KEY POINTS:
Rich Henry was a frustrated twenty two year old bloke, except he wasn't frustrated by the issues most guys his age face; like "where can I find a cold beer or does that girl in the corner have an Adam's apple?"
"I was looking at setting up
an importing and distribution business and couldn't find any decent New Zealand advertising channels that were targeted to male professionals. So I decided to do something about it", says Richard, founder and managing director of getfrank.co.nz.
During Rich Henry's time at Otago University, he was continually searching for and attempting to start up his own business: from lawn mowing, through to owning exclusive rights to import & distribute a top-end male grooming range in his final year.
"The two years from initially conceiving the idea were amazingly lonely, working around the clock and killing myself in exhaustion, frustration, and fear for an idea that no one else really either understood or appreciated, but myself, knowing full well that if I did cave in, I'd be left to carry the regret and burden of 'what if '."
Richard is now 25 and the magazine attracts more than 50,000 readers per month. He describes it as a website for intelligent, professional men. "There's a bit of love and lust, a growing collection of videos and online games, as well as articles about business, politics and fatherhood.
My companies:
Getfrank.co.nz, and RDH Concepts
My interests:
Business, Scuba Diving, Paintball & the edge of anything
The roles that I play:
Entrepreneur, Mentor / Big Brother for " I have A dream" Foundation
List a few of your recent accomplishments that you are proud of:
* Getting getfrank.co.nz into profit
* Buying out our competition - bigfella.co.nz
* Stepping get frank. into the Australian market
* Organising the Getfrank Winter Experience
Did you celebrate them?
Nine days in Queenstown. Need I say more.
I am busy at the moment doing:
* Blue Skying for another round of investment to take the brand up another level.
* Living in a caravan down in Takapuna Holiday Park - cheapest beach front property in Auckland!
* 2 months into Cross Fit training regime, getting the body back up to its peak. (Used to be an international rep in double mini trampoline - 20th World championships, 4th Teams)
My big hairy audacious goal this year is to:
In the middle of a refocus on a new set of goals. Next is to take the site into the Australian Market
I knew I was onto something when:
* Searching for an effective way to connect with a professional male market - crazy lightbulb moment, a common sense solution. Win-win-win-win-win for all involved.
* Took a pen and paper, and wandered around Otago University until the sun came up sketching out a 'catch 22' path to build the business from nothing.
My secret for getting things done is to:
* Post it notes, once something is on the list I won't leave until it's done.
* Self discipline - I get up at 5.30 every morning so I can work without distractions.
* Watching the sun rise over Rangitoto from the caravan window every morning makes it worth it.
My darkest hour was when:
I launched the site, with 40k of personal loans and 60k of my parents money to see no one visiting and only a couple of months liquidity left.
I came through it by:
Dropping out of fulltime work at PricewaterhouseCoopers to work on the venture fulltime to try and save it. I was very lucky to secure Shane Bradley as an Angel Investor, and three years since the light bulb moment the ventures finally cash flow positive.
I came up with the idea for:
Experiential marketing - when I was trying to create a highly geared and brand intensive campaign to promote the website.
How old were you when you first had the idea?
21
How many businesses have you tried before this one?
At least half a dozen. Used my course related costs to fly to Bali to open an importing business, sushi stall, lawn mowing business, tutoring service. Seven times as many business ideas and plans in my scrap book.
What do you do to cope with stress?
Work harder and longer - a dog out hunting doesn't notice its fleas
How many hours do you work each week?
It's a lifestyle choice, I'm either working, socializing, or sleeping - working, always over 60 hours at the moment, up at 5.30 each morning to nail down the content, spend the days networking and building new relationships, and the evenings out or preparing for the next day.
What do you do when things aren't going your way?
Go back to sitting on the cliff and review my strategies.
What is the most important piece of advice you'd give to people who are struggling to create a positive change in their lives?
Search and read about Admiral Stockdale, and the Stockdale Paradox
What is the hardest lesson you've had to learn in life/business?
It's hard work.
What separates successful people from unsuccessful people?
Perseverance, working smarter not harder, actively learning and pursuing new opportunities.
Do you have any daily rituals that help you keep focused and in the right mental state to succeed?
Weekly I sit on a cliff with a pen & paper and map out what I want to achieve in the coming week, and strategies on how best to do that
What was your working background before you started what you are doing now?
Finance & Accounting Graduate, Auditor at PricewaterhouseCoopers
Do you have any school/study qualifications?
Bachelor of Commerce, Finance & Accounting + a diploma for Graduates
2 years more work needed to become a Chartered Accountant
Do you have any other business interests at the moment?
Helping out other up and coming young entrepreneurs.
What are the three most important personal qualities you've had to develop to become a successful business person?
* Vision
* Tenacity
* A Drive to learn
How do you know when you've found a good idea?
It makes logical sense, and all those involved will walk away with significant value, really significant value - otherwise people to provide the time and effort to see their part through.
Do you have a formal goal setting process?
Yearly, Monthly, Weekly, Post it notes. My walls are covered in quotes, ideas and goals so it's always around me.
Have you ever been scared in your role/business? What did you do about it?
Back when I was working fulltime and leveraged up to the hills, just backed myself.
"I'd rather regret something I did, than something I didn't"
What comes first...success or confidence?
Confidence / Belief
How do you build confidence if you're not a confident person?
Start small and then keep raising that bar.
The Parting Shot: When I feel frustrated that things are not coming together as I wish, I proceed to:
Go back to sitting on the cliff and review my strategies.
Dwayne Alexander, our goal guru is founder of LiveMyGoals, the social network for goalgetters.
