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Breakfast in 2021: What we've learned

A quick round up of top tips and insights we've gained intimate conversations between our partners and community of founders

 

Our recent programme of in-person breakfasts has been a great reminder of how impactful these open forums really are. Having a safe and collaborative space where we as founders can have the right conversations with the right people is so important, especially after so long not being able to.


Here, we share some personal highlights from sessions hosted with TikTok, Attest and Oracle NetSuite - just some of the brilliant partners we work with that are actively doing their part to address and help founders overcome the often overwhelming number of challenges that come with running and scaling an SME.

 

Breakfast with TikTok


Own your journey and be proud. Tell people how hard it’s been.

  • The TikTok audience wants to see authenticity - highly polished content doesn’t always resonate. Come from a place of honesty and education.

  • Tell the story of your business and you as a founder. People respond well to the deliverer, humanise your brand and struggles. Own your journey and be proud. Tell people how hard it’s been.

  • The expectation with content is to plan but trends are very fluid so your marketing strategy will need to account for an incorporate that

  • Responding to comments and building off of them allows your content to stretch further

  • Some things resonate and are authentic within a certain time, be conscious of this. A lot of people are now being stung for things they did and said in the past. Brands can say sorry and move forward, it’s not as easy for founders and individuals

  • The onus can’t always be on the founder so hire someone in-house. An agency will charge for every edit and asset, get your own videographers who are close to and understand your brand



Breakfast with Attest


You might need to fire your worst consumers. Beat them to it. Or, controversially, stop them from even subscribing in the first place.

  • Something as easy as simplifying the card updating process can better your retention – in some case this contributes to 50% of churn.

  • Consumers don’t care about celebrities (especially not Jake or Logan Paul) – it’s all about value for them and the more immediate the better.

  • Don’t reward your customers only after they’ve earned it e.g. 50% off your 7th box. It’s a big turn off.


Pitch Nights with Oracle NetSuite


You’ve got to say: “Everything is awesome at all times. You’re always winning”

  • Raising money is the easy part of the entrepreneurial death march - it’s the first step

  • Investors are always looking. It’s the connections that are hard

  • Get to know the funds you’re pitching to

  • Don’t put in exit likelihood = death, VCs don’t want to hear I’m not committed because I’m going to sell to Microsoft