Today we are interviewing a former engineering consulting firm owner turned tech startup entrepreneur. Hey Nish, can you give us a bit of background of your business experience? My experiences so far are primarily based in traditional businesses, not tech start-ups. While I've toyed with some absolutely awful start-up ideas in the past, they've not made it past the thought experiment stage until now, with my current project, CloudSmart. What kind of traditional business? For the past few years, my main focus has been my structural engineering consultancy. This business has been able to generate enough revenue to provide me, my mother and younger sister a comfortable lifestyle, so I would consider it a financial success, but nothing of particular note. About 18 months ago, I dabbled with two online stores, each targeted at one gender. Driftwood, the store for females, was able to generate a surprising amount of revenue in a month. But I (stupidly) decided to not to continue with it because it wasn't making anywhere near as much money as the engineering firm. The male store, Flexed Urban was a similar story. So if you don’t mind me asking, what happened to your consultancy business? The business is effectively closed because of what it has done to me as person. As a matter of weeks ago, I have cancelled all work with my clients (apart from one) and let both of my engineers go. What lead you to that decision? The stresses of looking after every component of the business, looking after staff and looking after customers gave me sleepless nights, serious weight gain, and panic attacks. I just wasn't cut out for it. I decided I had enough. My life was suffering and I wasn't really going anywhere. Realistically, the most I could have hoped for was growth of $10k - $20k a year, but it also meant giving up on a lot of opportunities. I've been lucky enough to work from iLab Accelerator via their Incubate program, which has exposed me to a world of business of higher risks, but many more learnings and opportunities for personal and business growth. What are some takeaways lessons from your experience? I've learnt not to work in an environment that I hate! I haven't had an income for the past month, but I still have clients who want to hire my firm. I could deliver work for pretty decent pay, but the horrible memories keep rushing back! So what is next for you? I've been recently accepted into the iLab Germinate program with my first true start-up business, CloudSmart. I'm have to work twice as hard than I did in my engineering firm. The chances of this business being revenue positive in the next year are pretty slim. But I absolutely love it. I wake up early because I want to, stay late because I want to. I want to put in the hours because I want to, not because I have to. I'm learning every day, I'm being pushed to achieve new goals every day, and I'm being guided by some amazing people. It's one of the best things that have ever happened to me. Thank you very much for your time, I hope this has been therapeutic for you. Good luck with CloudSmart!
