One of the scariest business decisions Sandra Seah has ever made was to go “all in” on her chilli oil brand, Six-Eyed Scorpion.
Six-Eyed Scorpion chilli oil is stocked at more than 150 locations throughout Victoria alone, with further expansions into NSW and South Australia soon to come.But taking the leap and spending tens of thousands of dollars on manufacturing equipment and a kitchen space takes nerves of steel. But getting started is the easy part. Surging business failure rates serve as a reminder that creating a sustainable company is tough.
Six-Eyed Scorpion’s success has allowed Seah’s partner, graphic designer Jordana Adams, to also come on board the business full time from this month, after helping shape the company’s brand identity. “When someone leaves their job , what are they actually going to be doing on day one?” Pizzacalla asks.A business blueprint should account for market research, a plan for business development and an answer to the ultimate question for any company: where is the revenue coming from?Founders also need to decide on the best structure for their company and work out how much cash they will need to run things.
Founder of health gift card business Mentwell, Nikki Williams, says emotional resilience is one of the most important skills you need in business.