Entrepreneur Q&A: Jake Hayman co-founder of Frame Again

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Join Jake Hayman for a quickfire Q&A session. Jake recently appeared on Dragons Den with his business partner Joe, only to turn down an offer from serial entepreneur Peter Jones.

 

Today Jake took a few minutes from the busy world of Frame Again to answer some startup friendly questions.

To hear Jake and Joe’s first interview with Breaking Biz click here, and to hear from other entrepreneurs, click here.

Full interview

Breaking Biz:

What was your first ever business idea?

Jake Hayman:

It was a car washing business, going up and down the street with my little brother washing cars one summer

BB:

Why did you decide to start your own business?

JH:

I wanted to make some money and solve a problem in the market place and have an adventure.

BB:

How do you identify a real business opportunity?

JH:

I think you look at something that you’d like to buy at a price you’d like to buy it that you currently can’t buy and if anyone else agrees with you then that’s a pretty good place to start a business from.

BB:

What skill or ability is most important for an entrepreneur and why?

JH:

I think the ability to take people with you and buy in some faith is the most important thing because at the end of the day as an entrepreneur you’re trying to do something in some way, shape or form that hasn’t been done before or in a place that hasn’t been done before and you don’t have proof yet that it works to the extend you want to do it because if it did you’d already be making all the money that you need to. So, I think the ability to take people on the journey with you and get them to show some faith in your ideas is the key thing.

BB:

You know someone who wants to start a business but fears leaving their job. What do you say to them?

JH:

I’d normally say see if you can start it while you’re still in your job and do everything you can to road test the business and to get it going, work the overtime or whatever it is you need to do from a position of salaried employment because the second you quit the clock starts ticking, so I think you should do it but keep the safety net for as long as possible.

BB:

Are there people who start a business for the wrong reasons?

JH:

No I’m not sure there are. You can start a business just to make money, you can start a business to solve a problem. You get different results at the end of it but I’m not sure either are the wrong reasons.

BB:

What are the most important lessons you’ve learned?

JH:

Everything costs more and takes longer than you think it’s going to.

BB:

Can you recommend any books or resources that helped you along the way?

JH:

I can but I’ve forgotten the name of the book……yes..Guy Kawasaki, what was his book?  The Art Of The Start, that’s it!

 

BB:

What’s the best part of your job?

JH:

The best part of my job is selling frames.

BB:

What’s your biggest fear?

JH:

Bankruptcy.

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