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Wise words of advice from my amazing interview guest this week, the lovely Janine Allis!
Janine is an incredibly successful entrepreneur. She founded Boost Juice in 2000 after visiting the US and realising there weren’t any healthy and delicious fast food options in Australia.
Boost Juice now has over 400 stores in 13 countries, and has generated $2 billion in sales. That’s a lot of bananas! (3 million bananas, to be specific)
You may also know her as one of the ‘sharks’ on Channel Ten’s Shark Tank. I was super keen to ask her about the show, what makes an effective pitch, and what other knowledge bombs she had for a young entrepreneur like myself. She also answers some of YOUR questions, so be sure to listen to the end!
Notes from the episode:
- On Shark tank, the entrepreneurs stand for a MINUTE in silence (awkward!) and then have 3 minutes to pitch their idea – then it’s time for Q&A.
- When you’re out of your league or trying to wing it, you appear unconfident when pitching
- When pitching, look at it from the point of view of the investors: “If you’re pitching and it’s just about you and what you need, you’re not going to get anywhere.”
- “Once you’ve got a win win…it’s an easy sale. It’s like you’re doing them a favour.”
- All young businesses are a vacuum for cash.
- How Janine dealt with her finances early on in the business: “Every cent I spent had to have a return.”
- Sometimes a big cash injection can be a bad thing! You should have enough money to keep you going, but not so much it prevent you from doing proper research.
- Why doesn’t like asking for favours?
- Why it’s so important to pay attention to the number from DAY 1.
- How she met mentor Geoff Harris, co-founder of Flight Centre
- What’s the best advice Geoff gave her?
- Listener questions! George: What animal would you be? Ceyda: Worst advice you hear given to others? Rachel: Number 1 tip for work/life/health balance?
- …and much more!
Did you enjoy this episode?
If so, leave a comment below! I’d love to hear: what’s one thing you learned from Janine?