Source: Wealth Creator Magazine March/April 2006

I'm passionate about supporting women in business. The ABN community was one that I turned to in my early days in business to provide me with a sounding board. Today the ABN is a wonderful community of over 10,000 women who share ideas and contacts. It makes an important contribution to our economy and to our entrepreneurial women through the business education, networking opportunities and access to role models that it provides.

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Suzi Dafnis: The Den of Success

Source: Wealth Creator Magazine March/April 2006

Suzi's five keys to success:

  • Never ever give up
  • Never compromise your integrity
  • Educate yourself. Read, watch attend seminars - for life.
  • Surround yourself with people who expect more of you than you do
  • Have a big life purpose

Suzi Dafnis: The Den of Success.

Suzi Dafnis is in the business of motivation. For the past 12 years through businesses Pow Wow Events and Australian Businesswomen's Network, she has provided a self-development platform to help ambitious men and women achieve their goals.

Last seen in Australia on business show Dragon's Den, Suzi has built a solid reputation as one of Australia's top businesswomen, being a finalist in the Telstra Business awards in 2001 and nominated in 2003 for Ernst and Young's Entrepreneur of the Year awards. Suzi shares her views on business, women in business and personal development with Wealth Creator.

WCM: What did you aspire to be when you were growing up? What were your dreams?

Suzi Dafnis: Growing up I wanted to be a dancer, singer, or some sort of performer. Fame and fortune were definitely goals though I don't know whether I really had the talent to make it big in the arts. Regardless, my goals (which were fuelled each week as I watched music shows religiously) didn't get much support at home. Having had little schooling themselves my Greek parents supported academic endeavours far more than artistic ones. My dreams were to travel and to spend time overseas. Mission accomplished.

WCM: What was your first job and what did you learn from it?

SD: My first job was at a sandwich store in a suburban shopping centre. I was 14 at the time and secured the job before it was legal for me to work... and as soon as I was old enough... they hired me. I worked there after school for three years. I loved it cause it gave me money, which in turn gave me lots of freedom as a teenager. It taught me that working hard, regardless of the work you do, can be rewarding.

WCM: How did you get started in your current industry?

SD: In my early 20s I worked in the music industry, which I loved. I then travelled to Europe as so many young Australians do. When I came home I was really at a loss as to what I wanted to do with my life. A friend from my music days referred me to a personal development course that taught business and life skills using accelerated learning methodologies. I loved the program and the message and as I wasn't working at the time, volunteered at the organisation that produced the event for a few weeks, one day a week, to learn some new skills and finally they hired me as their Marketing Coordinator.

WCM: Did you always have an entrepreneurial streak or business brain?

SD: What I do know is that I have loved business and personal development since I was 18. I have always wanted to develop myself as a leader, communicator and to make an impact in the business community beyond being wealthy. My personal mission is to support the human spirit and business has been, and continues to be a vehicle for me to fulfil that mission.

WCM: You started Pow Wow Events in 1994 with your partner, what was the reason behind starting a business like this?

SD: Both PJ (Peter Johnston) and I wanted our financial freedom and an avenue in which to be creative. An educational business gave us a playing field in which to share that goal with others and to continue our own love of learning.

WCM: How much capital did you invest to get it up and running?

SD: We started the business with $30K in savings. Since 1994 we've had an overdraught once, for six months, and have otherwise grown the business on cash flow.

WCM: What difficulties did you face initiallyand how did you overcome them?

SD: I didn't have any schooling in how to run a business. When you're in small business you need to wear a lot of hats ... and so the learning curve was very steep. I hated sales. Actually it wasn't so much hate as it was terror. The idea of taking a customer service call and converting that person to a sale filled me with dread. So, I decided if I became a great marketer I'd never have to sell in person. In the first few years of doing business I really learned what I did not know ... and I had to skill myself up and bring in people with talents that I didn't have. Luckily for me PJ and I have different but complementary skills, and we are great compatible business and life partners.

WCM: Was it difficult to attract decent speakers?

SD: It wasn't difficult to attract decent speakers and it still isn't. It Is however difficult to attract exceptional speakers who share my values and who are playing a really big game on the planet. We never look for a speaker, we look for educators who can take a platform anywhere in the world - they need to be that competent and charismatic. Finding those with similar values occurred mainly by referral. The speakers that we've had most success with are those with whom we were most aligned - and who had a mission beyond making money. They had to have a mission like that of Pow Wow Events International - to transform lives and change the world.

WCM: How did the business grow - what strategies did you put into play.

SD: The business grew though dedication to marketing and innovation. Pow Wow Events seminar technology is unique and progressive (and has been copied by others), but marketing is the main area in which we differentiate ourselves. Pow Wow Events began using internet marketing, e-newsletters and email marketing well before most companies (regardless of industry). We continue to look for innovative ways to delivery business and personal development education.

WCM: There is some scepticism about the seminar circuit, how do you overcome this?

SD: The only way to overcome it is to be meticulous with whom we represent and who we are aligned with.

There have been a lot of fly-by-night cowboys in the industry over the last few years. The unfortunate part about this is that some damage was done to an industry that was adding a lot of value to a lot of Australians. Today, many of those cowboys have gone, thankfully, and the industry is returning to a more honest place.

WCM: How did you balance growing Pow Wow Events, with running ABN

SD: I don't actually balance well - so I just work long hours. Pow Wow Events has supported the ABN with resources (hundreds of thousands of dollars of support over the time) for many years ... and it's my way of giving back to a community that I belong to and that I love.

WCM: What was the reason behind ABN?

SD: I'm passionate about supporting women in business. The ABN community was one that I turned to in my early days in business to provide me with a sounding board. Today the ABN is a wonderful community of over 10,000 women who share ideas and contacts. It makes an important contribution to our economy and to our entrepreneurial women through the business education, networking opportunities and access to role models that it provides.

 

WCM: How do you recognise that there is a need for certain services and markets?

SD: Up until now, because I am the Pow Wow Events target market, I have trusted my gut that what PJ and I need to learn will also appeal to other entrepreneurs. There will always be a need for education for entrepreneurs and self-directed spirits who want to avoid, or supplement, traditional education.

When PJ and I needed to learn more about the online world so that we could develop our business, we found the best person we could to teach that subject to us and to our clients. When we wanted to understand investing more, we partnered with Robert Kiyosaki. The Rich Dad series of products and books are a huge success and as a side effect I've learned how to be an investor. I am also an avid reader and attend many business seminars all over the world. In the first three months of 2006 I'd have attended two events in NYC and one in Chicago plus online events.

WCM: During your first two years at Pow Wow Events you lost $60,000, what was the key to turning things around?

SD: It was a horrible time. I hated losing money. I thought of quitting. However, I hated the thought of going back to work for another person even more than I hated the situation I found myself in. We turned it around slowly. We just did whatever we could to bring money in the door. We focused and we persevered. It was more difficult than it sounds ... but it was an important turning point. There have been tough times since, but that one was a real wake up call.

WCM: What are the main ways you lead and motivate people?

SD: I'm a very demanding leader. If someone indicates to me that they'll do something I expect them to do it. I hold people accountable and myself even more so. I think what motivates people is that I work as hard as my staff if not harder at times and the businesses have a mission bigger than any one of us individually - the businesses are truly designed to benefit our customers and the world.

WCM: Why have you been successful where others have failed?

SD: I bet I've failed more than the average person. That's part of being an entrepreneur. Failure is not an inevitable part of doing business, it's a necessary part. The key is to learn your lesson and move on. I think my stubbornness and luck also help.

WCM: What do you believe is the most important aspect to business success?

SD: Being financially intelligent. Not every decision I've made has been financially sound but the key to success in business is understanding the finances, watching the dollars. When I first started in business I thought revenue was king. I celebrated like crazy the first time we turned over $1million... but revenue means nothing. Profitability is the only measure that matters in the end.

WCM: What are your plans for both businesses?

SD: When I was in my early 20s I decided I wanted to have many businesses. Pow Wow Events International and the Australian Businesswomen's Network are only two of over a dozen businesses that I am involved in. My plan is that they continue to make a contribution to the communities that they serve and to be profitable, sustainable and continue to innovate.