Five Things We Learned from Mark Bouris’ CUB Keynote
We got advice from one of Australia’s most recognisable businessmen.
Mark Bouris is one of the country’s most successful and recognisable businessmen. The 59-year-old was welcomed back to Club of United Business (CUB) Darlinghurst, for his second speech, as host and CUB CEO Daniel Hakim talked through the highs and lows of business. The man behind Wizard Home Loans and Yellow Brick Road also offered tips for success throughout your own journey. Here are our five take-aways from the event.
Just do it
For businessmen and women, entrepreneurs and the like, looking to start their own business, the fear of taking the first step can be enough to quash any action. Mark’s advice on taking the leap is that: “it’s bad form to overthink it, just do it and back fill it later”, he continued, “If you sit around all the time, planning every tiny detail you’ll spend the whole-time planning and no time doing anything. Just have a crack.”
Mark Bouris & Daniel Hakim speaking to CUB members.
Failure is an almost unavoidable aspect of entrepreneurship, throughout his career Mr Bouris experienced a number of blips and bumps. Speaking of the hardships that are so often endured along any person’s career, Mark explained the importance of learning from failures and being agile enough to recognise and correct mistakes.
“The end of it is, do you have the character to recognise in yourself that you need to change, or pivot the business and do you have the flexibility to make those adjustments when things aren’t going your way and then see it through.”
Know the purpose and message of your business
A theme throughout the night was the importance of messaging and understanding the core purpose of your business. No better was this exemplified than through the story of Kerry Packer buying into Wizard Home Loans. Before finalising the deal, Mr Packer asked Mark “what is your business?”, of course the answer was not a mortgage broker. The answer was what is the purpose of your business, which in Mark’s case was to help people through lending to get what they wanted, whether it be a new pool or the house of their dreams.
Accountability is key
“Not doing something is doing something,” says Mark. In talking about accountability, Mark explained the importance of keeping your promises and committing completely to achieving your goals, whether they be placed by you or by stakeholders and partners in your business. However, this isn’t a caution against making promises, instead Mark encourages you to “make promises and keep them.”
The media is a powerful ally
As CUB CEO, Daniel Hakim posed to Mark, “I don’t think there has been another businessman in Australia that has utilised the media as well as you have.”
Mark explains “if you have some way of cutting through the media its ridiculously valuable in getting your story out, your message out and your brand out.”
Throughout his ventures and partnerships, Mark leveraged the media heavily, partnering with people who gave him access were media partners. The case study being his partnership with the Packer family giving him access to the Nine Network.
Left, Bouris & Hakim – right, CUB members mingling pre-event.
Partnerships are vital
“You’re not going to be good at everything, so become good at something and find others to fill the gaps,” explains Bouris. The sentiment is there is great value in partnerships and meeting people with skillsets and ideas different to yours that can help you along your business journey, a seemingly fitting final word in a club designed to form such partnerships
Subscribe to the Newsletter
Recommended for you
A new report co-authored by Bain & Co. outlines two scenarios for growth in the new Roaring ’20s.
May 19, 2021