Briefly tell us about your business and how you got started.
The idea for babybuds developed when I gave birth to my daughter Olivia in 2001 and was inundated with gifts of fresh flowers, designer baby clothes and toys from family and friends. Like most new mums I appreciated everyone’s generosity but nonetheless left the flowers at the hospital when we went home and quickly realised that, despite the cuteness of the designer clothes, what Olivia really needed was the practicality of basic baby clothing.
I decided to create a gift with a “wow factor”, which combined the romance of flowers with the practicality of essential baby clothing.
What have been your major achievements?
Beginning with an idea and developing my idea into a successful company that I am very proud of.
What have been your major challenges?
Understanding cash flow was a large obstacle for me. I am not a natural at it and have had to work very hard at reading Balance Sheets and Profit & Loss statements and understanding how cash flow works.
Who has been your greatest mentor?
I have had a few great mentors and believe that mentors have added an amazing amount of value to our business. Lynden Payne of SME Business Mastery was my mentor for two years and we saw our business prosper greatly during this period Lynden’s two partners, Matt Chapman and Mark Richardson also contributed a lot of wisdom and all three helped us take a wholistic view of our business. Annette Robertson has been our marketing consultant for three years and has been a wonderful marketing mentor for me.
How do you stand out from your competitors?
We stand out from our competitors by sticking to three key values: innovation, quality and customer service. These are the three things that are essential to everything that we do. 1) We aim to always bring innovative products and services to the market. 2) We work to ensure that everything we do is of the highest quality so that our gifts have a big impact on the recipient. 3) We ensure that we provide excellent customer service to make sure that customers are happy with their purchase and tell others and purchase from us again.
Where would you like to see your business in five years from now?
I would like babybuds to be the company that everyone thinks of when someone has had a baby.
What are your Top Five Strategies for Success?
- Know your point of difference & customer;
- Always have a business plan;
- Know & understand all of your financial information;
- Surround yourself with a great team;
- Have a ‘failure is not an option’ attitude.
