Unlocking support: Who, what and where to go to as an entrepreneur

Starting a business is kind of like having a baby. Not only does it require constant attention, fill you with pride (and worry) and often keep you up at night, it also takes a village to help thrive.

In fact, although entrepreneurship is often perceived as a solo journey, according to Olivia Fleetwood and Karina van de Pol, sisters and founders of THE KO Creative Studio in Geelong, building a strong support network is vital.

"Collaborating with local businesses and creatives has really broadened our network," Van de Pol explains. "When we first opened the business, we made a huge effort to introduce ourselves, connect with our local community and support them back wherever we could."

While the sisters have worked with coaches to help grow and nurture their business, they also draw upon the experience and support of family and friends. "It's impossible not to have emotions involved when it comes to running your own small business," Van de Pol says.

"Sometimes we just need facts and figures from accountants and advisers, and sometimes we need emotional support from friends, family and fellow small-business owners."

Building the perfect team

With the sisters' business based on offering creative activities and opportunities to their local community, Van de Pol notes that connecting with specialised contractors was a critical first step. "Their talent and expertise are vital for our business model," she adds.

Fleetwood agrees, noting that although THE KO doesn't have any full-time staff, it does have an accountant. "As creatives with styling and marketing backgrounds, we have benefitted from investing in strong financial advice," she explains.

The sisters have also hired contractors for admin support, so they can focus on growing the business rather than getting tied down in the day-to-day.

Making friends with software

From the very beginning, Fleetwood and Van de Pol knew they'd use some kind of accounting program to keep track of their comings and goings. When a friend recommended Xero, the sisters wasted no time signing up — and they've never looked back.

"Xero is our absolute lifeline," Fleetwood admits. "Being able to log into Xero and pull up a quick report or get a snapshot of how we're tracking for the month means we can still manage our finances while on the fly or when we can't get together."

As well as simplifying their tax reporting, Xero also allows Fleetwood and Van de Pol to plan using hard data rather than guesswork.

"We love having the ability to set up a custom homepage so each time we log in we have everything right in front of us straight away," Fleetwood says. "Being able to draw on historical data to review and set budgets and forecasts is super easy and straightforward."

Learning on the go

As well as attending in-person events for their personal or business development, Fleetwood and Van de Pol also take advantage of digital resources such as webinars and email newsletters.

"Karina and I both lead busy lives juggling the business, family life and freelance work, so we love listening to podcasts as an accessible way to learn things on the go," Fleetwood tips.

"Some of my favourite podcasts are My Daily Business, The Lazy CEO, Harvard Business Review's Women at Work and Ready or Not for mum/work life."

Community above competition

The sisters have enjoyed the sense of camaraderie among the small business community and encourage others in their position to really lean into that "village".

As Van de Pol so eloquently puts it: "Try not to compare yourselves to others. There is room for everyone, and it's so much more fun to support each other and enjoy the journey."

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