Starting a new business is never an easy task. The journey has its ups and downs, and oftentimes you're faced with difficult situations that require critical thinking and tough decisions. The question all new business owners are asking is how do I become successful?

Being successful often means learning from those who have already reached their goals. Hearing the advice and understanding the decisions made by fellow entrepreneurs provides a valuable insight into the steep learning curve to success.

With this in mind, we’ve listed 3 successful Australian entrepreneurs, and the key lessons they have learnt and would like to share with people looking to start up their own business.

1.     Alec Lynch - DesignCrowd

Lesson learned: Start today.

In 2007, the logo for the London Olympics was released at a cost of over £400,000, and took one year to develop. The logo received a terrible response from the media and public on a global scale. Entrepreneur Alec Lynch recognised immediately the need for a global platform for creative individuals to work transparently on design. “I could see a number of challenges and opportunities within the traditional design industry,” says Lynch.

Immediately, Lynch went to work on DesignCrowd - a global platform for businesses and designers to seek and create design work across various categories. Today, DesignCrowd is worth over $20million.

His advice for entrepreneurs? “Ask yourself this question: how would you feel if tomorrow, you read an article about someone else who launched your business idea and raised $1 million in funding? If the answer is “terrible,” then you need to start today.”

 

2.     Lorna Jane Clarkson - Lorna Jane

Lesson learned: Remain true to your personal beliefs.

As one of the largest and most successful female entrepreneurs in Australia, Lorna Jane Clarkson started from humble beginnings, working out of her garage creating t-shirts and active wear for women. In a highly competitive industry, Lorna Jane Clarkson established a reputation for creativity, honesty and integrity, creating a successful brand based around her personal philosophy of “Move. Nourish. Believe”.

Attributing her success to staying true to herself and not sacrificing her authenticity to get ahead, she reminds us, “If you are yourself and you are authentic and you listen to your dreams, you are going to have the life you want. I always remind myself, to be myself.”

With this lesson in mind, women have continued to be inspired and motivated by Lorna Jane, and the brand has now reached international markets, seeing a 20-30% increase in profits from 2013.

 

3.     Hamish Petrie - Ingogo

Lesson learned: Persistency is key.

After constant frustration with the inconsistent and unreliable taxi services in Sydney, Hamish Petrie launched Ingogo, a multi-million dollar company dealing directly with drivers, cutting out taxi companies and operators and focusing on a one-on-one service between driver and customer.

Petrie emphasises the need for persistency in a market with strong competitors, such as Uber. Focusing his efforts towards his passion for turning ideas into reality, Petrie advises us to “Make sure the market is big enough and the rest you will work out if you are stubborn, persistent and surround yourself with the right people.” “Have passion for what you are doing and never, ever, ever give up”.

While having a strong idea and a willingness to be successful is important for entrepreneurs, there are other factors which come into play when starting up your own business and enduring the good and the bad that comes with it. Thanks to these entrepreneurs, the secret is out:

Start today. Stay true to your beliefs. Be persistent.