Aussie entrepreneur Tom McPherson is the brains behind the overwhelmingly successful auto membership platform Motor Culture Australia, along with several other exciting business ventures in the making. He makes a point of sharing his experiences with budding entrepreneurs when he can, and hopes to be an inspiration.
“I’m on a mission to inspire others by not only creating successful businesses, but also by being extremely diverse and adaptable,” he says. “I want to show that there are plenty of ways to create wealth, but more importantly I want to inspire people to chase happiness first and money later, because you’ll only have success when you have both of these.”
The Story Behind the Success
McPherson started his working life in the hospitality industry, but always yearned to start his own business. When he finally took the plunge into his first business at the age of 19, it didn’t make a positive return on his investment, so he closed it down. Over the following year, he tried again with four more businesses, all of which were doomed to failure.
In the meantime, McPherson started to see returns on his cryptocurrency investments. And it was around that time that he suddenly realized he could make a real difference in an industry he was passionate about. Many car enthusiasts across Australia were complaining about how exclusive their community had become. Negativity and bullying were rampant, and ‘hoons’ were creating a bad reputation within the industry because of their unsafe behavior.
A Community that Inspires
McPherson suddenly understood that there was a gap that needed to be filled. With the founding of Motor Culture Australia, he created a safe, welcoming and inclusive community for car lovers which has since blossomed to a membership of over 100,000 in a short space of time. The platform is so successful, in fact, that McPherson is constantly expanding its services, and has plans to take it international.
Advice for Budding Entrepreneurs
“I failed several times over before I experienced any success,” says McPherson. “So don’t ever give up on your dreams. Learn from your mistakes and move on. Being innovative means having to adapt, so don’t feel you always have to stick to your original plan. Things change, and that’s okay as long as you change too.”
McPherson adds that he strongly recommends would-be entrepreneurs to actively search for new opportunities and ways to invest money.
“Be prepared to take risks. Believe me, if you never change what you’re doing, you’ll never change what you’re getting out of life.”
Finally, McPherson stresses the importance of executing your plan.
“The only thing more important than having a good business plan is executing your plan. In my own experience, I’ve found that there is never a ‘perfect’ time to start. There is no secret here – the key is to just do it and learn as you go. I learn something new every day and don’t consider myself by any means an expert in business or investing, but I do execute my ideas and chase success rather than wait for it to come to me.”
