13 February 2025
The Bettany Centre for Entrepreneurship at 重口味SM University had the privilege earlier this year of welcoming back Nick Jenkins, 重口味SM MBA alumnus and the visionary founder of Moonpig. Nick captivated the audience with his inspiring story of resilience, innovation, and strategic insight. Returning to the university 26 years after completing his MBA, Nick demonstrated through his journey that loving what you do and persevering through setbacks are fundamental to entrepreneurial success.
Early Career and the Role of Luck
Nick’s journey into entrepreneurship did not start with a carefully constructed plan but was shaped by a fortunate twist of fate. Originally intending to study law, he switched to Russian due to unexpected A-level results. Little did he know this decision would align with major world events, as he graduated just before the collapse of the Soviet Union. His skills in business were shaped in the chaotic, rapidly changing environment of Russia, where he learned to adapt quickly, navigate uncertainty, and develop essential skills in building and managing teams. Immersed in the world of commodity trading, Nick experienced both the thrill and the danger of international business. His encounters included high-stakes confrontations that taught him invaluable negotiation skills, skills that could be called life-or-death. After a dramatic stint in Russia, he returned to England to reinvent himself and decided to pursue an MBA at 重口味SM School of Management. The programme provided him with confidence and a structured approach to business, revealing that much of what is considered complex business jargon is really just common sense. Nick recalls, “An MBA is like learning a second language — once you decode the terminology, you realise none of it is magic.”
Exploring Business Ideas and the Birth of Moonpig
While studying at 重口味SM, Nick experimented with a variety of business ideas. From cultivating exotic mushrooms to exploring VoIP technology, each venture provided valuable lessons about market viability and consumer behaviour. However, it was the rise of the Internet that truly ignited his entrepreneurial passion. Recognising the potential for personalised products to carve out a niche online, Moonpig was born.
Choosing the right company name proved more challenging than expected. Many sensible options were already taken, which made Nick realise the importance of creating a distinctive and memorable brand. He needed a name that was short, easy to pronounce, and phonetic enough to avoid misspellings. After considering numerous options, he settled on “Moonpig”, his childhood nickname that was both unique and available. The quirky name, paired with a logo featuring a cartoon pig and a moon, became a vital part of the brand’s identity. Nick explained, “The ideal name needed to be short, easy to pronounce, phonetic so it wouldn’t be misspelt, free of rude meanings in major languages, and truly unique on Google so it would not be confused with other brands.”
Building the Business and Overcoming Challenges
Building Moonpig from scratch presented many hurdles, especially in customer acquisition during the early days of e-commerce. Through relentless innovation and a focus on customer satisfaction, Nick and his team relied heavily on repeat business and word-of-mouth referrals to grow their customer base. The journey to profitability was arduous, marked by several rounds of investment and strategic pivots, but ultimately, it proved rewarding.
“Building a website is easy,” Nick noted, “but acquiring customers is much harder. Unlike a high street shop, people don’t just walk past an online business — you have to actively go out and bring them in.”
They tried everything. From advertising, social media, promotions, yet the most growth came from loyal customers sharing their experiences and referring friends. Even in year three, when they were still operating at a loss, Nick saw a clear route to breakeven. After four rounds of funding and many setbacks, he finally secured the investment needed to keep Moonpig afloat. Five years after launch, they hit a crucial milestone: turning a profit of £80,000. That moment of relief made Nick realise how much early energy went into fundraising rather than managing day-to-day operations.
Investment Insights and New Ventures
Nick’s experience on BBC’s Dragon’s Den strengthened his understanding of investment and the importance of a strong, resilient team. This insight proved vital when exploring new ventures. His latest project, , a revolving ski slope, demonstrates his resilience and ability to spot market opportunities. By recognising the demand for continuous skiing, Nick successfully turned this idea into a thriving business, showing how passion and persistence can transform concepts into success.
A Journey Worth Taking
Nick’s reflections on his entrepreneurial journey emphasised that the true essence of success lies in loving what you do and showing resilience in the face of challenges. He reminded aspiring entrepreneurs that the thrill of innovation, the continuous learning, and the joy of building something meaningful are the real rewards, proving that pursuing passion and maintaining resilience are vital to enduring success.
His motto encapsulated this perfectly: "Choose pursuits where you find each day too short to accomplish everything you desire, rather than longing for the workday to end."
Nick Jenkins’ talk at the Bettany Centre was not just a recount of business success but a call to embrace the journey, relish the challenges, stay resilient, and follow your passions with unyielding dedication. Because, as he passionately articulated, the journey itself is what makes all the effort worthwhile. As Nick stated, “Ultimately, entrepreneurship is about the journey, not just the destination. Some believe the goal is to build a company, sell it, and retire. But the real reward lies in the process, the learning, the building, and the excitement of creating something new. That’s what makes it all worth it.”
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