In an environment that encourages new start-ups, more of us are finding the motivation to ‘bite the bullet’ in an attempt to carve a successful future from our own passions and skills. From fitness and hospitality to retail, technology and many more, there is a diverse range of new businesses out there – all driven by experts in their field. While industry-specific knowledge is fundamental to success in these businesses, there is one thing they all have in common – running a business – but their expertise does not necessarily extend this far.
Pru Chapman, experienced business development coach and founder of Owners Collective, tells Dynamic Business about the gaps she has discovered in business knowledge and what she has done to help.
“I have discovered that there are some key knowledge gaps in how to run a business. Many are very good at their craft but they don’t have much business knowledge behind them,” Pru told Dynamic Business.
“The sheer volume of information available to business owners today can be overwhelming. It often results in people using resources irrelevant to their industry or level. This means essential business areas are neglected, while users are left confused and disheartened,” Pru said.
Owners Collective, a community of small business owners has today unveiled it’s Mastermind Series designed to target knowledge gaps across seven essential bases of business and address current industry challenges.
Pru said “with the Mastermind Series, Owners Collective covers all essential business bases with bespoke and practical advice. The course material is delivered in logical, interactive steps so that our members do not get overwhelmed and give up, but rather continue to learn and build throughout the duration of the course.”
The series will be lead by experienced business owners, known as Mavericks, who are well versed in starting a business across a range of industries and can offer bespoke advice.
“Mavericks run small businesses themselves. They’re really connected to the struggles and the barriers small businesses are going through,” said Pru.
When asked what inspired her to start up the Mastermind Series, Pru said small business owners often reported that having a mentor would make the greatest difference to their start-up journey. The Mastermind Series aims to provide this mentoring with Q&A sessions, one-on-one troubleshooting opportunities and a plethora of content.
Pru expects the initiative to grow significantly in the future having already run a successful pilot program involving 30 small businesses and start-ups from all over Australia.
“Members of the program will be our biggest brand advocates. 30 members from the pilot were really enthusiastic about what they did and have been encouraging others to join the program,” said Pru.
Pru said the fast-track component, its cost effectiveness and the creation of an ongoing community beyond the 12-week period is a key selling point for the initiative.
The Mastermind Series “develops a passion community for people to tap into. Many businesses fail because they are extremely isolated. They need a like-minded community to connect to and bounce ideas.
“We provide a supportive community they can continue on with after the 12-week period.