The chaps at Spin4 Ltd start a new series of blogs for us today – passing on their experiences in the past year where they went from nervous Business graduates to small business owners. Here’s Jon Proud to tell us more:
Although, instead of filling in applications, having interviews and going to testing days for huge multinational companies, I have decided to take it upon myself to start my own business, and who better to do it with than two of my best friends from university? Since myself, Matt and Mikey graduated in June this year, we have dedicated our full attention to our new company: Spin4 Ltd.
The business is an online platform that allows users to browse through products one-at-a-time that are specific to them individually. Starting a successful business is a notoriously difficult task; I’ve lost track of the number of times people have mentioned the dreaded failure statistic of only one in five businesses failing to me in conversation. Although I’m only new to the game, I believe those statistics have a lot to do with not knowing what challenges you’ll face along the way. Only seven months have passed since we started and its near impossible to list the challenges and hurdles we’ve already faced, both big and small. When we first came up with the idea for the business, we managed to go from an online roulette wheel that gives away products, to a website that pin-points your appropriate products, and that was just in a number of hours! It’s safe to say that our business plan has transformed incomprehensibly from those first five hours into something really exciting that is getting a lot of interest.
The image and branding of the company is something that’s extremely important to us. We have been working alongside designers to ensure that it’s exactly how we want it, although that picture in all of our heads has changed continuously from the start. We’ve now got a really slick, interesting and creative image that transcends throughout the company that is likely to again continue to change and develop. But knowing the direction is very difficult to do.
The people you work with is really important and luckily for us we feel we’ve got a great balance between work and play. Having said that, knowing how well you’ll gel as a team is really tricky. As we’ve all given up full-time jobs and sacrificed so much to work on Spin4, opinions can become very strong. Having to learn how each other behave and work has been a really important part in the early steps of this business and is something that none of us would have been able to predict without trying it.
So as you can see, it’s been a pretty rocky road so far, having to duck and dive to see where we end out and it seems that we’re heading down a very unpredictable road.