Rupert Imhoff

Age:

Rupert Imhoff's premium SMS service 199Buddy works on a simple premise – text in a question, any question, and Imhof's team will try to answer it. The business, set up in 2006, now has revenue heading towards $2 million and Imhoff's team has grown to 95.

After learning about the perils of handling fast growth, money and relationships, his advice for would-be entrepreneurs is simple – have a go.

"I am a big advocate for people doing their own thing in life. I have actually pushed a couple of close friends into dropping high profile white collar jobs to pursue their dreams of starting their own businesses. My advice to them is plan for every contingency - good or bad."

He also says the first six months is crucial to the ongoing success of the business.

"The business needs to become a part of you during this time."