Innovation and Entrepreneurship Essay

Innovation and Entrepreneurship Essay

In a group of 5 students, you will identify an entrepreneur and conduct a semi-structured interview with the entrepreneur identified. You will find out who the entrepreneur is, what they do, how they came up with the idea, what was difficult, what was good etc. Individually you will analyse the interview by drawing on concepts and theories discussed in class. Individually you will write up your analysis in a report that introduces the entrepreneur and explains their journey through the entrepreneurial process discussed in class.

You will write a traditional 1100words essay that (1) introduces the entrepreneur (e.g. psychological characteristics and personal traits, family/education/previous working experience background, values, motivations for becoming an entrepreneur) and (2) tries to explain the process and the practices used by the entrepreneur in their entrepreneurial journey (e.g. how the entrepreneur came up with the idea, decided to transform the idea into reality, developed the resources to launch their venture, whether they developed a strategy, what tools they used).

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You will have to use a minimum of 8 references from any of the class content (readings, resources used in the class activities and guest lectures) and from your own research.

You must reference in APA 7th

 Company name : Kooee Snacks  

 Interviewee: Shaun Malligan

The following is the subtitle of the interview, please write this essay according to this subtitle.

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Ginny Huang: How do you?

 

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Shaun Malligan: Oh,

 

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Shaun Malligan: I don’t.

 

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Shaun Malligan: Hi! Hi! Nice to meet you.

 

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Jenny Jin: Nice to meet you.

 

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Shaun Malligan: Yeah, I’m: Good. I’m: Good Friday. So just trying to get through the last few things before going to pick up my kids. What about you guys.

 

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Ginny Huang: Yeah, i’m sorry.

 

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Shaun Malligan: Ready to enjoy Friday. Let’s get this done

 

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Ginny Huang: real fast. Yeah. Cool.

 

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Shaun Malligan: Yeah, I know. I’m just like, uh, there’s just too many things that i’m like. Oh,

 

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Shaun Malligan: I’m not going to be able to finish everything that I was meant to finish on my list today. But no, I appreciate you guys taking the time,

 

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Ginny Huang: and I um, I don’t have a lot of context about this. The types of things that you’d like me to talk about. But um, yeah, I’m: Please go ahead. And yeah, we can. We can. We can start from wherever you’d like to.

 

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Yanzhang Feng(John): Yeah. Um. So

 

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Yanzhang Feng(John): so I will be. I’ll

 

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Yanzhang Feng(John): host for our first part. So um as you can see, we are all master program of management students for the University of Sydney, and and we are quite excited to learn from you as a successful entrepreneur. So as you can see me, my name is here, and John from, and you can call me, John and and Jenny here will be our main two host. So first first part we’ll be taking over by me. My questions is mostly focused on

 

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Yanzhang Feng(John): on your business and have a development and something like that. And out of that Jenny will be more focused. We’ll provide more questions about your personal experience, and after that I think that’s all about this wheel. And as you can see here, Jeannie Benke and County here, we’ll record any insight that’s useful for our report and feel here. We’ll manage our time in case we’re taking too much of the time,

 

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Shaun Malligan: and that’s it. So

 

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Shaun Malligan: yeah. So I would like to start our interview with any simple questions. Can you teach us how to pronounce your brand correct? We We make any confusion.

 

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Shaun Malligan: Yeah, yeah, it’s called Kui Kui, and he is the

 

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Shaun Malligan: product. You’ve got to fade it out, but it’s kui. It’s sort of a synonymous

 

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Shaun Malligan: sound to any Australian sound for those that go bushwalking or hiking it originally is an indigenous word, I believe,

 

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Shaun Malligan: that was made in the wild to communicate between long distances from one party to the other, and now it’s sort of synonymous to any Australian that goes into the bush into nature. You’ll often do a big

 

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Shaun Malligan: coo

 

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Shaun Malligan: and out in the wild. And then you’ll potentially someone else down will coo it back, or but often it’s just sort of like

 

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Shaun Malligan: a sound to see how far your voice can travel, and it’s that sort of being in nature, and that great feeling of being in nature. And I don’t know if you guys are, you all based in Sydney.

 

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Shaun Malligan: But how it came about was, I do a lot of trail running like running in the bush on small trails, and I was doing. I do a lot of Well, when I was especially younger I did. A lot of trail runs out in the Blue Mountains,

 

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Shaun Malligan: and I did one hundred kilometer race, and I still found that the best thing that was

 

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Shaun Malligan: like, even though it was such a a drag. And you’re tired. One of the most exhilarating things is when you get up to the top of a climb or a mountain, and you see that that view out there, and you’re like

 

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Shaun Malligan: that was sort of the inspiration and the like exhilaration that I felt, and I thought that would be a perfect way to capture the outdoor essence of our brand, and when when I first started it was very much

 

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Shaun Malligan: targeted towards hikers and everything, and so we thought that would be an appropriate brand for our name. And now it’s sort of just taken its own meaning, and it sort of is our own thing. Now.

 

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Shaun Malligan: Yeah, I think that’s really inspiring because we spend a little time study Kuwait, and we try to find any useful information from the Internet like your official website or Youtube Channel.

 

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Shaun Malligan: Yeah. So So we found this a little video talking about the beginning stage of Kui. So actually, we know the first group of the fans for your snacks. Actually, your coworkers back in New York. And yeah, good is but their support make you decide to start your own business. Yeah. So

 

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Shaun Malligan: what we want to know is what was your job before you guys started Kuing. I was working at the

 

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Shaun Malligan: we were working in the transaction advisory group, and I did. A lot of where we were located was a lot of companies in distress, restructuring,

 

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Shaun Malligan: and and that’s where I worked in that group. And so I did that for a few years. But I came out of the university with a law degree and an economics degree, and fell into

 

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Shaun Malligan: um. Ernst and Young and I’ve done some internships at similar companies, because right at that time in two thousand and twenty, that was just at the end of the last financial crisis in Australia. And so that’s where a lot of the jobs were, and it’s funny like ten years later or twelve years later. It’s sort of like

 

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Shaun Malligan: it’s sort of like you’re seeing the start of, and potentially another recession. But yeah, So that’s where I started. And so I got good experience in that area. I became a chartered accountant, but also really got to see

 

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Shaun Malligan: the other end of of a business like like, because we would often take control or look into businesses, looking to and see their cash. See how they were operating and running,

 

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Shaun Malligan: and there was a lot to understand, and and it was a good experience for me, as someone young to understand how a business runs, and what sort of drives it, and how important

 

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Shaun Malligan: cash is, how important, Like having some sort of safety net with your companies, and and just just different industries, so that that exposed me to a lot of things. But it also, I think the thing I didn’t like was that you were dealing with companies in distress, and you were dealing with companies that were you were looking to

 

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Shaun Malligan: preserve capital rather than try and grow capital, and it may sort of made me feel like I don’t want to do something. You’re sort of like the undertakers of of of the business world. I want to do something where i’m growing something, and that’s sort of, I guess how

 

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Shaun Malligan: I thought about doing something myself, But it was really when I first started this. It was really just a hobby, and just something, because I was training a lot, and I was looking for healthy snacks,

 

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Shaun Malligan: and I couldn’t bring this product that I was interested in buying online from the Us. Because of import restrictions. So I started making it myself.

 

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Shaun Malligan: And so that’s That’s exactly That’s sort of how I stumbled into it like. If you’d asked me twelve years ago, if i’d be doing this, I would have never believed

 

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  1. She.

 

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Jenny Jin: Yeah, I think I think your previous experience back in um accountant will provide a lot of useful insights for your business at the beginning stage, and that’s really inspiring. So my next question is,

 

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Shaun Malligan: Yeah, I have this video in your Youtube Channel. It’s your Kickstarter Video: I think.

 

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Yanzhang Feng(John): Yeah,

 

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Yanzhang Feng(John): I realized back in the starting page for you. You initially just have two flavors for your jokeies.

 

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Shaun Malligan: Yeah. And and and I think the packaging is very inspiring when you put the jerkies with other natural snacks, and we can see a wonderful designing thinking in that. So at that kind of separate kui from a usual drink.

 

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Yanzhang Feng(John): How do you come out with these ideas. And why do you think there’s an opportunities for you?

 

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Shaun Malligan: Well, when we did that product that was in in the Us. And the Us. Had a more advanced, more mature market for meat snacks.

 

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Shaun Malligan: Um. Unlike in Australia, where this I think the trends in Australia were following the Us. Trends by several years. So in the Us. We thought we could do it like this jerky trail mixed product because

 

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Shaun Malligan: it was really unique. There was nothing like it in the market, and also the market was developed. Enough that you could have

 

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Shaun Malligan: little. You could have more niche products in there and still be successful. You weren’t just another beef, jerky or another copy product. It could be something unique and different.

 

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Shaun Malligan: There was also trends at the time. There were lots of people looking towards high protein diets and more natural diets, so that sort of played into that,

 

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Shaun Malligan: and the packaging that we came up with was really

 

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Shaun Malligan: really

 

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Shaun Malligan: a result of of an actual product need. So we we knew we wanted to combine it with that product. We knew we wanted to combine it with the nuts and dried fruit and jerky.

 

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Shaun Malligan: But the physical aspect of putting them together would mean that if you put them in the same pouch, the difference in water, activity or moisture. Content between the jerky and the nuts would mean that

 

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Shaun Malligan: the water or the moisture inside would flow from the jerky into the nut, so you’d end up with soggy nuts and really dry, jerky. So we thought, How do we stop that from happening? And we came up with this packaging solution, which was basically a a bag that had a strip in the middle,

 

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Shaun Malligan: so that the the ingredients were separate until you opened up the bag, and then that that that that separating wall would open up as well. So when you are opening and enjoying the snack, all of a sudden the ingredients would be allowed to mix together.

 

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Shaun Malligan: Um, allowing you to enjoy it at the right time, and still having good quality ingredients inside, not soggy nuts and dry jerking. So that’s so. We came up with that. And then yeah, and and it was, I think people not only enjoyed the function of the package, and that it let the product be good quality, but they also enjoyed the experience

 

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Shaun Malligan: of the packaging. They like healing it apart and mixing it together. So that was. That’s something we’ve done. We We ended up long story short, but

 

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Shaun Malligan: we ended up stepping away from that product in the Us because one of our big competitors was ended up. Being bought, they copied the product, and then they were bought by General Mills,

 

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Shaun Malligan: which was a big American food company like a billion dollar food company, and then we were found it very hard to compete because they were putting the product everywhere, and we had a patent that was pending, and there was a lot of legal issues. So we were like. It’s just too hard.

 

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Shaun Malligan: In Australia. We Haven’t launched that product because the markets still. Well, the market might be now, but when we started here we thought the market was too immature,

 

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Shaun Malligan: so there, there, wasn’t like the market wasn’t ready for something so specific like the American market, because the meat snacks market in the Us. Is is like a three, four billion dollars market. So there’s a lot of size there in Australia it’s much smaller.

 

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Shaun Malligan: So instead in Australia, we just decided to launch a natural beef jerky because in Australia there wasn’t any other things like that when we started here.

 

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Yanzhang Feng(John): Yeah, I think I think the initial ideas of your products is range by and back to the time we choose your company as our research

 

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Shaun Malligan: object. Almost everyone would want to get a pack of Koe. Yeah, we are all trying to figure out. Where can I buy one. But basically that’s

 

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Shaun Malligan: um right. Um. So we are heading to a next question. So

 

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Yanzhang Feng(John): our third question is, Sometimes people always want to start with business, or they’ll always worry about good or bad things happen in the future. So for my only experience is there anything different? What you expected before, and what actually happened.

 

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Yanzhang Feng(John): Like

 

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Shaun Malligan: all the time, I think there’s yeah, you can never predict it. It’s a very,

 

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Shaun Malligan: I I think, from my experience having never done this before, and starting a business. It’s. Ah, it’s! Ah, it’s very much a roller coaster like there’s. There’s ups and downs. There’s things you don’t expect opportunities. You don’t expect, and and failures you don’t expect to. There’s just a constant

 

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Shaun Malligan: up and down, but you hope that

 

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Shaun Malligan: overall you keep on trending up. You persist and keep on moving, I think, like one example is when we launch our product in Australia, and we have a little factory in Tasmania, where we make our Jersey here,

 

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Shaun Malligan: and when we first started we were like, okay. This product is very much like a health focused product. We’re going to get into health stores, and we started doing that, and we started getting into health scores in Sydney and in Melbourne and Tasmania.

 

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Shaun Malligan: But out of the blue our first and our biggest opportunity came when one of the buyers or the people that choose to choose products in stores. They saw our product in Tasmania, and they were launching

 

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Shaun Malligan: a new. They were launching the new Dan Murphy store in Tasmania.

 

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Shaun Malligan: So Dan Murphy’s, if you don’t know, is like one of the biggest liquor stores in Australia.

 

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Shaun Malligan: They sell beer and wine and everything. Anyway, they really liked our jerky, and thought it would be a good fit for their store. We had never considered our product being in a liquor store. But Jerky is also a tasty snack with beer. So,

 

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Shaun Malligan: anyway, they were interested. We ended up supplying Dan Murphy’s and Launceston, and then that allowed us to then get into Dan Murphy stores around the country and straight away Dan Murphy’s became our biggest customer, by far,

 

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Shaun Malligan: and we had never thought we were going to be ever in a liquor store or bottle shop. But that’s just what happened, and I think it still worked. It wasn’t the perfect fit for our brand. But it was obviously something that gave us a huge opportunity and huge growth.

 

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Shaun Malligan: And yeah, and and that was that was that was one opportunity. But yeah, I think in terms of

 

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Shaun Malligan: just generally like, Yeah, there’s lots of lots of things I think you can plan really well, but you just don’t know what’s going to happen in the future.

 

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Yanzhang Feng(John): Yeah.

 

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Shaun Malligan: So um, for further discussion. Is there any useful, pointless considerations for entrepreneurship from your perspective.

 

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A any useful point. Um,

 

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Shaun Malligan: I think. Um, if I was to do it again, I think

 

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Shaun Malligan: a lot of entrepreneurs start with something that they, I think you have to have passion with what you’re doing. So I think that’s that’s a given. But I think if I was doing it again, I would be more rigorous and ruthless. With what product

 

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Shaun Malligan: I want to start with like in food, for instance, this was sort of we sort of did that with this product. But I think

 

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Shaun Malligan: I would want to see. Okay, Where? Where is there no innovation in the supermarket?

 

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Shaun Malligan: We which category in the supermarket has been really slow and not changed in twenty years. Okay, that was sort of the case with Jerky

 

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Shaun Malligan: Um number two. If we launched a product there? Can we? Can we win and be the best product in that category? And I think for us we have done that, but also it’s been challenging in terms of. We’re still up against these big

 

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Shaun Malligan: companies, which have a lot more resources than us, and so their their marketing budget, and everything is more than us. So that’s one thing I’ve learned. It’s really hard to compete against these big companies like, So

 

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Shaun Malligan: it’s Yeah. So. And then I think One of the other point is is like

 

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Shaun Malligan: you want to. You don’t want to really do this alone. I think it’s it’s good to have a co-founder or someone else invested in you, because as much as it’s a business journey. It’s also a very much a personal journey.

 

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Shaun Malligan: Um! And it’s like this product is a reflection, almost. It’s like a reflection of my own self. So you know you go up, you go down you, and it’s helpful to have someone there who you can share the winds and share the the heartbreak with,

 

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Shaun Malligan: because it’s a it’s just a I think it it makes you

 

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Shaun Malligan: i’m more resilient,

 

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Shaun Malligan: um, but also having someone there. That also has a different level of skill to you like having someone into business that can challenge your ideas, but also that you get on with really well, and you can trust is also, I think, really important.

 

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Shaun Malligan: So yeah, I think, having good people having passion, having a real thought out plan, and and then having just persistence like

 

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Shaun Malligan: as well. And one other thing, I think, is, when you start a business,

 

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Shaun Malligan: how are you going to pay for your life. I think a lot of people forget if you have to have some income coming in to support your to survive right and to potentially fund the business. So if you’re all going to one,

 

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Shaun Malligan: invest full into the business, which is what might it might need, It’s so hard to run a business part time. Then how you do? You have savings? How are you going to fund that business and fund your life to be able to survive, because it’s not going to be three months. It’s going to be six. It’s not going to be six months. It’s going to be inevitably

 

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Shaun Malligan: longer

 

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Shaun Malligan: to start it, and to get to that level where you think it’s a success. Then you anticipate. When I first started I was like, Aha! I’ll quickly make some beef jerky, and in three months i’ll begin selling it, and in six months i’ll be in supermarkets, and it didn’t work out like that. It just took so much longer to even start.

 

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Shaun Malligan: So that’s what I would just also be conscious of that.

 

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Shaun Malligan: Yeah, um. So our last question for our business part. What is your plan for Kui’s future development? And where do you see, Queen? In five or ten years in

 

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Shaun Malligan: well, where we’re at now? I think we have a few things planned for ourselves. Firstly, we’d like to continue growing domestically for our brand.

 

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Shaun Malligan: That means in more different sales, channels, and more different stores, so we’re like in only three hundred and forty coal stores. We’d like to be in every cold store we’re in currently in all stores in Victoria. But we’d like to be in stores in New South Wales, so we’d like to grow that

 

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Shaun Malligan: we’d also like to continue launching new products. So we’ve launched our jerky. We’ve launched our snack sticks, which have been very, very popular, especially amongst kids. And now we’re looking at. What else could we do in that space, and we think more products in kids

 

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Shaun Malligan: would be something that there’s an opportunity, for. For instance, like i’m a parent of three young kids, and

 

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Shaun Malligan: you have to always make their lunchbox in the morning and find snacks when you pick them up. And so much of the snacks are not very nutritious, and they’re not really good for them. So to be able to provide better options and for busy parents is something that i’d really like to do.

 

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Shaun Malligan: We also looking at export. So that’s something that we’re we’re looking at doing now. We haven’t been able to do that yet, because we need a special license to do that, and our factory is just too small to be able to get that license. So we’re looking at working with other manufacturing partners

 

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Shaun Malligan: that we already have a license that we could make our product. And then, because we’ve had interest from like Japan and South Korea and Vietnam, so it’ll be about trying to grow that because Australia, even at the best case, Australia is still a small market compared to the rest of the world.

 

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Shaun Malligan: But Australian beef products, Australian natural products are well regarded overseas. So it’d be good to be able to take advantage of that.

 

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Shaun Malligan: And And yeah, we’re trying to within our company. We’re trying to also

 

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Shaun Malligan: focus more on e-commerce, because you

 

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Shaun Malligan: we we think there’s a a big opportunity there in australia for growing that channel, and we’ve never really invested that much in it. But we already get good traction. So we think we can do more. And and also it’s so much more profitable selling a pack online

 

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Shaun Malligan: to a customer, then through a retailer or the distributor. The margins in food are so tight When you have to go through a distributor or a retailer, for instance,

 

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Shaun Malligan: with Woolworths when we sell our pack of jerky at six dollars. Woolworth’s, you know they’re taking. We’re selling to Woolworth at three dollars twenty, seven,

 

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Shaun Malligan: so they they’re taking almost half of that

 

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Shaun Malligan: cost as they margin.

 

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Shaun Malligan: So it becomes a real volume, game it.

 

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Shaun Malligan: But yeah, that’s yeah. We We want to do all of that. We want to grow our team, and we want to grow our brand and profile, and hopefully be like, regard it as the best healthy protein snacks brand in Australia.

 

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Shaun Malligan: Yeah, thank you. That will be pretty much questions for our first part, which is business related. And now Jenny is going to take over and ask you some questions about your personal election. Thank you.

 

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Jenny Jin: Not really personal life. I’m not going to get that day to like these kind of things.

 

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Yeah, it’s more of like experience. You want to shoot to like new entrepreneurs like more of that kind of thing.

 

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Jenny Jin: Yeah. So um, i’ll get you started because with a question. Um, because I heard you mentioned about like when you first you got entering the supermarket,

 

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Jenny Jin: and then do like. Is that a resource that you use, or you try to found like you used to have, or you found

 

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Shaun Malligan: in terms of like when we were getting into supermarkets.

 

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Shaun Malligan: Yeah, Um: Well,

 

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Shaun Malligan: with yeah, with soup like we supermarkets. I mean, there’s only two big supermarket chains in Australia really wool worse and coals. So to be successful as a food product

 

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Shaun Malligan: in Australia you pretty much have to work with both of them, because together they account for like eighty or eighty five percent of of grocery spend in Australia.

 

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Shaun Malligan: Um. And and yeah, they They’ve been the in terms of the um like working with both of those parties. They they’ve been like pretty helpful, like. What worse I find is is more helpful to small businesses.

 

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Shaun Malligan: Then then our experience with Coles and I think we’re worse, more

 

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Shaun Malligan: keen to have a longer-term vision into what? So, for instance, in our category, and in the jerky category,

 

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Shaun Malligan: Jerky has always been a traditional very blue-collar math male dominated snack. But it

 

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Shaun Malligan: what wolves have been able to see is Well, it’s not It’s not going to always stay like that. They’re gonna It’s gonna change. And so they’ve been able to invest in our brand and see that. Look, the category is changing. More people are coming into it, and different people coming into it. So let’s take.

 

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Shaun Malligan: Let’s take on a small brand like this and see where the category grows.

 

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Shaun Malligan: But, yeah, they’ve been helpful. They share information with us. They try and support us with local events and everything.

 

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Shaun Malligan: But yeah, at the end of the day you

 

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Shaun Malligan: they’re still running a business, so they they they also can be ruthless.

 

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Shaun Malligan: At the end of the day. The most important thing for any food product in grocery the most important metric is

 

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Shaun Malligan: sales velocity, or what they call units per store per week.

 

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Shaun Malligan: So basically you need to hit a certain number to make sure you’re going to keep that space on the shelf. So

 

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Jenny Jin: it’s

 

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Shaun Malligan: because at the end of day, in grocery or any supermarket, it’s really a real estate game.

 

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Shaun Malligan: They only have a certain amount of space in their store. So what products should they choose? And does that product in the store justify being there

 

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Shaun Malligan: awesome? So, um! Have you used any other resources when you start up this code like, yeah resources, was

 

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Shaun Malligan: we? You know. I I think, the um

 

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Shaun Malligan: to be honest, the thing that got me motivated to start the business was listening to

 

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Shaun Malligan: like twelve years ago now listening to a successful food entrepreneur in the Us. Talk at an event

 

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Shaun Malligan: it really like inspired me like you like it like, and like nothing else had like I was like,

 

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Shaun Malligan: i’m not really that passionate about doing what i’m doing at Ernest and young I’m not that passionate about that field. But this is something that seems so exciting, and I didn’t even know that was a career opportunity.

 

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Shaun Malligan: So that was the that was the spark, I think. And then, in terms of resources, we were able to leverage,

 

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Shaun Malligan: and, like where my wife was studying. They had an entrepreneurship program. So we did that we were able to leverage local. In Tasmania. There was local small business groups that we leveraged. We were also part of the farmers market,

 

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Shaun Malligan: so that was good to have a community of people that support each other. And then we went to trade shows, and we met other entrepreneurs

 

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Shaun Malligan: doing food things that we could. That was super useful, because really we had no idea what we were doing. We needed to talk to other people that were a little bit ahead of us to understand. Okay, how do we actually even deal with worse and roles? How do we price it? What are the regulatory requirements?

 

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Shaun Malligan: How do you go to? How do you pitch your product at a supermarket? So, having that network of people, I think, is really important that you can call on and say, Hey, I’ve got a question about this.

 

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Shaun Malligan: How would you? How have you dealt with this before,

 

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Shaun Malligan: and then we’ve also been a part of the different, like incubators like we were a part of a food incubator with Chibani, the yoghurt brand, and then we were recently a part of

 

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Shaun Malligan: accelerator program, with food to farmers to founders that support, and those were also good because they provide a mix of formal learning that you don’t really get anywhere else, but also a mix of

 

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Shaun Malligan: like informal learning with advisors and people in the industry that can help you with with your journey.

 

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Shaun Malligan: Yeah, that’s yeah. The connection like really matters like it matters so much. So like, while you’re doing these like having connections. And then you have mentioned that you listen to these successful like food entrepreneurs like, Do you have like a special like role model like that? You personally like like

 

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Shaun Malligan: um.

 

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Shaun Malligan: I think from our experience there I wouldn’t. I mean someone that I really admire is the current

 

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Shaun Malligan: um ceo of Chibani in Australia. Lynn Radford. She is a real trailblazer, but they basically started the Gibbani business here with nothing, and then it’s now a super successful business in in Australia.

 

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Shaun Malligan: There’s also Who else?

 

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This

 

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Shaun Malligan: I I think there is like

 

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Shaun Malligan: like other peers of mine, that we’ve we’ve sort of been doing this together that I’ve seen them really achieve success like

 

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Shaun Malligan: both here in Australia, but also in the Us. There. There’s examples of like people like um name John Sebastiani in our industry in the us. That’s like a cereal entrepreneur and food. There’s what’s his name?

 

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Shaun Malligan: The The founder of a great example. If you’re interested in food brands is the founder of hit piece in the Us. It’s it’s it’s it’s It’s started by a guy called

 

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Shaun Malligan: Um. This is the first name um livia Bisturzo. This is Italian, English guy. And but yeah, they They’ve just created beautiful brands. They had a lot of meaning that were able to scale up really quickly. And so I really admire

 

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Shaun Malligan: those people that had that vision at the start, but also had identified a clear opportunity with with their product.

 

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Shaun Malligan: But yes, I think there’s a lot of cool examples there. But I think the hardest thing.

 

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Shaun Malligan: Yeah. And and the most useful thing is to develop that network because there’s no you can’t just a lot of these questions. You just can’t. Google or search online. There’s no there’s no like catalog or or step-by-step process of how to do it you sort of have to talk to other people to find out that

 

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Shaun Malligan: yeah, like you always need a friend.

 

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Jenny Jin: Yeah,

 

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Jenny Jin: Yeah. Basically So um,

 

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Jenny Jin: yes. Cause um. Also previously I have heard that, like sorry I’m jumping a little bit away from that part like um i’ve previously heard you talk about like co-founder is like really important. So um! So do you think? Is there any like things that like how you divide your job, or like? Is there anything that we need to

 

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Shaun Malligan: like, especially look for when we are having a co-founder working with a co-founder.

 

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Shaun Malligan: I think number one is do you. Trust this person like you know. And also do you guys get on? Well, you don’t have to be best friends. But you You should be able to get on well and be happy to like, see each other and talk to each other every day.

 

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Shaun Malligan: It’s. It’s almost like a marriage, really,

 

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Shaun Malligan: in a way like in a way. You probably see that more than your partner, I think you also ideally. You want to have a separate like I mentioned before, a separate skill set.

 

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Shaun Malligan: So, for instance, in terms of our group of founders. Like,

 

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Shaun Malligan: was sort of the one passionate with the idea and and coming. I sort of

 

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Shaun Malligan: do the sales and the new product development stuff. Our one of our co-founders was more analytical, and you know more more

 

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Shaun Malligan: technical technical. Yeah, like you, And in terms of like looking at the manufacturing aspects and the product,

 

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Shaun Malligan: technical aspects and specs. And then there was other co-founders that were creatively minded. So they do all the packaging design and branding

 

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Shaun Malligan: um. So it was about having being able to be good friends with each other, but also having different skill sets, and and and being able to be able to say, Well, look, I don’t agree with this, and and have a discussion that actually sort of fine-tunes

 

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Shaun Malligan: your direction

 

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Shaun Malligan: without without blowing up

 

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Jenny Jin: yeah,

 

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Shaun Malligan: like different ways of like giving ideas. And then someone will hold you back if you have like crazy ideas. And I think it’s also like, and then you have those separate roles where, look, you can trust each other, you guys, You manage that, and then i’ll manage this side of the business, and you have to sort of work there that we have to achieve anything.

 

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Shaun Malligan: Um! And I think you know it it, and you have to be prepared that this is going to be a long-term partnership. So it’s not just something over the next year. It’s it’s going to be much longer than that, and so do you. Are you aligned with

 

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Shaun Malligan: the outcome that you want to, that you want in the business, for instance, a you, this one party just want to continue operating the business forever, and then pass it on to his kids or her kids.

 

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Shaun Malligan: Does one partner want to grow quickly and then sell the business for something like, So make sure that you also have the same

 

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Shaun Malligan: like, Um:

 

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Shaun Malligan: yeah, and go. Yeah,

 

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Jenny Jin: yeah, it’s interesting.

 

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Jenny Jin: Yeah, Because never thought about like having

 

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Jenny Jin: not really, never thought about. But it is good. I have like different diverse people like around you, and then they will give you like really good new ideas.

 

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Shaun Malligan: Do you have any like general like suggestion to our like young entrepreneurs like experience? Life?

 

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Yeah,

 

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Shaun Malligan: yeah, I mean, everyone everyone goes their own path. Some people will say, Look, it’s great to to go get a normal job and work at that job. Learn some skills and learn how to work with people, and then,

 

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Shaun Malligan: like Don’t, rush into becoming an entrepreneur. Wait till you have some more experience. Other people will say

 

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Shaun Malligan: the best time to do it is before. You have too many other commitments, because you can work really hard and you like The downside of failing is still minimal. You can go get another job. When you’re young you’re not committed to anything like,

 

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Shaun Malligan: you know you can start again. You still have time, and most entrepreneurs do have many companies that they start and fail like with. And and you’ve got to be prepared that most companies that are started by people end up failing whether it’s in the first six months, first twelve months, or beyond one hundred

 

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Shaun Malligan: Um.

 

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Shaun Malligan: But but yeah, I think it’s It’s it’s it’s it’s sort of an individual thing like,

 

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Shaun Malligan: you know if you have something that you’re really passionate about, and it’s a really good idea.

 

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Shaun Malligan: Um! My advice would be to to

 

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Shaun Malligan: see if it has legs like, see? Talk to other people about it like really

 

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Shaun Malligan: like

 

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Shaun Malligan: I don’t don’t like you might have. You might think you have a good idea. But and your and your mom might like it, and your family might like it. But what about what about this person over here? Would they eat it, or would they use it like you got a challenge and see,

 

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Shaun Malligan: Would the would other people actually buy this service or buy this good, and do they value it as well, because sometimes it’s hard to separate like I’ve talked to others entrepreneurs that are starting out, and they they want to be an entrepreneur. They really like the the type of breakfast cereal that they make.

 

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Shaun Malligan: But is that going to be? Is that going to be enough to be successful Like It’s something about having an idea that you like, But it’s another thing. Having an idea that other people want to buy one,

 

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Shaun Malligan: So does that come into your like when you start your brand like, Is there any like struggle that like Oh, I really like this idea of a someone be like, Oh, but it’s not gonna work out like for selling

 

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Yeah, for sure, like I think

 

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Shaun Malligan: Um, I think

 

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Shaun Malligan: I think, looking back on on my journey, I think

 

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Shaun Malligan: like, for instance, a joke at Trump, which was a good idea in the Us. But it was probably looking back on it, always going to have a limited scope in terms of how big it could ever be.

 

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Shaun Malligan: Um

 

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Shaun Malligan: on the flip side. I think I think what we have developed now with Kui is broad enough to make an impact and to be a bigger thing than just a small cottage brand.

 

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Shaun Malligan: But yeah, I think it’s it’s hard because it’s sort of like. Well, I would do so many things different. If I was to start this again, I would have a better plan. I have the experience. I know where to go. Who to ask what to do?

 

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Shaun Malligan: That’s sort of part of being an entrepreneur you you have, you? You don’t know, and you have to figure it out you,

 

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Shaun Malligan: and often some of their best People’s best ideas happen once they have been working in a space, and they identify that there’s an opportunity in something that most people overlook, because, you know, if you’re closer to it, you understand the ins and outs of it.

 

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Shaun Malligan: But yeah, I mean, you know a lot of people

 

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Shaun Malligan: sort of just fall in, fall into it. They just. I don’t think there’s ever a perfect time to start. It’s never going to be perfect, because you always have a commitment. You might have a job you might have,

 

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Shaun Malligan: you know, family commitments or so forth, but it’s It’s like It’s hard to know when to press the button and give it a shot.

 

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Shaun Malligan: Um, but yeah, talking to as many people about it, or talking to advisors, trying to speak to mentors and advisors, and getting their blunt advice is probably

 

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Shaun Malligan: the cheapest way to test out whether your idea is going to be successful rather than spending a lot of money and giving it a go and no one coming.

 

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Yeah, definitely. So that leads to a really tricky question. I want to ask, How do you balance your work?

 

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Shaun Malligan: Yeah, no, it’s that’s that’s a huge one. And yeah,

 

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Shaun Malligan: I don’t feel like i’m very balanced right now, like I’m just stretched man, I mean for me.

 

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Shaun Malligan: You know family always has to come first, and I’ve got three young kids, and you know when they’re crying or when they need food. I have to

 

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Shaun Malligan: put everything down and and deal with them, because my wife works full time, too, at another startup. So like we’re both. We both are stretched. But I think since having kids compared to my life before kids working in Kuwait,

 

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Shaun Malligan: I think i’m way more effective and efficient

 

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Shaun Malligan: because I have to be, I think, before having kids, I would, you know, maybe be less efficient. But I would think Ah, you know I can work every night, and there was no balance, and I think there’s a risk of burnout and just not being effective in what you’re doing.

 

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Shaun Malligan: So I think having effect like, and and the family, you know they’re the best thing because they like will balance you like whenever you you know. Whenever you pick up your kids, they’re still going to smile and love you like it just a break to your life. So I think that gives me an advantage to have that

 

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Shaun Malligan: that have those people around me versus if I was just doing it by myself, and being by myself a lot of the time, and I think

 

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Shaun Malligan: it’s just it’s A. It’s a lonely world like I work by myself work at homework at co-working spaces and so forth, and because because the rest of the team’s down in Tasmania, and you know it’s a very. It’s a very different experience than working in an office full of people.

 

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Shaun Malligan: So you work from home, from home I work from, and because our all of our operations are down in Tazi. But I live in Sydney.

 

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Shaun Malligan: Oh, interesting! So is it like, really different from? Because I think you used to work like face two phase. And then suddenly you got this start start out, and then you have to work online. Is it like a big challenge? Well, now, it’s easier with, you know, slack and and everything but um!

 

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Shaun Malligan: It is still a challenge like you can’t be there to create that face-to-face interaction which is really important, but it also allows us to be more flexible with our with our work, and and it’s been really important that I am in in Sydney, where a lot of our customers are.

 

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Shaun Malligan: So there’s there’s pros and cons for sure.

 

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Shaun Malligan: But yeah, it’s It’s different, because, like you know, you’re you’re the master of your own work, and what you want to do that day. So you have to be modified

 

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Shaun Malligan: here. What you want to do. I mean, no one’s checking it, Right? Yes, yes, you have to create your work.

 

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Jenny Jin: Yeah, yeah, that’s And then you need to be one hundred percent focus. And then you don’t have the atmosphere, and then you sometimes be like, Oh, do I need to do that with this?

 

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Shaun Malligan: Yeah, I think I mean, I think I I always used to get frustrated when I used to work in the office because people would always be talking. I’m like, How am I going to concentrate? But now I see the other side. I’m like I wish there was people to chat with, but I find i’m a lot more focused and efficient.

 

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Shaun Malligan: Yeah, like we need some office gossip like always.

 

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Jenny Jin: Yeah, Okay. Sorry. Um. So we were just wrapping up all these. And then for one last question.

 

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Jenny Jin: Do you have a suggestion on a habit that always like that? You do? That will keep on inspiring you.

 

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Shaun Malligan: Um, I think

 

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Shaun Malligan: there are probably two first thing is personally for me. This is a massive thing. Exercise like doing some portion of exercise every day. Not only

 

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Shaun Malligan: it’s sort of brand-related, I guess, but it’s just key for your physical health mental health, like having that time just where I just go for a run or do some exercise.

 

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Shaun Malligan: I don’t even listen to music anything I just want to piece out. It’s sort of like my own meditation, and just to step away. I find if I don’t, i’m way less productive.

 

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Shaun Malligan: So I find that that’s really important for me to feel good and be efficient to that day to get some exercise in, and the second, I think, is, I do still find it’s important to

 

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Shaun Malligan: talk to other people, and and like I. I was talking before networking and understanding their journeys, and being interested in in how they’ve got there; and I find not only keeping in contact with other people that I’ve met along the way and finding how they’re going, but also just it’s it’s, you know It’s like

 

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Shaun Malligan: a substitute for the office gossip. It’s like It’s just a way to talk to people that um that have shared a similar journey because it’s a very lonely and unique journey, like not many people do this. So they have people that know the experience and know the wins and the failures is is something that

 

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Shaun Malligan: is really helpful.

 

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Yeah. And um,

 

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Shaun Malligan: yeah, And I guess the other would be just. Yeah. My family helps keep me grounded and and and and keeps me real like it’s, you know it’s It’s gonna be okay, sort of thing. But support from family is like really important. It’s like you feel like you can do this.

 

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Shaun Malligan: Yeah, because yeah, I mean, I didn’t die. They’re the ones that back you and and for me personally like this means nothing to the successful failure of my business. But the fact that my kids

 

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Shaun Malligan: ah, real big, our biggest fans for our snacks, and they like It is a big thing for me, like if I hated it. If if we test or something and make a new.

 

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Shaun Malligan: They try it. Spit it out. They’ll tell me if it’s bad or not. But fortunately they’re big fans, So I think that’s another thing from a person.

 

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Jenny Jin: Yeah, that’s really cute. Yeah.

 

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Jenny Jin: Yeah, I suppose that that is so cute. Yeah, I think I think we got mostly everything run through, and that really quick time on their time.

 

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Yeah.

 

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Shaun Malligan: Great. Thank you.

 

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Jenny Jin: Yeah. So um additional like my personal Christian, because i’m like in New Zealand like, so it’s like next door. Do you guys sell any retail here?

 

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Shaun Malligan: We’re looking at it. Actually, we’re talking to distributed New Zealand. So maybe give us three to six months and we’ll be in New Zealand.

 

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Shaun Malligan: Yeah, Yeah, Probably I’ll be the first one out of everyone to you. Can be our local ambassador.

 

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Shaun Malligan: Yeah, that’d be awesome. No, Thank you.

 

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Jenny Jin: Yes,

 

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Jenny Jin: yeah, I think I think that’s I think that’s all for us today. And then yeah, we haven’t really introduced like all our members for you. We will do it like it should be ahead, but we’ll do it after um, so we will have um. We have Bill like to full. And then we can say, hi to you,

 

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Shaun Malligan: I think, Yeah,

 

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Shaun Malligan: Okay. So we want to help. Okay, And then we have two. Sh: she’s the one who’s sending you emails and everything. I Yeah. So finally meeting each other in person, and

 

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Ginny Huang: we have Ginny like Jenny, like Jenny Jenny.

 

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Ginny Huang: Yeah, it’s it’s always confused. But yeah, I’m, Jimmy.

 

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Ginny Huang: Ah, thank you.

 

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Ginny Huang: Thank you so much.

 

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Jenny Jin: Yeah. And then we have lastly on Corny,

 

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Jenny Jin: Connie and Coyne.

 

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Shaun Malligan: I’m sure

 

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Connie (Zixuan) Ding: thank you bridge half today. It’s very

 

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Shaun Malligan: and nice to meet you. You, too. Thank you for listening. Well, yeah, So let’s say, thank you so much. And then we won’t be taking any of your time over our Fridays.

 

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Shaun Malligan: Yeah, it’s Friday night, Everyone

 

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Shaun Malligan: that’s awesome. And please keep me up that if any of you guys ever end up starting a business in food or whatever feel free to reach out, because,

 

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Shaun Malligan: you know, people have supported us along the way, and they’d love to repay the favor and help out people starting their own business. It’s it’s It’s really. It’s really great to see when you know cool ideas come out, and you know, if I can help in any way that might be habit.

 

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Jenny Jin: Yeah, definitely. Thank you so much for your time, and then probably we will. Later on we will contact you if we are up to anything we’re updating.

 

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Shaun Malligan: Right? All right. Most of them enjoy your Friday. See, you guys?

 

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Shaun Malligan: Yeah. And

 

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Jenny Jin: oh, how are you so? What are you recording.

 

 

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