logo
Receive the latest mybusiness news
SUBSCRIBE TO OUR NEWSLETTER
Copyright © 2020 MOMENTUMMEDIA

‘You’re missing out’ if you’re not exploiting this

Adam Zuchetti
Adam Zuchetti
31 October 2016 1 minute readShare
Snail indicating sluggish growth

The founder of a multimillion-dollar media business says SMEs have a key competitive advantage in the business world, and to ignore this opportunity is to miss out.

Alborz Fallah established the online car review and information portal CarAdvice, of which a majority stake was sold to Nine Entertainment Co. in mid-2016 for $35 million.

He says larger competitors could quite easily have killed off his start-up business in its early days, but were too slow and bureaucratic to do so.

Advertisement
Advertisement

“There was a clear sense that the old media was quite afraid of the internet and didn't understand it or didn't have the resources or willingness to move quickly on it,” Alborz tells My Business.Snail indicating sluggish growth

“In all reality, in the early days or even five years ago, if News [Corp Australia] or Fairfax [Media] could get their s*** together for five minutes they could have killed our business; in a sense of their audience is so massive and their resources are so huge that if both of them put together a decent media platform online, we could have become useless the next day.”

 

According to Alborz, who continues to run CarAdvice and also mentors other entrepreneurial start-ups, smaller businesses should use their size to their advantage to get new opportunities to market quickly.

“It's one of the things of being a nimble business … we made decisions quickly, whether they were right or wrong, without spending weeks or months debating,” he says.

“It probably took us a day or two to make a decision and we would go with it. Most of the time we were right; sometimes we were wrong. But at least we were wrong quickly and we found out and then reversed course and did it the other way, rather than waiting enough time that the decision was [redundant].”

Alborz adds: “I think that's generally one of the biggest benefits of a small business, and if you don't exploit that, then I think you're missing out.”

SPONSORED CONTENT

 

‘You’re missing out’ if you’re not exploiting this
mybusiness logo
Adam Zuchetti
Adam Zuchetti

Adam Zuchetti is the editor of My Business, and has steered the publication’s editorial direction since early 2016. 

The two-time Publish Awards finalist has an extensive journalistic career across business, property and finance, including a four-year stint in the UK. Email Adam at [email protected]

Leave a Comment

Latest poll

Which of the following stimulus measures has had the greatest impact on your business?