Listen as a Podcast Here!!
Aussie Entrepreneur Campbell Walshe on How to Scale a Business from Anywhere in the World!
By Julie Lam
Welcome back to another episode of the “Perfect Pitch Show” where Brandon Burns, Head of Community – Runway Virtual, interviews small business founders / entrepreneurs about the secret sauce to their successful start-up journey.
On this episode, we are excited to bring back a beloved guest, Campbell Walshe. Campbell has over 10 years of experience as an Entrepreneur, having founded multiple start-up businesses. He’s proudest achievement to date is his involvement in CNSDose, a health tech start-up that relies on DNA predictors to curate the appropriate anti-depressive medications for individuals suffering with depression. He is one of Australia’s most talented start-up mentors, and his most recent endeavour has seen him take on the position of director at Pitchblak. In this role, he utilises his expertise to consult early-stage Entrepreneurs and support them on their journey from turning an intangible idea into a scalable business model.
The Ideal Candidate
Campbell developed Pitchblak as a service that guides founders on the process of raising capital, tips on how to go about pitching to investors, and the research behind creating an awesome brand.
Campbell describes the ideal candidate as an individual who is likely currently working a full-time job. They may have a great idea but are not sure where to begin or how to start raising capital for their business venture. Campbell would like to reach out to the founders who have an eagerness to learn, willingness to work hard, and able to take on some risk to see through their idea. Although he prefaces that Pitchblak helps to develop these invaluable traits, individuals who enter the program with a close-minded attitude are significantly less likely to achieve their goals.
Campbell is not necessarily concerned with accruing a database with hundreds of founders per year. Instead, he would rather focus on working with exceptional founders to produce great start-ups. Campbell specifies that he welcomes big ideas from any industry, ranging from healthcare to fashion. It is also worth noting that regardless of the stage that a founder may currently be in, Pitchblak can support them in how to move onto the next step.
Things to Avoid as an Entrepreneur
Campbell paints a picture of himself as a young and inexperienced entrepreneur. He admits that his biggest mistakes sprung from his tendencies to make assumptions. Often, he would come to conclusions without validating them and wrongly believe that these were correct. Campbell was enlightened to a different tactic when he began working with founders from a scientific background. Their approach was clinical, where they continuously developed methodologies to test and validify their hypotheses. Campbell began to find success as an entrepreneur once he started to incorporate this methodology directly to his other start-ups. He advises that not asking questions, and more specifically not asking the right questions to validate each assumption is an easy way to cripple your business’s growth towards success.
Many prospective entrepreneurs are hesitant to pursue their ideas because may feel overwhelmed with their lack of knowledge. Campbell reassures that having this attitude can work to their advantage, as opposed to stepping into the field with the mindset of believing they know everything.
The Importance of Research
It is critically important to acquire as much information about your potential customers as possible. Campbell suggests that directly speaking with people to gauge their behaviour and pain points is a great place to start. Being open to receive customer feedback is also a great initiative, and such insight is invaluable.
A strategy that Campbell personally employs to conduct valuable research is the use of a test brand where he creates Facebook ads in order to test different hypotheses, target different audiences, and to experiment with alternating tag lines.
Campbell is quick to remind audiences that regardless of how obvious a point may seem; it is vital to avoid relying on assumptions.
The Importance of Self-Care
In the past Campbell has struggled to find a balance between his professional and personal commitments. He laments about a particularly difficult period in his life when his father sadly passed away, followed soon after with a divorce from his significant other. He remembers specifically how the lack of self-care had a particularly damaging effect on his personal health.
Campbell believes that the most important thing one can do for themselves and for their start-up is to find the right balance. How a person achieves this will vary according to their individual situation, however Campbell has found that developing a sense of mindfulness, gratitude and empathy for others has helped him immensely. Campbell continues to work towards improving his own self-care by spending more time with his children, family, and friends.
The Art of Pitching
Campbell finishes our podcast today with a few words on the art of pitching. Pitching, as he describes it, is about bringing people along on a journey. During this process one needs to connect with people in an open, transparent and authentic way. It is important to build a relationship with trust, this is because it is about them investing in you as the founder, a factor which is arguably more important that the product/service you are attempting to pitch.
Campbell understands how frustrating it can be when the business is finally gaining momentum only to be stifled by the need to shift goals on raising capital instead. Pitchblak helps mitigate this by focusing on closing the deal through providing tools in order to understand both the investor and founder on a psychological level.
You can contact Campbell using the following links: