Fiona Horman successfully runs Regency Media Group, a privately owned Australian company that manufactures media for the home entertainment industry. Since she took over the business in 1986, it has grown to become Australasia’s most experienced, locally-owned electronic media manufacturing business. Fiona purchased the company 18 years ago when the plant had three employees and manufactured 1,000 cassettes a day. Under her guidance, leadership and vision, the company employs close to 150 people and manufactures over 10 times than what it used to, grossing a net worth of $60 million annually.
“I was about to marry and have kids. I was given the opportunity to buy a small company, which I had been working for. I thought it would be easier to have a family if I worked for myself.”
Fiona’s favourite aspect of running the business is the constant interaction with clients. The small steps and daily successes are things she looks forward to.
“I enjoy negotiating deals and winning new clients.”
Fiona wishes she knew a few things before she started. Firstly, that perseverance pays. Secondly, she suggests you immerse yourself from bottom to top in your business, as this will benefit you as it grows. Thirdly, she believes that you should never give up. Fiona suggests you familiarise yourself with finances. She stresses the importance of having a strong financial understanding of your business.
Fiona Horman’s advice for starting a business:
- Research your clients and competitors on a quarterly basis.
- Watch your cash and pay attention to three months forward cash flows.
- Follow your intuition.
Fiona Horman is a Businesswomen’s Hall of Fame inductee. Read her full story here.
