As part of our 2024 Seed Stage Series, we caught up with The Pitch alumni, Timothy Spinks, to hear about what it’s like to run a solo business venture. He shared more about his experience with The Pitch and his journey since winning the Kit up with Currys Business competition.
Our 2024 Kit up with Currys Business competition offered an incredible AI-powered tech bundle to two lucky winners. Currys offers an amazing range of tech for any budding entrepreneur or startup founder. To browse their products and kit up for startup success, click here.
Meet competition winner Tim, founder of Sleep Toniq
Sleep Toniq was founded in 2022 after a few too many sleepless nights. Tim was inspired by an ancient folk remedy for insomnia which used apple cider vinegar and honey to promote healthier sleeping habits.
Tim found that the remedy was extremely helpful and actually improved his sleep. With a bit of fine tuning on the flavours and a helping hand from his partner, Sleep Toniq was born.
If you’ve experienced restless nights and are intrigued by Tim’s sleep elixir, check out the Sleep Toniq website to find out more about his solution.
Tim joined us for our Seed Stage Series to chat about his journey so far, where we discussed the highs and lows of his business venture, and he shared valuable advice on how to navigate running a business and overcoming setbacks and challenges.
Off the back of our conversation, we’re sharing some key takeaways from the episode that will help any startup founder run, manage and improve their business, whether you’re several years in or just starting out.
1.The right tech makes running a business a breeze
It’s a no brainer, every founder needs the right tech to succeed. We know that most founders are still using their old, laggy tech while running their business because chances are, you prioritise upgrading other things first.
Currys Business are on a mission to help startup founders find the right tech that’s not only fast and reliable but offers innovative solutions that help you run your business better.
Here’s what Timothy had to say about the AI-powered tech bundle he received from Currys:
“I still had the laptop I bought just after university eight years ago, so a very timely intervention from Currys. Currys have given me The Surface Pro that I can take anywhere. It offers a stable battery life, looks good on Teams, and has enough processing power to do everything I need.”
Your tech should offer a helping hand with keeping your business organised and help you prioritise all important tasks. We recently put together an article that explores all the ways Currys Business tech can help you while running your business and how you can streamline your startup with the use of AI. Check out the full article here.
Why Currys’ tech could be just right for your business
With technology continuing to evolve, it can be hard to find something that’s right for you and with so many options out there, researching the best tech can be extremely time consuming and we know your time is valuable. Here’s a piece of kit that gets our stamp of approval and hopefully saves you some time in your search for a tech upgrade.
The Intel core ultra processor unlocks AI experiences that allow you to increase productivity and simplify the more time-consuming tasks. Here are just a few ways the Intel core can help improve your business.
- Quick and easy access to Copilot: Microsoft Copilot can help answer your questions quickly or compose drafts in Word, simplifying tasks and reducing the time you spend.
- Streamline your business with voice command: Use voice commands to perform tasks, find information and create.
- Fast charging and long battery life: Charge up to 80% in less than 60 minutes through Surface Connect or USB-C®.
If you’re still not sure which tech is right for you, Currys Business offers a handy AI hub that offers a roundup of all their latest and greatest tech in one convenient location. Find more details here.
2.Understand the importance of R&D when starting your business
Building a business from the ground up will mean you’ll inevitably face some challenges. But there are ways you can minimise the risks.
This is where research and development (R&D) comes into play. R&D allows you to research your market thoroughly, spot any areas that need attention or improvement and then develop your business accordingly. Arguably, it’s one of the most important steps of building and running a successful business venture.
Things won’t always go to plan, as Tim explained when talking about how he navigated his own set of challenges:
“I thought that I was essentially going to start manufacturing the drink at home. I spent a year refining the recipe, trying to make it at home before I realised that I had to find a production partner and rethink the entire business.”
Why R&D is important for startups
- Enables you to develop unique solutions: Startups that invest in R&D are more likely to create innovative solutions to products.
- Understand the needs of your market: R&D helps startups identify gaps in the market where their products can make the biggest impact.
- Refine your products: R&D allows startups to test, trial and refine their products to meet the needs of their customer.
R&D allowed Tim to develop his product further and improve the overall flavour too. “I was coming to bed with this big steaming vinegary mug of tea that my girlfriend absolutely hated. […] Then I realised if you chilled it down, it didn’t smell as bad and if you added a little dash of orange, it actually improved the flavour,” he shared.
3.The importance of mentoring and developing a greater support network
Any business thrives with the support of others. It’s one of the greatest reasons for networking and building a community around your business. Tim received support from The Prince’s Trust which helped make Sleep Toniq a possibility.
The Prince’s Trust offers courses, resources and other support to help people aged 11 to 30 develop essential skills, get ready for work and access job opportunities. Tim shared how fundamental mentoring was to him and his business:
“I joined The Prince’s Trust when I decided I wanted to start bringing the product to market […] Without that support network, I definitely wouldn’t have made it through. That is certainly another key to getting through that initial year.”
Why mentoring is so important to founders
According to The FSB, 70% of entrepreneurs who receive mentoring survive in business for five years or more. Here are just a few reasons how mentoring and developing a greater support network can help you improve your business:
- Improve decision making: Mentors will be able to provide you with guidance on making better strategic choices for your business.
- Gain access to new networks: Mentors can help you build on your list of industry connections. This can lead to potential introductions to investors, partners and customers.
- Learn new skills and build knowledge: Mentors will often share their bits of wisdom and knowledge, helping you improve your understanding of your business, the industry or any other topic or area you’re not as familiar with.
If you’re struggling to find the right resources for your business, we have an excellent guide updated every year with all the latest offers and information on government opportunities available to the small business community. Check out our article Updated guide for 2024: Government support for small businesses.
Currys Business offers an abundance of guides and articles designed to help business owners. From productivity to staying safe online, Currys covers a vast array of topics that any founder would find incredibly useful. Visit the advice hub here.
Interested in hearing more about Tim’s journey and how Currys Business has helped him improve his business? Watch the full Seed Stage episode below:
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