What was your Eureka Moment?
When I started cycling to work, the only pannier bags on the market were really ugly, PVC sacks. I hunted for one worthy of carrying into work but all searches were fruitless and after a couple of years, I decided to design my own. I got four samples made up and cycled them around London to test them out. When numerous cyclists stopped me at the lights to ask where the bags were from, I knew I was onto something.
How did you finance the business?
I decided to bootstrap the business and used personal savings for start-up capital. I then worked full time to get enough money to re-inject into the business. External investment hasn't appealed so far as I haven't wanted to give up ownership and become a company built solely around profit at the detriment of the products.
Do you have any regrets along the way?
I've learnt a lot since launching but I don't regret anything as every stage has taught me lessons. Sometimes I do wish that I launched with someone else, to share the highs and lows with and to spur each other on, but for every successful joint-owner story I hear another disaster story where the two haven't had the same vision. And I do wish I'd taken Instagram more seriously at the beginning!
What would you have changed?
If I were to start again, knowing what I know now, I would have saved significantly more money to invest in marketing right from the beginning.
www.hillandellis.com [1]