For today’s conversation, we had the pleasure of sitting down with Jack Perkins, the Director of BaseUp Technologies, to explore the ups and downs of expanding his business into the U.S. market.
Jack shared candid insights on the challenges he faced, from navigating new markets to managing his own mental health, and how these experiences have shaped both his personal life and the culture at BaseUp.
Jack, expanding BaseUp to the US sounds like it was an incredible journey with its ups and downs. Can you share what that experience taught you about failure and resilience?
We were fortunate to build a successful business in Australia relatively quickly. When it came time to expand to the US, we expected to replicate that success within a similar timeframe. However, the reality was far different.
The first 12 months were extremely challenging as we attempted to apply the same strategies that had worked in Australia, only to find they didn’t translate well to the US market. Despite the setbacks, we remained persistent, and two years later, the US business is thriving and finally reaching the success we initially envisioned.
This experience taught me two key lessons: First, as an entrepreneur, you will make mistakes, and that’s okay—what matters is how you address them. Second, patience is essential; you must be prepared to navigate the lows because things won’t always unfold as planned.
Managing different time zones and the pressures of running a business can be overwhelming. How did this impact your personal life and what steps did you take to manage your mental health and well-being?
Running a business can be incredibly demanding, with immense stress, heavy responsibilities, and the ultimate accountability resting on your shoulders. Adding international expansion, frequent travel, and 5 a.m. calls, it quickly takes a toll. Until recently, I didn’t fully grasp the impact BaseUp was having on my mental and physical health, as well as my relationships.
My identity became so intertwined with the business that I was riding every high and low, allowing it to control my life. About a year ago, I made a conscious decision to prioritise my well-being. With our growing team and efforts to gain traction in the US, I knew I needed to establish firm boundaries at work and non-negotiable practices outside of it. These included weekly therapy, regular exercise, limiting US calls to two days a week, prioritising relationships, and moderating alcohol consumption.
As a result, I’ve achieved a much better work-life balance, which has led to even better outcomes for the business.
You’ve been very open about your mental health journey, including being diagnosed with ADHD and Bipolar II. How has sharing your story with your team influenced the company culture?
This is a difficult topic for me to discuss, partly due to the stigma and misinformation surrounding Bipolar disorder. I’d be lying if I said I wasn’t concerned about how others might perceive me. However, I believe in the power of vulnerability, and sharing my diagnosis may help someone else struggling with their mental health.
About a year ago, I noticed unusual mood changes and, after consulting a psychiatrist, was diagnosed with ADHD and Bipolar 2—a milder form that primarily affects mood without causing psychosis or manic episodes. With medication and therapy, my condition has been well-managed and doesn’t impact my daily life.
I felt it was important to share this with the team to foster an environment where discussing mental health challenges is encouraged, as mental health issues affect everyone. Since opening up about my diagnosis, several people have reached out to share their own struggles or seek help. We’re all fighting our own battles, so let’s support each other.
You decided to focus on building a sustainable and profitable business rather than just raising large amounts of capital. Why do you think this approach is important for long-term success?
I appreciate this question because I believe too much focus is placed on raising capital rather than building a sustainable business. While we’ve raised around $4.5m, we’ve used these funds conservatively, prioritising profit and sustainable growth over rapid expansion. Most investment rounds take 3-9 months to close, but unless it’s critical for growth or survival, I believe that time is better spent on generating revenue and strengthening the business.
You’re known for being highly competitive and fostering a competitive culture at BaseUp. How do you balance this drive with maintaining a supportive and healthy work environment for your team?
I’m fiercely competitive and hate losing more than I enjoy winning. To excel and stay on top in any industry, you need unwavering focus and a strong sense of urgency. Like a professional sports team, a business thrives or fails based on results. At BaseUp, we’ve cultivated a high-performing yet supportive culture, always seeking the best talent. In return, we invest in our people and offer opportunities that are hard to find elsewhere.
Looking back on your journey with BaseUp and your personal challenges, what advice would you give to aspiring entrepreneurs who are just starting out?
Timing is crucial in business; success often hinges on entering the market at the right moment. Along your journey, you’ll face criticism, often from those who haven’t been in your shoes—it’s important not to let that distract you. As Wayne Bennett famously said, “If you listen to the spectators, you’ll end up sitting with them.” Lastly, be prepared for things to take longer and cost more than you anticipate; patience is key, as there’s no such thing as overnight success.
