The serial entrepreneur
Rachel Bell, Entrepreneur Mentor in Residence, President of the E-100 Club, investor, mentor and founder of business growth consultancy Brand Spanking
“You get to a stage in your professional life when you’ve achieved most of what you wanted to do, and you have time to give something back. Entering into a relationship with LBS has been fascinating. I don’t have an MBA, but I’ve started and sold a number of businesses, so I bring practical experience. I know how to make deals happen, how to get businesses moving and how to get teams to new levels to expand and grow.
Meeting students at the start of their entrepreneurship journey is super-enjoyable: I get them to think about what their business edge might be, the pricing, how it’s going to run. We walk through potential flaws: have you got all the roles you need? What will the customer be doing? What behaviour do you need them to adopt in order to switch to your product? I give advice about share ownership, where the long-term value is, who needs to be kept on the inside of the tent.
Like all the investors in the E-100, I love the raw, palpable excitement around getting a business going – the energy and momentum you need at the start, that fearless feeling of conquering the world. The Enterprise 100 is fantastic for angel investors, because what ends up in the room is screened and high-calibre.
We catch up monthly about different facets of investment. For anyone who’s a CEO or has exited a business, it’s a great place to talk. The angel investment fund comes with risk – you’re deploying your own sense and knowledge, putting your own bets on the people you want to back. It’s super-rewarding and you’re giving people that chance you once had yourself to get their business out of the blocks.”
Thinking outside the lunchbox
Caroline Williams MBA2021, co-founder and CEO, Junee
“I’m American and I moved to London for LBS. To come here and experience the entrepreneurship ecosystem has been a real treat. Being exposed to actual entrepreneurs demystified them. They weren’t all eccentric characters like Elon Musk – they were people who were passionate about an idea.
The tipping point for me came six months into my programme. I’d been thinking of Junee as a side project, but Covid brought a lot of self-reflection on what I wanted out of my life and my career. I realised how exciting it was to be working on an idea I was passionate about – what if, instead of single-use, throwaway lunchboxes, we could provide a sustainable alternative? I became more and more confident.
Joining forces with my co-founder Mary Liu, also an LBS MBA2021, made it more real and motivating. In our second year we explored the idea through various LBS programmes like Launchpad. We also joined the Alpha Accelerator, outside LBS, which immersed us further in London’s startup ecosystem and helped us transition from students to full-time founders.
Thanks to endless pitch practice through these programmes and connectors we met along the way, we have just closed our pre-seed financing round of £250k. Entrepreneurship can be intimidating – you’re graduating with a depleted bank account and loans – so the idea of leaping into something that is statistically likely to fail is daunting.
I’d love to see a lot more student entrepreneurs come out of LBS, and support for them in terms of getting funding will go a long way. Anything that can help bridge the gap between entrepreneurship and access to funds is a great development.”
A cleaner way to cleanse
LBS alumni Giorgia Granata MBA2018 and Eli Khrapko MBA2018 founded Wype as an alternative to the hundreds of millions of wet wipes that end up in the oceans every year
“Our gel is 99% natural, biodegradable and plastic-free, which means it reduces the huge environmental problems we face from people flushing wet wipes,” says Granata, former Head of Product Development at Versace Jeans Apparel. Khrapko, a former officer with the Royal New Zealand Air Force and an aeronautical engineering graduate of the University of NSW, explains that around 80% of marine litter starts on land and rivers and wet-wipe “reefs” help transport non-biodegradable debris out to sea. Less than a year into their venture, with their award-winning company already turning over £230,000, the founders are branching out internationally, growing their community of supporters and customers, prototyping designs, expanding their product line and engaging in a crowdfunding campaign on Indiegogo. “Eli’s a glass-half-full kind of person, while I am more cautious in my approach,” says Granata. She admits that, before LBS, she was daunted by the nuts and bolts of the business world. “I’d never have dreamed that I would be able to talk about business affairs with the confidence that I have today,” she says. They are thankful to Jane Khedair, Director of the Institute of Entrepreneurship and Private Capital, for her advice and support. In addition, it was invaluable being part of a network of frontrunners; business entrepreneurs who had gone before them and were making a success of their ventures. “Seeing other successful entrepreneurs provides a boost to your confidence,” says Khrapko.