Last year, the total number of startups in Australia dropped by 12.5%. Is it the fear of striking out solo that’s to blame? Or is it a lack of support on home turf that’s to blame for this dwindling entrepreneurial spirit? Enablo co-founders Daragh McGrath, Mark Wyman and Dave Nixon share insight on the challenges and payoffs of founding a business.
1. How did the three of you meet and decide to be co-founders?
Daragh McGrath: “Dave, Mark and I have worked together for the best part of the last decade. Our common bond is a deep desire to help people be more productive, collaborative and connected at work, using the tools that are familiar to them in their personal lives.
2. What is THE hardest part of starting a startup in your opinion?
DM: “There are two things that stand out to me:
–1) The leap of faith that it takes to back yourself and your idea, quit a well-paying job and trust that your judgement and execution is sound.
–2) Finding awesome talent.
3. Do you feel Australia is supportive of startups?
DM: “I think we’re getting better for sure! We’ve certainly made some long-term bets for the business based on government benefits such as the R&D Tax Incentive or the Export Market Development Grant.
An annual report by Startup Muster revealed that last year, Artificial Intelligence was the most popular sector for startups in Australia, with 20.6% of new businesses falling under this umbrella.
4. What advice would you give someone doing it tough in the startup world?
Mark Wyman: “Great question. Step back, take a breath, evaluate what it is that you’re doing, ask for help and feedback, learn.
Dave Nixon: “If you’re doing it tough in the startup world, you’re not alone. Remember that. Every startup journey has its peaks and troughs. Identify:
– What is your purpose? Why does your company exist? Why is it important that we provide the product(s)/service(s) that we do?
5. Who are your role models/mentors and why should/shouldn’t you have one?
DN: “I don’t have any go-to mentors and role models top of mind. There are so many great online resources (podcasts, e-books, articles) available on-demand today that I seek out what I need when I need it.
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SOURCE Enablo
