Episode 10 Summary: "How to Bootstrap Your Hobby into a Successful Business" with Nicola Reed

1. Introduction

In Episode 10 of "James Reed: All About Business," host James Reed engages in an insightful conversation with his wife, Nicola Reed, the founder of Beeble—a unique spirits company that infuses honey produced by her own bees into various alcoholic beverages. The episode delves into Nicola's journey of transforming a personal passion into a thriving business, offering listeners valuable lessons on entrepreneurship, resilience, and the harmonious blend of business with environmental advocacy.

2. The Beginnings of Beeble

Nicola recounts the serendipitous start of her beekeeping journey, which began with a surprise birthday gift from a mutual friend, Tania. Initially hesitant due to concerns about managing bees alongside her horse, Nicola decided to embrace the challenge after attending a beekeeping course.

Nicola Reed [02:02]: "The moment the beekeeper took the lid off the hive, the hum of the bees and the smell of the wax just made me know that I wanted to keep bees. And the rest is history, really."

This newfound passion led her to expand from one to two hives, producing more honey than she could manage. Facing the dilemma of excess honey, Nicola experimented by infusing honey with whiskey, inadvertently creating the first batch of Beeble.

Nicola Reed [05:00]: "I put all the frames into a big saucepan of whiskey and left them for a month. The product tasted really delicious, and I took it back to the farmer's markets where it literally flew out the door."

3. From Hobby to Business

Initially treating honey whiskey making as a hobby, Nicola's venture gained commercial traction when her friend, Matthew Brower, an accountant, encouraged her to formalize Beeble into a business. This pivotal moment marked the transition from a personal experiment to a structured enterprise.

Nicola Reed [05:42]: "Matthew approached me and said, 'Have you ever thought of making this into a business?' His enthusiasm and expertise convinced me to take the leap."

4. Building a Partnership

Teamwork was essential for Beeble’s growth. Nicola brought her creative and artisanal skills, while Matt contributed his financial acumen. Their complementary strengths fostered a balanced and effective partnership.

Nicola Reed [07:00]: "I trained as a teacher and artist, while Matt was an accountant. We came from extremely different skill sets, and we've taught each other a great deal."

5. Branding Challenges

One of the initial hurdles was establishing a brand that resonated with consumers. Nicola involved her daughter’s artwork for the bee logo, which received positive feedback but also faced skepticism from Matt about its market alignment.

Nicola Reed [08:36]: "We hired a branding firm for a 360 process, but eventually, we ended up back to our original design, which proved to be an authentic representation of our brand."

Despite differing opinions, they maintained their artisanal and organic ethos, which became a cornerstone of Beeble’s identity.

6. Maintaining Business Values

Nicola emphasizes that Beeble’s success is rooted in passion and environmental responsibility rather than solely profit. This philosophy ensures that the business remains true to its origins and contributes positively to the ecosystem.

Nicola Reed [12:42]: "If you start a business with passion about something, whether it's a product or teaching someone something, it makes it fly."

7. Lessons Learned from Beekeeping

Beekeeping has imparted numerous lessons to Nicola about teamwork, resilience, and the importance of maintaining a healthy ecosystem. She draws parallels between bee behavior and effective business practices.

Nicola Reed [18:35]: "Bees leave every flower as they found it. They are part of an incredible ecosystem, and we have so much to learn from them."

8. Overcoming Business Challenges

Navigating a male-dominated spirits industry posed significant challenges. Nicola and Matt faced skepticism from major companies like Diageo but persevered through resilience and adaptability.

Nicola Reed [28:19]: "The spirit business is quite male-dominated, and people were snobby about putting honey into whiskey. But we pushed on and didn't let rejections deter us."

Their commitment to quality and authenticity eventually carved a niche for Beeble in the market.

9. Marketing Strategies

Beeble's marketing strategy combines traditional methods like farmers' markets and fairs with a robust online presence. Engaging directly with customers through tastings and events has been instrumental in building a loyal customer base.

Nicola Reed [30:39]: "We run tastings and attend fairs to tell people about the product. When someone tastes it, they generally buy it."

10. Customer Feedback and Quality Assurance

Maintaining high product standards is paramount for Beeble. Nicola ensures that all honey used is sourced directly from trusted beekeepers, avoiding mass-produced alternatives to preserve quality and authenticity.

Nicola Reed [40:44]: "We never buy honey off the shelves. We always go and see the bee farmers to ensure it's the real thing."

This dedication has earned Beeble numerous Best Taste awards, reinforcing the importance of product excellence.

11. Future Plans and Advice for Aspiring Entrepreneurs

Looking ahead, Nicola aims to expand Beeble's product range and market presence while exploring non-alcoholic options. She passionately encourages aspiring entrepreneurs, especially those considering starting a business later in life, to pursue their passions without letting age be a barrier.

Nicola Reed [16:50]: "If you have a passion, you've got to follow your dream. It just does not matter what age you are."

12. Conclusion

Nicola Reed’s journey with Beeble exemplifies how passion, coupled with strategic partnerships and unwavering commitment to quality, can transform a humble hobby into a successful business. Her story serves as an inspiring blueprint for entrepreneurs seeking to blend personal interests with entrepreneurial ventures, all while making a meaningful impact on the environment.

James Reed [41:16]: "I wish you every success with that. Thank you to Nicola for joining me on All About Business."

Notable Quotes:

• James Reed [15:45]: "But having a partner is helpful in that respect, isn't it? Because if you're on your own, it might be more lonely being rejected five times and picking yourself up again."

• Nicola Reed [32:46]: "As long as you get out there and do the work and you face the challenges and you persevere. I think perseverance is really the winning quality to making a successful startup."

• Nicola Reed [38:36]: "And that reflects on Beeble too. I sometimes think that one batch can taste slightly different to the next and I like that it gives it an extra quality that no two bottles of Beeble are quite the same."

Key Takeaways:

• Embrace Your Passion: Nicola’s transition from hobbyist beekeeping to a successful business underscores the importance of following one’s passion.

• Strategic Partnerships: Collaborating with partners who bring complementary skills can accelerate business growth and overcome challenges.

• Authenticity and Quality: Maintaining high standards in product quality and staying true to the brand’s values can differentiate a business in a competitive market.

• Resilience: Facing and overcoming setbacks with perseverance is crucial for entrepreneurial success.

• Environmental Advocacy: Integrating environmental consciousness into business practices can resonate with consumers and contribute to broader ecological goals.

For more insights and to follow Nicola Reed’s journey with Beeble, visit Beeble Buzz or explore James Reed’s commitment to environmental causes at reid.com.