New Business magazine Winter edition - Cover interview Oliver Cookson

Oliver Cookson's entrepreneurial journey is a prime example of bootstrapping-creating and scaling successful businesses without relying on outside funding. From the explosive growth of Myprotein to his latest venture, Verve, Oliver has consistently sought to solve real-world problems with simple, scalable solutions. His philosophy is grounded in resilience, simplicity, and creating lasting value. As the founder of Cookson First Aid, Oliver is also helping to drive important change in the health and safety sector. In his book, Bootstrap Your Life, he shares raw, practical advice on building a business from scratch. Today, as he continues to innovate in the health and wellness space, Oliver remains agile and forward-thinking in his approach to entrepreneurship.

Oliver speaks to New Business on his journey of bootstrapping, the importance of value over trends, his passion for health tech, and why aspiring entrepreneurs should focus on creating real solutions. He also offers insights from his book on navigating the entrepreneurial landscape with confidence, resilience, and authenticity.

NB: Looking back to your early years, what were the first experiences or influences that sparked your interest in entrepreneurship?

Entrepreneurial traits are a bit of both nature and nurture. After plenty of self-reflection, I think it is a bit of both.

One thing that has always been there for me is curiosity. I have always wanted to understand things, improve them. That is just how my brain works. And from early on, self-sufficiency became a big part of my life. My parents split up when I was eight or nine, and I grew up with a single parent, no siblings, and was pretty isolated from my friends. So, I had to be self-reliant.

Some might call that mild trauma-and yeah, having your parents break up is definitely that. But I have come to believe it's not always a bad thing in the long run. There's a silver lining. It made me resourceful, driven, self-reliant.

Building and growing things-it is just in me. It's part of my DNA. I have always been a resourceful person, and innovation is close to my heart.

NB: Myprotein began with just a £500 overdraft. Could you share the challenges and motivations that kept you going in those early days?

It really was £500-that was the overdraft limit NatWest gave me. I didn't have any other money to my name. My mum and dad both worked hard, but they didn't have much, and there were no rich uncles or friends who could help. That was it; I had to survive with what I had.

In some ways, starting with so little was a blessing in disguise. It forced me to make the most of what I had. I was the sole founder and owned 100% of the shares until 2011. No investment, no loans-nothing but bootstrapping for seven or eight years as Myprotein grew to become Europe's number one.

Every challenge landed squarely on my shoulders. With such a tiny budget, I had to be relentless and resourceful-there was no room for error. I had to code the website from scratch, build it in Notepad, using HTML, ColdFusion, MySQL, JavaScript-all of it. I developed products, blended them, packed orders, and shipped them. It was literally a one-man band for the first couple of years.

But I loved it. Every day, I jumped out of bed thinking about Myprotein. Those 16, 17, even 18-hour days were not a cliché-they were my reality.

What kept me going was the vision of what Myprotein could become. I genuinely believed it could be the largest in the world, and that belief drove me. Starting with just £500 to reaching number one in Europe when I sold it-and eventually number one globally-feels like a monumental effort.

The key, though, is taking it step by step. If you told someone at the start that I would get from £500 to the number one brand, they would probably laugh. But that's the lesson-you cannot comprehend the full journey at the beginning. You just have to keep moving bit by bit.

NB: How did you find the gap in the market that led you to create Myprotein, and what initial strategies helped the brand stand out in a competitive industry?

I saw a gap in the market. I was a gym-goer myself, using protein products, and at the time, I was buying from a retail brand called Maxi Muscle. I looked at the expensive brands and thought, "Why can't I create these products, manufacture them, and sell them directly on a website?" I realised I could sell the product for half the price of what they were charging and still make a good margin. That was the start.

But it wasn't just about price. I was offering better quality products, and I was transparent about everything. We offered certificates of analysis, so customers could make informed choices. I was tired of the typical US-style marketing that exaggerated results. I thought, "Let's just be real. Let's treat our customers like they are smart and can make informed decisions."

So, we made sure our website was not overly salesy; it was just packed with useful data. I wanted to give people all the information they needed, without the fluff.

The community aspect was huge, too. We were the first to launch a discussion forum on an e-commerce website in the UK. We were ahead of the curve not just in sports nutrition, but also in e-commerce, particularly in the UK and Europe, and honestly, we were global pioneers in some ways. The customer feedback loop was key for us.

It was a super agile setup, and we consistently moulded the business to our customers' needs. The user experience was also clean and transparent. We made sure to show exactly how much protein you were getting per calorie, whether it was hydrolysed, all the details for those who wanted it. We were part of that movement towards transparency.

NB: What motivated you to sell your business in 2011?

It was about taking some cash off the table while still maintaining full control for the next phase of growth. By that point, we were already number one in Europe, and we had the blueprint down. We were operating in Germany, France, Italy, Spain-localised marketing, local websites-well ahead of the curve. The next stage was more operational: rolling out the same model across Europe, Asia, and America.

So, I thought it was a good time to take some cash off the table. I had 100% of my net worth tied up in Myprotein, and keeping 100% of anything that size was super high-risk. I had just had children and started a family, so I wanted to secure their future. Once that was sorted, I could get back to the next growth cycle, which I was very clear on.

We had huge interest from private equity firms and even conglomerates like Nestlé and PepsiCo. In fact, we had over twenty private equity bids, and all the major VCs and private equity houses in the UK were involved. Myprotein was the "sexy" business of its size that year, and it was a unique opportunity.

NB: Why did you choose to sell to The Hut Group?

I did not originally plan to sell to The Hut Group. My goal was to sell a minority stake in the business while maintaining full control. After all, we had significant offers on the table. But during the process, I ended up walking away from a major deal with a renowned private equity firm because they tried to manipulate the numbers, using the short-term flatlining of growth during the due diligence phase to lower their offer.

I made the decision to walk away because trust, honesty, and transparency are vital to me in business. I was not about to enter a deal with people I could not trust. I was exhausted from the entire process, but I knew where I wanted to take the company, so I continued with the sale.

Then The Hut Group came in. Their offer stood out because it was straightforward but what truly set it apart was that it went beyond just the numbers. One of the key factors was that they allowed me to reinvest 50% of the proceeds back into the company, making me a major shareholder in the group. I believed in the leadership, particularly Matt Moulding, their CEO. I knew Myprotein could be the number one brand worldwide, and I wanted to stay involved in that success.

But here is the kicker: shortly after the deal, I was able to walk away, completely unencumbered by restrictions, and do what I wanted. It was a clean deal. Unfortunately, it turned out that The Hut Group was not entirely transparent in their financials. The figures they presented during negotiations, showing a £5 million profit, were fraudulent- they were losing money. This was a huge shock, and I am not using the word ‘fraud' lightly-this ended up in the courts, and I was awarded £7-8 million in net damages.

In hindsight, if I had known the real numbers, I would have reconsidered and gone back to the table with other interested parties. But in the end, the deal got done, and that's the reality of it. The important lesson here is the value of due diligence and fairness in business.

NB: After Myprotein, you have continued to invest and build, including the creation of Cookson First Aid. What inspired you to enter the first aid industry ?

A few years ago, I had a significant liquidity event-£258 million in cash. I wanted to give something back to the city and to people less fortunate. So, I set up the Oliver Cookson Foundation. This was the first step.     

The second step was creating a non-profit initiative. I asked myself, 'What's the most important thing you could do for anyone?' And I realised: saving a life.

If you're in a situation where someone's life can be saved with a skill you could learn-CPR, for instance-then that's the most valuable gift you could give.

I was stunned to find that first aid isn't taught properly in schools. So, I decided to create Cookson First Aid. We offer free first aid training to disadvantaged communities.

We've trained nearly 11,000 people in Greater Manchester. It's a life skill that saves lives and alleviates pressure on the NHS.

We started with a one-hour course. Now, we have expanded into areas like children's first aid and mental health first aid. We are also the first in the world to offer training in sign language. Our long-term goal is to have Cookson First Aid operating in every city across the UK.

NB: Many aspiring entrepreneurs struggle with scaling their businesses. What key principles or strategies are essential to scaling sustainably?

The key is to build a solid foundation-efficient systems and reliable supply chains. Always plan for the worst-case scenario. Don't just think short-term-think long-term. If you really want to build something big, set up systems and processes that can scale with you. Getting the foundation right is critical.

Another principle is to maintain customer focus and high quality. Always put the customer first. Hire people who align with your vision. The team should complement your skills. For example, if you're not the most operationally minded, hire a strong operations person.

Finally, reinvest in your business. Don't get distracted. Put profits back into the business to keep it growing. I didn't buy the Ferraris or indulge in luxuries until well after my first exit. The focus should be on reinvestment.

NB As someone who has successfully navigated multiple industries, what do you look for when assessing the potential of a new business idea or market?

I focus on genuine problems that the business solves. One of my strengths is problem-solving. If an idea doesn't address a real need, it's unlikely to have long-term success.

I am drawn to industries ripe for disruption. The key pillars I look for include transparency, customer experience, and product quality. Passion and resilience are also vital. Execution is much of the success.

NB: You have launched Verve, a new nutritional drink brand. What prompted you to enter this market, and what makes Verve different from your previous venture, Myprotein?

Powdered nutritional supplements aren't new to me, but with Verve, I saw an opportunity to fill a gap. With Myprotein, we were early adopters in the UK and Europe, even global pioneers in some ways. We built something that worked and became huge, but over time it got a bit complicated. There were just too many options, and I think the market has shifted. Nowadays, consumers want something simple that solves a problem quickly and conveniently. That's what Verve is all about.

We've created products that tackle specific problems, starting with our greens powder. It contains eighty active ingredients, and you take it once a day. That's it. You get all the nutrition you need-vitamins, minerals, greens-all in one simple product. The idea is to keep it straightforward. You get a glass bottle, an unboxing experience, and it's delivered to your door every month.

It's a premium offering compared to Myprotein when it started. It's more streamlined and easier to use. The real game-changer though is something we are about to launch. I couldn't do it when we first launched Verve, but we're very close now. This innovation is our unique selling point, designed to revolutionise how our customers experience health and wellness. We are on the verge of launching it and I truly believe it will set a new benchmark in the industry

NB: You have written Bootstrap Your Life to share your journey and lessons. What motivated you to write it, and what do you hope readers will take away from it?

The motivation to write Bootstrap Your Life came from a mix of personal and professional reasons. I wanted to document my journey and preserve those memories, not just for me but for future generations. But more than that, I wanted to inspire other entrepreneurs.

Bootstrap Your Life is aimed at anyone thinking of starting a business without big investors. I have always believed you don't need massive funding to succeed-you just need the right mindset and a willingness to put in the work. I hope readers will take away practical advice and feel empowered to pursue their own ventures.

NB: The entrepreneurial landscape is continuously evolving. Are there any sectors that you find exciting now?

I stay curious. I'm excited about health tech and personal wellness. I think the future belongs to businesses that can genuinely contribute to society.

What's next for you? What advice would offer to entrepreneurs?

My focus is on growing Verve and Cookson First Aid.

For entrepreneurs, my advice is to stay adaptable and agile. Build a solid foundation and always believe in yourself. Fear will hold you back-no good decision comes from fear. Stay focused on delivering real value and don't get distracted by trends.