Episode 11: Startups + Business Innovation, with David Masefield (Part 1)
In this episode, Sam interviews David Masefield, the founder of ShedBlog.com.au and Startup Toowoomba, and President of Canvas Coworking here in Toowoomba. This episode is Part 1 of this interview where David shares his background and how he went from running a physical shed franchise to running an ecommerce shed parts blog business as well as the next stage of David’s career, starting Canvas Coworking in Toowoomba.
David and Sam discuss the importance of connecting with other entrepreneurs and business people, of being in community. David then shares the definition of a startup and how it differentiates from doing business long term. Plus, the success rates (or lack thereof) of startups and why fast failure is the goal.
Connect with David on LinkedIn or Facebook, or via ShedBlog.com.au or CanvasCoworking.com.au or StartupToowoomba.com.au.
Listen to a snippet
What we cover in this episode
David’s background and how he went from running a physical shed franchise to running an ecommerce shed parts blog business
A bit about Shed Blog, the business model behind that, beginning with an informative blog and working out how to monetise it
David’s “fly by the seat of his pants” experiences starting out
The importance of having access to good legal and business advice when starting out
How David has continued most of the ongoing work on the blog himself, with only the basics of accounting support
The next stage of David’s career, starting Canvas Coworking in Toowoomba
The power of connecting with other entrepreneurs and business people, of being in community
The Definition of a startup and how it is different from doing business long term
The success rates of startups and why fast failure is the goal
Quotes
“I started to write a blog about how to buy a shed. The best way to go about that, what are the mistakes that you can make, what are the things to avoid, and what are the tips and tricks so that you could get the best shed for the best value…and I thought at the same time, how can I generate some additional income out of this [blog]?”
“I’ve always been a fairly fly-by-the-seat-of-my-pants type of guy. I know there's a lot of stuff that I should have done, there’s stuff that I still haven't done. And that flies against a lot of the advice that I personally give people [who are starting businesses] as well.”
“I’ve worked on my own on the blog since [the start]. I've had a bookkeeper and accountant, but we haven't deeply explored the areas around [business advisory]…just doing our best on a regular basis and taking care of business that way.”
“Whilst [ShedBlog] is unique to the construction industry to purely generate an income online as opposed to if you go out, lay a concrete slab and build a shed and and collect your cheque that way. So this is different from the business model side of things but as e-commerce there's nothing real tricky about it.”
“It’s so important as an entrepreneur to get around other entrepreneurs and to share and feed off the energy of other entrepreneurs, to lift each other up. A rising tide, as they say, lifts all boats and no better way than to become a part of Canvas Coworking or other innovation hubs.”
“The idea behind looking for something new, something innovative, a new way of doing something is to act fast. As they say, fail fast…don't spend too much time or too much money on something that's not working.”
Enjoying the Show? Let us know!
Are you a fan of the podcast? If the ideas and tips we share in each episode are inspiring you to become a more powerful professional, advisor and leader, subscribe to the show and leave your honest review to let us know!
Head over to Apple Podcasts to subscribe and review - would mean the world to us!
