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It's been 3 years, and I've failed 😰

Every entrepreneurial podcast will tell you how fashionable failure is: "Win or learn!" "Fail fast!"

A bit of advice? Don't be fooled.

Failing (once you’re brave enough to) will rip your stomach out and leave you for dead 💀

3 years ago I launched IKO, my drinks brand and first ever business. The timing was perfect. I had unshakable optimism. And after a career in insurance, It finally felt like I was following my calling.

I raised money quickly from Angel investors and felt that rush of confidence and responsibility that came with that first big cheque.

I strategised, planned, and executed. I went out day after day, month after month and sampled, tested, and sold. I relentlessly chased growth.

Every listing felt like winning the lottery. Every rejection a crushing blow 💰❌

But for all the wins, the obstacles came thick and fast. One moment I'm investing in e-commerce subscriptions as a promising growing channel, the next I've spent thousands only to be back to square one.

The course correction hit moral and finances HARD 🫣

When IKO was a pipe dream, I imagined a £1m+ revenue within 3 years. I imagined seeing people on the street with my drink in their hand. I thought it would be BIG.

The reality? 3 years on…

Circa £1k revenue per month
Being cash positive is a triumph
I’ve got crazy loyal customers but not enough of them
Very challenging to find additional funding

I honestly thought creating a cool brand and a fantastic tasting product would be enough. That with a bit of hard graft, the product would start to sell itself. But it just hasn’t worked out that way…

Having poured my blood, sweat, and tears into a dream I was very attached to - all that time! - it is not easy to admit failure. It is very easy to say and hear "just fail fast and keep moving!". It's much much harder to do in reality.

It took me 1 month to accept the brand wasn't where I'd dreamed it would be. It took 6 months to stop beating myself up to finally be in a place where I could move forward.

So if you're reading this as the walls are closing in around you...

1. Take a step back. Take the holidays off. You need your baseline of energy back.

2. Make a hard and honest statement about where you are now. Then accept it.

3. Make a brave and difficult decision about how you move forward. Then move.

If you're really struggling like I was, remember why you started.

You'll realise there's no such thing as wasted time. "Never give up" doesn't mean "go until you drop". It just means “keep moving”.

Have you ever persevered for years before finally cracking something?

PS I’m currently looking for a job - so please share this post with your network?

Skillset: pitching, strategy, getting into the nitty gritty with financials and supply chain, marketing and brand 💪