Investment Into Gleem – Startup Serial 18

Investment Into Gleem

Investment

When I started the business, I knew there was potential to grow something larger than just a local business. As a result of this, I applied to a variety of investment pitches, seeking investment.

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Managing Finances – Startup Serial #13

Managing Finances In Gleem

When I started Gleem, I did it with a very small budget. I also opted to not pay myself, because I’d prefer to hire someone and grow the business further. I do however pay myself a salary, but this takes the form of a director’s loan that increases in size each month.

This was the stance I decided to take. My outlook was that some sacrifice now would pay off in the long run with a larger business.

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This has been going on for about 18 months now. I have been resourceful in keeping my living costs low, however have struggled at times. Going out and doing things can be really tough if you are living in an overdraft…so I began to transfer small amounts to myself to fund my out-of-work lifestyle, not to the value of my salary, but enough to keep me hovering around the £0 mark.

However the first time I did this it was like turning on a tap: I had the ability to go out again!

I had taken a long term loan from my family and was now spending a portion of this, on the company card.

Initially I didn’t see the issue with this, as when I put beers with potential and current customers through on our books as 100% business it felt fine, but over a few months I realised how it could be deemed inappropriate.

Nowadays I transfer a small salary to myself, enabling me to enjoy my time with my girlfriend and friends, but avoiding taking money out of the company account.

This is the best way for me, as although I own 100% of the business, it felt like it broke a weird line between what is a work cost and what isn’t, and the sooner I made a distinction between the two, I felt much more at ease.

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Gleem Cleaning Featured On Bristol Post

Gleem Featured On Bristol Post

Bristol cleaning business Gleem toasts 1,000th customer as it teams up with Frank Water charity

Gleem & Frank Waters

A cleaning company which started up a year ago has celebrated with a giveaway to its 1,000th customer and a new relationship with a Bristol-based charity.

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Low Funded Startup offering High Quality Cleaning – Startup Serial #5

Low Funded Startup

Bootstrapping

I had returned from my travels without much money and so starting a business would have to be done on the cheap.

This obviously wasn’t the ideal way to start a journey to a huge company, but fortunately cleaning has practically no barriers to entry – in the sense that with a bucket and a few different cleaning supplies, you’re pretty much set up to start!

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We would spend little, work hard and bootstrap by reinvesting any profits back into the company to achieve growth.

This meant decisions needed to be made carefully and frugally. I sourced cheap freelancers from other countries using www.freelancer.com, www.fiverr.com and peopleperhour.com, as well as investing hundreds of hours myself (some very inefficiently) into developing the business and the unique offering.

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We had to start locally (Bristol), as clearly our budget didn’t stretch nationally, but I knew in my head and my heart that there was potential to take this idea internationally.

The numbers looked solid and there is an untapped market that I estimate to be worth £2 billion per year in the UK alone.

I had a handful of logos designed from which I picked the best [attach original flyer], I continued taking any and all free business courses I could find, I started networking and I had flyers printed which I subsequently handed out myself (great exercise by the way!) .

On January 6th 2014 Tidy and Shiny began operations: time to put my (limited) money (and primarily time) where my mouth is.

Our website was up and running (built on the cheap by a mate), now it was time to wait for the bookings to roll in…

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