By Narelle Coulter
NAOMI Simson is petrified of sharks.
The founder of one of Australia’s most successful internet businesses, RedBalloon, a blogger with 1.3 million followers and star of the channel 10 reality show Shark Tank, fears nothing more than coming face to face with a finned predator, whether it be in the ocean or the confined spaces of an aquarium.
She doesn’t even have a swimming pool, she joked with the more than 380 ladies at last month’s Casey Cardinia women’s business lunch, in case a shark takes up residence uninvited in her backyard.
Overcoming fear was one of Ms Simson’s key messages as she spoke about her business success, her private life and dispensed tips on passion, positivity and perseverance.
She held the audience of business women from across Casey and Cardinia enthralled as she strode the stage in her trademark red – red coat, red animal print wrap dress, pearls and black high heels.
Ms Simson launched RedBalloon on 1 April 2001 with $25,000 of her family’s savings. Her idea was to sell experiences and memories rather than physical goods.
“In 2001, I didn’t know anything about the Internet or websites, or anything. But I thought how hard can it be?“
She had young children at the time and thought starting her own business would provide work-life balance.
“I thought I could play with my daughter in the day and work at night,” she said with an ironic chuckle.
“I soon had the kids asking ‘Why do we have to go to bed at 5.30pm’.”
It was an agonising two months and four days before RedBalloon’s first customer purchased a $99 stress busting massage.
Her margin was $9.
“It was the longest two months and four days of my life,” she grimaced.
She said the first sale was important because it meant that “someone trusted me”.
In its first year, RedBalloon sold 300 experiences, a year after that it was selling 300 a month.
“It’s been an absolutely exciting ride,” Naomi said.
“The hardest thing for me was learning to let go. Initially, I did everything. I even used to blow up the balloons.
“To be a leader you need followers.”
She started hiring staff, friends of friends at first before it became clear she needed to “recruit a recruiter who knew what they were doing”.
She slowly built a loyal team and prides herself on RedBalloon’s positive culture, with the company constantly being flooded with unsolicited resumes from people keen to join the team.
Ms Simson believes “culture is everything”.
“Companies with highly engaged teams have loyal customers.”
She said there was nothing more harmful to a company than disengaged employees.
Even worse are actively disengaged employees who “actually hate you”.
She said the scariest number of all was that 23 per cent of those people who hate you plan to spend their whole career with you.
“I say set them free. Let them go work for the competition.”
Ms Simson said fear was the greatest impediment to success.
She recounted an anecdote about conquering her fear of swimming with sharks to make a promotional video for RedBalloon and the fear that almost made her say no when the producers of The Shark Tank knocked at her door.
Friend and mentor, Melbourne art dealer Carole Schwartz, convinced her to take on the role by pointing out that exposure on national television would help Ms Simson spread her message and share her insights with millions of Australians.
Her answer became an emphatic yes.
She admits it is “weird” to see herself on national television, but that it has been “a wonderful privilege to present to Australians all sorts of innovations”.
Ms Simson was candid about her private life and the obvious pride she has in her two children.
“My poor kids get pitched all the time. ‘Can you ask your mum if this is a good idea?’
Billed to speak at her son’s valedictory dinner, she was swiftly told “Mum, if you embarrass me you’re dead”.
Instead, she told the audience of young graduates and their families to remember three “bones” and “you’ll be alright”.
Her three bones to success: a wishbone representing your dreams, a backbone representing resilience and a funny bone because “if you’re not having a laugh what’s the point”.
