5 Entrepreneurs We Can All Draw Inspiration From

At Eden Exchange, we’re committed to helping our clients find and run the business of their dreams. Whether they’re buying an already-established business on our innovative platform or becoming a franchisee, we want to give them as much support as possible.

So, we’ve taken some time today to round up five Australian entrepreneurs that we think will be inspiring to our clients worldwide. Take a look below to find out more about how these entrepreneurs got started and how you, too, can follow in their footsteps.

What is an Entrepreneur?

Entrepreneur is a word thrown around a lot in the business world, but what actually is an entrepreneur?

An entrepreneur is someone who sets up a business. They take on financial risks in the hopes that they will eventually turn a profit. An entrepreneurial individual will take the initiative, organise, and manage new business ventures.

They tend to be characterised by their ability to see opportunities, develop innovative ideas, and collate resources to grow a business. Entrepreneurs are likely to be creative and determined and may show a particular aptitude for leadership. They will likely not mind challenging the status quo and aren’t perturbed by uncertainty, obstacles, or setbacks.

5 Australian Entrepreneurs We Can All Draw Inspiration From

Many of the most successful entrepreneurs of today have found their fortune in app and software development. However, there is still room in other industries for innovation! 

Below, we’ve looked at five of the most inspiring Australian entrepreneurs from various industries.

Melanie Perkins and Cliff Obrecht - Canva

Melanie Perkins and Cliff Obrecht are the married couple behind Canva. The design software launched in 2013 was created to offer people an accessible design tool. After seeing the difficulties students faced when learning to use software like the Adobe Creative Suite, Perkins was spurred to create something that was easy to use, no matter your technological proficiency.

Canva is now worth around A$24 billion (as of March 2023) and boasts 125 million users worldwide. 

The inception of Canva came from the idea that everyone deserved access to good quality, easy-to-use software. Born out of a need for accessibility, the couple has now made graphic design easier for everyone. Companies worldwide rely on Canva to create graphics, social media posts, and more.

Kayla Itsines - Sweat App

Anyone interested in fitness has likely come across Itsines, whether on Instagram or in the form of her app, Sweat. 

At the age of 18, Itsines was already working as a personal trainer in Adelaide. She was inspired to share before and after pictures of her clients on Instagram by a younger cousin. Using the power of social media, Itsines’s brand blew up, with fitness enthusiasts from around the country wanting her to train them too.

She created her first workout guide to sell online, which was a roaring success. She followed this up with a tour featuring live fitness classes. Eventually, her fitness guides were developed into the Sweat app.

The app outperformed big names like Nike when it first went to market and continues to be a success to this day. Itsines continues to develop new fitness programmes, even incorporating her own pregnancy workouts in the app.

Nick Molnar - AfterPay

Nick Molnar created AfterPay, a way to pay for purchases in installments after the fact. He recognised that his generation had an aversion to credit cards. Unlike credit cards, AfterPay does not charge you interest, but allows you to buy now and pay later.

Having lived through the 2008 financial crash, he noticed how the model that allowed credit cards to exist in the first place was reliant on people not being able to pay their credit card bills. AfterPay was designed to give people of Molnar’s generation a transparent payment method.

Molnar already had entrepreneurial roots, having started an online jeweller, Ice.com, prior to AfterPay. He was able to use his experience in retail and observations about his own generation to fill a gap in the market.

Janine Allis - Boost Juice

Allis had no business experience when she began Boost Juice back in 2000. Her vision was simple: she wanted to make healthy living fun and tasty. Her company, which started off as one store in Adelaide, now boasts 580 stores across 13 different countries.

Allis’s vision came from observing how many fast-food chains had recently moved into Australia. She wanted to counteract this trend and began working with naturopaths and nutritionists to create the inspired menu. Sales grew, and within just a few years, Allis had already expanded into New Zealand.

Mike Cannon-Brookes and Scott Farquhar - Atlassian

Atlassian, a software company that develops products for other software developers, is a successful company worth billions. Cannon-Brookes and Farquhar began their journey right out of university and funded the entire company with credit cards.

They began their company with incredibly ethical values, wanting to create a company that allowed the pair not to conform to capitalism. As a team, they have created a beautiful partnership and a company built on ethical management styles.

For a pair who started their company because they ‘did not want to have a real job,’ they have made quite the name for themselves and are firmly cemented within Australia’s rich lists.

How to Become an Entrepreneur in Australia

Becoming an entrepreneur in Australia begins with an idea. Whether that idea fills a gap in the market or is that you don’t want to work a 9-5, you need to have a vision. This vision will help you to build your business, but it isn’t the only thing you’ll need.

Below are a few key steps you should consider if you want to become an entrepreneur.

• Identify your passions: Something you are interested in and passionate about will always make you more driven. Consider the things you like doing or industries you have worked in. Is there a niche to fill within them? Could you create something new in the area?
• Do your research: There is nothing worse than coming up with an idea only to find out someone else has already thought of it. Make sure you go digging and find out all there is to know about the industry, what others are doing, and how you can make sure you’re different.
• Create a plan: A business plan will be the driving force in your success. It maps out your aims and gives you a clear path. While the plan can always change, it gives you a decent starting point.
• Secure funding: All startups need funding, so you must develop a way to finance your idea. (The business plan will be handy here if you’re looking for investors). You could consider funding it yourself, crowdfunding, or going the traditional route and seeking a bank loan.
• Network: Building a network of others in your industry, inspirational colleagues, and even mentors can provide you with support, collaboration opportunities, and greater access to customers and investors. So, go to industry events, join relevant associations, and build a strong network of trusted allies.
• Be resilient: Lastly, being an entrepreneur is not for the faint-hearted. You’re going to need to be adaptable and have the resilience to persevere through setbacks.

Final Thoughts

Entrepreneurs are forward-thinking and creative individuals. They develop new ideas and keep going through setbacks and obstacles. Becoming an entrepreneur can be exciting and will likely mean you don’t have a 9-5 job. If becoming an entrepreneur is your dream, then take a closer look at some of these inspiring stories now to get started.

If the business world is calling your name and you’re looking for a business to buy, you’ve come to the right place. Eden Exchange has been changing how businesses are bought and sold for a long time now. Our innovative platform has everything you could ever need for buying and selling a business, so why not check it out now?

Ready to get started? Contact Eden Exchange today for more information.

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Eden Exchange is an integrated multi-channel platform, simplifying business buying and selling. We match, refer and connect business buyers, sellers & brokers in an ecosystem that facilitates frictionless franchise, business and finance transactions. Visit www.EdenExchange.com and connect with our engaged and multidimensional transaction network today.