In this fascinating interview, we discussed:
Juliet’s recipe for success
The importance of branding
The key role of distribution channels
The positive and negative effects of investors on your business
The key to surrounding yourself with the right people
Understanding the language of different markets and how to make them work for you
How to nurture the culture of your business and keeping it the way that you want
What business mentors could do for you and your business
2:08 | Juliet describes her position in Grenade prior to stepping down in 2019. She details the purpose of Grenade, and the size of the business.
3:10 | Juliet outlines the global distribution network of the company.
3:37 | Juliet discusses the change in the market in relation to Grenade's most popular products.
4:08 | Juliet describes Grenade's audience, and its broad mix of customers.
4:41 | Alan asks Juliet what inspired her to start the company. Juliet recounts her career path, and talks about how she met her business partner.
5:25 | Juliet describes the first years of the business, and the work that went into advertising their products.
7:15 | Juliet explains how she self-funded the business.
8:05 | Juliet highlights the importance of having a belief in a product, as well as having a good understanding and reputation when going into a market.
9:29 | Alan and Juliet consider the importance of a good partnership. Juliet talks about the value of having separate roles within the company.
10:57 | Juliet explains the choices made by Grenade in regards to manufacturing their products.
12:19 | Alan asks Juliet about IP protection.
12:46 | Juliet talks about the process of moving into the mainstream market.
14:04 | Juliet emphasises the importance of strong, original branding, and says that she attributes much of Grenade's success to marketing.
16:14 | Juliet describes the growth of the business, and the process of promoting Grenade's protein bars into the mainstream snack market. She refers to the opportunities at this time as a chance for “de-risking”, and explains why this was important to the process of developing the company.
19:02 | Juliet talks about the difficulties of being emotionally invested as an entrepreneur, and the positives of having guidance from a partner and investor.
20:18 | Juliet describes the changes that she and her partner made to the company following their first major business deal.
21:22 | Juliet reviews the effect of investors entering the company, and discusses the process of hiring more people and delegating.
23:30 | Juliet describes how the business grew organically.
24:05 | Juliet considers the differences in products and branding intended for US and for Global markets. She also recounts the challenges of manufacturing and operating a company in the US.
26:55 | Juliet touches upon the Middle Eastern market, and the challenges of exporting to countries like Dubai.
27:58 | Alan asks Juliet about her plans for the future. Juliet responds by detailing plans to offer branding guidance to start-up businesses.
29:17 | Alan asks Juliet to reveal some of her mistakes, and her learnings. Juliet affirms her belief in the importance of being surrounded by like-minded people when growing a business.
31:56 | Juliet describes her approach to employment and creating a culture within a company.
34:34 | Juliet gives her contact details, and invites small businesses to get in touch regarding her mentoring and consultancy service.
36:35 | Alan reflects on the learnings of the interview.
37:00 | Juliet’s development strategy, focusing on the importance of knowing your market and product, and having a clear goal.
40:10 | The benefits of Grenade’s business strategy in the later years with regards to exporting and distribution.
40:55 | Marketing was such a key part of Grenade's success, highlighting the value of having memorable branding.
43:52 | The different responsibilities in the business, focusing on financial responsibility.
45:42 | The different variables in funding, and the choices that Juliet and her partner made.
47:46 | Juliet and her partner were able to reduce the risk of setting up a new company because of their intimate knowledge of the market, and their pre-existing relationships within the domain.
48:50 | The concept of “de-risking”.
50:30 | The crucial importance of the culture within Grenade, and how this was a key part of the business's success.
52:46 | The lessons learned by Juliet upon starting the business.