Women In Business Q&A: Caroline Siler, Keep Left PR

May 22, 2009, 10:46 ammarieclaire

At just 23, Caroline Siler founded Melbourne-based boutique public relations agency Keep Left PR. Six years on, her high profile clients include Bakers Delight and Cadbury Schweppes - and Siler was named as one of Australian Anthill's 30under30 young entrepreneurs.

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What is more important, talent or drive?
Drive. Ultimately, I think drive is more important but a little bit of talent doesn't hurt! We've all heard the stories about those self-made individuals who didn't finish school and have no formal training; but they've made their mark in the world and been successful through a combination of good old-fashioned drive and dedication. You can't underestimate the importance of hard work. I started my business at 23 and for the first three years worked most Sundays to set up the systems and processes we needed as well as to learn the ropes of running a business. Looking back, drive has played a big factor in our success. Fortunately I have better work/life balance now!

'''On a scale of one to ten, how significant a role does luck play when it comes to success?
''' Three. I used to think there was such a thing as beginner's luck - and perhaps there is - but I've come to realise you ultimately create your own luck. In my view, it's largely determined by the people you surround yourself with, the choices you make and the way you apply yourself in different situations.

Which is more critical, the idea or the execution?
Execution. This is a tricky one as I really think the two go hand in hand, but if I had to choose I would say execution is more critical. A simple idea executed well can be very powerful. A big idea executed poorly is generally a flop! It's actually the whole premise behind the name 'Keep Left' - Creative 'left-field' thinking combined with a left-brain approach. You need the idea initially, but then you need a solid execution strategy in place to make it happen.

Is it better to be passionate or objective?
Objective. In business - particularly if you're managing staff - you really need to be able to remain objective and put yourself in other people's shoes. Passion is great if channelled in the right way, but if it's not controlled and used for good it can be a difficult and volatile thing in the workplace.

What is most and least important? Please rank your priorities.

  1. Confidence
    Drive
    Relationship skills
    Talent
    Organisational skills


What one trait has helped you most in business?
A focus on outcomes combined with a genuine desire and commitment to do a good job. We exist to generate positive outcomes for clients that make a difference to their business. It's a simple as that. Starting out young with only a few years of experience under my belt, I'm pretty sure that it was this commitment that helped doors open for me.

What is the one trait that has hindered you most in business?
My perfectionist streak. While you never want to sacrifice quality, being a perfectionist can drive you and those around you slightly crazy. As a business owner, you have to wear multiple hats so there's really no time for this and it's something I've been able to bring under control. A friend also introduced me to the notion of "the point of diminishing returns". When I find myself spending too long fiddling with a font size or reformatting a document for the third time, I remind myself of this and move on. There are no doubt better things to be spending your time on.

What is the hardest lesson you've learned and how did you learn it?
There are three and they all apply in the context of protecting your cash flow and ensuring your business runs smoothly and profitably. They are:

  1. The same rules apply when you're working with friends.
    Never start work without a signed contract.
    30-day terms mean exactly that! 30 days. No exceptions.


We undertook a major project in 2007 that resulted in a cash flow issue for us, because we didn't implement these rules. Now that we've sailed out the other end unscathed, I can look back and say it was a huge personal and professional growth experience for me. At the time, however, it was challenging, stressful and distracting. When it comes to cash flow, you need to be in control and have contingencies in place. It's a case of plan for the worst and hope for the best.

What is the one piece of advice you would offer other women in business?
Invest in a great accountant. The numbers are important and if you don't have a business background, you're going to need some help. The difference between a good accountant and great account is huge and they can make or save you a lot more money to be spent on important things. If possible, go with a recommendation from someone you know and trust instead of picking someone out of the Yellow Pages. Also look for someone who understands your industry dynamics.

What are the biggest mistakes you see women making in business?
Being timid and underselling ourselves. If you want to succeed in business, you need to put yourself out there, believe in what you do and value yourself accordingly. No one is going to open those doors for you. You need to make it happen.

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