Client Snapshot: Advice for SMEs Looking to Begin their Own Venture

Posted April 5, 2011

I caught up with Craig Symes, Director of successful company Pharmacy Value and valued AR Cash Flow client, to ask a few questions on his business and to get some advice for SMEs looking to begin their own start up venture!

[blockquote]Pharmacy Value offer premium quality, Australian-made health products at an affordable price for you and your family.[/blockquote] What made you want to start your own business?

We both worked for really big companies, good and bad and always wanted to get out there and do our own thing. We saw a potential opportunity in the market place and just thought we’d go for it. If we can do it for someone else, why not do it ourselves.

What were some of the problems you faced in your first year?

Capital and financials – getting the business off and running, we had a lot of initial expenses and cash flow difficulties. The other problem we faced is getting enough growth – growing at the rate we need to stay afloat.

What’s your best seller?

Odorless fish oil tablets.

What sets you apart from the competition?

The biggest difference is that we are trying to keep profit in the pharmacies (exclusive ranges) and not in the grocery stores.

What’s advice can you offer to entrepreneurs starting out?

Do as much research as you can spending time to understand the market. Know what you’re getting into. Always work on worst case scenario.

What would you do with your last $5?

Spend it on our kids!