In May 2020, like many of us, my wife Sarah-Jane and I found ourselves in unchartered territory as we found ourselves navigating our first pandemic. With our normal 9 to 5s in disarray, we very quickly realised that there was only so much bread we could make in lockdown. Sorry to take you back to the dreaded days of the covid, but it is the very reason we are here today. We found ourselves in lockdown one day needing to send a gift to a male friend of ours who was turning 31 (no biggy), which meant that we were looking for a simple gift with a wine and a treat or two. Nothing that was going to break the bank, but we still wanted the gift to be fun and boutique. We scoured Google trying to find the perfect gift hamper, but to our surprise there was nothing that tickled our fancy, zero, zip! Now, hear us out – the gift hamper industry was, and is, saturated. However, we simply couldn’t find something that was up our alley at that point in time. We were looking for something that had a collection of cool local brands, as opposed to white-labelled products, something that was beautiful and fun, yet gender-neutral. We wanted quality over quantity.  Six weeks later Good Day People was born.
From the chaos of launching a business during Covid we had a determination to make something extraordinary out of challenging times, little did we know that the chaos had only just begun. I want to share some learnings and insights on finding hidden opportunities when things get tough, leveraging your strengths and resources, and what we wish we knew in the building of a business. Â
Seek Out Opportunities During Challenging Times
When the pandemic hit, everything paused. But instead of wallowing in frustration, we saw an opportunity not only in a business idea but rather an opportunity of more time than we have ever had before. We noticed that there was a gap in the online gift market for gifts that catered to a younger demographic and so, decided to do something different. Good Day People was born, offering boutique, unique, and, bloody brilliant gifts that supported Australian businesses.
The lesson for us was when life throws pandemics, economy downturns, etc., there is always some new opportunity or gaps in the market. What do people need or want that they can’t get right now? How can you fill that void? Sometimes, the best ideas come from the most unexpected places.
Tapping into Your Strengths and Resources
Starting a business in the middle of a global crisis might sound crazy, but we knew with our combined skills and resources that we could make something good. Sarah-Jane, with her background in design and photography, created a stunning visual story for our brand. I, with my experience as a food stylist and cookbook author, focused on curating the best local Australian products and crafting our brand voice. It’s amazing what can be achieved when you have complimentary skills.
We transformed our skills and resources into a business that not only stands out but also supports local businesses. Our quirky, bright canisters filled with everything from wine and spirits to kitchen gadgets and beauty products quickly became a hit very quickly, too quicky. Our original goal was to sell a hamper day, after the first 12 months of trading we had sold over 10,000+ gift hampers Australia wide.
So, what’s the takeaway? Leverage what you’re good at. Identify the strengths and resources you already have and think about how you can use them to your advantage. You might be surprised at what you can achieve with what’s already at your fingertips and who may be complimentary to what you offer.
What Advice Would We Give To New Business People?
If we could go back and have a chat with our younger selves, we would say:
1. Embrace Uncertainty
Life is full of uncertainties, and that’s okay. Don’t let fear of the unknown hold you back. Embrace it, and use it as a driving force to innovate and create. There will be setbacks. Some days will be tougher than others. But resilience is key. Stay focused on your goals or mission and keep pushing forward, even when it feels like everything is against you.
2. Be Agile, Not Fragile
I once heard a physio say you need to keep agile otherwise you will get fragile. Never stop learning. Whether it’s a new skill, a piece of advice from a mentor, or feedback from customers, suppliers or business partners, keep an open mind and be willing to be agile and pivot quickly.
3. Cash is King
We’ve all heard the saying “cash is king,” and trust me, it’s true. In the early days of Good Day People, we faced some serious cash flow challenges. Running out of cash is a tough reality many start-ups face, especially self-funded ones. Accelerated growth, especially when you aren’t ready for it, can be a blessing and a curse. We had to get creative and make some hard decisions to sustain the unexpected growth we had during the lockdowns. Given supply and demand, we were able to increase prices, negotiate better rates with our suppliers, get 30 day payment terms and we also ordered ourselves a business credit card to give us an additional 30 days. We were conservative with taking on risk such as increasing our overheads too quickly as we did not know what lied ahead of us beyond the pandemic. Keeping lean has meant that even as we’ve come out of lockdown and into a much slower economic climate, we’ve still managed to achieve a stable revenue stream that is growing year on year.
4. Build a Brand That Customers Love
We carved out a niche in our industry with a brand that has a fun voice and personality and a clear mission. We champion our amazing local brands. We are committed to doing better for the environment. We love on our customers and we take them on the journey.
5. Think Big
When times are tough, it’s easy to feel overwhelmed and discouraged. But remember, nearly all challenges can also be opportunities in disguise. By seeking out hidden opportunities, tapping into your strengths, and staying resilient, you can turn even the toughest times into a launchpad for success. At Good Day People, we turned a pandemic-induced pause into a thriving business that’s all about mobilising generosity and making it a Good Day for others, one bougie gift at a time.
Written by Jacob Leung, Co-Founder of Good Day People and keynote speaker at Online Retailer Conference in Sydney, 24th July. Jacob’s session will focus on ‘When the Going Gets Tough, the Tough Gets Going’ with more information available here.