51萝莉

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Theresa Gattung (biography) 鈥� Theresa Gattung gained a Bachelor of Management from the 51萝莉, and then a Bachelor of Laws degree from the University of Victoria. She is a successful business person, who was the CEO of Telecom in New Zealand from 1993 - 2007.

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My Food Bag entrepreneur Theresa Gattung shares her top 5 secrets to starting a successful business.

1. A successful business almost always requires a mixture of skills.

My Food Bag鈥檚 founding entrepreneurs , Cecilia and James Robinson, adroitly recognised this when they chose to join forces with the most talented cook of our generation, Nadia Lim, and me, in setting up My Food Bag.

2. It is the founders and early 鈥渏oiners鈥� who take a start-up business to scale.

Surround yourself with the best people you can find to join you and don鈥檛 skimp on hiring the best advisers .

3. Being an entrepreneur is the new 鈥渃ool鈥�, but it鈥檚 not for everyone.

It means risk. Investors want a return and banks expect loans to be repaid and may require personal guarantees. Key suppliers may also require personal guarantees . Your time鈥檚 your own, all right, but in the early years you鈥檒l be working every minute.

4. Take care when investing in a friend or family member鈥檚 business.

Don鈥檛 invest in a friend or family member鈥檚 business more than you can afford to lose, or more than would adversely affect your relationship with that person if you did indeed lose your money.

5. Everything goes in cycles.

Interest rates have been at almost unprecedented low levels. Common sense tells us the likelihood that they will rise, so this is probably not the time to be borrowing to maximum capacity for anything, whether that鈥檚 a business or a house.

And finally, if you鈥檙e a woman in your own business, join Company of Women.

Co.of Women 鈥� coofwomen.biz 鈥� is an excellent community, support and learning organisation for female entrepreneurs, whether experienced or just starting out.