Here we go, Episode One of Lock-In - and it's a cracker! Our guest this week is Matt Kelly, the founder of Spacegoods - Europe's fastest growing all-in-one Mushroom Coffee blend. His journey through e-commerce has been an absolute rollercoaster, from dropshipping ripped jeans, to building two 8-figure brands before both ultimately entered administration in 2021. It's the learnings he took from these that have helped him build Spacegoods into one of the UK's fastest growing food brands.
Our conversation with Matt is raw and honest. You'll hear everything from his thoughts on VC funding vs bootstrapping, through to his ongoing struggles with hiring. Matt's a marketing genius, and today he dives into his playbook for success, sharing real insight into what's working and what isn't for Spacegoods.
Timestamps:
00:00: Intro
00:45: How Matt Stumbled Into Entrepreneurship
06:30: From Bedroom Brand to $50m - Simple Shit Scales
15:25: Moving Into Retail - Does It Move The Dial For Brands?
17:35: Building A Team - You Should Be Able To Do £20M Per Year With 20 People
21:28: Should DTC Brands Raise VC Money?
25:57: Building A Process When Raising Money
29:45: Good Angels Add More Value Than VC's
31:55: What Are The Biggest Challenges Spacegood's Faces?
35:55: Starting A Business With An Influencer - The Key To Fast Growth
40:12: When Influencer Marketing Goes Wrong
42:27: Learning From Failure - What Went Wrong With Neon Beach
50:53: What Do The Next 12 Months Look Like For Spacegoods?
54:24: What's The Biggest Opportunity In E-Commerce Right Now?
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