BusinessInterviews

Five questions: B2B Daily Deals

Coming from a background working with business directories, Adam Fairhead teamed up with a colleague to launch B2BDailyDeals.com.au, a business-to-business daily deals site. Four weeks after launch, things are getting a little crazy for the startup.

How fast-paced has the first four weeks of the business been?

To be completely honest, it has been somewhat overwhelming. When we were putting the concept together, we had some idea of how well we thought the site would perform. We had to, otherwise, we could not have considered it a viable business model. However, I don’t think either myself or my business partner considered that we would achieve the level of success we have in such a short period of time. Within four weeks we had 8,000 registered users, far more than we could have hoped for so quickly post-launch.

What was it like planning the business with your partner?

As anyone who has operated as a partnership will undoubtedly know, there are both pluses and minuses to having a business partner. On the plus side, we have a very solid working relationship based upon trust and mutual respect. On the minus side, there are the odd heated moments, usually as a result of operational stress or other external factors. Overall though, we make a very balanced team and we work together very well indeed.

What was the biggest challenge you faced launching the business?

Without a doubt, the biggest challenge we faced was our self-imposed deadline. We very much wanted to be the very first daily deals site to service the Australian B2B marketplace, which we did achieve. Several times we [fell behind], and each time this happened it was very stressful for all of us. Ultimately, we knew that a delay was preferable to failure, so we had to ride with it.

How demanding on your time is the operation of the business?

The simple answer would be very demanding. Several months ago now, I was congratulated by an associate of mine on the impending launch of the site. He welcomed me to what he called the ‘4 am club’. At the time I thought this was a joke, my coffee habits and I am now well aware that he wasn’t joking.

How important is social media to the business’s growth?

We always knew that social media was going to play a huge part in the success of the site. Social media is actually pivotal to the viability of the site overall. If we examine the concept of group buying, we find social media at its core. For us, social media allows business owners to spread the word of our deals and the savings to their various entrepreneurial friends.

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