Gabriella is currenly part of a competition for BBC called Be Your Own Boss competition where Richard Reed, the co-founder of Innocent Drinks is hoping to invest his £1 million in the next wave of young entrepreneurs. Gabriella has been given £100 to make a profit from, It’s sort of an experimental task she said.

She plans to make and sell 500 cupcakes from the £100 budget.

Hi Gabriella, great to have you on YHP, How are you doing?

Very well thank you!

Could you quickly give us some background information about yourself? Tell me about yourself growing up?

I had a very happy childhood – we’re very family orientated and with two older sisters there’s always been a lot going on. My mother is a brilliant cook and my father owns a restaurant so food had always featured strongly in my life. The recipe I use in my cakes was passed down by my grandmother who has been teaching me to bake since I was very young.

How did you get into business? Were you exposed to entrepreneurship as a child?

I was always academically driven. With no education himself, my father wanted to provide us with the schooling he had never had. I was always aware of the hard work that had got us into good schools and given us a comfortable lifestyle and was always proud of my father’s roots.

However, being the youngest of the three I was protected quite a lot and it wasn’t until recently that I started thinking about getting into business myself. Both of my sisters are very business-minded and I always saw myself as more relaxed – I always thought that life would fall into place! As I’ve got older I’ve realized that you have to go after what you want rather than wait for it to come to you.

Who was your inspiration growing up and why?

My father was born in a very small town in Southern Italy and moved to England when he was sixteen. He had one bag and less than £50 to his name! Meeting my mother just two years later he moved to Brighton and began working as a pizza boy. They worked incredibly hard, took some risks, and now have a successful business on Brighton seafront. My father is for me an example of what hard work and determination can amount to.

What was the inspiration behind Cupcake bakery? How did the idea come about?

I’ve just finished an English degree at university and my passion has always been for reading and writing. I thought temporarily about getting into advertising and it was from this perspective that I began thinking of business ideas. A Pound of Sugar was really a name before it became a serious project. I am passionate about baking but never thought of it as a career prospect until I discovered the Be Your Own Boss competition. I applied on a whim thinking it was a great idea but didn’t think I’d get through. Since then I’ve had to adopt a business mind in order to turn a dream into a reality and it’s been a really positive experience.

What was your biggest challenge during the starting up phase?

I think having £100 and a deadline yet having really only an idea was pretty daunting. I did think for a moment it would never materialize. However I took each step as it came and after getting a brand designed and the ingredients bought I felt a lot more confident. It was only after my first event that I felt like it could actually work!!

How have you been able to gain some traction to the business so far?

I think in this day and age social media is essential. I’ve worked hard creating a Facebook page and Twitter account and have been trying to raise awareness about the project via the internet. Also at the events I have attended I’ve been handing out business cards and flyers with information about A Pound of Sugar and BYOB. I’ve also got a friend of mine managing the PR side of things. It’s a really great opportunity for all of my friends to get involved in areas that they are potentially wanting to get into after university such as marketing and PR.

What would you say has been the highlight of your entrepreneurial journey so far?

I really enjoy setting up the stands! I get such satisfaction when I see the stall laid out beautifully and people commenting on how it looks. Before the cakes have been sold or eaten they do look delicious!

What can we be expecting from Cupcake bakery in 2012?

This really depends upon how far I make it in the competition! If I get through this round then I’ll be given up to £5000 seed capital and with that I aim to create a delivery service and cater for events. I’m working out of the back of my parents kitchen so investing in some decent utensils would be a necessary step!

What three pieces of advice would you offer entrepreneurs starting out today?

Determination, determination, determination!

Until recently, many of you were probably stuck using paypal and If you were using paypal – you were stuck. I recently caught up with 1/3 of the Gocardless team, Matt Robinson who explains to me why the Gocardless team are focused on making online payment struggles a thing of the past.

Hi Matt, how are you doing? Great to have you on YHP?

I’m great thanks. Things are going fantastically well at the moment.

Who is Matt Robinson?

I’m a 24 year old entrepreneur. I’m a McKinsey alumni and Oxford law graduate.

How did you get into business? Were you exposed to entrepreneurship as a child?

I ran a number of different money-making enterprises from a young age. I ran my first proper business at the age of 16 which paid for my way through university.

Who was your inspiration growing up and why?

My Dad. He came from nowhere to build a successful life, business and family. Business wise (sadly) it was the stereotypical TV entrepreneurs like Alan Sugar and Duncan Bannatyne.

So tell me about Gocardless and how the idea came about?

I’m one of three co-founders. We had all experienced a lot of frustration with both making and receiving payments. Simultaneously we had been spending a lot of time working with financial institutions gaining an insight into the payment mechanisms that underpinned them. We felt that we could build something drastically better for business than what was on offer.

How did you meet your co-founders?

I worked and lived with Hiroki for the last 2 years before starting GoCardless. We met Tom as we were starting and quickly decided that we wanted him to be part of what we were doing.

What were you doing before you founded Gocardless?

I was working at McKinsey & Co as a Management Consultant having graduated from Oxford University.

What is Gocardless? What are you guys trying to solve?

GoCardless is an API wrapper for bank transfer. It lets Merchants collect money with no Merchant account, no credit card fees (they charge just 1%!) and no hassle. Collecting money, whether for business or from friends, is a nightmare. The problem we’re solving is that payments are fundamentally broken. As a merchant, card companies are a rip-off and the application process is eye-wateringly complex. If you’re paying for stuff, the user experience is dreadful – most check-out processes leave me on the verge of tears.

What was your biggest challenge during the starting up phase?

The payment space is particularly hard to innovate in because you need to strike deals with banks and regulators just to get started. It’s very difficult to get these as a startup with no trading history. What we’ve shown though is that if you work hard enough and can demonstrate the credibility of your team and your product it’s doable.

You recently raised $1.5 million in investment, why did you decide this is the route to take?

Payments is a scale business and funding enables us to operate a scale model from day 1, speeding up Merchant acquisition and helping us get to scale more quickly.

How was the whole raising money process? How long did it take? What are some of the key things that you learnt from the whole process?

Hard work. We were exceptionally quick with the whole round taking less than 3 months from start to finish but it was still exceptionally hard. The key learning was how critical the type of intro is. With a cold email you have essentially a 0% chance of raising, with an intro from someone who has already invested in you, it’s close to 100%.

What advices can you give to entrepreneurs looking to raise money to grow their start-up?

Raising investment is a distraction from running your business. You therefore want to do it as quickly as possible. To do this you need to get significant traction, either in the form of users or deals, before you even think about raising money. Oh and something Paul Graham said: “When you go to investors asking for money you get advice; when you go asking for advice, you get money”.

You guys were previously based at White Bear Yard, what were some of its benefits?

Being based at White Bear Yard was great. We were in the same building as some of our investors and a number of cool startups. It was great to have both around us to pick their brains whenever we needed. Those benefits of clustering are a small microcosm of what is hopefully going to happen across the whole area.

What are the most crucial things you have done to grow your business?

User growth has come from a couple of great partner deals. Wherever possible you should avoid having to acquire customers one-by-one. If a single company has a relationship with lots of potential customers, going through them is going to be hugely advantageous.

Would you say the business has changed from the first initial idea?

Absolutely – I would be worried if it hadn’t! The key for us has been getting our product in front of Merchants asap and hearing their thoughts on what they do and do not want.

What would you say has been the highlight of your entrepreneurial journey so far?

I think it would have to be going out to the Valley and doing YCombinator. Although, going to No10 Downing Street and meeting with the Innocent founders at Fruit Towers are definitely up there for one-offs.

What can we be expecting from your company in 2012?

Growth, and lots of it! As well as a couple of cool new products which are going to shake up the payments space that you absolutely should keep your eyes out for and our expansion across Europe.

What three pieces of advice would you offer entrepreneurs starting out today?

Make something people want.
Focus on one problem at a time and forget everything else.
Find great people to work with.

Andrew is currently studying for his Masters at Manchester University, in addition to running a Student Urban Fashion Brand – PieBoy clothing – He is also the Vice-President of Manchester Entrepreneurs – an organisation he hopes inspires and supports up and coming entrepreneurs in Manchester.

Andrew was recently accepted to the Entrepreneur First program, a national graduate scheme for aspiring entrepreneurs.

I caught up with Andrew as we spoke about his background, entrepreneurship, studying for a Masters, PieBoy Clothing, being the VP of Manchester Entrepreneurs and EF

Hi Andrew, great to have you on YHP, how are you doing today?

Pretty awesome thanks! The sun is shining and there lots of exciting things on the agenda for the next couple of weeks!

Before we move on, could you quickly give us some background information about yourself so that the YHP audience can get to know you better?

Sure, I’m a born and bread Manx man (from the Isle of man) who went to school in Yorkshire and the States before starting my undergraduate at Lancaster in business. Since then I’ve worked on a graduate programme and started my first enterprise in the automotive industry before coming to Manchester University to do a Masters of Enterprise. As well as my Masters, my big focus while being here has been PieBoy clothing. A Student Urban Fashion Brand focused on making Uni merchandise cool again!

Let’s take a step backwards a little, tell me how you got into entrepreneurship originally, what was your motivation?

I guess its some thing I’ve always grown up with, my grandparents, parents and siblings all starting and owning successful business’s. I guess it wasn’t so much a question of if but when. Away from being influenced by my family, the freedom to decide your own destiny has been another big motivator.

So what was your first real shot at starting a business?

I’ve had lots of little side things going on at various times. While doing my Undergrad at Lancaster a good friend of mine and my self used to go down to the pound shop and find stuff we thought was decent and put it on eBay. If we could make more than a 100% markup on something we’d go down and buy a heap more stuff and sell it. We didn’t make much but we certainly had a darn good beer kitty!

After that, did you get involved in anything else?

After graduating I worked for 18months at an offshore bank on a grad scheme until another good friend convinced me to start one of the many business opportunities we had been researching. Quickhubs.com (now called quickvehicleparts.com). We had some success and after my business partner left I established a living wage from it. However it became apparent the business was operating in a very price sensitive market and we really needed to innovate, this is when I started looking at other opportunities.

You’re currently studying for a Masters at University of Manchester? Right? Why study for a masters, I mean you seem very entrepreneurial, why not start a business straight after finishing your degree?

Good question. I don’t think there is necessarily a right or wrong way to get into enterprise. Some people start out when they are 10 years old selling sweets. Some people start when they are 50 after a big corporate career. I think for me at the time I’d had some practical enterprise experience and some corporate experience and I felt getting plugged into the enterprise scene in a big city while enhancing my enterprise skills through a Masters was the right way to go and looking back it was definitely the right decision.

You’re also the Vice -President of Manchester Entrepreneurs, how did that come about and how are you coping doing that in addition to studying for a Masters?

Ahhh Manchester Entrepreneurs. What an Organisation! I met current President Stan Reinholds last year and we’d working on a couple of thing prior. He knew I was studying a masters of enterprise and had some prior practical enterprise experience and then last summer out of the blue he asked me to be Vice President. We spoke about the big plans for the year and what we wanted to achieve. I mulled it over for a week and then said yes. It’s been a lot of extra work but has definitely been worth it. I think we’ve helped inspire and support up and coming entrepreneurs in Manchester as well as put our own skills to the test with organizing big events and lobbying to give enterprise a bigger agenda in Manchester

What would you say are some of the key things that you’re learning from the whole experience?

So much. From a skills perspective you have to do so many varied things in a start up so I really have put my sales, marketing, accounting, web build, project management etc skills to the test so I feel very competent in a lot of areas. From a developmental and growth perspective it has made me much more creative, accepting of uncertain situations, passionate and content. That doesn’t mean that you shouldn’t work hard and do the very best you can it just means that make sure what ever you do, you do it with a smile and don’t get stressed out.

About Pie Clothing – how did the idea come about?

PieBoy didn’t start out as a big ambition to change Uni merchandising in the UK. It started out from a friend and my self identifying a gap in the market. At the time when we launched PieBoy, bobble hats were becoming the trendy winter fashion accessory. University’s weren’t selling these so we had a few samples made, gained good feedback and then sold 250 on a pop up stall in about a week. Everything grew from there really including vision for what we wanted to turn PieBoy into.

What has been toughest part of starting the business and how have you overcome that?

There are a lot of hurdles to over come at various times. I think at the very beginning it’s about finding what your customers value and really delivering on that. Undertaking market research is all very well and good and it’s easy for people to say they will use or buy your product. But when people actually have to put their money where there mouth is you could find your market research going out the window. Luckily for us when we started out our intuition and basic market research was sound and people were willing to put their money where their mouth was and buy our product. Often you don’t know if it’s a goer until you get to that point, so I would say experiment and try selling your products early on to get consumer feedback and find out what works.

You’ve just recently been accepted into the Entrepreneur First program? How did that come about?

Last November I found my self going to a talk by Entrepreneur first as we needed a couple of the Manchester Entrepreneur committee members there to help set up and I was keen to find out more about the programme. As I was listening to what they were talking about I found my self thinking, “Wow, this is really for me”. Soon after, I applied and got through all the various rounds of the interview process and was offered a position earlier this year! I was obviously over the moon to be accepted, as it is an amazing opportunity!

What are some of the key things that you learnt from the whole application process?

That there is a hell of a lot of talented, young and hungry entrepreneurs in the UK, which only bodes well for the UK as a whole. There was a lot of people who applied and when we went for the interview and assessment day the calibre of every one was exceptional. Exciting things to come I feel.

Is this something that you would recommend to other aspiring entrepreneurs? What’s the value in it?

I haven’t officially started the programme yet as it starts in August so it’s unfair of me to make accurately comment on this at the moment. However I have met all of the cohort, the founders and some of the some sponsors a number of times and every thing is really gearing towards the start of something very special! The talent they have involved speaks for its self and I’m excited! But in short if a young entrepreneur is aspiring to start a high tech, high impact start up then I would defiantly recommend applying for Entrepreneur First

What would you say has been some of your most memorable moment so far?

In terms of my enterprise career. Winning or being shortlisted for awards is obviously very flattering and there have been a couple of those like Shell Live Wire or Lloyds TSB awards. In terms of having fun some of the viral video stuff like Manchester’s Gorgeous Girl was amazing. In terms of passion and exciting, when I started my first start up with a friend and we took over one of the bedrooms in his parents house it was 3 months of sheer excitement as every thing was so new. And in general terms just meeting with and working with so many great people has been amazing!

What advices would you give to aspiring entrepreneurs looking to start their own business?

If it’s your first business, just get out there and give it a go on a very small budget. You can learn so much by just doing so do some research identify your opportunity (solving peoples problems is always a great starting place for that) and just go out and do it. Make sure you get passionate, start very lean with very little capital outlay and just get on and do it. Like I said you will learn so much you can take to your next venture and if your making money it’s a bonus! If your going for some thing in a more serious capacity that you want to grow into an empire with some more capital investment really make sure you understand how you are delivering the value to your customers. Make sure you know their problems, make sure you know the opportunity clearly that you are pursuing and work your darn hardest to make it a reality.

So now – What should we be expecting from you in 2012?

So the rest of 2012 hey… I have to finish my masters, which is a pressing priority now. More people are going to be involved in helping run PieBoy and we have some exciting initiatives in the pipes which will be pushed out later this year. Ill be starting entrepreneur first come August which will result in the creation of a team and business in the high tech sector! Very exciting times ahead!

[Editor's Note] Milos Bezanov is a second year student currently studying International Politics at King’s College London.

Got GCSE’s coming up next month? Under pressure? We’ve all been there, especially when your teachers constantly preach the importance of these “exams” and how they determine your entire life. Through sheer desperation, you seek an excuse, and the ideas start flowing… “I broke my leg… got run over by a wheelbarrow..” and become increasingly more unlikely in the search for something original.

However, even if you devoted days to this endeavour, coming out with “I gotta promote my new application to the world’s 11th richest man”..is one that is most probably beyond anyone’s creative ability. This is no excuse, as Nick D’aloisio, a 16 year old King’s College School student who, ironically, was revising for his exams when he came up with a whole new way of revising.

Realising how time consuming sifting through different articles and web pages actually was, he wanted to see if there was a service available that summarises the content. There wasn’t. Today, this is what Summly does, but the shift from idea to product was an adventure which only begins with the student’s dream of finding an excuse that actually works.

Nick D’aloisio was always thirsty for knowledge. The Brit-Australian, grew up in Perth, where he enjoyed star gazing, proceeding to learn everything there was to know about them. It wasn’t too long after moving to London that this thirst for knowledge soon began to translate itself into an entrepreneurial streak. After eventually convincing his parents to buy him a MacBook Pro, at 12 he downloaded the apple development kit and “through trial and error” started creating apps. After initial failures, he developed SoundStumblr and Facemood, which summarises peoples moods on the basis of their facebook timeline. He then developed Trimlt.

This latter idea was designed to simplify the arduous task of revising by enabling users to see a quick summary of the webpage’s or newspaper article’s contents before actually viewing them. Like so many ideas that hit success, it’s mind bogglingly simple, or at least it appears to be so; “it’s one of those ideas, it’s so obvious when someone tells you it, but beforehand it’s not”. If anyone is not sure how to tell a good idea from a bad one, this is close to a criteria as you’re going to get.

He got confirmation of the idea’s value soon enough, attracting investment for trimlt and being featured in a few local press reports. It was one such report that caught the interest of Solina Chau, an investor with private equity firm Horizons. After having a chat with Nick’s parents, who up until this point had no idea about their sons entrepreneurial endeavours, he was flown to America to meet Li Kai Shing. He is the owner of the Horizons, a keen investor in tech businesses…oh, and the 11th Richest man in the world.

Through this investment, Trimlt became Summly, a much more powerful version that is capable of summarising the contents of huge articles into just a few bullet points. It’s easy to forget at this point that he’s only 15. Not surprising considering that he had his age hidden; “ It was a conscious decision to not disclose my age”, as he believed that focus would shift from the product to him. Either way, the success of the product necessarily shifts the focus on to the inventor

Nick is quick to recognise the advantages of being young; “ Youth was, in some ways” an enabler”, as not having to worry about the business as a source of income let him be more experimental with the app’s development. Since then the business has been going from strength to strength; 15,000 viewers on the website (unique visitors) and 25,000 downloads between June 2011 and December 2011 according to Nick.

Without going into too much technical depth (because I will probably get it wrong), the USP is not the concept, but the service. It uses “machine learning technology” to mimic the behaviour of humans when summarising. This is what he calls the “unique approach”, and is how Summly differentiates itself from other note taking services. However, he does acknowledge that a big internet player like Google can come along and push him out the market, but at the same time is quite confident that the tech giant won’t pursue such a risky strategy; “What’s to say that we don’t sell to their competitors and suddenly Google has lost out”. It seems he has keen business instincts to back up that knowledge.

What next for Nick D’aloisio? Despite his technical ability, he’s not your typical geek. He cites sports as a great hobby of his, and is keen to study politics and philosophy at university; “I do want to devote time to Summly now, but want to make sure I’ve got other paths going in the future”.

Looking back at his, fairly short but jam packed life, summarisation as a concept fits quite well. He always wants more time, to explore new ideas, and to see if he can make them work. This begs the question why? Is he really that short on time? Perhaps to find the answer we need to look at something Steve Jobs, his idol, said; “I’ve looked every morning in the mirror and asked myself, it today were the last day in my life, would I do what I am about to do”. It seems almost impossible for a person of 16 to think like that. Then again, Nick D’aloisio is no ordinary 16 year old.

[Editor's Note] Milos Bezanov is a second year student currently studying International Politics at King’s College London.

Alice is the co-founder of LUX FIX, an online platform that does two jobs – (1) It’s new way of engaging with fashion enthusiasts, offering members super-curated luxury deals. (2) It helps designers showcase their products towards a targeted customer base .

Alice quit her job in the city last year having spent most of her time speaking to entrepreneurs as an investor. I recently caught up with her as she sheds more light on her recent journey into the startup world.

Hi Alice, How are you doing, great to have you on YHP?

Thanks it’s great to be speaking to you guys!

Could you quickly give us some background information about yourself? What were you doing before you founded LUX FIX?

Straight after leaving Oxford, where I read History, I worked as an investment banking analyst at Goldman Sachs working on UK Mergers & Acquisitions, followed by three years in private equity at Quilvest Private Equity, where I was involved in the execution and monitoring of direct and fund investments in the UK and Europe. Then I left finance behind to found LUX FIX!

So Alice tell me how you got into business? Were you exposed to entrepreneurship as a child?

Sitting the other side of the table as an investor at a Private Equity firm, I was always struck by the passion and energy of the entrepreneurs I met and was very keen to join them when I found the right opportunity.

Who was your inspiration growing and why?

My grandmother! She has worked all her life and is at the top of her field (she is a jewellery historian) even today.

So tell me about LUX FIX and how the idea came about?

We felt there was a need for a service offering time-poor professionals cherry-picked luxury, countering the “inventory overload” of the web and rewarding them with special offers each week.

What is LUX FIX and how does it work?

For our members, we are solving the issue of online inventory-overload and making buying luxury online fun and experience led (all our offers are one-off), for our designers we are a marketing platform which drives targeted consumers directly to their own online presences.

What is your business model?

LUX FIX works hand in hand with designers to offer super-curated luxury with members-only deals – like discounts, limited-editions and previews. We introduce brands and their current season to members via our newsletter/blog, engage members through the fun & interactive LUX FIX platform, and convert sales both on lux-fix.com and through referrals to designers’ own websites.

LUX FIX currently generates revenues directly on lux-fix.com and via affiliate sales.

What makes LUX FIX different from any service out there?

We are the only site in the UK where top luxury brands give regular offers on current season merchandise; this is possible because we provide marketing and sales generation for our designer partners’ brands and websites. Our customer is interested in current collections and the provenance behind them, she also appreciates deals and one-off offers to draw her attention.

What are the most crucial things you have done to grow your business?

Building a portfolio of luxury designers from scratch pre-launch was a big challenge — designers are approached by online startups all the time and we had to show them why we were different, all before we actually had a website to demo.

We focused on explaining to designers how Lux Fix differs from other online multi-brand retailers — how we work directly with designers to raise awareness of their brands and grow their own e-commerce sales rather than competing for customers. Also, we showed no compunction in calling brands again, and again, and again, until they agreed to give us a meeting.

Who are your competitors?

Well…we think LUX FIX occupies a unique space in the UK, offering members deals on in-season luxury alongside fresh editorial!

How have you been able to fund the business?

We raised a small initial round from private investors.

What can we be expecting from your company in 2012?

In the next year we are looking to grow a fantastic team, particularly on the buying side so that we can grow our engaged database of luxury consumers to our next milestone and also to expand our offering cross-vertical and to serve new markets!

What three pieces of advice would you offer entrepreneurs starting out today?

The best advice we have ever been given? Never take no for an answer and always negotiate! Other than that….Use your network — friends, family, former colleagues, random person you meet at a party, it’s amazing how many people you know will be able and happy to help. Also be prepared to be flexible and responsive — we’re constantly iterating and many of the features on the latest version of the site came from customer and designer feedback.

[Editor's Note] Milos Bezanov is a second year student currently studying International Politics at King’s College London.

Many people are wondering who this new character that hit TV screens actually is? If it weren’t for his almost Boris Johnson type appearance, his initially unimposing demeanour would make it easy to let him pass under the radar. Yet it was Nick Holzherr who took control of some quite considerable egos (one candidate actually referring to himself as “the reflection of perfection”) and led the team to victory. His overconfident statement prior to the show’s start; “I’m a natural leader, I like to lead teams and I can lead (a) team into real success” most likely didn’t win him many fans. However it can’t be overlooked that, in the first task, he backed his claim, and he did it in style. Whilst this alone is not enough to back up his other equally confident claims, it nevertheless begs the question, is Nick as good as he says he is? Is he the real deal?

His childhood was split between two countries, having been born in the UK, his family then moving to Zurich three months later where he spent the next 7 years, after which his family returned. His entrepreneurial streak was evident early on in life, selling lost golf balls back to golfers at the age of 9. From there he continued to move through his education fairly swiftly; taking his degree at the Business School at Aston university. It was during this time that he developed his more entrepreneurial side; co founding SIFE (students in free enterprise), which aimed to get students involved in enterprise. It did this by enabling them to work on projects to improve economic development in the west-midlands region. Needless to say, it became an immediate success, becoming one of the largest societies, and partnering with Birmingham city council. So far so good.

It wasn’t just out of hobby that he began to explore ideas. In his placement year, he was stuck “in a glass building” at a global investment bank in Germany; “it was boring, I hated what I was doing”. Not having the best time, sketching business ideas became a form of escapism; “(during this time) I thought I could come up with some really interesting ideas”. It was here that he came up with his “go go coffee to go” scheme. Essentially what they do is sell the coffee to customers, but sell the cup itself as advertising space for clients “generating income from both sides” enabling cheaper prices for the same quality coffee. This ingenious scheme won the American-German Business club’s business plan competition. Confidence in himself was undoubtedly buoyed by success with SIFE, but success with the coffee scheme was a new step. What was present in this scheme unlike with SIFE was a tangible product, and shifting this belief from person to product gave him the courage to pursue it further.

It was from pursuing this business idea that his journey into enterprise began. Having ordered 20,000 cups from China, finding a spot to store this that was near their campus (their target market) presented quite a challenge. Nevertheless, they managed to find a friend at their university who was kind enough to store it. This experience showed him that, whilst it is difficult to find investors willing to give money, cutting costs by getting stuff cheaply, or free, is much easier. There was also another snag on the sourcing side; having rented office space in September, various delays in production and transportation meant that they didn’t arrive until January. Nick, looking back, almost wanted to quit; “We (and my business partner) had so many times last year when we thought; shall we just give this up”. However, having invested almost £40,000 pounds, they didn’t give up on the business, and started trying to think of different ways of making money from the advertising end.

From this, their idea for their latest venture was born. Using QR codes, which are 2D digital barcodes that can be scanned into your mobile, people can load up more information about the advert. The popularity of this idea quickly became apparent; “We had loads of people coming to us saying, guys, we really like this, can you do this for us”. However, expanding on the idea into a business is a skill in itself, and it was only through the experience he gained earlier that he was able to utilise it’s potential. In line with his “getting what you can for free” rule, he managed to secure free office space through the Birmingham E4F business incubator. Today, the initial idea has been transformed into a “content management system for mobile phones” where the user can scan the code on the business card and load up a profile, which links to the person’s Facebook, Twitter, Skype etc. All this wouldn’t have been possible if they didn’t keep at it when times were tough; which was something he didn’t learn in business school.

Nick has come a long way since selling those golf balls to (admittedly somewhat naïve) golfers. He now offers consulting and guest speaking services, is working on many other business ideas, while at the same time appearing on one of the UK’s biggest business shows. In particular, the claim that “I’ve got lots of ideas, I know how to whittle them down into ideas that will work and I’ve got what it takes to make them actually happen” succinctly captures what his learning experience. Since the age of 9 he hasn’t been afraid to explore these ideas.

At university, he perfected his ability to explore an idea to it’s fullest and come up with a concept that can work, winning him the competition. However, it was his initial failure with Go Go Coffee that taught him the difference between a good idea that works and one that doesn’t. Just like he backed up his leadership claim in the apprentice, his life experiences back up this one too. In short, Nick Holzherr is the real deal, and I’m sure we’ll hear more about him in the future.

[Editor's Note] Milos Bezanov is a second year student currently studying International Politics at King’s College London.

James tells me that as a young child he wanted to be a teacher and as a result loved going to school – but all of that changed when his parents got a divorce when he was 15. After seeing his parents dedicate their time and lives working on other people’s vision without really getting any satisfaction – It was then he knew he wanted to get into business.

James is the now the founder of Zeffa – an independent media planning and buying agency which he started during the credit crunch. I spoke to James on founding the company and how he has managed to build it into a multi-million pound business.

The full interview is below

Hi James, How are you doing, great to have you on YHP?

All good here thanks! Hope you’re well and had a good Easter!?

Yes I’m fine thanks, Easter wasn’t so bad – unfortunately mine was spent been stuck in front on the computer editing interviews.

Could you quickly give us some background information about yourself? Tell me about yourself growing up?

I was born in Wednesbury in the West Midlands and moved to Abergavenny in South Wales when I was 7. I now live in Cardiff. As a child I was often bullied and taunted for being a ‘teacher’s pet’. I loved going to school. Part of the reason for this was probably linked to the fact that I’d always craved to be a teacher but when my parents divorced I was 15 and I didn’t want to go off to Uni to study so I stayed at home.

How did you get into business? Were you exposed to entrepreneurship as a child?

I wasn’t exposed to entrepreneurship as a child. What I had been exposed to though was seeing my parents spend their lives working for other people executing someone else’s vision and plan and never really being satisfied with what they were doing. I think my determination to do and be better inspired me to get into business.

Who was your inspiration growing up and why?

This has to be my mum. I’m a real mummy’s boy (and I’m not afraid to admit it!). My mum is a real grafter. She’s not afraid to get stuck in and get her hands dirty. She also handled her divorce with my father extremely well and supported my sister and I in dealing with the uprooting that divorce often causes. My mum kept me focused on schooling and worked hard to retain a sense of normality within our lives. I couldn’t have asked for more. If nothing else, she taught me that even when you’re faced with a situation that you see no way out of, you’re the only one that can make a situation better.

So tell me about Zeffa and how the idea came about?

Zeffa is an independent media planning and buying agency and our job is to help advertisers find the right people, in the right place, at the right time, the right amount of times. The business was born out of the desire to change the way our industry worked. Many agencies operate on fixed fees or retainers and I believe that this approach isn’t always right for every client. There are some brands that pay fees every month to an agency and no work or consultancy is conducted. Yes, having a fixed income per month is great for an agency but it isn’t the best use of budget for some clients.

What were you doing before you founded Zeffa?

I started my advertising career with global outdoor media owner Clear Channel and went on to work in local and regional radio sales.

What was your biggest challenge during the starting up phase?

Convincing prospective clients to work with us. I started zeffa 4 years ago in 2008 when the ‘Credit Crunch’ was just kicking in. Clients wanted normality and stability – something that is common in times of uncertainty, so it was a real challenge getting them to understand why I was doing what I was doing and why I wanted to be what we are today.

How have you been able to fund the business?

I’ve been very fortunate that I run a business that doesn’t hold stock or need elaborate premises to operate within so right from the start, I just had to make sure that what I sold a campaign for, was more than that of the media I was buying in. Cash flow is always difficult to manage when you’re a growing a business. We have struggled at times where we have over traded but an open and honest relationship with suppliers and our bankers have meant that we have been allowed more generous credit terms.

What are the most crucial things you have done to grow your business?

Recruiting the right people! I like to talk and I love nothing better than sitting with a client and listening to the problems they’re facing and then being able to help combat those problems giving them not just a solution but becoming an expert in their field too. This is what grows our business but I can only do this when I surround myself with the best people. My team are wonderful and support me well in executing the reason that we do what we do. If my day was filled with meetings that weren’t relevant not only would I end up being stale but I wouldn’t be able to grow the business the way we have been.

Would you say the business has changed from the first initial idea?

Most definitely. I had an idea originally and it was only when I started chatting to customers and suppliers that I realized I needed to change my approach. I did and that’s why we’re here today. If I’d stuck to my original idea, yes, we’d have done ok, but we would have tightened our scope for growth phenomenally.

What would you say has been the highlight of your entrepreneurial journey so far?

Getting to our 4th birthday. Every day you see or hear of a business closing or going into administration and it makes you realize how tough some businesses are finding it right now so getting to our 4th birthday in March was a real highlight for us. It made me realize that we’re bucking the trend and doing something right.

What can we be expecting from your company in 2012?

Our plan in 2012 is to build on the successes of 2011. We’ve strengthened our team with the appointment of a marketing executive so we’re going to have a more considered and thought out approach to how we market ourselves to prospective clients throughout the coming year. It’s definitely going to be an exciting year.

What three pieces of advice would you offer entrepreneurs starting out today?

Know why you’re doing what you’re setting out to do – On those days where you’re finding it hard, reminding yourself of why you’re doing what you’re doing will get you back on track.

Surround yourself with the best people – recruit people who you can trust and will buy into your vision as much as you do

Make a decision – whether it turns out to be right or wrong, you’ll learn from making decisions. If you don’t make a decision it’ll be the biggest mistake you make

East and Lester has come a long way since showcasing their garments at a business show in Earls Court. I caught up with one of the co-founders of the company, Samuel Aderounmu to learn more about his journey.

The full interview is below

Samuel Aderounmu (left), and Yemi Spaine (right)

Hi Samuel, great to have you on YHP, how are you doing today?

I’m doing great, thanks for asking. It’s a glorious day with plenty of Spring sunshine, which always puts me in a great mood!

Before we move on, could you quickly give us some background information about yourself so that the YHP audience can get to know you better?

Sure. I’m 23, Nigerian/British, and currently based in London where I live and work. I graduated from the University of Leicester in 2009 with a degree in Financial Economics, following which I completed an MSc in Finance and Investment at Durham Business School. I now work in an Investment Bank but also run a business with my friend Yemi.

So Samuel, tell me how you got into entrepreneurship, what was your motivation?

I’ve always had a love of business, which I believe that I inherited from my parents. Before I was old enough to remember, my dad had retired from his banking career to pursue several business interests. My mum was also very business-minded – producing hair and beauty products in Lagos, Nigeria. Growing up around such entrepreneurs certainly rubbed off on me. I would say my motivation has always been centred on my love for variety and a challenge. Starting and running a successful business is exactly the type of challenge that keeps me interested!

What was your first business, tell us about your experience running that?

My first insight into business was actually an eBay business, back when I was still in secondary school. The concept was very simple, import mp3 players from China and sell on eBay (back in the days when the iPod was only just emerging). The experience was not so straightforward however, I got ripped off a couple of times with suppliers sending items I didn’t order/counterfeit goods. As you can imagine, after that I wasn’t so keen to pursue that idea and realized I wasn’t ready to take on such a business and decided to focus on my GCSEs. I would say it was a great experience, in that it taught me a lot about the risks of doing business, and what factors to consider next time.

After that business, what else did you get involved in?

I didn’t get involved with any other ventures until I got to the University of Leicester, where I had the opportunity to revive a failing society.

So you went to the University of Leicester? How was the experience, a lot more people are deciding to go into entrepreneurship straight after school rather going to university, what made you realise that this was the right choice for you?

Going to university was probably the best decision I could have made at the time. I matured a great deal in the three years I was studying for my Bachelors. I also came to know myself a lot more, around what motivates me, and what I wanted to get out of my life. A major factor in deciding to go to University for me was that I saw a degree as something I could always fall back on….and three years at Uni would be a great deal of fun too!

At the time that I was deciding to go to University, I had a good idea of what type of career I wanted to pursue – although entrepreneurship was my long term goal, I saw a career in banking as a way to open many doors and prepare me with the skills I would need to be successful in business.

You became Vice-President of the Afro Caribbean Society in your second year of university, how did that happen? How was the experience running the society, especially reviving a failing society as you said earlier and some of the opportunities It brought you?

I actually set out to be Treasurer of the ACS, but as fate would have it, I ended up being the VP. The person running for President moved on to another Univeristy, my current business partner Yemi, got promoted to President, and I took his position as VP. That turned out to be a very fortunate turn of events for us as friends and business partners.

The experience of running the society was certainly very challenging, but equally as rewarding. When we took over leadership, the society was suffering low morale, even lower expectations, and had no money in the account. However, through some great ideas and the hardwork of the whole ACS team, we were able to turn it around to the point where we were nominated for Society of the year. Both Yemi and I would say that the experience of running that Society is what confirmed our passion for entrepreneurship.

Is this something that you would recommend to other university students?

I would definitely recommend getting involved in the running/leadership of extra-curricular activities at University, be it a Sports club or Society. Involvement in the management of a Society is a great way to challenge yourself, and you will learn a lot of practical business skills that you probably wouldn’t learn from the academic portion of University life. In the one year that Yemi and I were managing the ACS, we learned a lot about advertising, marketing, accounting, conflict resolution, people management, stakeholder management, resource planning and forecasting, the list goes on.

So straight after university, you decide to intern at Goldman Sachs and then a MSc in Finance and Investment at Durham Business School?

Correct – I wanted to gain an insight into whether my desired career in banking was anything like I was expecting. So I applied for several internships and was over the moon when I got an offer from Goldman Sachs to intern in the Global Investment Research division in the summer of 2009. The MSc was something I always planned to do even while I was still studying for my Bachelors.

Tell me about your experience at Goldman Sachs, what would you say were some of the key things that you learnt from that experience?

The experience was a very challenging one, which is probably why I enjoyed it so much. The long hours (typically 7am-7pm, often longer) would fly-by as the days were busy and there was always a lot to learn. The key things I learned from the experience would be time management, stakeholder (customer/supplier) management, and the value of integrity. In the real world, ‘blagging it’ is not an option. You must have the substance to back up any ideas you’re presenting. These are all lessons that we apply to the way we run our business now.

Why a Msc, I mean I’m pretty sure by then you were already buzzing with ideas for start a business? Why further your study?

In my final year at Uni, I decided to apply for MSc courses. Although I was already buzzing with ideas for business, I thought I would probably never want to return to education once I started working/business. I saw an MSc in Finance and Investment as an opportunity to develop a more robust financial grounding and acquire practical skills that I would be able to apply whether in business or the workplace.

How did you meet your co-founder?

I am in business with my university housemate and good friend Yemi. We met in our first week at the University of Leicester, both studying Economics, and quickly came to learn that we had many common interests, most relevant of which are entrepreneurship and men’s style/ fashion (although neither of us would actually say we follow fashion!).

Tell me how the idea for East & Lester came about?

After Uni, Yemi interned with Ozwald Boateng on Savile Row. I was invited to Ozwald’s flagship 25th year anniversary runway show at the end of London Fashion week. It was that event that provided the inspiration for us to launch our own men’s custom/ semi-bespoke tailoring company. We identified that there is a large market for affordable, custom tailoring, because most people couldn’t afford the Savile Row prices (typically upwards of £2000 for a bespoke suit).

What is East & Lester? Tell me more about the company

East & Lester is simply a company that offers made to measure / Custom made suits and shirts. We currently focus on men only, but we are working on expanding our products and services to women in the year ahead. The company has been around since the end of 2010, and we have seen a steady increase in clients and sales in the period we’ve been running.

Are you guys profitable?

Thankfully, yes we are. We have been profitable from very early on in the business. Yemi and I worked to a very strict start-up budget which, coupled with the unique business model, meant that we were able to start realising profits within 2-3 months of operating.

What kind of challenges did you face when starting the company and how did you deal with it?

As I mentioned, we were basically bootstrapping when we started the company. That was mainly because we preferred to build the company without any external investment, and we had experience in building up a profitable venture from practically nothing whilst at Uni. The major challenge we faced was that we had to learn to do practically everything ourselves. For example, our website www.eastandlester.com was designed and built entirely from scratch by Yemi and I. I spent a lot of time learning the technical aspects, whilst Yemi worked on things like copywriting and SEO optimisation. We were able to play to our strengths, which I think is key to our success.

How were you able to juggle running the business and studying for your Msc?

That wasn’t much of a problem as we started the business in September 2010, which was around the time I submitted my dissertation!

What are some of the key things that you’ve learnt so far on your entrepreneurial journey?

1. Don’t take no for an answer
2. If you can’t afford to pay someone to do it, invest in yourself and learn to do it yourself
3. Google is your best friend for all kinds of research/solutions to problems (the internet taught me how to build a website)
4. Surround yourself with positive, like-minded people. This is what I love about platforms such as YHP!

What would you say has been some of your most memorable moment so far?

Two moments stay in my mind:

1. The first time Yemi and I wore our East & Lester garments was to a business show at Earls Court. We received many compliments about them, and each time we told people our company made them, the look of disbelief on their faces (probably down to our youthful looks) was always quite satisfying!

2. Being asked by a soon to be married client to take on the duty of dressing him and his seven groomsmen. Not only is that the biggest single order we’ve undertaken, it is also humbling to have the opportunity to play such an important role on such a significant occasion as a Wedding.

What advices would you give to aspiring entrepreneurs looking to start their own business?

I think my advice to aspiring entrepreneurs would be the same advice Yemi and I followed. That is simply to work hard and persevere with their business ideas, until they become a reality. Coming up with ideas is often easy, but what makes the difference (and is more difficult) is being able to execute those ideas into something profitable. Obviously, plan, plan and plan some more, to ensure that you have all bases covered, and that the idea really is feasible and that your expectations are realistic, even if optimistic.

What can we be expecting from you and East & Lester in the future?

At East & Lester, we remain focused on maintaining the quality of our products and services. That has been, and will continue to be the foundation of our expanding client base (which has been driven solely by referrals thus far). We are now operating in two continents, but aim to have a presence across all continents within 5 years.

From Yemi and I, you can expect to see more products/services within the luxury goods/services space. Our mission is to redefine luxury because we believe luxury and expensive should not be synonymous. We have many more ideas in the incubator, all of which are founded on that same premise.

It’s been a long journey for James so far but one that he knew would always lead him to the next big thing and the next big thing was mobile. From joining IPC media at age 18 selling classified ads, to joining a 15 man agency in London and then a 5 man mobile content business in Sydney, all of this happened with him just being 21 years old. It was then that James decided it was time to start his own thing, He said “Mobile was booming in 2009 with both the iphone and android gaining traction in most markets – it just felt right”.

James Connelly is the co-founder and managing director of Fetch Media – a mobile advertising agency.

I invited James onto YHP to talk to us about his journey so far, running a mobile advertising agency and some of the key things that he’s learnt so far.

Below is the full interview.

Hi James, thanks for doing this with me, how are you doing?

No problem, Joseph, and I’m well thank you. I am currently sitting in my US office in sunny San Francisco.

Can you give us some background information on yourself? How did you get into business?

Sure, I’ve been running ‘businesses’ since I was in school, it has always been a passion of mine. When I finished college at 18, I realised that my best chance of running a successful business was to learn a trade and then set out on my own, so I joined the advertising industry as a graduate ( without actually graduating) at IPC Media. I was selling classified ads, which is a great learning ground for sales people and the launch pad for many successful entrepreneurs. I knew I had to get into smaller companies to pick up more business focused experience, so I went to a 15 men agency in London a year or so later and then a 5 men mobile content business in Sydney at 21, which was a great learning curve.

Who was your inspiration growing up and why?

Well, I had a few depending at what age…Early doors it was Ryan Giggs! My parents were most certainly inspirational for me throughout my life. Nowadays, as a young entrepreneur, I’m inspired by Zuckerberg and how he has achieved so much at such a young age, which I think is fantastic. Rupert Murdoch, Steve Jobs and Richard Branson are big names I’ve always been in awe of for successfully growing such strong businesses internationally.

Let’s talk about Fetch Media, tell me how the idea came about?

For me, it was as much about what I knew I could do well as opposed to just being a gap in the market. We’ve been fortunate for it to be both of these things and finally, a massive growth area. By the time I was 21, I had sold advertising, worked in a media agency and become a mobile marketing client. Mobile was booming in 2009 with both the iPhone and Android gaining traction in most markets – it just felt right.

What were you doing before you founded Fetch Media?

My last role was for a mobile content company in Sydney called Consumer First. I relocated there to run their media and product in the UK and US. It was there where I learnt the intricacies of mobile technology and how to apply it to marketing. It’s a great company and I’m still good friends with the chaps which founded it.

What is Fetch Media? What do you guys do?

Fetch is a mobile marketing agency. Our job is to help major businesses succeed in mobile marketing and advertising. We provide strategy, media planning & buying, creative and analytics. We are appointed by some fantastic brands including Expedia, Hotels.com, William Hill and Sony Music.

Take me back to the early days of running the business, what difficulties did you face?

Many! The early days when it was just me at Fetch, the clients were less willing to invest, so trying to get new clients was tough. It was a case of some serious cold calling! Hiring people was difficult too – we weren’t a super charged VC backed start-up and mobile wasn’t as big then so it was a tough sell, but it is paying off for those that took the plunge as we have since grown the most established firm in the UK!

What is your business model?

We have three different models: a retainer for those clients who require certain services on an on-going basis, a fee based model for a project we might do, and a commission model for the media side of our business so it is pretty performance based as clients will only increase spends if the media is working well.

What makes Fetch Media different from any service out there?

What makes us truly unique is our blend of both creative and performance related approach. Often in the marketing world, these two repel, but our team like to measure every single penny spent on advertising whilst also giving our clients some serious stand-out in the creative and planning we do. You often find agencies focused on the sexy stuff or performance – we do both and most often in unison.

What are the most crucial things you have done to grow your business?

Launching our first US office at the end of last year was a big one. It’s a huge market and there are so many businesses that need some expert advice on their mobile marketing. More recently, putting two industry heavy weights on our board has also been a catalyst for us.

Are you guys profitable?

Yes, we had an extended year one, which we managed to make a profit in. Our second year-end is almost upon us, and we are on track to deliver an increase of profit by over 350%.

Have you raised any money to build or grow the business or has it been purely bootstrapped?

100% bootstrapped and that’s something we’re proud of. We’ve had plenty of investors who have wanted to get involved and we feel that we have built a solid and sustainable business by going through the graft and growing organically. We’re now in a position where we can be more bullish. That said, it might not always be the case, but it’s been the best route to date.

Looking back to when you started the company, Would you say the business has changed from the first initial idea?

Yes, and I would expect the business to continue to evolve. I don’t like standing still. We’re innovators and we must keep moving forward. That doesn’t mean we’ll start selling trainers, of course!

What has been the highlight of your entrepreneurial journey so far?

This one is easy. We won three awards in November last year and collecting the final one, which was ‘The Best Marketing Company in Mobile 2011’ was definitely the highlight. It was so important to us because the whole team have worked so hard and it was the recognition we deserved. We were up against not only our closest rivals but some industry leading PLCs. We were also the newest company on the shortlist so it was brilliant fun – of what I can remember, anyway…!

What can we be expecting from your company in 2012?

Expect to see some more media firsts from our innovations, some more awards, a growing client list and a bigger presence in both the UK and the US.

What three pieces of advice would you offer entrepreneurs starting out today?

Fail quickly! Not everything works out and everyone makes mistakes but nip them in the bud ASAP. Don’t make the same mistake twice and listen to your gut.

Are you thinking about buying time or at least something close to it – Minutesforsale allows companies and individuals to buy time for every minute of the day.

So basically this is how it works – You pay a small one off fee and get your will website displayed on the Minutesforsale homepage for the amount of time purchased.

Meet Jason Ting, the 20 year old founder behind the project, Jason is currently studying at the London School of Economics.

Hi Jason, How are you doing, great to have you on YHP?

I am great thank you, though it’s mainly down to the sun being out right now. It’s great to be on YHP, thanks for having me.

Could you quickly give us some background information about yourself?

Sure thing. My name is Jason Ting, I’m 20 years old and I’ve lived in London all my life. I’m half Chinese hence my awesome surname, and why I look half Chinese. I have numerous interests which include sports (football and gym more specifically, but really its an endless list), reading, cooking (I can make quite the dessert), movies, restaurants… You get the picture. Oh and I’m a massive fan of American Pie.

Tell me how you got into business? Were you exposed to entrepreneurship as a child?

Well both my eldest brother and my father are self-employed, so I’ve always been surrounded by people who work for themselves to fit the lifestyle they like. So really for a long time I’ve felt I could try and do something different with my life, something that I could call my own to push as far as I can. As well as that I am currently studying at the London School of Economics, so I continue to be in an environment that is business orientated.

So tell me about Minutesforsale and how the idea came about?

Well I found myself surrounded by mates who were busy doing part-time jobs to make their way through university, or to help pay off their student loan. And so I thought now was as good a time as any to try and create a unique way of paying mine off. I wanted to create something that had never been done before. Having been flooded with advertising my whole life it made sense to start thinking about possible ideas in that field. In the end I thought of time, and from there I challenged myself to sell something almost unsellable that no one had tried before.

What is Minutesforsale and how does it work? What are you trying to solve?

Minutesforsale is a website that I have created and the basic concept of the website is that I’m trying to sell time. I know, it sounds strange just hearing it. But basically I am allowing companies and individuals to buy every minute of the day. Every minute of every hour.

They pay just a small one off fee and I will display their website on my homepage at that exact time, every single day. I’m not just displaying their advert, but their actual website in full, for one minute a day. They also get a permanent link in the timetable page where people can click on any time of day and see who has purchased it.

How have you been able to fund the business?

Well it didn’t cost too much to start up. Just the web hosting and things like that. I had enough saved up to cover those things. I learnt to code the website for free online. So thankfully my costs have been quite minimal.

What is your business model?

When I started, I had the price at a one off fee of £10 per minute. With every hour sold, I am increasing the price slowly. So after every 60 minutes sold, the price goes up. It will keep going up every hour until all the minutes are gone.

A nice added feature I have is that once all the minutes have sold out, people will then be able to re-sell their advertising spot if they wish to do so. Imagine you purchase a minute now, where the current price is £20, and by the time the last hour sells, the price is £240 we’ll say as an example.

You can then sell your minute for £240 to someone else, and you will get your initial fee of £20 back, plus half of the difference as profit. So for the £20 minute you bought, you will get back £130 if you sold later on.

It’s not my intention to have people selling all their minutes, but it’s a nice added bonus and maintains value in the spot they purchased.

What has been your most memorable moment so far?

Well being the fan of page 3 that I am, it has got to be getting a big article written about me on page 3 of a newspaper!

What can we be expecting from your company in 2012?

Well so far I’ve sold just under two hours in a couple of weeks. With a little more exposure and more people becoming aware of my site, I’m hoping to sell out every minute of time in 2012. That would be a great achievement, but there’s a long way to go yet.