As a celebrated engineer, academic, author, and CEO of Australia’s first B Corporate-certified tech company, TuShare.com, James Moody is no stranger to process-driven success.
And as the TuShare community grows in numbers and spirit, James talks to Thread Publishing about taking the plunge to build a lasting business.
“When we started coding TuShare, we tried it out on unsuspecting friends, learnt a lot, and then rebuilt the whole system.
I feel like it took ages. It was like papier-mâché: layer upon layer upon layer.
Then it starts to get more real. On the first day, you sit on your computer with your new email address and you think, “Okay, I’ll start sending emails.” Then you start.
You just go bit by bit …
Tip 1: Create space in your life
I’ve always been fascinated with the concept of impact – to have an actual positive impact on the world. But it wasn’t until I went on sabbatical with my family in 2012 that the idea for TuShare really crystallised. It’s not until you create space in your life that you can start thinking beyond the immediate and create space for new things.
Tip 2: Pick something you care about
At TuShare, we have an active love for what we’re doing. That’s a really healthy starting point when you’re building a business. What would you do if you weren’t being paid or getting any reward? When this is it, it feels good.
It’s not until you create space in your life that you can start thinking beyond the immediate and create space for new things. James Moody, CEO, TuShare
Tip 3: Work out your business model
I’m a systems engineer, so I always like to have a plan where possible. But part of making a business model is about learning and adjusting as you go. The strategy in small business is like testing. You test a route as quickly as you can, and if the test passes, that’s great. You continue down that path, and if it fails, you try a new path.
You need to have a consistent goal and vision but you need to test the pathways. For me, that’s one definition of a start-up: a company that’s still working out its business model. The good part is that you don’t know your business model yet, so your upside is unbounded!
Tip 4: Scale it up
Once you’ve worked out your business model, then start asking, “How do I scale that?”
- You have to be nimble yet disciplined. You have to do both at the same time.
- You have to eat your own dinner. Create a product that you and your immediate friends would use. Do people want to do what you want them to do?
- If you’re a technology start-up, find a great chief technology officer as quickly as you can.
- Then keep it simple. We were a bit too complicated to start off with. We’ve been reducing the complexity of TuShare ever since.
Tip 5: Ask for help
Don’t be afraid to ask for help. And don’t get too protective. The idea is only one per cent; the execution is ninety-nine per cent. Too often we sit on an idea and just don’t execute because we’re afraid that somebody else might take it. Just go out there. Get moving.
Tip 6: Always strive for more
We’ve come far, but it’s always about how much more we have to do. We want people who use the service to love the service and tell other people about the service. That’s it.”
TuShare is an online marketplace where every item is free. It is also Australia’s first tech company granted B Corp status for driving social change in Australia. They harness a mobile app and website to make it easier than ever to give things you no longer need to each other.
ABC’s New Inventors judge and former CSIRO executive James Bradfield Moody and Kohei Nishimiya (named one of Fast Company’s 100 most creative people in business) developed TuShare which taps into everyone’s natural sense of generosity.