We Grew 5X In 2022 By Being Driven To The Mission Of Achieving A Zero-Emission Society
This is a follow up story for PEDAL Electric. If you're interested in reading how they got started, published over 2 years ago, check it out here.
Hello again! Remind us who you are and what business you started.
Hello again, my name is Spencer Gillis, I am the founder and CEO of PEDAL Electric.
Our mission was clear right from the start: to design and create an electric motorbike brand that blends enthusiasm and accountability while catalyzing the transition toward a zero-emission society.
After three years, we have achieved global exposure and established partnerships and affiliates that have helped support our goal to become the first electric bike brand to attain ocean-positive and climate-neutral verification.
Our vision is to not only provide efficient and eco-friendly transportation solutions but also to create a community of conscious commuters who share our values
At present, we boast two premier models that have undergone rigorous testing and continuous enhancements over the years. Our community of conscious consumers and businesses has shown a tremendous surge in demand, enabling us to scale our business by a remarkable 5x in the year 2022. In response, we are thrilled to announce that we have a few more exciting projects in the pipeline, set to launch soon.
Tell us about what you’ve been up to. Has the business been growing?
It's been a beautifully exhausting journey since my last check-in. We have succeeded in scaling our start-up into a formidable competitor in our current market. Our brand has expanded globally to include countries like Australia, the EU around the corner, and several other exciting destinations that we will be announcing soon. In addition, we will be introducing a distinctive shopping experience through our mobile showroom, which represents a new era of retail. Our objective is to develop this into a fleet of showrooms that can span the nation and onward.
Expansion and growth are crucial for any business, but as the legendary lyricist cautioned, “Mo Money Mo’ Problems.” Although we are thrilled to have achieved the next tier of scalability, the truth is that more customers equate to increased attention, resources, and expenses required to maintain the same level of service. I consider this to be the most significant milestone of the past year, and it is one that we will continue to face and surmount in the future.
It's challenging to pinpoint precisely how we reached our current position, given the fast-paced and ever-changing nature of our industry. However, I believe that creating an informative timeline or roadmap would be an excellent place to start.
Being able to forecast, allocate, and adjust spending is a valuable skill because time is often not on your side. At PEDAL, we are confident in our style, branding, and production, but we also acknowledge that good things take time. It’s all about time management and prioritizing what’s essential to set your business apart from the competition.
What have been your biggest challenges in the last year and what have been your biggest lessons learned?
Reflecting on the past year, we encountered several significant challenges, which, in hindsight, were instrumental in our growth and success. I believe that even though these challenges may have seemed unbearable at the time, we needed to learn from our mistakes to avoid repeating them in the future. Here are a few:
As a primarily B2C business, your success hinges heavily on your ability to attract customers to your website through various digital marketing strategies like advertising, search engine optimization, and social media. However, acquiring customers can be a challenging task as it requires catering not just to your core audience but also projecting your product and brand to appeal to a wider audience.
Seek out those who can help support you and fill the gaps where you have weaknesses.
At the core of our business is a product that facilitates transportation for our customers from one point to another. Our primary objective is to cater to their needs and desires, providing them with the best possible experience throughout their journey, from initial research to the final checkout and post-purchase experience.
Achieving this goal required a considerable investment of time and resources into developing a dynamic and user-friendly website that forms the centerpiece of our online presence. However, this development process was not without its challenges, as we faced several setbacks along the way, causing the project to take more than 7+ months to complete.
In addition, we learned how vital analyzing our advertising efforts from previous campaigns is to identify successful themes and replicate their formula. This process posed significant challenges as well, as it took learning and cycles for us to be able to pinpoint what was performing best.
So even putting forth the effort and confidently producing a piece of content or material, it takes time to convert or prove its success. By constantly striving to improve your marketing strategies and user experience, you aim to attract more potential customers to your website and convert them into loyal users of your product.
Each of the major challenges we faced had a cascading effect that disrupted our business’s overall performance. The delay in launching our new product, caused by the delay in completing the website, in turn, caused a delay in our marketing campaigns, resulting in a few months of poor sales and performance. Overall, delays, for any reason, can significantly impede the progress of the business strategies and user experience.
What’s in the plans for the upcoming year, and the next 5 years?
From the start, our operation has been driven by the goal of inspiring a zero-emission society. Reflecting on the past three years, we have accomplished a great deal by bootstrapping the business (while teetering on the edge of insanity), but the question has never been why, only when.
Our vision is to not only provide efficient and eco-friendly transportation solutions but also to create a community of conscious commuters who share our values and are passionate about making a positive impact on the environment. To achieve this, we are working on developing new vehicles to cater to specific needs and areas around the world, as well as enhancing our flagship line with new features and functionalities.
We believe that there is still so much more that we can accomplish, and we are committed to pursuing our mission of inspiring a zero-emission society. With the right resources and support, we are confident that we can continue to make strides toward this goal, and we look forward to sharing our progress with our customers and partners along the way.
Advice for other entrepreneurs who might be struggling to grow their businesses?
Here are some tips I’ve adopted that might be as obvious as other repetitive clichés but certainly helpful to be reminded of:
1) Stay informed: About your industry, economy, and anything pertinent that has the potential to influence or affect your business. It’s seeming obvious, but are you holding yourself accountable? I used to fall into a trap of being ignorantly unaware if it didn’t pertain to my industry specifically, or even my business itself. The more you know about your surroundings and current state, the better-informed decisions you will make.
2) It’s crucial to prioritize your mental and physical health, even though it can be challenging at times. I still struggle with this daily, especially since shoulder surgery. However, I’ve found that taking frequent breaks from sitting at my desk and stepping outside or spending time with friends/family can help reset and stay focused. Don’t let yourself constantly say, “Time flies”.
3) Build a strong team: The people you work with will influence the culture, attitude, and overall success of your company. When building, it’s important to look for individuals who share your values and vision, but also bring unique skills and perspectives to the table. Seek out those who can help support you and fill the gaps where you have weaknesses.
4) Make a positive impact. By contributing in some fashion to another organization, charity, or mission, you can expand your network and influence, and help create a better world for everyone. Lending a hand always helps in the future, no matter how big or small.
Are you looking to hire for certain positions right now?
We are always on the lookout for new talent to join our team. We welcome ambitious individuals who are eager to learn, grow and contribute to our mission. Whether you’re just starting out in your career or are seasoned in your field, we value diversity and believe that everyone has something unique to offer.
We offer a dynamic and collaborative work environment, competitive compensation and benefits packages, and opportunities for career advancements. If you’re looking for a challenging and rewarding career in a fast-paced industry, we encourage you to apply today and become part of our team.
Where can we go to learn more?
Articles:
The PEDAL Electric CORE Just Closed the Gap Between On- and Off-road E-bikes
The Best Electric Bikes—Whether You’re Commuting Or Cruising
How An E-Bike Can Revolutionise Your Surfing Experience, With Chippa Wilson
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Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
Download the report and join our email newsletter packed with business ideas and money-making opportunities, backed by real-life case studies.
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