Longevity in Business
Last month I celebrated two substantial milestones - firstly my business Taurus Marketing turned 18 years old and in a more personal celebration, my eldest daughter Charlotte turned 18.
The Taurus team celebrating our 15th anniversary[/caption]
This is not entirely by coincidence. Falling pregnant 18 months after arriving in Australia was not greeted with any ideas of longevity or security by my then employer and well – we had a future and home to build in a new country and so Taurus was born. This happened at the same time my daughter was born – the eldest of three.
I’m not sure which of the two has given me more challenges! But they have both bought their joys and immeasurable rewards. I’m very proud to say, they are both doing fine. Celebrating 18 years is a proud achievement. For a POM born and bred in London it is a great feeling to have started a business in the country of my childhood dreams.
Looking back at the birth of Taurus, I have seen my fourth ‘baby’ mature into a reputable, corporate award winning, PR and Marketing agency. We have employed over 200 staff in that time, nurtured over 80 graduate intakes, entertained over 400 work experience people, won awards for excellence, spoken overseas at international conferences, appeared on TV and radio and broken new ground in our industry with trademarked services – the first of their kind.
Not pictured is Taurus - my fourth 'baby'![/caption]
Sure, we have worked hard, grown and celebrated together and occasionally stayed up all night to ensure objectives are met. In 18 years, I’ve matured a business and three children and I’ve seen the highs and lows.
We are in post GFC recovery, launching new product offerings and about to re-fresh our brand. We are busier than ever. So with most start up businesses failing within five years, what does it mean to be still standing here 18 years on?
‘Longevity’ is usually a word associated with life span. Other definitions are associated with length of service or tenure that attribute to seniority in a company. Businesses, in a sense, are living, interacting and growing entities that develop over time with changing attitudes, motivations and realistically - eventual death, or expansion or dramatic change.
During the GFC I have seen many peer companies stumble and fall. Or they simply put their “Closed” sign up and walked away. Survival in changing market is a challenge that doesn’t go away.
What does 18 years sum up to me?
As we ring a toast to Taurus success, I attribute 18 years of business success to the 4 Taurus P’s – Passion, People, Purpose and Progress.
I can still remember vividly the day I “opened the doors”. Tenacity still remains 100% and I believe has been the main driver to business longevity.
Attitude is contagious so remember to smile and keep your head up even when times are down.
With longevity comes learning so here are my top ten
- In start up businesses, the main company asset is you, so hold onto good health
- Have genuine love and passion for your business and enjoy what you do – or get out
- Know where you are going and on the journey, what your options are
- Be flexible and prepared to change - except with your core brand values
- Your customers and staff are important but your family comes first
- Don't let fear ever hold you back – but when in doubt - listen to your gut – gut instinct still remains key
- Outsource everything that you dislike or isn’t a strength
- Take external advice constantly
- Template everything so it exists without you
- Periodically get out of your comfort zone and push to pursue something bigger
First and foremost you have to love what you do. As the face of the business, clients and employees need to see that you are excited about the business, customers, and the work that creates success.
Ultimately, live the dream and it will happen!
