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Plus: Our Latest StartUp Loan Recipient ❤️




How to Build a Brand 
<https://mailchi.mp/virginstartup/how-are-restaurant-startups-surviving-plus-how-to-negotiate-247517?e=d4e40c46c7> 
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Here's the latest roundup from Virgin StartUp 👍


Whilst you're making things happen, we're finding stories to inspire you and 
the tools to help you succeed. This email shouldn't take you longer than 5 
minutes to read.



 <https://virginstartup.us12.list-manage.com/track/click?u=6e873aab9f76e7f4db2e0500c&id=91b42f8cd1&e=d4e40c46c7>





Virgin StartUp Of The Week: The Clubhouse Coffee And Cycle ☕️ 🚲


Here at Virgin StartUp we're really proud of the businesses we support so 
wanted to take the opportunity to give them a shout out on our newsletter 
and show you what the entrepreneurs we work with are doing.

We support all kinds of businesses at Virgin StatUp, from high-growth tech 
startups to local shops and everything in between.

Here's a SHOUT OUT to the latest business to receive a Start Up Loan from 
us! It’s The Clubhouse Coffee and Cycles 
<https://virginstartup.us12.list-manage.com/track/click?u=6e873aab9f76e7f4db2e0500c&id=9dbadf5a41&e=d4e40c46c7> 
  - a coffee shop based in Skipton, North Yorkshire. Give them a visit for 
coffee and light bites from high quality, locally sourced products and 
ingredients, coupled with cool looking bikes by a brand called Factor.

We're happy to have supported these guys with a Start Up Loan and wish all 
the best to founder Kane Pulford-Roberts. He was inspired to start this 
business with his wife after traveling through Australia and New Zealand and 
falling in love with the cool coffee house culture and wanted to create that 
in his hometown. From everyone in the Virgin StartUp community: GOOD LUCK!

READ MORE ABOUT KANE 
<https://virginstartup.us12.list-manage.com/track/click?u=6e873aab9f76e7f4db2e0500c&id=ae561226d7&e=d4e40c46c7> 
& THE CLUBHOUSE






Would you let entrepreneurs run their business from your kitchen table?  🏠 
🙋


What was the reason you wanted to start a business? For lawyer Laila Dupuy, 
it was her divorce. “After being married for 10 years, and having four 
children, my husband just left to be with a woman in Dubai,” she told the 
Guardian. “That really catapulted me into action.”

Dupuy started doing freelance legal work, reviewing contracts and leases for 
friends. But like many entrepreneurs we know, she got bored with working 
from home or in cafes, and found co-working spaces too pricey.

“There were so many times I just wanted to run something past someone else. 
I missed the community and sense of interaction that you get from being in 
an office – even though I didn’t want to be stuck in an office. I thought, 
why can’t I create a co-working space from home? And it just built from 
there.”

Her app, Kitchin Table 
<https://virginstartup.us12.list-manage.com/track/click?u=6e873aab9f76e7f4db2e0500c&id=430eb5002a&e=d4e40c46c7> 
, aims to build a network of self-employed women happy to host and attend 
female-only co-working groups in their homes. Users can search based on 
location, skill or industry, and time, and there is a review system to rate 
hosts, who set their own prices. Dupuy expects most will charge between 
£10-£15 per day, putting it in line with many mid-price co-working spaces. 
Currently, Kitchin Table deducts 10% of that as a fee.


READ MORE 
<https://virginstartup.us12.list-manage.com/track/click?u=6e873aab9f76e7f4db2e0500c&id=1f46b81dc7&e=d4e40c46c7>





Did you ever hear the story of the entreprenuer who lost £1bn in a matter of 
minutes? 💰💸


Have you ever heard the story of an entrepreneur, Gerald Ratner? We found 
this tale from The Hustle 
<https://virginstartup.us12.list-manage.com/track/click?u=6e873aab9f76e7f4db2e0500c&id=169d48e374&e=d4e40c46c7> 
and found it so fascinating we wanted to share.

In April 1991, Ratner took to the stage to deliver a keynote to 6,000 
high-powered business people and journalists at London’s Royal Albert Hall, 
he had no idea his speech would signal the end of his company.

His incredible success had led him to this moment. He’d inherited a 
struggling chain of jewelry stores and turned it into a £1bn enterprise in 
less than a decade.

He’d flipped an elitist industry on its head by making earrings and rings 
for the working class. And in the process, he’d built his company, Ratners 
Group, into the UK’s biggest, and most recognizable, jewellery chain. 
<https://virginstartup.us12.list-manage.com/track/click?u=6e873aab9f76e7f4db2e0500c&id=0fe20f5162&e=d4e40c46c7>

But in a matter of seconds on that fateful night in April, a few jokes would 
destroy it all.



The rise of the working class jeweler



Gerald Ratner joined his father’s small, jewellery business in 1965, at the 
age of 15, after being expelled from school for “being too stupid.” He spent 
his youth cleaning up the shop, running errands, and getting to know the 
“grass roots of the business.”

When he inherited the company, Ratners Group (AKA “Ratners”), in 1984, it 
consisted of 120 bland, traditional storefronts, and was posting annual 
losses of £350k.

As a child, Ratner had learned a valuable lesson by observing London’s 
street shops: the vendors 
<https://virginstartup.us12.list-manage.com/track/click?u=6e873aab9f76e7f4db2e0500c&id=a0709ecd0b&e=d4e40c46c7> 
who “shouted the loudest and had the most garish, eye-catching displays” 
landed the most sales. He decided to employ the same strategy at Ratners.

Within months, all Ratners locations were plastered with vibrant orange and 
red posters with all-caps pitches like “LAST CHANCE — MEGA RED STAR SALE!” 
and “SALE SALE SALE: HALF PRICE!” Everything in the window was clearly 
marked with a price tag.



Disrupting the market



Prior to the 1980s, jewellery had largely been elitist. The average item 
cost over £300 — and jewellers thrived on an aura of exclusivity and 
prestige.

Ratner made a decision to market his chain toward a wider working class 
demographic, offering earrings, bracelets, and rings for an average price of 
just £20, and as low as £1. “I put the earrings and chains in the front of 
the window and diamond rings at the back, and played pop music,” he later 
told the Financial Times.

This approach came at a cost: other jewellers - and the press - constantly 
berated Ratners for selling “cheap” and “tacky” products.

But Ratner’s strategy paid off: by 1990, he grew Ratners from 120 to more 
than 2k stores, captured 50% of the UK’s jewellery market, and had annual 
sales of £1.2B — £125m of which was profit.

In quick order, Ratners became a household name and the great democratizer 
of a previously stuffy industry.



The speech that broke the businessman’s back



In 1991, Ratner’s success earned him an invitation to speak at the 
prestigious Institute of Directors 
<https://virginstartup.us12.list-manage.com/track/click?u=6e873aab9f76e7f4db2e0500c&id=bc1c412c86&e=d4e40c46c7> 
annual convention.

Leading up to his speech, Ratner passed a draft by a public speaking 
consultant, and was given some advice: “I think you should put in a couple 
of jokes,” the man told him. “People like your jokes.” Unfortunately, Ratner 
took it to an extreme. 
<https://virginstartup.us12.list-manage.com/track/click?u=6e873aab9f76e7f4db2e0500c&id=d0f3cb3fcd&e=d4e40c46c7>

On the night of April 23, 1991, Ratner began his speech (in full here) 
<https://virginstartup.us12.list-manage.com/track/click?u=6e873aab9f76e7f4db2e0500c&id=27916bee04&e=d4e40c46c7> 
innocently enough. Then, about 3 minutes in, he dropped several brutally 
honest jokes.

“Ratners doesn’t represent prosperity — and come to think of it, it has very 
little to do with quality as well,” he began. “We do cut-glass sherry 
decanters complete with six glasses on a silver-plated tray that your butler 
can serve you drinks on, all for £4.95. People say, ‘How can you sell this 
for such a low price?’ I say, because it’s total crap.”

Then, several minutes later, just for good measure: “We even sell a pair of 
[gold] earrings for under £1,” he said. “Some people say, ‘That's cheaper 
than a prawn sandwich!’...I have to say, the sandwich will probably last 
longer than the earrings.”

The next morning, Ratner awoke to terrifying news: his comments had made 
national headlines to the effect of: “JEWELRY CEO CALLS HIS OWN PRODUCTS 
‘CRAP.’” TheSunday Times dubbed him “Gerald Crapner” — a nickname that 
caught on with disgruntled ex-customers.

Initially, Ratner tried to play it off by featuring special in-store 
promotions that put a “humorous twist” on his remarks — but within a few 
weeks, it was clear that what he’d said had taken an irreparable toll on his 
business.
The downfall

Within a few days of the speech, Ratners Group shares dropped by £500 
million (US$1.8B today); by the end of 1991, its stock was down 80%.

One-time enthusiastic customers boycotted the brand and Ratners, which was 
quickly losing sales volume, was forced to close down hundreds of stores and 
lay off a hefty percentage of its 25k-person workforce.

The company claimed there had been a “shift in consumer spending habits,” 
and that theongoing recession had finally caught up to its bottom line. But 
stock charts show thecompany suffered clear consequences from Ratner’s 
speech.

In November of 1992, Ratner was let go as CEO of Ratners Group. The day he 
left, he sold his shares for “pittance” to pay off the £1B (US$1.3B) he owed 
the bank, and walked away with nothing.
The Rise

Ratner eventually made an improbable comeback. In 1997, he took out a £155k 
loan on his house, built up a health club business, and sold it for £3.9m . 
He then used the profits to start an online jewellery company. (The Ratners 
Group rebranded as Signet in 1993; today, it is the largest diamond retailer 
in the world.)

But Ratner is unlikely to ever live down his ill-timed remarks nearly 3 
decades ago.

‘It doesn’t seem to matter that in the ‘80s I was Britain’s largest 
jeweller, with over 50% of the UK market,” he told This Is Money. “My 
obituary will be all about being a disaster.”






Check out the latest events coming up at Virgin StartUp:


September 4th
 👊 Masterclass: 
<https://virginstartup.us12.list-manage.com/track/click?u=6e873aab9f76e7f4db2e0500c&id=38d006c8a2&e=d4e40c46c7> 
How to buil 
<https://virginstartup.us12.list-manage.com/track/click?u=6e873aab9f76e7f4db2e0500c&id=9ef33b40ad&e=d4e40c46c7> 
d a knockout brand 
<https://virginstartup.us12.list-manage.com/track/click?u=6e873aab9f76e7f4db2e0500c&id=9044e6761a&e=d4e40c46c7> 
(London)

September 6th
 👩‍👩‍👧‍👦 Masterclass: 
<https://virginstartup.us12.list-manage.com/track/click?u=6e873aab9f76e7f4db2e0500c&id=b927d1f397&e=d4e40c46c7> 
How to 
<https://virginstartup.us12.list-manage.com/track/click?u=6e873aab9f76e7f4db2e0500c&id=754e938ca3&e=d4e40c46c7> 
mastermind an equity crowdfunding campaign 
<https://virginstartup.us12.list-manage.com/track/click?u=6e873aab9f76e7f4db2e0500c&id=263a651b1f&e=d4e40c46c7> 
(London)

September 11th
 ✅ Masterclass: Building your sales strategy 
<https://virginstartup.us12.list-manage.com/track/click?u=6e873aab9f76e7f4db2e0500c&id=d3f5f4eb9e&e=d4e40c46c7> 
(London)

September 13th
 📱 Masterclass: 
<https://virginstartup.us12.list-manage.com/track/click?u=6e873aab9f76e7f4db2e0500c&id=c86311aca4&e=d4e40c46c7> 
Developing your social media strategy 
<https://virginstartup.us12.list-manage.com/track/click?u=6e873aab9f76e7f4db2e0500c&id=224381ece0&e=d4e40c46c7> 
(London)

September 18th
 🍕Meetup: 
<https://virginstartup.us12.list-manage.com/track/click?u=6e873aab9f76e7f4db2e0500c&id=1d960f0e9a&e=d4e40c46c7> 
How to run a food startup 
<https://virginstartup.us12.list-manage.com/track/click?u=6e873aab9f76e7f4db2e0500c&id=791ec9b263&e=d4e40c46c7> 
(London)October 4th
 🙌 Doing Business With Big Business 
<https://virginstartup.us12.list-manage.com/track/click?u=6e873aab9f76e7f4db2e0500c&id=1af17ad1b9&e=d4e40c46c7> 
(London)




MORE EVENTS 
<https://virginstartup.us12.list-manage.com/track/click?u=6e873aab9f76e7f4db2e0500c&id=8975e1f428&e=d4e40c46c7>



That's your lot for now! Remember, you can hit reply at any time to get in 
touch.

Have a great weekend! 🙌

Mike

Mike Ruffles
Digital and Social Manager, Virgin StartUp

  <https://gallery.mailchimp.com/6e873aab9f76e7f4db2e0500c/images/0c8d7aaa-b3f7-4f2f-a3e7-a6ec3ae00e08.png>






 <https://virginstartup.us12.list-manage.com/track/click?u=6e873aab9f76e7f4db2e0500c&id=34f4f2130b&e=d4e40c46c7>






 <https://virginstartup.us12.list-manage.com/track/click?u=6e873aab9f76e7f4db2e0500c&id=b08e958c6c&e=d4e40c46c7>


 <https://virginstartup.us12.list-manage.com/track/click?u=6e873aab9f76e7f4db2e0500c&id=57d3220381&e=d4e40c46c7>


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                            <div style=3D"text-align: center;"><span =
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style=3D"padding-top: 0;padding-right: 18px;padding-bottom: =
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                            <h1 class=3D"null" style=3D"text-align: =
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roundup from Virgin StartUp =F0=9F=91=8D</h1>

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		=09
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                            <em>Whilst you're making things happen, =
we're finding stories to inspire you and the tools to help you succeed. =
This email shouldn't take you longer than 5 minutes to read.</em>
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                                    <a =
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				<![endif]-->
                <table style=3D"max-width: 100%;min-width: =
100%;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: =
0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" =
class=3D"mcnTextContentContainer" width=3D"100%" cellspacing=3D"0" =
cellpadding=3D"0" border=3D"0" align=3D"left">
                    <tbody><tr>

                        <td class=3D"mcnTextContent" style=3D"padding: =
0px 18px 9px;color: #222222;font-family: Arial, &quot;Helvetica =
Neue&quot;, Helvetica, sans-serif;font-size: 14px;font-style: =
normal;font-weight: normal;line-height: 150%;text-align: =
left;mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;word-break: break-word;" =
valign=3D"top">

                            <h2 class=3D"null" style=3D"display: =
block;margin: 0;padding: 0;color: #202020;font-family: 'Merriweather =
Sans', 'Helvetica Neue', Helvetica, Arial, sans-serif;font-size: =
22px;font-style: normal;font-weight: bold;line-height: =
125%;letter-spacing: normal;text-align: left;">Virgin StartUp Of The =
Week: The Clubhouse Coffee And Cycle =E2=98=95=EF=B8=8F =
=F0=9F=9A=B2&nbsp;</h2>
<br>
Here at Virgin StartUp we're really proud of the businesses we support =
so wanted to take the opportunity to give them a shout out on our =
newsletter and show you what the entrepreneurs we work with are =
doing.<br>
<br>
We support all kinds of businesses at Virgin StatUp, from high-growth =
tech startups to local shops and everything in between.<br>
<br>
Here's a <strong>SHOUT OUT</strong>&nbsp;to the latest business to =
receive a Start Up Loan from us! It=E2=80=99s <a =
href=3D"https://virginstartup.us12.list-manage.com/track/click?u=3D6e873a=
ab9f76e7f4db2e0500c&id=3D9dbadf5a41&e=3Dd4e40c46c7" target=3D"_blank" =
style=3D"mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;color: #2BAADF;font-weight: =
normal;text-decoration: underline;">The Clubhouse Coffee and Cycles</a> =
- a coffee shop based in Skipton, North Yorkshire. Give them a visit for =
coffee and light bites from high quality, locally sourced products and =
ingredients, coupled with cool looking bikes by a brand called =
Factor.<br>
<br>
We're happy to have supported these guys with a Start Up Loan and wish =
all the best to founder Kane Pulford-Roberts. He was inspired to start =
this business with his wife after traveling through Australia and New =
Zealand and falling in love with the cool coffee house culture and =
wanted to create that in his hometown. From everyone in the Virgin =
StartUp community: GOOD LUCK!
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0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" =
width=3D"100%" cellspacing=3D"0" cellpadding=3D"0" border=3D"0">
    <tbody class=3D"mcnButtonBlockOuter">
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            <td style=3D"padding-top: 0;padding-right: =
18px;padding-bottom: 18px;padding-left: 18px;mso-line-height-rule: =
exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" =
class=3D"mcnButtonBlockInner" valign=3D"top" align=3D"center">
                <table class=3D"mcnButtonContentContainer" =
style=3D"border-collapse: separate !important;border-radius: =
3px;background-color: #DD2929;mso-table-lspace: 0pt;mso-table-rspace: =
0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" =
width=3D"100%" cellspacing=3D"0" cellpadding=3D"0" border=3D"0">
                    <tbody>
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                            <td class=3D"mcnButtonContent" =
style=3D"font-family: Arial;font-size: 16px;padding: =
15px;mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;" valign=3D"middle" =
align=3D"center">
                                <a class=3D"mcnButton " title=3D"READ =
MORE ABOUT KANE &amp; THE CLUBHOUSE" =
href=3D"https://virginstartup.us12.list-manage.com/track/click?u=3D6e873a=
ab9f76e7f4db2e0500c&id=3Dae561226d7&e=3Dd4e40c46c7" target=3D"_blank" =
style=3D"font-weight: bold;letter-spacing: normal;line-height: =
100%;text-align: center;text-decoration: none;color: =
#FFFFFF;mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;display: block;">READ MORE ABOUT =
KANE &amp; THE CLUBHOUSE</a>
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100%;-webkit-text-size-adjust: 100%;background-color: =
#ffffff;background-image: none;background-repeat: =
no-repeat;background-position: center;background-size: cover;border-top: =
0;border-bottom: 0;padding-top: 0;padding-bottom: 0;"><table =
border=3D"0" cellpadding=3D"0" cellspacing=3D"0" width=3D"100%" =
class=3D"mcnDividerBlock" style=3D"min-width: 100%;border-collapse: =
collapse;mso-table-lspace: 0pt;mso-table-rspace: =
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cellpadding=3D"0" cellspacing=3D"0" width=3D"100%" style=3D"min-width: =
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</table><table class=3D"mcnTextBlock" style=3D"min-width: =
100%;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: =
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width=3D"100%" cellspacing=3D"0" cellpadding=3D"0" border=3D"0">
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            <td class=3D"mcnTextBlockInner" style=3D"padding-top: =
9px;mso-line-height-rule: exactly;-ms-text-size-adjust: =
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				<![endif]-->
                <table style=3D"max-width: 100%;min-width: =
100%;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: =
0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" =
class=3D"mcnTextContentContainer" width=3D"100%" cellspacing=3D"0" =
cellpadding=3D"0" border=3D"0" align=3D"left">
                    <tbody><tr>

                        <td class=3D"mcnTextContent" style=3D"padding: =
0px 18px 9px;color: #222222;font-family: Arial, &quot;Helvetica =
Neue&quot;, Helvetica, sans-serif;font-size: 14px;font-style: =
normal;font-weight: normal;line-height: 150%;text-align: =
left;mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;word-break: break-word;" =
valign=3D"top">

                            <h2 class=3D"null" style=3D"display: =
block;margin: 0;padding: 0;color: #202020;font-family: 'Merriweather =
Sans', 'Helvetica Neue', Helvetica, Arial, sans-serif;font-size: =
22px;font-style: normal;font-weight: bold;line-height: =
125%;letter-spacing: normal;text-align: left;">Would you let =
entrepreneurs run their&nbsp;business&nbsp;from your kitchen =
table?&nbsp; =F0=9F=8F=A0 =F0=9F=99=8B&nbsp;&nbsp;</h2>

<p style=3D"color: #222222;font-family: Arial, &quot;Helvetica =
Neue&quot;, Helvetica, sans-serif;font-size: 14px;font-style: =
normal;font-weight: normal;line-height: 150%;text-align: left;margin: =
10px 0;padding: 0;mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;">What was the reason you wanted to =
start&nbsp;a business? For lawyer Laila Dupuy, it was her divorce. =
=E2=80=9CAfter being married for 10 years, and having four children, my =
husband just left to be with a woman in Dubai,=E2=80=9D she told the =
Guardian. =E2=80=9CThat really catapulted me into action.=E2=80=9D</p>

<p style=3D"color: #222222;font-family: Arial, &quot;Helvetica =
Neue&quot;, Helvetica, sans-serif;font-size: 14px;font-style: =
normal;font-weight: normal;line-height: 150%;text-align: left;margin: =
10px 0;padding: 0;mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;">Dupuy started doing freelance =
legal work, reviewing contracts and leases for friends. But like =
many&nbsp;entrepreneurs we know,&nbsp;she got bored with working from =
home or in&nbsp;cafes, and found co-working spaces&nbsp;too pricey.</p>

<p style=3D"color: #222222;font-family: Arial, &quot;Helvetica =
Neue&quot;, Helvetica, sans-serif;font-size: 14px;font-style: =
normal;font-weight: normal;line-height: 150%;text-align: left;margin: =
10px 0;padding: 0;mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;">=E2=80=9CThere were so many times =
I just wanted to run something past someone else. I missed the community =
and sense of interaction that you get from being in an office =E2=80=93 =
even though I didn=E2=80=99t want to be stuck in an office. I thought, =
why can=E2=80=99t I create a co-working space from home? And it just =
built from there.=E2=80=9D</p>

<p style=3D"color: #222222;font-family: Arial, &quot;Helvetica =
Neue&quot;, Helvetica, sans-serif;font-size: 14px;font-style: =
normal;font-weight: normal;line-height: 150%;text-align: left;margin: =
10px 0;padding: 0;mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;">Her app,&nbsp;<a =
data-link-name=3D"in body link" =
href=3D"https://virginstartup.us12.list-manage.com/track/click?u=3D6e873a=
ab9f76e7f4db2e0500c&id=3D430eb5002a&e=3Dd4e40c46c7" =
style=3D"mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;color: #2BAADF;font-weight: =
normal;text-decoration: underline;">Kitchin Table</a>, aims to build a =
network of self-employed women happy to host and attend female-only =
co-working groups in their homes. Users can search based on location, =
skill or industry, and time, and there is a review system to rate hosts, =
who set their own prices. Dupuy expects most will charge between =
=C2=A310-=C2=A315 per day, putting it in line with many mid-price =
co-working spaces. Currently, Kitchin Table deducts 10% of that as a =
fee.</p>

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</table><table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
width=3D"100%" class=3D"mcnButtonBlock" style=3D"min-width: =
100%;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: =
0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;">
    <tbody class=3D"mcnButtonBlockOuter">
        <tr>
            <td style=3D"padding-top: 0;padding-right: =
18px;padding-bottom: 18px;padding-left: 18px;mso-line-height-rule: =
exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" =
valign=3D"top" align=3D"center" class=3D"mcnButtonBlockInner">
                <table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
width=3D"100%" class=3D"mcnButtonContentContainer" =
style=3D"border-collapse: separate !important;border-radius: =
3px;background-color: #DD2929;mso-table-lspace: 0pt;mso-table-rspace: =
0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;">
                    <tbody>
                        <tr>
                            <td align=3D"center" valign=3D"middle" =
class=3D"mcnButtonContent" style=3D"font-family: Arial;font-size: =
16px;padding: 15px;mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;">
                                <a class=3D"mcnButton " title=3D"READ =
MORE" =
href=3D"https://virginstartup.us12.list-manage.com/track/click?u=3D6e873a=
ab9f76e7f4db2e0500c&id=3D1f46b81dc7&e=3Dd4e40c46c7" target=3D"_blank" =
style=3D"font-weight: bold;letter-spacing: normal;line-height: =
100%;text-align: center;text-decoration: none;color: =
#FFFFFF;mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;display: block;">READ MORE</a>
                            </td>
                        </tr>
                    </tbody>
                </table>
            </td>
        </tr>
    </tbody>
</table><table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
width=3D"100%" class=3D"mcnDividerBlock" style=3D"min-width: =
100%;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: =
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cellpadding=3D"0" cellspacing=3D"0" width=3D"100%" style=3D"min-width: =
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0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;">
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</table><table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
width=3D"100%" class=3D"mcnTextBlock" style=3D"min-width: =
100%;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: =
0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;">
    <tbody class=3D"mcnTextBlockOuter">
        <tr>
            <td valign=3D"top" class=3D"mcnTextBlockInner" =
style=3D"padding-top: 9px;mso-line-height-rule: =
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              	<!--[if mso]>
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				<!--[if mso]>
				<td valign=3D"top" width=3D"600" style=3D"width:600px;">
				<![endif]-->
                <table align=3D"left" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" style=3D"max-width: 100%;min-width: =
100%;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: =
0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" =
width=3D"100%" class=3D"mcnTextContentContainer">
                    <tbody><tr>

                        <td valign=3D"top" class=3D"mcnTextContent" =
style=3D"padding: 0px 18px 9px;color: #222222;font-family: Arial, =
&quot;Helvetica Neue&quot;, Helvetica, sans-serif;font-size: =
14px;font-style: normal;font-weight: normal;line-height: =
150%;text-align: left;mso-line-height-rule: =
exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: =
100%;word-break: break-word;">

                            <h2 class=3D"null" style=3D"display: =
block;margin: 0;padding: 0;color: #202020;font-family: 'Merriweather =
Sans', 'Helvetica Neue', Helvetica, Arial, sans-serif;font-size: =
22px;font-style: normal;font-weight: bold;line-height: =
125%;letter-spacing: normal;text-align: left;">Did you ever hear the =
story of the entreprenuer who lost =C2=A31bn in a matter of minutes? =
=F0=9F=92=B0=F0=9F=92=B8&nbsp;</h2>

<p style=3D"color: #222222;font-family: Arial, &quot;Helvetica =
Neue&quot;, Helvetica, sans-serif;font-size: 14px;font-style: =
normal;font-weight: normal;line-height: 150%;text-align: left;margin: =
10px 0;padding: 0;mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;">Have you ever heard the story of =
an entrepreneur, Gerald Ratner? We found this tale from <a =
href=3D"https://virginstartup.us12.list-manage.com/track/click?u=3D6e873a=
ab9f76e7f4db2e0500c&id=3D169d48e374&e=3Dd4e40c46c7" target=3D"_blank" =
style=3D"mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;color: #2BAADF;font-weight: =
normal;text-decoration: underline;">The Hustle</a> and found it so =
fascinating we wanted to share.<br>
<br>
In April 1991, Ratner took to the stage to deliver a keynote to 6,000 =
high-powered business people and journalists at London=E2=80=99s Royal =
Albert Hall, he had no idea his speech would signal the end of his =
company.<br>
<br>
His incredible success had led him to this moment. He=E2=80=99d =
inherited a struggling chain of jewelry stores and turned it into a =
=C2=A31bn enterprise in less than a decade.<br>
<br>
He=E2=80=99d flipped an elitist industry on its head by making earrings =
and rings for the working class. And in the process, he=E2=80=99d built =
his company, <a =
href=3D"https://virginstartup.us12.list-manage.com/track/click?u=3D6e873a=
ab9f76e7f4db2e0500c&id=3D0fe20f5162&e=3Dd4e40c46c7" target=3D"_blank" =
style=3D"mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;color: #2BAADF;font-weight: =
normal;text-decoration: underline;">Ratners Group, into the UK=E2=80=99s =
biggest, and most recognizable, jewellery chain.</a><br>
<br>
But in a matter of seconds on that fateful night in April, a few jokes =
would destroy it all.<br>
&nbsp;</p>

<h3 class=3D"null" style=3D"display: block;margin: 0;padding: 0;color: =
#202020;font-family: 'Merriweather Sans', 'Helvetica Neue', Helvetica, =
Arial, sans-serif;font-size: 20px;font-style: normal;font-weight: =
bold;line-height: 125%;letter-spacing: normal;text-align: left;">The =
rise of the working class jeweler</h3>

<p style=3D"color: #222222;font-family: Arial, &quot;Helvetica =
Neue&quot;, Helvetica, sans-serif;font-size: 14px;font-style: =
normal;font-weight: normal;line-height: 150%;text-align: left;margin: =
10px 0;padding: 0;mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;"><br>
Gerald Ratner joined his father=E2=80=99s small, jewellery business in =
1965, at the age of 15, after being expelled from school for =
=E2=80=9Cbeing too stupid.=E2=80=9D He spent his youth cleaning up the =
shop, running errands, and getting to know the =E2=80=9Cgrass roots of =
the business.=E2=80=9D<br>
<br>
When he inherited the company, Ratners Group (AKA =
=E2=80=9CRatners=E2=80=9D), in 1984, it consisted of 120 bland, =
traditional storefronts, and was posting annual losses of =
=C2=A3350k.<br>
<br>
As a child, Ratner had learned a valuable lesson by observing =
London=E2=80=99s street shops: the <a =
href=3D"https://virginstartup.us12.list-manage.com/track/click?u=3D6e873a=
ab9f76e7f4db2e0500c&id=3Da0709ecd0b&e=3Dd4e40c46c7" target=3D"_blank" =
style=3D"mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;color: #2BAADF;font-weight: =
normal;text-decoration: underline;">vendors</a> who =E2=80=9Cshouted the =
loudest and had the most garish, eye-catching displays=E2=80=9D landed =
the most sales. He decided to employ the same strategy at Ratners.<br>
<br>
Within months, all Ratners locations were plastered with vibrant orange =
and red posters with all-caps pitches like =E2=80=9CLAST CHANCE =
=E2=80=94 MEGA RED STAR SALE!=E2=80=9D and =E2=80=9CSALE SALE SALE: HALF =
PRICE!=E2=80=9D Everything in the window was clearly marked with a price =
tag.<br>
&nbsp;</p>

<h3 class=3D"null" style=3D"display: block;margin: 0;padding: 0;color: =
#202020;font-family: 'Merriweather Sans', 'Helvetica Neue', Helvetica, =
Arial, sans-serif;font-size: 20px;font-style: normal;font-weight: =
bold;line-height: 125%;letter-spacing: normal;text-align: =
left;">Disrupting the market</h3>

<p style=3D"color: #222222;font-family: Arial, &quot;Helvetica =
Neue&quot;, Helvetica, sans-serif;font-size: 14px;font-style: =
normal;font-weight: normal;line-height: 150%;text-align: left;margin: =
10px 0;padding: 0;mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;"><br>
Prior to the 1980s, jewellery had largely been elitist. The average item =
cost over =C2=A3300 =E2=80=94 and jewellers thrived on an aura of =
exclusivity and prestige.<br>
<br>
Ratner made a decision to market his chain toward a wider working class =
demographic, offering earrings, bracelets, and rings for an average =
price of just =C2=A320, and as low as =C2=A31. =E2=80=9CI put the =
earrings and chains in the front of the window and diamond rings at the =
back, and played pop music,=E2=80=9D he later told the Financial =
Times.<br>
<br>
This approach came at a cost: other jewellers - and the press - =
constantly berated Ratners for selling =E2=80=9Ccheap=E2=80=9D and =
=E2=80=9Ctacky=E2=80=9D products.<br>
<br>
But Ratner=E2=80=99s strategy paid off: by 1990, he grew Ratners from =
120 to more than 2k stores, captured 50% of the UK=E2=80=99s jewellery =
market, and had annual sales of =C2=A31.2B =E2=80=94 =C2=A3125m of which =
was profit.<br>
<br>
In quick order, Ratners became a household name and the great =
democratizer of a previously stuffy industry.<br>
&nbsp;</p>

<h3 class=3D"null" style=3D"display: block;margin: 0;padding: 0;color: =
#202020;font-family: 'Merriweather Sans', 'Helvetica Neue', Helvetica, =
Arial, sans-serif;font-size: 20px;font-style: normal;font-weight: =
bold;line-height: 125%;letter-spacing: normal;text-align: left;">The =
speech that broke the businessman=E2=80=99s back</h3>

<p style=3D"color: #222222;font-family: Arial, &quot;Helvetica =
Neue&quot;, Helvetica, sans-serif;font-size: 14px;font-style: =
normal;font-weight: normal;line-height: 150%;text-align: left;margin: =
10px 0;padding: 0;mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;"><br>
In 1991, Ratner=E2=80=99s success earned him an invitation to speak at =
the prestigious <a =
href=3D"https://virginstartup.us12.list-manage.com/track/click?u=3D6e873a=
ab9f76e7f4db2e0500c&id=3Dbc1c412c86&e=3Dd4e40c46c7" target=3D"_blank" =
style=3D"mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;color: #2BAADF;font-weight: =
normal;text-decoration: underline;">Institute of Directors</a> annual =
convention.<br>
<br>
Leading up to his speech, Ratner passed a draft by a public speaking =
consultant, and was given some advice: <a =
href=3D"https://virginstartup.us12.list-manage.com/track/click?u=3D6e873a=
ab9f76e7f4db2e0500c&id=3Dd0f3cb3fcd&e=3Dd4e40c46c7" target=3D"_blank" =
style=3D"mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;color: #2BAADF;font-weight: =
normal;text-decoration: underline;">=E2=80=9CI think you should put in a =
couple of jokes,=E2=80=9D the man told him. =E2=80=9CPeople like your =
jokes.=E2=80=9D Unfortunately, Ratner took it to an extreme.</a><br>
<br>
On the night of April 23, 1991, Ratner began his speech <a =
href=3D"https://virginstartup.us12.list-manage.com/track/click?u=3D6e873a=
ab9f76e7f4db2e0500c&id=3D27916bee04&e=3Dd4e40c46c7" target=3D"_blank" =
style=3D"mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;color: #2BAADF;font-weight: =
normal;text-decoration: underline;">(in full here) </a>innocently =
enough. Then, about 3 minutes in, he dropped several brutally honest =
jokes.<br>
<br>
=E2=80=9CRatners doesn=E2=80=99t represent prosperity =E2=80=94 and come =
to think of it, it has very little to do with quality as well,=E2=80=9D =
he began. =E2=80=9CWe do cut-glass sherry decanters complete with six =
glasses on a silver-plated tray that your butler can serve you drinks =
on, all for =C2=A34.95. People say, =E2=80=98How can you sell this for =
such a low price?=E2=80=99 I say, because it=E2=80=99s total =
crap.=E2=80=9D<br>
<br>
Then, several minutes later, just for good measure: =E2=80=9CWe even =
sell a pair of [gold] earrings for under =C2=A31,=E2=80=9D he said. =
=E2=80=9CSome people say, =E2=80=98That's cheaper than a prawn =
sandwich!=E2=80=99...I have to say, the sandwich will probably last =
longer than the earrings.=E2=80=9D<br>
<br>
The next morning, Ratner awoke to terrifying news: his comments had made =
national headlines to the effect of: =E2=80=9CJEWELRY CEO CALLS HIS OWN =
PRODUCTS =E2=80=98CRAP.=E2=80=99=E2=80=9D TheSunday Times dubbed him =
=E2=80=9CGerald Crapner=E2=80=9D =E2=80=94 a nickname that caught on =
with disgruntled ex-customers.<br>
<br>
Initially, Ratner tried to play it off by featuring special in-store =
promotions that put a =E2=80=9Chumorous twist=E2=80=9D on his remarks =
=E2=80=94 but within a few weeks, it was clear that what he=E2=80=99d =
said had taken an irreparable toll on his business.<br>
The downfall<br>
<br>
Within a few days of the speech, Ratners Group shares dropped by =
=C2=A3500 million (US$1.8B today); by the end of 1991, its stock was =
down 80%.<br>
<br>
One-time enthusiastic customers boycotted the brand and Ratners, which =
was quickly losing sales volume, was forced to close down hundreds of =
stores and lay off a hefty percentage of its 25k-person workforce.<br>
<br>
The company claimed there had been a =E2=80=9Cshift in consumer spending =
habits,=E2=80=9D and that theongoing recession had finally caught up to =
its bottom line. But stock charts show thecompany suffered clear =
consequences from Ratner=E2=80=99s speech.<br>
<br>
In November of 1992, Ratner was let go as CEO of Ratners Group. The day =
he left, he sold his shares for =E2=80=9Cpittance=E2=80=9D to pay off =
the =C2=A31B (US$1.3B) he owed the bank, and walked away with =
nothing.<br>
The Rise<br>
<br>
Ratner eventually made an improbable comeback. In 1997, he took out a =
=C2=A3155k loan on his house, built up a health club business, and sold =
it for =C2=A33.9m . He then used the profits to start an online =
jewellery company. (The Ratners Group rebranded as Signet in 1993; =
today, it is the largest diamond retailer in the world.)<br>
<br>
But Ratner is unlikely to ever live down his ill-timed remarks nearly 3 =
decades ago.<br>
<br>
=E2=80=98It doesn=E2=80=99t seem to matter that in the =E2=80=9880s I =
was Britain=E2=80=99s largest jeweller, with over 50% of the UK =
market,=E2=80=9D he told This Is Money. =E2=80=9CMy obituary will be all =
about being a disaster.=E2=80=9D</p>

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                        <td valign=3D"top" class=3D"mcnTextContent" =
style=3D"padding: 0px 18px 9px;color: #222222;font-family: Arial, =
&quot;Helvetica Neue&quot;, Helvetica, sans-serif;font-size: =
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150%;text-align: left;mso-line-height-rule: =
exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: =
100%;word-break: break-word;">

                            <h2 style=3D"display: block;margin: =
0;padding: 0;color: #202020;font-family: 'Merriweather Sans', 'Helvetica =
Neue', Helvetica, Arial, sans-serif;font-size: 22px;font-style: =
normal;font-weight: bold;line-height: 125%;letter-spacing: =
normal;text-align: left;">Check out the latest events coming up at =
Virgin StartUp:</h2>
<br>
<strong>September 4th</strong><br>
&nbsp;=F0=9F=91=8A <a =
href=3D"https://virginstartup.us12.list-manage.com/track/click?u=3D6e873a=
ab9f76e7f4db2e0500c&id=3D38d006c8a2&e=3Dd4e40c46c7" target=3D"_blank" =
style=3D"mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;color: #2BAADF;font-weight: =
normal;text-decoration: underline;">Masterclass:&nbsp;</a><a =
href=3D"https://virginstartup.us12.list-manage.com/track/click?u=3D6e873a=
ab9f76e7f4db2e0500c&id=3D9ef33b40ad&e=3Dd4e40c46c7" target=3D"_blank" =
style=3D"mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;color: #2BAADF;font-weight: =
normal;text-decoration: underline;">How to buil</a><a =
href=3D"https://virginstartup.us12.list-manage.com/track/click?u=3D6e873a=
ab9f76e7f4db2e0500c&id=3D9044e6761a&e=3Dd4e40c46c7" target=3D"_blank" =
style=3D"mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;color: #2BAADF;font-weight: =
normal;text-decoration: underline;">d a knockout brand</a> (London)<br>
<br>
<strong>September 6th</strong><br>
&nbsp;=F0=9F=91=A9=E2=80=8D=F0=9F=91=A9=E2=80=8D=F0=9F=91=A7=E2=80=8D=F0=9F=
=91=A6 <a =
href=3D"https://virginstartup.us12.list-manage.com/track/click?u=3D6e873a=
ab9f76e7f4db2e0500c&id=3Db927d1f397&e=3Dd4e40c46c7" target=3D"_blank" =
style=3D"mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;color: #2BAADF;font-weight: =
normal;text-decoration: underline;">Masterclass:&nbsp;</a><a =
href=3D"https://virginstartup.us12.list-manage.com/track/click?u=3D6e873a=
ab9f76e7f4db2e0500c&id=3D754e938ca3&e=3Dd4e40c46c7" target=3D"_blank" =
style=3D"mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;color: #2BAADF;font-weight: =
normal;text-decoration: underline;">How to </a><a =
href=3D"https://virginstartup.us12.list-manage.com/track/click?u=3D6e873a=
ab9f76e7f4db2e0500c&id=3D263a651b1f&e=3Dd4e40c46c7" target=3D"_blank" =
style=3D"mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;color: #2BAADF;font-weight: =
normal;text-decoration: underline;">mastermind an equity crowdfunding =
campaign </a>(London)<br>
<br>
<strong>September 11th</strong><br>
&nbsp;=E2=9C=85&nbsp;<a =
href=3D"https://virginstartup.us12.list-manage.com/track/click?u=3D6e873a=
ab9f76e7f4db2e0500c&id=3Dd3f5f4eb9e&e=3Dd4e40c46c7" target=3D"_blank" =
style=3D"mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;color: #2BAADF;font-weight: =
normal;text-decoration: underline;">Masterclass: Building your sales =
strategy</a> (London)<br>
<br>
<strong>September 13th</strong><br>
&nbsp;=F0=9F=93=B1&nbsp;<a =
href=3D"https://virginstartup.us12.list-manage.com/track/click?u=3D6e873a=
ab9f76e7f4db2e0500c&id=3Dc86311aca4&e=3Dd4e40c46c7" target=3D"_blank" =
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100%;-webkit-text-size-adjust: 100%;color: #2BAADF;font-weight: =
normal;text-decoration: underline;">Masterclass: </a><a =
href=3D"https://virginstartup.us12.list-manage.com/track/click?u=3D6e873a=
ab9f76e7f4db2e0500c&id=3D224381ece0&e=3Dd4e40c46c7" target=3D"_blank" =
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100%;-webkit-text-size-adjust: 100%;color: #2BAADF;font-weight: =
normal;text-decoration: underline;">Developing your social media =
strategy</a> (London)<br>
<br>
<strong>September 18th</strong><br>
&nbsp;=F0=9F=8D=95<a =
href=3D"https://virginstartup.us12.list-manage.com/track/click?u=3D6e873a=
ab9f76e7f4db2e0500c&id=3D1d960f0e9a&e=3Dd4e40c46c7" target=3D"_blank" =
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100%;-webkit-text-size-adjust: 100%;color: #2BAADF;font-weight: =
normal;text-decoration: underline;">Meetup: </a><a =
href=3D"https://virginstartup.us12.list-manage.com/track/click?u=3D6e873a=
ab9f76e7f4db2e0500c&id=3D791ec9b263&e=3Dd4e40c46c7" target=3D"_blank" =
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100%;-webkit-text-size-adjust: 100%;color: #2BAADF;font-weight: =
normal;text-decoration: underline;">How to run a food startup</a> =
(London)=E2=80=8B<br>
<br>
<strong>October 4th</strong><br>
&nbsp;=F0=9F=99=8C&nbsp;<a =
href=3D"https://virginstartup.us12.list-manage.com/track/click?u=3D6e873a=
ab9f76e7f4db2e0500c&id=3D1af17ad1b9&e=3Dd4e40c46c7" target=3D"_blank" =
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Business</a>&nbsp;(London)

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bold;line-height: 125%;letter-spacing: normal;text-align: =
left;">&nbsp;</h2>

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                    <tbody><tr>
                        <td style=3D"mso-line-height-rule: =
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cellpadding=3D"0" width=3D"100%" style=3D"width:100%;">
				<tr>
				<![endif]-->
		=09
				<!--[if mso]>
				<td valign=3D"top" width=3D"600" style=3D"width:600px;">
				<![endif]-->
                <table style=3D"max-width: 100%;min-width: =
100%;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: =
0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" =
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                    <tbody><tr>

                        <td class=3D"mcnTextContent" =
style=3D"padding-top: 0;padding-right: 18px;padding-bottom: =
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exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: =
100%;word-break: break-word;color: #202020;font-family: =
Helvetica;font-size: 16px;line-height: 150%;text-align: left;" =
valign=3D"top">

                            <span style=3D"color:#000000"><strong>That's =
your lot for now! Remember, you can hit reply at any time to get in =
touch. </strong><br>
<br>
Have a great weekend! =F0=9F=99=8C<br>
<br>
Mike<br>
<br>
<strong>Mike Ruffles</strong><br>
Digital and Social Manager, Virgin StartUp<br>
<br>
<strong><img data-file-id=3D"476353" =
src=3D"https://gallery.mailchimp.com/6e873aab9f76e7f4db2e0500c/images/0c8=
d7aaa-b3f7-4f2f-a3e7-a6ec3ae00e08.png" style=3D"border: 0px none;margin: =
0px;height: auto !important;outline: none;text-decoration: =
none;-ms-interpolation-mode: bicubic;" width=3D"63" =
height=3D"63"></strong></span>
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				<!--[if mso]>
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									<!--[if (gte mso 9)|(IE)]>
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                                    <a =
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</table><table class=3D"mcnFollowBlock" style=3D"min-width: =
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cellpadding=3D"0" border=3D"0">
    <tbody><tr>
        <td style=3D"padding-left: 9px;padding-right: =
9px;mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;" align=3D"center">
            <table style=3D"min-width: 100%;border-collapse: =
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class=3D"mcnFollowContent" width=3D"100%" cellspacing=3D"0" =
cellpadding=3D"0" border=3D"0">
                <tbody><tr>
                    <td style=3D"padding-top: 9px;padding-right: =
9px;padding-left: 9px;mso-line-height-rule: =
exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" =
valign=3D"top" align=3D"center">
                        <table cellspacing=3D"0" cellpadding=3D"0" =
border=3D"0" align=3D"center" style=3D"border-collapse: =
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0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;">
                            <tbody><tr>
                                <td valign=3D"top" align=3D"center" =
style=3D"mso-line-height-rule: exactly;-ms-text-size-adjust: =
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                                    <!--[if mso]>
                                    <table align=3D"center" border=3D"0" =
cellspacing=3D"0" cellpadding=3D"0">
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                                    <![endif]-->

                                        <!--[if mso]>
                                        <td align=3D"center" =
valign=3D"top">
                                        <![endif]-->


                                            <table style=3D"display: =
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cellspacing=3D"0" cellpadding=3D"0" border=3D"0" align=3D"left">
                                                <tbody><tr>
                                                    <td =
style=3D"padding-right: 10px;padding-bottom: 9px;mso-line-height-rule: =
exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" =
class=3D"mcnFollowContentItemContainer" valign=3D"top">
                                                        <table =
class=3D"mcnFollowContentItem" width=3D"100%" cellspacing=3D"0" =
cellpadding=3D"0" border=3D"0" style=3D"border-collapse: =
collapse;mso-table-lspace: 0pt;mso-table-rspace: =
0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;">
                                                            <tbody><tr>
                                                                <td =
style=3D"padding-top: 5px;padding-right: 10px;padding-bottom: =
5px;padding-left: 9px;mso-line-height-rule: =
exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" =
valign=3D"middle" align=3D"left">
                                                                    =
<table width=3D"" cellspacing=3D"0" cellpadding=3D"0" border=3D"0" =
align=3D"left" style=3D"border-collapse: collapse;mso-table-lspace: =
0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;">
                                                                        =
<tbody><tr>

                                                                         =
       <td class=3D"mcnFollowIconContent" width=3D"24" valign=3D"middle" =
align=3D"center" style=3D"mso-line-height-rule: =
exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;">
                                                                         =
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href=3D"https://virginstartup.us12.list-manage.com/track/click?u=3D6e873a=
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style=3D"mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;"><img =
src=3D"https://cdn-images.mailchimp.com/icons/social-block-v2/color-twitt=
er-48.png" style=3D"display: block;border: 0;height: auto;outline: =
none;text-decoration: none;-ms-interpolation-mode: bicubic;" class=3D"" =
width=3D"24" height=3D"24"></a>
                                                                         =
       </td>


                                                                        =
</tr>
                                                                    =
</tbody></table>
                                                                </td>
                                                            </tr>
                                                        </tbody></table>
                                                    </td>
                                                </tr>
                                            </tbody></table>

                                        <!--[if mso]>
                                        </td>
                                        <![endif]-->

                                        <!--[if mso]>
                                        <td align=3D"center" =
valign=3D"top">
                                        <![endif]-->


                                            <table style=3D"display: =
inline;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: =
0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" =
cellspacing=3D"0" cellpadding=3D"0" border=3D"0" align=3D"left">
                                                <tbody><tr>
                                                    <td =
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                                                            <tbody><tr>
                                                                <td =
style=3D"padding-top: 5px;padding-right: 10px;padding-bottom: =
5px;padding-left: 9px;mso-line-height-rule: =
exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" =
valign=3D"middle" align=3D"left">
                                                                    =
<table width=3D"" cellspacing=3D"0" cellpadding=3D"0" border=3D"0" =
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100%;-webkit-text-size-adjust: 100%;">
                                                                        =
<tbody><tr>

                                                                         =
       <td class=3D"mcnFollowIconContent" width=3D"24" valign=3D"middle" =
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exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;">
                                                                         =
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style=3D"mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;"><img =
src=3D"https://cdn-images.mailchimp.com/icons/social-block-v2/color-faceb=
ook-48.png" style=3D"display: block;border: 0;height: auto;outline: =
none;text-decoration: none;-ms-interpolation-mode: bicubic;" class=3D"" =
width=3D"24" height=3D"24"></a>
                                                                         =
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                                                                        =
</tr>
                                                                    =
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                                                                </td>
                                                            </tr>
                                                        </tbody></table>
                                                    </td>
                                                </tr>
                                            </tbody></table>

                                        <!--[if mso]>
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                                        <![endif]-->

                                        <!--[if mso]>
                                        <td align=3D"center" =
valign=3D"top">
                                        <![endif]-->


                                            <table style=3D"display: =
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0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" =
cellspacing=3D"0" cellpadding=3D"0" border=3D"0" align=3D"left">
                                                <tbody><tr>
                                                    <td =
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exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" =
class=3D"mcnFollowContentItemContainer" valign=3D"top">
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collapse;mso-table-lspace: 0pt;mso-table-rspace: =
0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;">
                                                            <tbody><tr>
                                                                <td =
style=3D"padding-top: 5px;padding-right: 10px;padding-bottom: =
5px;padding-left: 9px;mso-line-height-rule: =
exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" =
valign=3D"middle" align=3D"left">
                                                                    =
<table width=3D"" cellspacing=3D"0" cellpadding=3D"0" border=3D"0" =
align=3D"left" style=3D"border-collapse: collapse;mso-table-lspace: =
0pt;mso-table-rspace: 0pt;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;">
                                                                        =
<tbody><tr>

                                                                         =
       <td class=3D"mcnFollowIconContent" width=3D"24" valign=3D"middle" =
align=3D"center" style=3D"mso-line-height-rule: =
exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;">
                                                                         =
           <a =
href=3D"https://virginstartup.us12.list-manage.com/track/click?u=3D6e873a=
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style=3D"mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;"><img =
src=3D"https://cdn-images.mailchimp.com/icons/social-block-v2/color-insta=
gram-48.png" style=3D"display: block;border: 0;height: auto;outline: =
none;text-decoration: none;-ms-interpolation-mode: bicubic;" class=3D"" =
width=3D"24" height=3D"24"></a>
                                                                         =
       </td>


                                                                        =
</tr>
                                                                    =
</tbody></table>
                                                                </td>
                                                            </tr>
                                                        </tbody></table>
                                                    </td>
                                                </tr>
                                            </tbody></table>

                                        <!--[if mso]>
                                        </td>
                                        <![endif]-->

                                    <!--[if mso]>
                                    </tr>
                                    </table>
                                    <![endif]-->
                                </td>
                            </tr>
                        </tbody></table>
                    </td>
                </tr>
            </tbody></table>
        </td>
    </tr>
</tbody></table>

            </td>
        </tr>
    </tbody>
</table><table class=3D"mcnTextBlock" style=3D"min-width: =
100%;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: =
0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" =
width=3D"100%" cellspacing=3D"0" cellpadding=3D"0" border=3D"0">
    <tbody class=3D"mcnTextBlockOuter">
        <tr>
            <td class=3D"mcnTextBlockInner" style=3D"padding-top: =
9px;mso-line-height-rule: exactly;-ms-text-size-adjust: =
100%;-webkit-text-size-adjust: 100%;" valign=3D"top">
              	<!--[if mso]>
				<table align=3D"left" border=3D"0" cellspacing=3D"0" =
cellpadding=3D"0" width=3D"100%" style=3D"width:100%;">
				<tr>
				<![endif]-->
		=09
				<!--[if mso]>
				<td valign=3D"top" width=3D"600" style=3D"width:600px;">
				<![endif]-->
                <table style=3D"max-width: 100%;min-width: =
100%;border-collapse: collapse;mso-table-lspace: 0pt;mso-table-rspace: =
0pt;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: 100%;" =
class=3D"mcnTextContentContainer" width=3D"100%" cellspacing=3D"0" =
cellpadding=3D"0" border=3D"0" align=3D"left">
                    <tbody><tr>

                        <td class=3D"mcnTextContent" =
style=3D"padding-top: 0;padding-right: 18px;padding-bottom: =
9px;padding-left: 18px;mso-line-height-rule: =
exactly;-ms-text-size-adjust: 100%;-webkit-text-size-adjust: =
100%;word-break: break-word;color: #656565;font-family: =
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