It’s not “kids business” for Aonghus Stevens, he is a smart young entrepreneur and he is serious about his company being successful!!
Sarah- Please tell me, how you got started and where other kids starting a business and parents can find out more info about you.
Sarah: Please tell me how you got started and where CEO Kids and parents can find out more info about you.
Aonghus: I read a little exert in a school text book about UAVs and I had always been fascinated in them up to this point so it just intrigued me further. I then went home and decided to do some research of UAVs in the Australian marketplace and found their use to be non-existent. I wanted to do something to service this demand and the community as Unmanned Aerial Vehicles is an awesome tool. That’s when I decided to talk to some suppliers about running a little hobby business to service the market. After a little while (actually a large amount of time) I ended up with over 90 different platforms, 12 suppliers and contacts worldwide. All this started from behind my computer screen.
Twitter: @UAVAus
Facebook: facebook.com/uavaus
YouTube: youtube.com/user/UAVsAustralia
Website: www.uavsaustralia.com
Sarah: Where did you come up with your idea and what investigation did you do to help you know that this would be a great business?
Aonghus: I did a lot of reading into UAV uses and then researched if these uses were being utilized in Australia. There was a lot of use in Universities and research programs but nothing at all in the commercial marketplace.
Sarah: What do you think are the most important skills you have that help you in business?
Aonghus: I think my determination to be different and think outside of the box has really helped with myself confidence, because I am always conversing with people at least twice my age. I have to be far more grown up than I should be at my age and sometimes this does prove to be difficult!
Sarah: What were the biggest obstacles, problems you had in getting started in business?
Aonghus: My age was a big one. It shouldn’t be, but when people want to buy products that can be worth $2-3 million, it’s sometimes impractical to trust a 17 year-old (or 15 year-old when I originally started!). Also, geography can be a restraint. As Australia had little to no UAV market established, I was very much on my own. With most of my suppliers being on the other side of the world, I had to wait usually 12 or 14 hours minimum before I got a reply to emails and communication.
Sarah: What about college/University? Are you planning on going?
Aonghus: I am definitely planning on going to University (college) as I still have a lot to learn. Sometimes I forget that I’m a kid still and that I don’t know everything. Some things can’t just be learned overnight and that’s why I still want to go to University.
Sarah: What kind of expenses or start-up costs did you have when you started your business and where did you find the money or capital to start?
Aonghus: I used the money out of my bank to finance the company. I had relatively low startup costs because of the business model I am running. The thing that used the most money was advertising. I spent in excess of $1000 on Google in 2 months (it doesn’t seem worthwhile at first but it has paid off now). There are now also the constant costs of maintaining such an enterprise.
Sarah: Do you do EVERYTHING by yourself or do you have people on your team that work with you? If so – how did you find people to help you along the way?
Aonghus: I do most things by myself, but I do have a few mentors from Universities and also other young entrepreneurs. For example, I am constantly in touch with a University in Queensland, Australia, about news in the Unmanned Vehicle market as they run one of the world’s leading research centers for aerospace automation.
Sarah: What ideas and approaches do you use to market your business and what do you find works best for you in getting the word out about who you are and what you are doing?
Aonghus: I use Twitter and Facebook a lot. Although my target audience does not really use it, I use my age to make people talk. Then, for example, they might tell their parents and then they might pursue UAVs for their sector. Social networking is readily available to me (as I am young), so I would definitely recommend to any young businessperson to use it.
Sarah: How do you balance it all? Do you find that you still have time to be a kid?
Aonghus: I just try and keep certain times for being a kid. Like when I am at school, I never let work interfere with my work and breaks. I save it purely for weekends. Due to the type of business model I run, there is not really much time needed. There are some times when there is a huge amount, but it is very cyclical.
Sarah: What is the best advice or tips you would like to share with young entrepreneurs?
Aonghus: Don’t try and necessarily change the world initially. Work small and then grow the business as you grow as a business person. I tried to start big after my initial lull, but I found it very hard. It can also be very rewarding, but don’t rely on it coming instantly. Expect to get back about the same amount you put in (at least until it is well established). Also, use the resources available to you. For example, social networking is an absolute money saver and awesome business tool. Just make sure you don’t spam people!
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