The Searchers Guide to working with Debt
A podcast for Searchers and the EtA community to demystify being a CEO working with Australian debt requirements.
Through my experiences of a career so far in Banking, Consulting and Debt Advisory, I have found there to be a significant conceptual gap in the understanding of how banks and lenders work at different levels of the market and what to consider in being a CEO or board member for the first time.
Season 1: What's inside the Black Box?
In support of the ETA community and the ETA forum, I’ve asked some of my colleagues to help me explain some of the concepts that will help searchers and first-time CEO navigate the Australian SME lending market and what to consider in stepping into the CEO role.
Season 2: How to Navigate Business Turbulence; panel introductions
I will be hosting a panel discussion with a number of experienced finance professionals seeking their views on how debt providers Navigate Business Turbulence.
Ahead of the ETA forum, we will connect with each member of the panel and provide some background and context to who will be part of the group.
The Searchers Guide to working with Debt
Dragan Petrovic - The start-up experience – was being a start-up CEO all you expected it would be?
During the start-up phase and being the CEO of Nura, several key points of reflection emerged. Here are the main takeaways:
1. The Genesis of Nura: The idea for Nura originated from a discussion among a group of music-loving engineers who marvelled at the technological advancements in music reproduction. They pondered the possibility of creating a sound system that could adapt to an individual's unique hearing capabilities, resulting in a perfect match between the sound system and the listener's hearing.
2. Transitioning Careers: The decision to pursue Nura as a start-up involved leaving comfortable corporate jobs and embracing the challenges of entrepreneurship. Despite the potential risks and financial uncertainties, the founders were driven by their passion for the concept and the belief that doing something they truly cared about could lead to success.
3. Passion and Success: The story of Pascal Rigo, a baker who pursued his passion and eventually achieved remarkable success, served as a reminder that doing what one truly enjoys can lead to personal fulfilment and even financial rewards. Following one's passion in a chosen profession can lead to higher levels of expertise and commitment, ultimately increasing the chances of success.
4. CEO Role and Learning Opportunities: Becoming the CEO of Nura was an exciting challenge and a valuable learning experience. As a first-time CEO, numerous aspects of running an organization were unfamiliar, especially coming from a larger corporate background. Setting up various functions, such as HR, governance, compliance, and finance, required a deep dive into understanding and implementing these essential components.
5. Complexity and Growth: The start-up journey presented numerous complexities, including dealing with operations in different countries, managing multiple currencies, supply chain logistics, and regulatory compliance. The rapid growth of Nura further amplified these complexities, highlighting the need for efficient processes and systems to support the expanding organization.
6. Need for Speed and Growth: In the venture capital world, emphasising growth and speed is vital for creating a successful start-up. The pressure to achieve significant growth and create a unicorn-like outcome is inherent in the VC model. The steeper the growth trajectory, the more favourable the outcome.
Overall, the reflections during Nura's start-up and CEO journey highlighted the importance of pursuing one's passion, embracing learning opportunities, dealing with complexities, and navigating the growth-oriented nature of the venture capital landscape.
