CD Corp explain how Business Gateway played a key role in their NFT success
Register for free to read more of the latest local news. It's easy and will only take a moment.
Sponsored Editorial
For many people in Scotland, the last two years have signified a change in personal and professional circumstances and habits, whether it’s working from home, taking on a new career, or considering how they can monetise a lockdown hobby or passion project.
As a result, many are thinking about starting a new business. But, while the desire to get started is high, many people simply don’t know where to begin. Scotland, fortunately, boasts a strong network of business support organisations, including Business Gateway, where everyone can access free, impartial advice and guidance.
Starting a business in a post-pandemic world can be daunting, especially amid the surging cost-of-living and energy crisis, and the continued challenges faced by the pandemic. However, these periods of uncertainty can also offer an advantage and the opportunity to put in place more flexible and innovative solutions that appeal to customers and potential stakeholders, standing apart from competitors and building success in the long term.
For potential start-ups across Scotland, factors such as market positioning, start-up costs, funding, and investment will be critical.
By working with Business Gateway, you can build knowledge and skills to successfully understand consumer demographics and launch to the market with confidence. With access to market research, start-ups can reach customers to gauge interest, and confidently design effective promotional activities, whilst effectively tracking the success with analytics.
Understanding your price point can also be vital, and through support from Business Gateway, start-ups can access specialist advice on cost strategies and setting the right budget.
Some tips include researching the competitor landscape to consider your position, remembering to include your own time as well as the costs of raw materials, or considering your launch price and whether an offer might drive sales and repeat custom.
The service also provides networking opportunities, helping new entrants to build communities of like-minded people, consider shared challenges and shape their future goals.
Ryan Aitken, Founder of CD Corp, Scotland’s first whisky-focused non-fungible token (NFT) start-up, first approached Business Gateway on behalf of his team, to seek advice on getting their unique business started in March 2021.
Through the expertise and guidance of the Business Gateway team, CD Corp’s directors revised their funding strategy and discovered the potential to self-fund the business, which enabled them to move forwards at pace with 100% ownership free of debt.
Ryan said:
“Working with Business Gateway early on in our journey helped us realise that we didn’t have to rely on other sources for funding. Their clear direction and advice encouraged us to seize the opportunity in front of us and pursue our consultancy-based business model. This decision will help us in achieving our growth milestones faster than previously expected.”
Joseph McGraw, Digital Design Director, CD Corp said: “Our experience with the Business Gateway services has been brilliant. Our adviser, Gordon, has supported us every step of the way, and now that we have fully diversified into officially offering consultancy services, we are in a strong position to continue growing our business exponentially in 2022 and beyond.”
John MacGillivray, Adviser, Business Gateway said: “Ryan’s passion for technology and an innovative economy is inspiring. We were able to support and guide CD Corp from its conception through a range of Business Gateway’s Growth Business Services, which have been key to the acceleration of the business.
No matter what stage people are at with their business idea or their background, Business Gateway is here to provide advice and will take aspiring business owners through the practical steps to starting up a new business.
If you are unsure how to get going, our Planning to Start Tool is a great place to start, we will be on hand to help you identify the type of support you may need.
Regardless of your current situation, what level of experience you have or which sector you would like to move into, there is support available from specialists at Scotland’s business support organisations. Business Gateway’s experienced advisers help ensure start-ups begin in the strongest position for success, no matter how far along they are in developing their business idea.
Business Gateway’s Planning To Start Tool only takes 10 minutes to fill out, answering a few short questions about your business idea. After this, it offers access to an instant start-up toolkit, before connecting users with a local Business Gateway office that will help create a tailored plan. This invaluable resource provides instant support to help anyone looking to launch their own business.
Begin with Business Gateway’s Planning to Start Tool to jumpstart your business.
