Five questions for: Jordan Daykin, CEO of GripIt and VPS Group

GripIt is a DIY fixings business that exports to more than 34 countries worldwide

914_MW_P37_small_business_jordan-daykin_01

What does your business do?

GripIt is a DIY fixings business that exports to more than 34 countries worldwide. We make in house a revolutionary range of plasterboard fixings capable of holding up to 180kg, making them suitable for everything from curtains to boilers. Since starting the business when I was 14, I have grown it year on year with products stocked in more than 5,000 UK stores, including Wickes and Homebase. We are always adding to our product line to ensure we are the go-to brand for DIY fixings and tools.

In January 2018 I acquired and became CEO of automotive industry heavyweight VPS Group. We are the leading supplier for the automotive sector and have expanded our revenue streams to include a booming number-plate manufacturing arm. Our customers include Toyota, Isuzu Motors and GBA Group.

What has been your company's greatest achievement so far?

GripIt has won the trust of more than 5,000 UK stores and 15,000 stores across Australia, New Zealand and the US. We have also conducted numerous fundraising rounds for GripIt, including a £2m crowdfunding campaign that raised £2.14m in just five days.

What has been your biggest challenge?

When I was 13 I was forced to quit school after being bullied by a teacher. I'd never performed well academically largely because my mind was on business but I felt victimised. According to my teacher, I was making the biggest mistake of my life when I decided to leave but today I couldn't disagree more.

What are your plans for hitting your targets?

Over the coming year I will be focusing on applying the business lessons I learnt from GripIt at VPS Group to raise funds, broaden our customer base and hit our growth targets. I will also continue to diversify GripIt's range of products in order to expand the company further into Australia and America.

What's the one piece of advice you'd give fellow entrepreneurs?

Your greatest tool is knowledge. It will help you identify when you're on to a good idea and anticipate obstacles your business may face. Understand your company's growth potential, weaknesses and strengths, and where it sits within the wider market. Always ensure you keep learning through research and reflection.

Recommended

Elon Musk: the space oddity seeking world domination
People

Elon Musk: the space oddity seeking world domination

Elon Musk, the electric-car and space-travel pioneer who wants to move to Mars is now the world’s richest man. If he seems delusional, that’s all part…
16 Jan 2021
Adar Poonawalla: the vaccine prince who will save the world
People

Adar Poonawalla: the vaccine prince who will save the world

Adar Poonawalla, the chief of the world’s biggest vaccine manufacturer by volume, has an ambitious plan to rescue us all from Covid-19. The future for…
11 Jan 2021
Three women CEOs who prove that diversity is the key to success
Entrepreneurs

Three women CEOs who prove that diversity is the key to success

Tom Saunders looks at how three very different women – Shahrzad Rafati, Trinny Woodall and Anne Boden –  have grown successful businesses.
28 Dec 2020
The MoneyWeek Podcast: A look back on a peculiar year, ahead to the recovery, and what to buy for 2021
Stockmarkets

The MoneyWeek Podcast: A look back on a peculiar year, ahead to the recovery, and what to buy for 2021

Merryn talks to John talk about how the last nine months have affected the economy and the markets, and to to two entrepreneurs – Tommy Crooks of the …
17 Dec 2020

Most Popular

Prepare for the end of the epic bubble in US stocks
US stockmarkets

Prepare for the end of the epic bubble in US stocks

US stocks are as expensive as they’ve ever been. How can you prepare your portfolio for a bubble bursting?
18 Jan 2021
Bitcoin: fool’s gold or the new gold?
Bitcoin

Bitcoin: fool’s gold or the new gold?

With bitcoin hitting new highs last week, and close to becoming a mainstream investment, is it really gold for the 21st century?
15 Jan 2021
It's not just the UK – we're seeing pandemic housing booms across the globe
Property

It's not just the UK – we're seeing pandemic housing booms across the globe

Soaring house prices aren’t just a UK thing, they’re a worldwide phenomenon. And it’s no coincidence – the underlying cause is much the same. John Ste…
18 Jan 2021