How Pip & Nut went from kitchen table to multi-million pound business - Pip Murray, Pip & Nut
I speak to Pip Murray, founder of Pip & Nut, about her journey from kitchen table to supermarket shelves.
Pip Murray is the founder of Pip & Nut, which she launched in 2015 and it's now stocked in over 3,000 stores around the UK. It's the fastest growing nut butter brand around, and it's clear to see why. Pip is full of stories and insights in journey building the company, from humble beginnings in her kitchen and at craft fairs to becoming a staple brand on the shelves of all major supermarkets.
What we covered in this episode:
What we covered in this episode:
- Why Pip started a nut butter business
- From kitchen table to full scale production
- The constant trial and error to find the perfect recipe
- The confidence that comes from being close to your customer
- The importance of the right manufacturing partner and selling them the dream
- The challenge of minimum production run when you get started
- Pip&Nut’s first customer and the importance of focussing on it
- What to do when you have no marketing budget
- Bootstrapping and crowdfunding to cover the first couple of years
- The pro’s and con’s of starting a business when you are young
- How easy it is to convince yourself our of an idea and the power of intelligent naivety
- How the biggest doubts come in as you scale and stakes get bigger
- The opportunity cost of doing too much
- Betting big on brand identity from the start
- Inspiration from the B&B studios portfolio and finding the right chemistry
- The 3 things every Private Equity company does when they acquire a brand
- Finding the right design and why Pip used her name in the brand identity
- The challenge and opportunity of a national retailer listing
- The trade off between focussed distribution and full scale distribution
- Why keeping it tight is so important
- What we can learn from the best soft drink launches
- The advantage of playing in the niche to begin with
- Cash flow challenges of a scale up
- Sources of funding for growth and finding the right people to invest
- The messy nature of startups and the power of empathy from an experienced investor
- What the hardest moment of Pip’s journey taught her
- Divesting yourself and learning to delegate to the team
- The nerve wracking moment of going on TV for the first time
- The importance of B-Corp status and making a sustainable brand
- How Pip would define success
- The energy you gain from a crisis
- Why the best way to learn is doing
- Pip’s advice for her 24 year old self
