Sarah Trotman, founder of the Small Business Expos and Director of Business Relations at AUT Business school. She talks about new security business Group Q.
Paul Walsh and I were both in the Territorial Association (TA)together. The people I mentor I generally have a connection with. I really rated Paul as a fellow soldier; we were colleagues as military police.
At our first meeting, we talked about the intellectual ownership of the business. He has a very good business model with Group Q, I thought and I am encouraging him to be even more ambitious.
At the second meeting I was looking at the structure of the business partnership between he and Dustin Watts. I found it was quite typical of a small business: they are two people with immense industry experience. It's where these trust relationships come from. I would have liked to see a better spread of skills but that can come as they expand. I was impressed with his business partner, also the fact they weren't watering down the ownership structure at this stage.
Our third meeting we talked about having a good understanding about what it takes to get a start up off the ground. To any start up I would advise them not to over-promise to the first big client. Entrepreneurs can be vulnerable and over-promise. They have to be honest about where they are at in the life cycle.
