. STARTERS' graduates are still in business five years later.

CO.STARTERS helped saved Rod Hyatt's idea. He loves bees. His love of bees saw him start Bouncing Bee Company. If it had not been for the support and education from CO.STARTERS, his business would have been destined for failure. What Rod didn't know was how to fully plan out his business. He thought it was as simple as having a good idea.

Throughout the process of the program, Rod learnt that his big idea "Eesibeesi" Framers was going to alienate 30% of his market – enough to make his business unviable.

"CO.STARTERS was really good for me because it allowed me to really focus on the down to earth CO.STARTERS canvas - a one-page business plan," he said.

"It was the most valuable thing I have ever come across in my life … and I have done a lot of business programs. I didn't need to be a tech genius or a computer whiz to do this. The nine weeks was well spent helping me get my idea focused."

Wesley Leake, chief excitement officer at CO.STARTERS, said business longevity can be an elusive thing for many but the nine-week program has nailed the ingredients needed to achieve it. "Most people, when they go into business, do not have any plans. They may have lost their job, can't get another job, or they are very good at their profession so think they can go out into business," he said.

"But … they are not equipped with all the skills and tools needed to prosper in small business.

"What makes CO.STARTERS different is we build communities around our aspiring entrepreneurs.  These communities are made up of business people helping other business people. Each week, we bring different industry speakers, like accountants, solicitors, marketers and business owners, that are related to a topic.  Because what we do is cohort based, we find a lot of our people end up doing business with each other.

"Nothing happens in business without relationships."

CO.STARTERS is an adult entrepreneurial education programs aimed at teaching individuals how to plan, launch, grow, and, maintain a business. It is a platform to help communities grow local business facilitated by business people.

Wesley said CO.STARTERS works with people on their strategies. "We provide the building blocks in a practical and grassroots way," he said. "Our focus in on thinking, doing and making. It is very hands on – the focus is on the practical, not the theory behind building a business.

"The simple one-page business canvas looks at everything from how to build a team, who the customer is, the problems being solved, and the financials. "Half of what we do is around financials," he said.

"There is a heavy focus on talking to customers – actually talking to people.  This is also a key component – very customer focused.  Many people come into business, like Rod, with ideas that have not been validated, and that can be achieved by talking to the people you think need your product or service.

"By the time they have finished the program, participants have spoken to 30 to 50 customers. The idea has been tested. If they find out it will not work, they will have saved a lot of time and effort."

"The Beatles made famous the phrase "I get by with a little help from my friends." Here at CO.STARTERS, we strive to help people live a fuller, richer, happier life with a little help from a team of people who want to change the world, one new business at a time."

https://www.startupsinaustralia.com.au/