You don't need to burnout to build a billion dollar business
Nick Jenkins is the former CEO and founder of Moonpig - a company now worth $1.6 billion dollars. Nick has truly been through every high and low when it comes to being an entrepreneur. But his philosophy is different to most. Nick's narrative doesn't follow the typical 'hustle-porn' culture. Instead he strongly believes that you CAN have it all and that there is no need to sacrifice any part of your life in order to achieve success.
He shares some of his MUST HAVE tips which EVERY entrepreneur needs to know, in order to become successful.
1. THE RISK WILL ALWAYS BE THERE
'I wasn't worried about failing. I knew I started with nothing and could end up with nothing.'
Being able to take risks is crucial when being an entrepreneur. Once you understand that you have to risk failure to succeed, then risk becomes something you have to do. If you are always risk-averse then you're simply avoiding the possibility of success.
2. SIMPLICITY IS BEST
'One of my great philosophies with business is just keep everything as simple as you can possibly make it until you have to make it more complicated.' Don't fall into the trap of having to complicate your business model. Find the simplest way to test the hypothesis, as cheaply as you can. 'We never really had much money to experiment, so we had to be lean with what we did.' Never underestimate the power of simplicity in business.
3. YOU CAN'T PROTECT YOUR IDEA
'With Moonpig I couldn't protect that idea. The only way you can protect it is being the best and being the biggest.' When you stop fearing your competition and focus on being the BEST and BIGGEST then you can truly succeed. Competition drives innovation and eliminates complacency.
4. YOU DON'T HAVE TO BURNOUT TO BUILD A BILLION DOLLAR BUSINESS
Nick is an example of how you can build a successful $1.6 billion business without sacrificing burnout. 'A lot of people think you have to work all the hours under the sun, and I never did.' Super interesting insight, which goes against the typical entrepreneur narrative, demonstrating that you can run a successful business and lead a balanced life.
LISTEN OR WATCH THE FULL EPISODE AVAILABLE NOW! 👉🏽 https://lnkd.in/ekRUdrEN
Accredited Coach. Helping founders confidently take the leap and achieve their true potential| Deep tailor-made coaching experience| Be empowered| I focus on the internal factors to create your foundation of success.
5moI love that you highlight that we don't have to hustle into burnout. It is a narrative worthwhile breaking :)
Produced over $200M in goods, shipping for 800+ brands with Guided Imports | Sharing my learnings around Entrepreneurship
5moAbsolutely, Sustainable growth and a healthy work-life balance are key to long-term success.
I teach you how to make $10k - $100k per month with high ticket coaching & 4S Content • without funnels, multiple offers or ads • $3.5M+ in client wins • Online Business & Marketing Coach
1yA fantastic summary, simple, yet so straight forward. Less is more.
Innovative CISO and CRO with 20+ years in digital transformation and IT strategy. Enthusiastic about harnessing technology to propel business expansion and innovate in response to evolving regulatory requirements
1yHi Steven, Let's catch-up when you have time and bounce ideas off each other.