I’ve been talking to a number of entrepreneurs recently about how they have pivoted or adopted a ‘plan b’ during these challenging times.
This is my chat with Peter Kelly, the founder of Imployable.
In 2015 Peter Kelly left the Royal Marines after 10 years of dedicated service. After gaining industry qualifications in Project Management through the military he believed that he’d got a passport to a job in the civilian world; Then reality hit.
Within 3 months of leaving he was unemployed. Highly qualified, inexperienced and unemployable. This was a situation that Peter wasn’t expecting and it showed him just how vulnerable people can be when faced with major career transitions.
During a 9-month period of unemployment Peter reconnected with an old Royal Marine friend, Kieron Yeoman. Kieron was running a business that actively coached and supported people into work and helped the ‘unemployable’ into meaningful employment.
When the pandemic hit Peter says that ’employers naturally stopped spending’. Knowing and concerned about the length of their runway, Peter approached existing shareholders (300 of them) and asked them to reinvest, which they did. They then looked at their model and examined what spending habits might be post-pandemic. Pre-pandemic they existed in an employees market where there were more jobs than active job seekers. With that likely flipped, this is story of how they’ve adapted their monetisation strategy whilst ensuring that they can deliver more to their users.
At the Great British Entrepreneur Awards & Community we have launched a new category to recognise brilliant entrepreneurs like Peter who have adapted during this crisis. If you know an entrepreneur who has pivoted, send them here.
The Great British Entrepreneur Awards & community is proud to be supported by Funding Options on this initiative.