40under40 Winner - Derek Martin Peterson

Bunbury-based audio technician and 40under40 winner Derek Peterson says the best business tip he can give is to bite off more than you can chew … then chew like mad.

The managing director of Totally Sound, a production business specialising in the hire of sound, lighting, staging and audiovisual equipment, certainly did this after he took a redundancy package when his employer, GWN television, was sold in 1997.

Starting his business from scratch, revenue grew six-fold in five years.

Totally Sound was even awarded the WA Telstra small business award in the micro business category (less than five employees) and was a finalist in the national competition last year.

The majority of Totally Sound’s work covers the South West, however the company recently coordinated its first international conference in New Zealand.

Mr Peterson said one of the most valuable lessons he learned would have been to have a business plan in place.

By not taking on more staff as the business grew Mr Peterson found he had little time away from work, to the point of collapse.

But things changed after the implementation of a business plan, which allowed Mr Peterson to employ people he could trust and take time for himself and his family.

In the past year he has donated a significant amount of equipment and services to groups such as the Cerebral Palsy Association, Riding for the Disabled, Lions and the Rotary Club.