Patricia Foley is a proud owner of Sabai at Bellarine, a health and wellness retreat at Barwon Heads in Victoria.
When she started out many years ago, she thought money would solve all her business problems and gave little thought to much else. This all changed when she first attended an Indigenous Business Australia (IBA) ‘Into Business’ workshop.
“At first I thought money was all I needed to make my dream a reality, if I could just build the retreat, customers would come,” she says.
“However, the workshops opened my eyes to so many other important business issues, like researching and comparing the competition, marketing and budgeting.”
‘Into Business’ workshops are free and are aimed at Indigenous entrepreneurs who have business ideas they would like to turn into reality.
“Many Indigenous Australians have created successful businesses out of things they are passionate about, but commercially viable businesses need more than passion to make them a success,” IBA chair Dr Dawn Casey says.
“Before taking the exciting, but often risky leap into business ownership, entrepreneurs need to fully investigate their ideas and learn what it takes to run a business.
“The better developed your research, vocational and management skills are, the greater your likelihood of success.”
The workshops are divided into three stages, with each offering a different component to business ownership and development.
Workshop A teaches attendees about the various skills needed to own a business and to help further develop their business ideas. Business goals and expectations will be discussed as well as research and risk assessment.
Workshop B will help attendees create a marketing plan by analysing the product or service in conjunction with the market and demand. Pricing, distributions, sourcing suppliers and other business resources will also be points of discussion.
Workshop C finishes up the trio of workshops with financial planning and management advice and how to operate a business. This includes commercial viability, financial projections, business planning, and where to find further assistance.
The next ‘Into Business’ workshop A in Victoria will be held in Melbourne on January 14. There will be one held in Perth and Brisbane on November 26.
The workshops will also be held on many other dates throughout December, January and February across Australia. For more information visit Indigenous Business Australia.
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