Interview with Michelle Potts, co-founder of The Potts’ Partnership
Find out what inspired Michelle Potts to create Potts Partnership, an award-winning business that produces restaurant quality stocks, gravies, dressings, cooking sauces and more.
What is the thinking Behind Potts Partnership?
Established back in 2007, Potts is an award-winning, family-owned business that has carved out an enviable niche as a pioneering force within chef-prepped, restaurant quality stocks, gravies, dressings, cooking sauces and coulis.
The Wiltshire-based business has full, in-house production for its entire range, with meticulous production values, ingredient integrity and a steady stream of World Cuisine inspired product innovation sitting front and centre of this business’s flourishing reputation.
When did you realise you were onto something special?
Using 100% recyclable aluminium drinking cans was a watershed moment for our business, as we reimagined what impeccable flavours, convenient cooking formats and a generous dash of sustainability could look like.
When it came to our cooking sauces, we saw cans as the perfect canvas to champion vibrant ‘kitchen couture’ designs that underpinned our commitment to showcasing ambient, ‘larder essentials’ in an altogether more enticing and engaging light.
We now sell 3m over 10m cans annually that saves the planet 10+ tonnes of unwelcome, single-use plastic.
What’s your career background?
Having studied a degree in biotech (focusing on genetics), I taught human biology for a year at the American school in Jakarta International School (Indonesia). From there I spent the next year as a medical rep (soul destroying job), albeit this thankless job provided me with regular access to great people and generous perks.
At this point I had to take a year’s work sabbatical after being assaulted in the Philippines; an unprompted attack that left my face scarred. This timeout marked the arrival of our 1st daughter, who came into our lives at the perfect moment.
My next career adventure saw me qualified as a science teacher, teaching Ks3 and Biology in Berkshire (cue 2nd daughter), before finally setting up Potts’ with my husband Owen, taking on a variety of roles including sales, finance and HR.
What obstacles have you had to overcome?
As with most ‘hungry to grow’ businesses, cashflow has been challenging at times. Often, it’s assumed that cashflow issues are at their most uncomfortable during those ‘treading waters’ moments when you’re waiting for a new listing to drop, funding a long overdue overhaul of the online shop, or waiting for recently launched new products to find their feet in store.
In truth, cashflow discomfort often comes from managing exponential growth. Often the consumer appetite is there, retail interest has piqued and yet there simply aren’t enough spare funds to back every initiative, which is tricky when tough choices have to be made.
Talking to many of our entrepreneurial friends and peers, I would say money is one of the most difficult aspects of growing a company and ultimately a lack of capital is the No.1 reason many aspiring enterprises exit the game.
What’s your proudest moment to date?
Might sound a tad clichéd but it’s unquestionably that Owen and I built Potts’ from nothing in our house to a business that provides a daily income for 50 wonderful people.
Also our ‘chaos packaging’ initiative, which saw us introduce 100% recyclable aluminium cans down the stocks, gravies and cooking sauce aisles remains an immense source of pride, a well-executed vision that was incidentally a global first, that has single-handedly generated more positive noise than we could possibly have imagined.
What advice would you share with aspiring entrepreneurs?
1) Do it for the love
You can weather a lot if you feel passionate about what you do and work with people whose company you enjoy and who inspire you. This is easy when you start but like all relationships you need to invest in your love of your business and work colleagues. Celebrate your successes together, spend time socialising, brainstorming ideas whilst discussing things that inspire you.
2) Trust your gut
There will be a lot of decisions! Heed other people’s advice and cover all bases, but follow your gut when it comes to making the key decisions.
3) Don’t Rush
Remember no decision needs to be made immediately. If someone is telling you it does and will not give you time to mull things over, say NO! I always make sure I have at least one sleep before making any big decisions and never make a decision before I have to. It is amazing how many things change over the course of a day.
4) Hang on to Equity
If you chose to give little away don’t do it lightly. If you give up equity you give up control and if you are not careful you can end up an employee without any rights but all the responsibility.
Find out more about Potts Partnership.
