Meet the co-founders of Purition
Run by a husband and wife duo Edward and Louise Taylor, who co-founded Purition seven years ago to manufacture a range of wholefood protein shakes.
Keeping an eye on the numbers in any business is important. How do you ensure that you’re always up to date?
It’s so easy to day with mobile banking, cloud based SAAS.
How do you ensure that you’re always up to date?
Employ people who are younger than you, treat them like your equal and listen!
What’s the biggest lesson you’ve learnt so far as an entrepreneur?
If someone is selling you something and all they want to do is get your signature on a contract, run a mile. Nothing good has ever come of me signing a supply contract. Secondly, resist paying consultants for anything. If they knew better they’d have their own business. They are just in the business of selling themselves, as soon as you sign a contract they will be onto the next target.
With all the success stories around entrepreneurship and how innovative people have to be able to take the leap. How do you think you’ve innovated your sector and why?
You can innovate or you can choose to be better. Both approaches work. Innovation is harder.
What are your thoughts on failure?
I generally don’t think about failure as this would stop me starting anything.
Do you have a morning routine or ritual to get your day started on the right foot?
No, I've tried all the mumbo-jumbo books but I’m very much of the opinion that you should just put one foot in front of the other, get out the door, and take each day as it comes. I used to work with a guy who brushed his teeth in the shower to save time, that worked for him but I thought he was mad.
If you could be in a room with 4 entrepreneurs, who would they be and why? Out of choice I would not be in that room because it would either be incredibly dull (if they are anything like me) or a bunch of egotistical dullards which would be even worse.
What plans do you have for Purition over the next two years?
We’d like to expand into North America and manufacture over there too but that’s going to be expensive so we’re saving up as we speak. But ultimately it’s about finding the right person to help us make a success of it.
How important is company culture and what is your top tip to get it right?
It’s important not to fake it for ‘marketing purposes’ like so many companies do.
What’s the single most important decision that you made that contributed to your business?
Early on we decided to make the product ourselves instead of outsourcing, this gives us an incredible advantage now. We can be agile in terms of market demands and new product development but also keep stocks low manufacturing just in time.
How did you fund the launch of your business and what creative strategies did you use to execute a minimal cash flow?
We funded our business with cash that we had saved and we kept costs low by doing everything ourselves. We made sure we had a profitable business model and have always re-invested everything back into the business because growing the business with your own money is much more profitable in the long run, but I appreciate that is not always possible. Crowd funding seems to be one way of obtaining cash to fund your business without giving too much away but we decided early on that was not for us.
How did you conquer those moments of doubt that so often affect entrepreneurs or stop many with great ideas – what pushes you through?
If there is no doubt in your mind there is something wrong because nothing ever goes to plan.
What’s the most important question entrepreneurs should be asking themselves?
Does my product or service offer real benefit or value to the buyer and how can we do more with less.
How do you believe the evolution of tech will affect your industry over the next 10 years?
Tech helps us do more with less people giving greater responsibility to a smaller number of hands means all the jobs we create are high value jobs, not low paid jobs.
Were you nervous at the outset?
No, only as the numbers get bigger do the nerves kick-in.
Any moments where you thought you’ve bitten off more than you can chew?
Yes almost every day.
What do you think gives a brand longevity?
Credibility or Cash, take your pick but you’ll need either one in buckets to launch and then lots and lots of cash to support your brand.