Interview with David Reading

David Reading has maintained an entrepreneurial career since launching the Parity Group in Sydney in 1978. He was appointed as a Divisional General Manager for Unisys Australia when it was formed in 1986.

David began his career studying mechanical engineering at Kings College London and started his business life working on IBM Mini computers (well not so mini really), before emigrating to Australia in 1973.

His business became only the second company in Australia to offer contract labour to the computer industry quickly building to 150 contractors. The company participated in the 1983 launch of the IBM personal computer in Australia, becoming the largest supplier in NSW before expanding to all State capitals and employing 160 staff.

Riding the technology wave David survived the DOT COM crash and shares the importance of embracing change and changing business models when necessary.

Best Lessons from David’s past

1. In business nothing is forever – so anticipate change and initiate it
2. Relationships are as important in business as they are in your personal life
3. Risk is Good as it creates opportunity – but financially manage that risk
4. Enjoy what you are doing – or don’t do it
5. Have a Vision for your future – know why you are doing what you are doing.

Top Tips

Say NO more often

• We all take on more than we have time to do justice to everything
• Too many activities makes us too busy to enjoy what we are doing
• Saying NO means you are choosing what is the most important

Constantly explore opportunities for change

• Often it is best not to be the first mover – new ideas are often wrong
• Observe and learn what others are trying and adopt and adapt the good
• Look outside your own specific marketplace to borrow new ideas

Have a business that is operating in a growth market

• If you current market is not growing, enter one that is
• Use the concept of Pivoting to modify current products to new markets
• Find ways of servicing different geographic locations that are growing

Be wary of Cost Reduction to build profit

• Reducing costs to be more efficient should always be done
• Reducing costs to solve a bad business system is a death spiral
• Improve a poor performing business by creating new revenue streams

Never run out of money

• Always be prepared to walk away from a business that is losing money
• Most new businesses fail so look for the signs that this is one of them
• Give financial support to your rising stars not old favourites

Operate to a 90 day planning cycle

• Develop short term detailed business plans and expect them to be achieved
• Have a detailed review of achievements at the end of each period
• Have a mini SWOT session to determine key issue for the next Period
• Create a new 90 day business plan and repeat the cycle.

David's contact details:
David Reading
Mobile:     0411 608 517
Email:      david@teamsunshine.com.au
http://teamsunshine.com.au/

About Geoff Moller:
Geoff is a management consultant, business adviser, and a trademarks and IP professional. geoff@geoffmoller.com

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