Today Halftime Global held a seminar titled How to Build a Business on Purpose. This event aimed to help aspiring leaders of business learn from established business leaders.
The content revolved around the 5 major challenges that can hold entrepreneurs back.
- Lack of Vision and Purpose
- Poor Leadership Skills
- Financial Problems
- Ineffective Marketing & Sales
- Lack of Mentoring
The presenters, Peter Irvine and John Sikkema, discussed the challenges they faced during their time building businesses and how they navigated these issues.
Both John and Peter have had extensive experience in building purpose-driven businesses. Peter was one of the Co-Founders of Gloria Jeans Coffees and was part of the group that bought McDonald’s to Australia. John is the Founder of Garrisons Financial Planning and the Chairman of Halftime Global, which helps individuals re-define their goals in life and business.
John discussed how his imbalance between work and life affected not only his personal life but his business as well. While growing his business John was trying to manage most of his business himself, which was leading to inefficient processes and financial trouble for the business. John overcame this challenge through a couple of different steps, he sold a forty percent of the business’ shares to a Multi-National company and took a step back from the business. Selling the shares allowed the business to clear it’s debt, while maintaining a majority of the business. Taking a step back allowed John to focus more on his personal life and allowed the business to operate more efficiently and independently.
Peter discussed in detail how a vision and purpose is critical for businesses looking to thrive. During his time at Gloria Jeans, Peter ensured that the business had a vision of what the future ideally held for the business. Peter also discussed how the correct approach for a business can make a difference. Through a story about a regional company specializing in fencing for farms, Peter demonstrated how vital correct messaging can be for a business. Initially the business was using many different traditional media channels to advertise, as a result they were getting requests from residential customers. While the influx of business was positive, it was not the correct target market for their business. Once Peter helped the client determine the correct approach the incoming customers were more suitable.
John and Peter were both advocates for having a network of mentors. They described a network of mentors as more of a personal Business Board. Ideally your Board helps develop your skills and business without having direct involvement with the business. They joked that your mentors would not meet collectively, like a Board of Directors would. They would be available to discuss how your business was tracking, and any problems that it may be facing.
The event was held in a general purpose meeting room that had been set up in a similar way to a lecture theatre. With many chairs set up in the center of the room the space felt rather small. Halftime provided a variety of sandwiches and wraps for attendees. The options were fairly run of the mill, with choices such as roast vegetable, chicken salad and egg and lettuce.
All in all the event was stimulating, providing fascinating insights into what it means to build a business that has a vision and purpose. I would attend events in the future put on by Halftime, getting the opportunity to listen to successful business people talk about the challenges they faced and overcame was fascinating.
Things to Note:
Location: 140 Williams Street, Level 22
Highlight: Invaluable insights into what it takes to be a successful business leader
Hot Tip: Think of an engaging question.
- Venue: 2/5
- Catering: 3/5
- Speaker: 4/5
- Networking Opportunity: 2.5/5