How I didn't create a £3 billion pound company
It was around 1997. I was 20 — and the internet was finding its way into most UK homes, thanks to Freeserve, AOL, big beige PC towers and those robotic dial up modems. It even WAPPED its way onto mobile phones (I’d kill to use a Nokia 7110i again!)
Sending an E-card was quick, convenient, fun — a quick(ish) dial up and a bit of email tinkerage and you could send your gran a ‘card’ straight to her inbox.
Convenient yes — but I thought it was a bit impersonal and came up with this crazy backwards-step idea of selling good old physical hand written cards online. Pick a design, add a photo, write your ‘Dear Nan’ verse, pay a couple of quid — and a nice card would arrive at your grans house in the post 2 days later.
Afterall, Amazon was selling old fashioned books like hot cakes.
Without the time, confidence, money, drive — this ’crazy’ idea fell out of focus and life moved on.
A couple of years on, I was partying like it was 1999 (it was).
Take away delivery was becoming more popular — crikey we ate enough of them — often at stupid o’clock in the morning after rolling in from a club. The problem was often that one of us wanted a curry — another a pizza — and some of the more twisted friends even craved a Big Mac. Big Mac after a session? Nah. In truth, the only thing any of us needed was a glass of water and to get to bed.
I think it was one of these drunken episodes when I thought ‘wouldn’t it be convenient if you could ring one number and have 3 different takeaways delivered in one transaction?’
Now this idea festered for a bit longer — to the point that I drafted up menus, graphics, flyers — and even bought the genius domain name ‘Telfood.co.uk’. (I lived in a town called Telford at the time).
What would it have taken to get this idea off the ground? Well at the very least, pitching it to the right people, considering funding routes, etc. Alas, this idea was benched along side the e-cards idea.
A year later, Moonpig was founded by Nick Jenkins (coincidentally in Newport, Shropshire — less than 10 miles from where I lived).
Moonpig just took £320m in revenue during 2023.
Just Eat was founded in 2001 and currently has a worldwide market capitalisation of £3.5 billion.
To me, the chances of me creating a business on the same scale as either of the above was slim. But that’s the issue — the chances were slim TO ME. Nick Jenkins did it — he had the idea — but took sufficient action and now Moonpig is a household name.
The moral of the story: never be too quick to discount what initially seems a bonkers idea. Give it a chance, float it around, pedal it a bit — you may just make that one connection that waters the seed and grows it into something special.
BUT — take note…
Even well reputed experts get it wrong now and then.
Sometime around 2007 I pitched an idea to Peter Jones though his entrepreneurial investment program. The idea was for an online system whereby trades people can tender for projects placed online by members of the public.
The tradesperson would pay a fee to access quote invitations online. In return members of the public would get two or three proposals from reputable, pre-qualified tradespeople who relied upon user reviews to build their credentials. A win-win situation for both the tradesperson and the consumer.
My idea was sent back to me and labelled ‘luke warm’ — with some feeback that the idea wasn’t good enough to warrant investment. Looking at this sector now, it is thriving with various companies working on the same principle — Checkatrade, Rated People, Bark.com.
I’d say my idea was slightly warmer than lukewarm Peter — but it’s too late — “I’m out.” 😃
So there is importance in pedalling your idea — don’t assume that one knock back is final, don’t throw the towel in at the first setback. Speak to more people, push it further, widen your enquiries and have faith in your ideas.
So many successful businesses start in exactly the same way but how (and whether) we choose to act on these ideas is the ultimate key to success.
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