How Pip & Nut went from kitchen table to multi-million pound business - Pip Murray, Pip & Nut

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:Why Pip started a nut butter businessFrom kitchen table to full scale productionThe constant trial and error to find the perfect recipeThe confidence that comes from being close to your customerThe importance of the right manufacturing partner and selling them the dreamThe challenge of minimum production run when you get startedPip&Nut’s first customer and the importance of focussing on itWhat to do when you have no marketing budgetBootstrapping and crowdfunding to cover the first couple of yearsThe pro’s and con’s of starting a business when you are youngHow easy it is to convince yourself our of an idea and the power of intelligent naivetyHow the biggest doubts come in as you scale and stakes get biggerThe opportunity cost of doing too muchBetting big on brand identity from the startInspiration from the B&B studios portfolio and finding the right chemistryThe 3 things every Private Equity company does when they acquire a brandFinding the right design and why Pip used her name in the brand identityThe challenge and opportunity of a national retailer listingThe trade off between focussed distribution and full scale distributionWhy keeping it tight is so importantWhat we can learn from the best soft drink launchesThe advantage of playing in the niche to begin withCash flow challenges of a scale upSources of funding for growth and finding the right people to investThe messy nature of startups and the power of empathy from an experienced investorWhat the hardest moment of Pip’s journey taught herDivesting yourself and learning to delegate to the teamThe nerve wracking moment of going on TV for the first timeThe importance of B-Corp status and making a sustainable brandHow Pip would define successThe energy you gain from a crisisWhy the best way to learn is doingPip’s advice for her 24 year old self