Becoming a business owner | 3 min read
Challenge is what drew Mark O’Shea to being his own boss. After years of working in hospitality roles, from a beverage manager to an executive chef, Mark says he was ready for a new challenge and a new career path. After 11 years with Quest Apartment Hotels, and four years at his current franchise in Bundoora, Victoria, Mark still loves the flexibility of his role and is proud of the success of his business.
There’s so much variety
Mark certainly keeps himself busy, and as the owner he takes on the day-to-day responsibilities of running the hotel. “My normal day starts at 7am. I try to hit the gym prior to this but ensure I’m at the front desk to speak with my regular clients and assist reception with the checking out of guests. The day is made up of overseeing housekeeping, reception, sales and doing my daily accounting requirements,” says Mark. His day normally finishes around 5-6pm. Mark deals with a large variety of personalities in his role, both with his staff, and the guests staying at the property, the majority of which are business travellers.
Having so much variety in his role was something that surprised him when he first started. “Prior to this I came from a hospitality background, so there was a lot to learn and many challenges,” says Mark. Managing his cash-flow in quieter times has been one such challenge, and is a business frustration that he offsets with the flexibility that he loves in his role.
To ensure he is always improving his work-life balance, Mark believes that having a great team behind him is crucial. He’s also constantly trying to work smarter, rather than harder to guarantee his franchises continued success.
It’s about being responsible
“Running your own business is very rewarding financially,” says Mark, which is what he feels gets most people out of bed. But Mark also has other responsibilities.
“As a family man, that’s the main reason I own a business. It’s for my family, and I’m doing my best for our future,” says Mark. He also takes accountability for his team of 20, which is made up of housekeepers, front office staff and administrators. Ensuring his team are happy, and have secure employment is another great motivator.
Mark’s key tips for business success
While Mark was confident in himself, and his ability to run a business, his key advice for anyone that’s unsure about taking the leap is:
“Jump in and have a go, because you never know until you give it a try”.
- Ensure you have your finances under control and don’t over leverage
- Have the right support and mentors around you to help you through the journey
- Remember that in the end, the rewards are far higher as your own boss, than working as an employee
Looking to take the next step and buy your own business? Find out everything you need to know with our ultimate guide on how to buy a business.