I never thought I would see the day that the children I have nurtured so zealously over the last 20 odd years have both finally bloomed into real adults capable of making adult decisions and suffering real adult anxieties.
But that day has come and Edward has finally decided that employment is not for him, so it’s the entrepreneurial pathway that he's now tackling. First venture - a massive skateboard ramp making enterprise … not sure I've seen him as an overly keen skater during his teen years but what would I know as we tend to lose connection as to what they are really interested in and what they are really doing.
Raising boys seems to include a gap somewhere in the teenage years for most mums where the open communication, connection and conversations of yesterday turns into grunts and embarrassing, disconnected hugs. We wonder if our original boy will ever return. He does ... but it is different. So it’s all about how we make that connection going forward that brings us both together on a regular basis.
I get the call, the one that slightly resembles the many mentor sessions I have had with other struggling budding entrepreneurs. He has an idea; he's going to make large skateboard ramps and target higher demographic Auckland teens that are able to convince their parents to include one in the backyard offering … as these things are not cheap.
We talk the obvious things… marketing… yep it’s all digital. He’s even given me a great idea which I go on to execute successfully against the Trade Me $1 reserve platform reserve.
The money, as always becomes his sticking point. What about the small legacy you were left by your grandfather? Not convinced the thing will fly (seriously, how can he have doubts at this early stage), he's reluctant to tap into his only funding pool, and the excitement of the pending OE next year is possibly his biggest barrier to this entry.
Okay I say, I believe in this. What about I become a silent partner? I'll take a profit share … it’s a maybe. He still wants to take it slowly.
There’s a location issue; where do we build? His father’s farm in the Waikato is possibly a little far from his market, even though it’s a Trade Me offering, I’m sure many will want to view before they commit.
We talk about design, which is his strong point and he has many great ideas on construction that are not the norm. So how can we create that unique selling point? We come up with a great visual idea for the side of the ramps using one of his friends, an out of work and very talented graffiti artist.
The first image goes up on Trade Me. He gets 500 odd views, no he's not in the $1 reserve, and why didn't we put up the visual one?? …. arghhhhh
The interest is lukewarm. We have eight watchers and some dialogue going on in the questions. Someone has made an offer below his buy no, it’s a little bit exciting. Even though our first point of entry is weak, success occurs and we sell the ramp… but I know we could have done this so much better.
I realise I have a business driven skating guru in my network and make contact. I want Edward to pick his brains.
I endeavour to get the two of them together, however Edward says he's not ready. I am, so I get into email dialogue with the guy resulting in some great information coming out of our cyberspace conversations, which I duly pass on.
The feedback is not so positive and Edward wants to walk away, grateful he's at least sold the first ramp. OMG I say, if I'd listened to all the detractors when I started, (my first landlord told me I'd be closed in six months just as all the other frock stores that he'd leased to) I'd never have started! He rethinks and re-evaluates the content of the feedback email. I suggest that there may be a conflict of interest as the guy also makes ramps (a bit like asking Trelise Cooper for advice in the early days).
I talk again regarding renting temporary premises in Auckland to get some ramps made closer to the market he's targeting. He's nervous and decides to make the next ones on his dad's farm.
We re-list the same ramp on Trade Me. He struggles with the concept as someone has just bought it and I try to explain that he's now in the business of selling these.
Time is of the essence; we have established they are the perfect Xmas gift for a certain kid… but is the skater in this demographic? Some would say not.
We are learning lots as we go, and I think I’m more excited than he is!
I consider the objections that he keeps putting up and can't believe he's being so conservative.
I'm not sure I agree, or can change his approach.
We agree to get the art on the next one and will fly his friend up for the week, then give this one a real push through a myriad of social media channels. We are looking at events that we can get involved in (Rhythm and Vines seems like a great fit) and are working out who to approach. We consider the charity route.
I see so much in him that is in so many others I work with in start-up and initial business mode. It is about a great idea executed well, and a self-belief. It doesn’t have to be a new idea, but it does have to have a very real point of difference to set it apart. People need a reason to buy your product or service, and please, don't make it all about price, the domain of so many struggling businesses!!
You have to consider how to market … and social media creates a very cost effective platform.
You will need to have some finance to meet initial cost and often a place to work. Consider them all and budget for them.
You will need to do your homework, even if the idea is not fully formulated in your head.
Get out there and talk with others, network, brainstorm; two heads will always be better than one.
Consider all marketing opportunities… even if the product isn't quite ready you will get the very necessary feedback.
And most of all, don't listen to the detractors! Everyone will have a view, so trust yourself and give the idea a good go.
You just may surprise yourself, as I'm sure Edward will.
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