Find. Build. Sell.. Stephen J. Hunt
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have a good time. In that moment, my mate Paul turned to me and he said, ‘Steve, I reckon you should do this for a living'.
‘So do I, mate. So do I.'
And now I do.
This is my story.
What's this book about?
Success leaves clues. I've written this book so you can stand on the shoulders of those who have gone before and fast track your success; so you can minimise errors, maximise opportunities and get cracking on your business idea as soon as possible. When I set out on this journey 30 years ago, I had no idea what I was doing or where it would lead. I do now and it's been a helluva ride. This book is the step-by-step guide to how I did it — a blueprint of sorts — so that you have the tools you need to find, build and sell the business of your dreams. Rip in.
Find
What do you love? What are you good at? What does the market want? ‘Find' the intersection of these three critical questions and you've got the foundations of a successful business. ‘Find' is about identifying the right business idea for you, be it a new or existing entity, and finding the right team of people who can help you bring that idea to life. It's about finding the principles and values underpinning your entrepreneurial vision that will guide your very decision. It's about finding your strengths (and your weaknesses) so you can do more of what you love, and less of what you don't. It's about finding time to focus on what's important, and what's not, and knowing how to tell the difference. It's about finding the tools to curb anxiety, conquer worry and build resilience so you can stay the distance.
Build
Do you run the business, or does it run you? Are you working in it, or on it? ‘Build' is about taking the business you've bought (or created) and applying robust systems, procedures and processes so that you can automate the business without duplicating effort or reinventing the wheel. It's about how to ‘build' your confidence, manage risk and create an intrapreneurial culture that answers the fundamental questions of ‘Why are you in business?' ‘What do you stand for?' and ‘Who do you want to be?' It's about building systems that minimise conflict, improve productivity and maximise profits.
Sell
Do you have an exit strategy for the business? Do you want to sell it, stay with it or list it? What's the end goal? ‘Sell' is about building upon what you've created and maximising opportunities. It's about how to ‘sell' yourself, your vision and your story to attract investors and partners who can help you realise your ambitions. It's about how to evaluate investment opportunities, source venture capital, negotiate the deal, prepare the business plan, pitch to investors and choose the right advisors.
Who is this book for?
You may not want to own a pub, but you can learn a lot of lessons from someone like me who has. Why? Because I live in the real world of business. I live in a world where my business lives and dies by the sword of selling a service at a profit that sustains me, my staff and my investors. If I don't sell something, to someone, today and every day, I fail. It's as simple as that. Unlike those in the tech sector and start-up land (and good luck to them, by the way), I don't have the luxury of telling investors, ‘Invest in this obscure, untested, untried software that one day, somehow, will make you an absolute fortune. We don't have any sales, customers, traction, history or profit yet, but trust me, one day, we will!'
No. That's not the world I live in, and chances are, it's not the world you live in either. You're a small-business owner, working hard to chase your dream and turn your idea into a profitable enterprise. You get up early, stay back late, work like crazy in between, get home, say ‘hi' to your family, collapse and then get up and do it all again the next day. In short, you're exhausted, you're overwhelmed and you want to do things differently.
You want to enjoy what you do, grow the business without going into debt, make it more profitable, do more with less and get smarter about the way you manage yourself, your team, your energy, your time and your money. You want to attract more, better customers who can afford what you offer: who love what you do and aren't afraid to tell the world about it.
You don't want to be a billionaire, or maybe even a millionaire. You just want to have a thriving business that lets you do what you want to do, that pays you for a job well done; you want a business that runs without needing you to do everything; that has systems and procedures in place that ensure you know what's going on even when you're not there; that runs like clockwork so you can get on with working on the business, instead of in the business; that lets you get back to being with your family, taking a holiday now and then and sleeping soundly at night — without waking at 3 am worrying about cash flow, deal flow or work flow.
What problem does this book solve?
I've been running pubs since I was 18 and I've learned a few things along the way, and how to build a multimillion-dollar, multi-venue corporation is one of them. Through trial and error, I've discovered a blueprint for business success, and the best part is, my blueprint works for any business. Whether you're a hairdresser, stockbroker, fashion designer or car dealer, this system will work for you too.
If you live in the real world, like I do, and you'd like to learn how you can turn your passion into profit, do what you love and get paid handsomely to do so (so that you never have to work in a job you hate because the work you do is what you were born to do), this is the book for you.
There's never been a better time to make a change. If ever you were going to do something differently, the time is now. Don't waste another minute doing something you don't want to do, for a boss or company you neither like nor respect, for a wage or conditions that don't reflect your true worth, talent and potential. Don't be an armchair critic. Get out there, throw your hat in the ring and get cracking. After all, if a left-handed, one kidney-ed, ginger-haired kid from the back blocks of Sydney can do it, so can you.
Welcome to my world. The real world. Let's get started.
Part I FIND
You've got an idea and found your passion and now you want to set up the rules of engagement for how you'll take on staff, customers and investors. So let's work out your strengths, identify your blind spots and help you develop the courage to try to step out of your comfort zone and develop strategies for mitigating the risks if you fail.
It's now time to discover the importance of finding time to focus on what matters, like being in the right room and taking time to learn and do the little things right.
Let's go!
CHAPTER 1 Find your passion
The future depends on what you do today.
Gandhi
I've got seven pubs worth over $100 million. Saying it like that makes it sound like it was easy to achieve. It wasn't. It's taken me 30 years to learn the formula for how to find, build and scale a bricks and mortar business. In the early days, I made many mistakes. In fact, I made so many I nearly went bankrupt before I had even begun.
I started out making $100 at my backyard bar and gradually worked my way up, managing bars all over Sydney, London and Europe, working for some of the biggest and best names in the business. I was a sponge, absorbing everything around me, just waiting for that day when I could do it for myself and be my own boss.
My opportunity came, funnily enough, when I was sitting in a bar. What I'm about to tell you sounds like a plot from a Hollywood movie,