Welcome to the second sequence of Small Enterprise Snippets, the podcast from SmallBusiness.co.uk.
Anna Jordan talks to Jackie Quick, an entrepreneur, creator, speaker and candidate on The Apprentice in 2018. We focus on constructing a enterprise from house and tips on how to get began with sponsorship.
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You too can catch our episodes with investor and former Dragon, Piers Linney; supermodel turned entrepreneur, Caprice; and funding fund supervisor, Nicola Horlick.
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Learn the transcript for Jackies podcast interview
Hiya and welcome to Small Enterprise Snippets, the podcast from SmallBusiness.co.uk. Im your host, Anna Jordan.
On this episode now we have Jackie Quick, an entrepreneur, speaker, creator and former candidate on The Apprentice.
She got here to the UK from Canada in 2007 as a primary cease on her European backpacking tour however determined to stay round and work as a sponsorship director on the Information & Advertising and marketing Affiliation as an alternative. In 2010, Jackie started constructing her enterprise, Slingshot Sponsorship. She bought the agency in 2016 and is now working REBEL Pi, a Canadian ice wine firm.
Well be speaking about constructing a enterprise from house and tips on how to make sponsorship give you the results you want.
Anna: Hiya, Jackie.
Jackie: Hiya, Anna.
Anna: How are you doing?
Jackie: Im excellent, thanks.
Nice. Lets begin together with your arrival within the UK. What made you resolve to surrender your backpacking journey to work in London and construct a enterprise right here as an alternative?
Jackie: Actually after I arrived Im from a small city in Canada my expertise was minimal. Ive at all times been very bold and really decided. Plenty of the folks round me weren’t a lot. So after I got here to London it actually was to discover Europe as a result of clearly folks discuss it and Id by no means been to Paris.
Once I landed in London I used to be simply overwhelmed with the vitality of the town not essentially the vitality youd get from a metropolis like New York however the folks and the views that the folks had right here and the sorts of work that they have been doing. I met lots of people in finance and I didnt even know that was a job that you could possibly have and I used to be simply blown away.
It wasnt a direct factor. I used to be alleged to be right here for 2 weeks after which journey the remainder of Europe after which I used to be like: Oh, I like London, Ill keep a pair extra weeks, that went on to some extra months after which I used to be like: I dont need to depart after which over time I believed: I simply actually need to keep right here.
Once you launched Slingshot Sponsorship you solely had a laptop computer and £2,000. How did you assist your self financially within the early days of the enterprise? Im certain a whole lot of our listeners will need to know.
Jackie: Not effectively! Im fairly frugal, really typically. However principally, over these preliminary months I simply in the reduction of hardcore. I didnt actually depart the home for weeks on finish. I wasnt consuming beans on toast, however I used to be actually consuming a whole lot of prepared meals and stir fries and cereal. However for the primary, Id say, 12 months and a half, I wouldnt even go to Starbucks. I couldnt even afford takeout espresso, fairly frankly, as a result of each single pound I saved was going in direction of hiring my first worker and it was actually onerous. Slingshot received profitable early, however I didnt actually have private cash for at the least two or three years, Id say. And you already know, I solely actually simply purchased this home after I bought the enterprise. Up till then, all my associates owned homes and I couldnt afford to I used to be renting. However I at all times had it in me that Id make that sacrifice.
Were recording in Jackies home, by the way in which, only for a little bit of context. What about earnings?
Jackie: So, £2,000 might pay the lease for 4 months, principally, and I took a few commission-only issues. I had a whole lot of small shoppers. It took me 9 months to safe my first shopper. So, Id take small jobs thatd pay £500, £600, £1,000 and Id simply dwell off these sorts of issues and people sorts of initiatives.
I labored onerous to attempt to get folks to present me cash, like all small companies do, however I used to be actually aware about how a lot cash I spent. And our web site is a good instance. After we launched Slingshot I went out to a great deal of companies, all people was quoting one thing like £7,000, £6,000 and I didnt even have the cash. I ended up going to a digital company who I knew by way of the Information Advertising and marketing Affiliation and requested to swap, to be type of like a case examine for them. It was type of like a guinea pig factor and I ended up paying, like, nothing for it. I simply bartered for the whole lot.
Anna: Its attention-grabbing as a result of they are saying entrepreneurs, even after they begin incomes much more cash, nonetheless have the frugal mindset all these years later.
Jackie: Yeah, Ive at all times been like that. My husband jokes so much as a result of earlier than I bought Slingshot and after I bought Slingshot theres no distinction. Now we have a pleasant home and weve had some nice travelling experiences for certain. However I dont spend some huge cash we dont spend some huge cash. Nearly all the cash I created from Slingshot has been reinvested in different companies. I purchased our home which is a big accomplishment for me, however the whole lot else has gone into making extra money.
Anna: Often we ask about our visitors specialisms, which on this case is sponsorships.
Jackie: Its the whole lot, Anna. What do you imply, simply sponsorship?!
For a newbie, what’s sponsorship and the way can a small enterprise proprietor make alternatives work for them?
Jackie: In a nutshell, sponsorship is a collaboration between two companies. Most individuals take a look at sponsorship as a transaction of giving any individual logos or branding or badging in return for cash, however in a whole lot of instances the large sponsorships are carried out in contra. In a approach, the web site company I used to be simply speaking about I swapped to be a case examine for them they usually gave me a web site. In a way that was a sponsorship and I feel the way forward for all enterprise is sponsorship. Most individuals will probably be acquainted with stuff like FireFest and Beats by Dre. All of that’s sponsorship.
Any type of collaboration between two organisations is successfully sponsorship.
How do you deal with that first method, then? I think about that these relationships and creating these first impressions are crucial.
Jackie: Truly, one of many stuff you stated was the appropriate and the opposite factor you didnt.
Lots of people assume its who you already know. All people thinks: Properly, I might promote sponsorship if I simply knew the pinnacle of HSBC. I do know the pinnacle of HSBC and Ive by no means ever bought him something as a result of I the whole lot I ever had wasnt a great match for what they did.
Realizing folks isnt the purpose however what you additionally stated is having a primary impression. The place folks fall flat is that they dont actually perceive what theyre promoting, they dont package deal it very effectively they usually dont worth it. Itd be like going into a store and not using a price ticket, with garbage stuff within the window, you wouldnt go in. Similar take care of sponsorship. And I feel there must be a rise in professionalism for making these approaches and I feel that Slingshot was testomony to that as a result of successfully, thats all we did. I didnt create occasions, I didnt make one thing higher I took what I had and made it beneficial to manufacturers.
When a small enterprise is beginning out, what sort of info and occasions can they search out to assist them?
Jackie: I feel there are two issues. When youre a rights holder, say you might be an occasion or a web based publication or a podcast or a journey blogger or no matter, it truly is about the way you package deal your belongings after which understanding which manufacturers to method. Ive written a ebook referred to as Pinpoint which is the one ebook devoted to sponsorship gross sales.
If you’re a model on the lookout for a sponsorship, that in a approach is less complicated as a result of all people desires cash however from a model perspective, it truly is
Is the occasion youre interested by going to talk to your audience?
Do you could have a great purpose for being there?
Is it genuine?
Are you going to method it in an attention-grabbing approach?
How are you going to join with folks in a real and genuine approach?
And thats finest carried out by market analysis?
Jackie: I feel its depending on the model however yeah, market analysis, I feel, understanding your viewers.
Lets simply say youre after mums. Lets say youre a brand new health club for mums, or I dont know, Im not a mom, that is the worst factor to go! You’ll be able to really search for a platform on the market to achieve mums. Race for Life is a big one and its in native communities.
However lets say you need mums primarily based in Leeds. You will discover boards and teams inside Leeds and the occasions theyre approaching or the bodily venue area. There could be a digital group or a discussion board after which say: That is my product and Im interested by working with you as a sponsorship. Not promoting Id by no means advocate promoting. And most of the people can have a sponsorship package deal.
What sort of issues must you be on the lookout for in that package deal, then?
Jackie: I might at all times search for alternatives that transcend a brand I dont assume badging is effective anymore. Model recall was beneficial within the 80s, however were hit with 60,000 messages a day now. Your mind simply will get tuned off.
So, Id be on the lookout for what sort of belongings interact together with your viewers. Talking alternatives can be one thing as a result of they provide you a chance to speak. Visitor weblog spots, posts, can we run a joint promotion, a marketing campaign? Can we distribute free product? These are the sorts of issues I feel actually push the needle on sponsorship.
As talked about within the intro, as of late youre working Insurgent Pi, an ice wine firm, which is sort of a distinct segment. Its additionally fairly a dangerous enterprise you have been explaining that its very depending on temperature, climate situations and other people having the ability to choose grapes rapidly in the midst of the night time at brief discover. How do you handle this danger, notably by way of money movement?
Jackie: Id most likely say that Im not managing it effectively. I went from promoting concepts to promoting a bodily product which I needed to do to check myself. It is rather onerous from a manufacturing standpoint as a result of the one method to make ice wine is selecting grapes at beneath -8C. If it doesnt get beneath -8C, you dont have a classic, you dont have a product. So, it’s important to be affected person, it’s important to work with actually sensible folks within the winery who know tips on how to create ice wine every year and it’s important to be prepared to journey it out.
In our first 12 months, weve carried out rather well, weve bought about 60computer of our bottles. Its now listed in locations like Metropolis Social, 67 Pall Mall, Pied a Terre, Dinner by Heston all these sorts of high locations. Now for me its asking: Do now we have sufficient manufacturing for subsequent 12 months? Were holding again inventory, in order that if we didnt get a classic subsequent 12 months, we might then nonetheless distribute. I wouldnt need you to have the ability to go right into a restaurant, be capable to order it after which subsequent month you’ll be able tot for 12 months.
Im managing inventory however from a monetary perspective, Im taking successful, principally. Im not speaking about being worthwhile on this till 12 months three, actually. It is going to be if all issues go to plan its not winter but if all issues go to plan, it ought to be tremendous for subsequent 12 months. However within the occasion that were not, Im wanting long-term at this.
I created this product as a result of I used to be on TV and I didnt need to waste my 15 minutes of fame. I needed to have one thing that folks might purchase. That was a silly technique as a result of nearly all of the individuals who watch The Apprentice are 14-year-old ladies. They willt even legally purchase my wine! I launched the enterprise with an expectation that was incorrect and Ive needed to repair it. Ive modified the technique and the whole lots tremendous. Its nice Im super-excited to be working with a product which you could contact, you’ll be able to style Im enthusiastic about it.
It does look like you could have a really clear goal market, particularly the premium which I feel individuals are shifting away from extra disposable, quick kind issues to purchasing much less however higher high quality. Its a greater route to go in.
Jackie: For certain individuals are ingesting much less, individuals are shopping for much less, however after they do it, they need to take pleasure in it. Thats actually what Ive discovered personally, and amongst my group of associates. And the best factor about ice wine within the UK market is that nearly no ones had it. When do you get to present any individual a primary? Its so extraordinary. Im so enthusiastic about that.
Yeah, for certain. You talked about The Apprentice and it supplying you with a type of platform. However you have been already a seasoned and profitable entrepreneur if you went on The Apprentice, having bought Slingshot. Alan Sugar even fired for you for being too skilled to be the enterprise accomplice that he needed. What did you get out of the programme ultimately?
Jackie: Ill return to the primary half. The one purpose I did The Apprentice was as a result of I bought my enterprise. I dont know if I mightve had the braveness to take action earlier than, however Id constructed sufficient of a reputation for myself so if I got here throughout wanting terrible, at the least I had a fallback on my earlier success. Properly, I imply you dont know. You don’t have any thought what youre going into, so I used to be fortunate.
Anna: A lot of it’s within the edit as effectively, isnt it? You by no means know whats going to occur!
Jackie: Its unrealistic to assume that to start with, its an leisure programme and I’m not silly to not pay attention to that. It could even be naïve to assume that you’re 100computer nice 100computer of the time. There are very lengthy days, youre working with folks you dont know, you haven’t any thought what to anticipate, you’ll be able tot prep in any respect.
All of these errors that I made that have been completely hilarious, I completely made. Thats not an edit, thats 100computer what I did as a result of thats what occurs thats what occurs in life. You simply dont have a digicam following you round 24/7 ready so that you can mess up.
However by way of what I took away from it, so after I received requested, I used to be like: I dont even know if I can do that, however then I did. My husband was very type and stated if I used to be terrible, we’d fly to India and blow off steam for a 12 months. Happily, we didnt have to maneuver.
Now, in hindsight, in the event you requested if I might do it once more I might do it in a heartbeat. It was so completely different than what I anticipated. What I received out of it was expertise doing completely various things which I like. If I might spend a 12 months doing that each single day, I might.
Anna: Oh yeah, the ranges a lot enjoyable.
Jackie: I received to make doughnuts, I bought stuff at a bodybuilding factor, I created an artwork gallery. You couldnt do these issues in a lifetime. I used to be actually lucky to try this. I nonetheless speak to Claude Littner (certainly one of Lord Sugars advisors) so much and hes been nice and met some nice folks on it as effectively.
What was your favorite a part of the method?
Jackie: I feel my favorite half on the time it was fairly traumatic I can say that I didnt love being in the home. I beloved doing the duties. My favorite activity was probably the artwork activity. Wait no, really, thats a lie the shoe activity! I misplaced, however my favorite activity although.
What made it your favorite?
Jackie: I received to design a shoe! I like sneakers and I received to be the boss, which I wish to be as a result of its simpler. It was a whole lot of enjoyable. It additionally performed to my wheelhouse like promoting stuff to companies and B2B gross sales is what I do.
You stated you bought alongside effectively with Claude. There was one contestant you didnt have a very good relationship with. What recommendation do you could have for working with a persona that clashes with your personal?
Jackie: I feel The Apprentice isnt a real-life scenario. My suggestion to myself was having extra persistence which I didn’t have. In a real-life scenario, actually, and this isn’t what folks would say keep away from the particular person, fairly actually.
You receivedt at all times get on with all people, and other people receivedt at all times get together with you. And thats OK, theres nothing fallacious with that. With the ability to work with any individual that you just dont like is an asset. I wouldnt attempt to beat a lifeless horse. You shouldnt actually be there to make associates with folks, youre there to do your job. You must also attempt to not make their job tougher. My trustworthy recommendation can be to have minimal interplay with the particular person you dont like.
Anna: Simply attempting to remain out of one anothers area, I assume.
Jackie: Which in The Apprentice was unattainable as a result of we have been residing collectively!
Anna: Smashing. Properly, thanks a lot for approaching the podcast, Jackie.
Jackie: Thanks for having me, Anna.
Anna: You will discover out extra about Jackie at jackiefast.com. You too can go to smallbusiness.co.uk for extra steering on bootstrapping your enterprise and managing your money movement. Keep in mind to love us on Fb @SmallBusinessExperts and comply with us on Twitter @smallbusinessuk, all decrease case. Till subsequent time, thanks for listening.