Innovation beats imitation
WITH more shops closing their doors, Byron United president Sevegne Newton is perplexed that there are still people starting businesses in Byron Bay without fully doing their homework.
Ms Newton said closures in town had often not been older businesses, but newer ones.
“Anyone who has been in town and business for five years knows the peaks and troughs that business here experiences,” she said. “Yet there are stillpeople buying into businesses without doing any due diligence and believing the streets are paved with gold.”
Ms Newton said as she watched the kebab shop in the town centre being dismantled on Saturday she thought “it really is a jungle out there”.
She said only the fittest would survive.
“When Olivo closed and the kebab shop went in, it crossed my mind, how are three kebab shops going to make a living,” she said. “Well, quite clearly three aren't. In fact, if you look at some of the closures of late – hairdressers, real estate agents, supermarkets - it becomes clearer that our town cannot sustain the duplication of these businesses.”
Ms Newton said coffee carts were springing up around town, and she questioned just how many cups of coffee could be sold.
“The answer would be that we are selling less and these new businesses are taking trade away from existing cafes and coffee places,” she said.
“Where are the innovators in our town? We do not need another surf shop, takeaway or clothing store.
Ms Newton said the first lesson she learned in business was to tap into a market that wasn't represented, to stay original and one step ahead at all times.
TIPS ON STARTING A BUSINESS
1. Do what you love.
2. Start your business while you’re still employed.
3. Don’t do it alone.
4. Get customers first.
5. Write a business plan
6. Do the research.
7. Get professional help.
8. Get the money lined up.
9. Be professional from start.
10. Get the legal and tax issues right the first time.