Interested in starting your own entrepreneurial journey in business consulting and services but unsure what to expect? Then read up on our interview with Ethan Fricke, Founder of Oversight Consulting, located in Brisbane, QLD, Australia.
What's your business, and who are your customers?
I am the founder of Oversight Consulting. It is a consulting organisation specialising in Quality, Health, Safety, and Environmental Management.
As trusted partners, we don't just work for our clients; we work with them, helping to build, maintain and support their operations by providing safe, reliable, and cost-effective solutions. We are here for the long haul. We offer a diverse range of services to clients in all industries, including but not limited to domestic construction, commercial construction, mining, retail, industrial, transport, manufacturing, accommodation, food and beverage, education, entertainment, and events. We predominantly supply to the construction industry. Happy for you to name any of the clients on our website.
Tell us about yourself
I fell into it after my mum's boss (at the time) had a WHS consulting firm in North Queensland, where I spent 8 years working for him. In the end, I realised there was a gap in the market, and I was working for someone else. I realised that whilst I'm young, I might as well give it a go; if it doesn't work out, then I could always start again.
What's your biggest accomplishment as a business owner?
To date, I don't see them as big accomplishments, but the fact that we have worked with over 350 businesses within 3 years, I was pretty chuffed with that. In addition to locking in a national auditing contract with Edmund Rice Education in 2020. Although it's not necessarily business related, the fact I have managed to buy a Rolex and own a brand new Range Rover Sport, to me, shows success... that my business works and that we are doing well.
What's one of the hardest things that come with being a business owner?
Staff. Staff is always a challenge; if you have too many and not enough work, then you'll have too much work and not enough staff. It's a constant rollercoaster. And getting the right mix is very difficult. When key personnel leaves, there's an issue; sometimes, that pay rise might be better than spending on recruiting a new member of your team.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Stick to what you know - don't go outside what you do. For example, get professionals and build a team. A good accountant, marketing person, content creator, website and IT professional, etc. These people will form your team.
- If you find good people, keep them - staff being one of the biggest challenges. I've always advocated ensuring you retain those loyal to you. I give all my credit to the team.
- Understand how much your business costs you per day. Once you know how much your day costs you, the sooner you'll be better off. You will be able to budget accordingly and have a better idea of forecasting revenue.
Where can people find you and your business?
Website: https://www.oversightconsulting.com.au/
Facebook: https://www.facebook.com/oversightconsultants/
Instagram: https://www.instagram.com/ethanfricke_/
Twitter: https://twitter.com/OversightCon
LinkedIn: https://www.linkedin.com/in/ethanfricke/
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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