colin Pinks - Bounce Snack Foods UK
Who are you? What do you do? Where do you do it?
Colin Pinks I have been working in small, entrepreneurial firms for 14 years. I have worked in technology, software, hardware, professional services and food sectors. Clients have included BMW, Microsoft, HP/Compaq, Renault, Landrover. First Degree in Computer Science from Leeds University (BSc (Hons) 1992) Business Degree from Cranfield University (MBA 2003) Most recently I started up Bounce Snack Foods (UK). A company supplying healthy snack foods – now available in many health food shops, juice bars and other multiples (Fresh & Wild, Planet Organic) I have been involved with start-ups and incubators for many years including an intranet product, one of the first Car Navigation Systems and Human Simulation software. Essentially firms in their early stages, trying to burst into the market and grow. I have a wide variety of experience which is of value at the start-up stage, where a breadth of knowledge and variety of skills is required. Bounce started in the UK. We are now expanding into Europe. I have worked all over the UK, with some projects in Europe.
Why did you start-up a business?
To feel like you are creating something. To work with people I believed in. To be in more control of my own destiny. To get the fruits of my labour. Not be a small cog in a big machine.
How (and when) did you start-up a business?
Bounce was started in Feb 05. We launched at an exhibition, found some customers and built from there. The product already existed, but I did the majority of work to bring it to market in the UK.
What have been the biggest challenges in running your own business? How have these been overcome?
Working by yourself – To stay motivated when you are isolated or not getting results. To keep personally solvent. Cashflow! Money – split time between ‘normal’ work and entrepreneurship if required. Ideally, build a ‘war-chest’ before beginning. Motivation – have people to speak with, to stay inspired and pick you up when things are not going well/fast enough.
What have been your greatest achievements in running your business?
Within a year having a business turning over £400k per year. Building something from nothing, to a ‘real’ business in a relatively short period of time. Getting the ‘first sale’. Inspiring others to do similar things. Hiring your first employee.
What would be your advice to any young aspiring entrepreneurs?
Your role should be to have a vision of where you want to be and keep the energy and passion. Work on your business, rather than in your business. Know that you don’t know it all – be humble and listen to other. Not only listen to many people, but seek out advice from a diverse set of people – Old and Young, same sector and completely different. Seek out people to inspire you. Be as open as possible, as this will allow you to develop relationships. Ideas rarely stay unique for long. It is about keeping focussed on executing on an idea, which is a key to success. Focus your energy on a small target at a time, so the energy is not dissipated, especially when there are only a few people involved. Get an elevator pitch ASAP, so everyone has a clear idea of what your value is and what you are about.
In addition Good books…
Beermat Entrepreneur E-myth