Craft Gin Club’s 7 tips for starting a business

By on October 18th, 2016 in Editorial

We asked co-founders Jon Hulme and John Burke for their top tips for starting a business, keeping their answers in our back pocket for a nice little October surprise.

And what better way to illustrate the Jo(h)ns’ sage advice than with a selection of GIFs whose relevance is at best questionable.

1. Find the right business partners.

giphy-7Jon & John:
You need to make sure you have good rapport, good communication and honesty between you and your business partner(s). You should be heading in the same direction but able to compromise on anything that might be a sticking point. When time allows, have a few G&Ts together.

Relevance of GIF:
It seems that what the Jo(h)ns are saying is that business partners need to be as symbiotic as possible in order to achieve smooth entry into the clear blue waters of success.

2. Choose a growing market.
John & Jon:
Or, it could be a market you’re passionate about. In an ideal world, though, your business would be situated within a growing market that you’re also passionate about.

Relevance of GIF:
It features growth. Why don’t you find a GIF to illustrate the concept of a ‘growing market’ if you think you can do better.

3. The only way to start is to start.
Jon & John:
Find a way of getting onto the field, or just doing something in the market you want to be in – even if that something isn’t the thing you eventually want to do. Just get involved. The only way to learn is to get involved.

Relevance of GIF:
You won’t get anywhere in business if you never get going, choosing instead to perform somersaults of terror every time someone fires a starting pistol.

4. Understand what you can’t do, as well as what you can.
John & Jon:
Knowing your limitations can help formulate your business; you build an Innovation Cage around yourself and say ‘what can’t we do?’, and that helps you come up with an idea you can execute against.

Relevance of GIF:
In this hamster’s case, the Innovation Cage is its actual cage. Were it in that cage, the hamster would not have gotten the idea that it was like Tooms from The X Files and tried to force itself through a spent roll of wrapping paper.

5. Find the right audience.
Jon & John:
Understand your target market and how you will acquire new customers.

Relevance of GIF:
It is important not to misjudge your potential customers. Otherwise you risk launching yourselves at the wrong audience, and could end up bruised and battered on the floor with discarded cigarette butts sticking to the stale beer on your face.

6. Test and learn.
John & Jon:
Fail quickly and be lean in your development strategy. You don’t have to build a whole business to figure out whether it’s right or wrong. You can test the assumptions, develop prototypes and do very small low-cost changes to test the key assumptions.

Relevance of GIF:
Mistakes will be made. But if the goals and assumptions of your business are simple enough (e.g. a robot will prepare a woman’s breakfast), it should be fairly easy to figure out how you’re going wrong, and relatively cheap to correct.

7. Make it you.
Jon & John:
The way we’ve been able to move forward with Craft Gin Club is because it’s ours. We’ve thrown ourselves into it 100%. It’s what we do day in day out and it’s what we think about all the time. There’s a reason we don’t have a day job or go and work for somebody else from 9 to 5.  It’s because this is us.

Relevance of GIF:

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James is freemarket’s Chief Commercial Officer. He has a history of finding new ways to solve age-old financial challenges and was responsible for launching some of the first online money transfer and prepaid card initiatives in Europe.

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