"Top operators stick around"
Herald Sun (08 April 2009)
Article by Paula Beauchamp
 For many businesses, November, the midpoint in Australia's first negative quarter in eight years proved hard going - but not so at The Wall Sticker Company.
It was the company's best month since it launched in 2006. Since then, The Wall Sticker Company's turnover has increased month over month.
"We've got more orders coming in all the time, so luckily the recession is not having a bad effect on our business," co-owner Fiona Gathercole said.
In fact, the downturn could be helping.
"People are spending more time at home and they want their homes to look good," said Ms Gathercole, who founded the company with friend Jenny Menz.
"We're offering an affordable product for people who still want to decorate, but are trying to be more careful with their money.
"The downturn is probably making people look outside the square more and they might be trying our product, when previously they would have gone for something more conventional."
While the current economic climate may be helping to increase The Wall Sticker Company's fortunes, business coach Warren Harmer says the company's success is down to the owners' sheer hard work and planning - whatever the state of the economy.
"They are dedicated and innovative," Dr Harmer said.
"It's not all doom and gloom out there. There is always scope for someone who does something better than everyone else."
Dr Harmer says it is clearly possible to grow your business in a downturn - new opportunities are presented and old ones remain - and to win market share from someone else.
The Wall Sticker Company's turnover, for instance, has grown threefold in the past year.
First, each business should research how the downturn is affecting its individual market, Dr Harmer said.
Some sectors, such as recruitment and tourism, are slowing, while demand for certain products - condoms, chocolate and anything "green", for instance, - is growing.
"You need to understand where your business fits before you review your strategy," Dr Harmer said.
He suggests researching new or additional products that your clients or target market will buy and researching other market sectors.
"There may be new opportunities or niches that you could seize just by keeping your finger on the pulse," Dr Harmer said.
The Wall Sticker Company, for example, has expanded the price of its products to include more affordable options, priced as low as $25.
"We've been trying to open things up so everybody can afford it," Ms Gathercole said.
The company now makes wall stickers for every room in the house and for application on furniture. Previously, the company concentrated on products for children's rooms.
At a recent lifestyle trade show in Sydney, they exhibited in the homeware's section and picked up several new retailers wanting to stock their products.
"We've captured people who hadn't come across us before," Ms Gathercole said.
By contrast, all of their competitors exhibited in the children's section.
Ms Gathercole believes forward planning, proactive PR, constant changes and competition on the company website and new design monthly have all contributed to the company's growth.
The Federal Government's www.business.gov.au site contains a Growing Your Business checklist.
It asks questions such as "Have you considered expanding your business online?" and "Have you thought about exporting goods or services?"
Mike Silby, the site's general manager, said the site continues to attract increasing numbers of visitors.
"There is certainly a thirst for information at the moment," he said.
The Department of Innovation, Industry, Science and Research is assessing tenders for qualitative market research on the www.business.gov.au website.
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