Sara Davies: "A pat on staff's back is worth more than a fiver in their back pocket"
In conversation with the founder of global craft retailer Crafter’s Companion and the youngest investor on Dragons’ Den.
On her toughest moment
My father is a serial entrepreneur and he always used to say, “If you’re going to work hard, you might as well work for yourself.” I started Crafter’s Companion from my university bedroom and by the time I graduated in 2006, the business was already turning over £500,000.
My biggest setback came the following year when stationery giant Helix tried to rip off our most popular product, The Enveloper. I’d patented the design and, assuming the judicial system was there to protect underdogs like me, I took Helix to court.
The process was extremely stressful. I was a naive 23-year-old and stood to lose up to £250,000 in legal costs, which would have toppled the business. I’d come home every night and cry myself to sleep.