In under six years, founders Muhammad Geloo and Aziz Bham combined their knowledge of “niche” precision instruments and accounting to build a King’s award-winning business.
TT Instruments now lists major tech firms, including Apple and Toshiba, as customers. They, alongside universities and a wide range of small businesses, purchase the firm’s refurbished, second-hand technology.
Speaking to Global Trade Today, they explained how they got going, the key to expanding and some of the lessons they learned along the way.
Starting out
Taking the first step into a business venture can be the hardest part for many, especially those embarking on entrepreneurship for the first time.
Geloo describes how the company began with a period of trial and error to work out which products had a viable market before attempting to expand and grow the business.
The pair began with telecoms, getting to grip with fibre optics and the associated test equipment. Using that area as their testing ground, they were able to establish processes for evaluating and refurbishing equipment, and apply for ISO certification.
Bham says that this gave them the confidence to move beyond a very narrow market and branch out into new product lines. TT Instruments now restores and sells laboratory, industrial, medical and ophthalmic equipment.
He’d recommend this approach to others in the startup phase. “We definitely believe in the concept of ‘fail fast’” he says, “explore an idea, move very quickly and give it your all, but if it doesn’t work, shut it down and move on.”
“You need the courage to start something and just crack on with it and throw yourself in at the deep end.”
Know your niche
Still reflecting on those early days, both say it’s important to find the business area that’s right for you.
“Choose something you’re passionate about”, Geloo advises. Having always had a passion for engineering – described by Bham as the kind of person that loves to take things apart to understand how they work – Geloo was confident that they would find a viable business model through selling precision instruments.
Bham echoes this. He attributes some of the business’ success to finding the right “niche”, and suggests that’s where entrepreneurs should begin.
“With the internet, the entire world becomes your customer, so that niche can become, very, very big.”
“You have the ability to market yourself to 200 countries across the globe, so that niche suddenly becomes very scalable.”
Export success
TT Instruments have certainly had a good ‘crack’ at reaching as many of the world’s export markets as possible. They may not have hit 200 yet, but they’re past the halfway mark.
The pair estimate that they’ve sold over 6,000 products to over 100 different countries in the past five years.
Was it daunting getting to grips with customs requirements of so many countries?
Bham says they took the same systematic approach to handling customs requirements as they did to establishing processes for the repair and resale of their goods.
Customs was something they got to grips with “gradually”, becoming easier as they reached more markets, with patterns emerging between destinations.
“By working with different countries’ customs, you learn all the nuances – the ways that some regions are quite similar, and then all the differences.”
The same was true of understanding which shipping companies are best engaged in different regions. Bham says that while UPS is “first-choice” getting goods to the US, but when exporting to China “it has to be DHL”.
He adds that strong communication with the customer ahead of exporting is often overlooked. TT Instruments typically “work with customers beforehand” when shipping to a new market or one where they anticipate customs challenges, he says.
“We work with them to understand if they've imported before, how they've imported, what works and what doesn't.
“We've built up a knowledge bank over the years, so no matter where we need to ship to, we can be confident that our goods will clear customs.”
The value of trust
Bham says building trust among customers can’t be overstated, particularly when it comes to growing your business through e-commerce.
Setting up a dedicated ‘shop’ on a well-known e-commerce site is a good way to begin exporting, because ultimately “at the outset you don’t have any credibility or trust yet”.
This can be especially useful when selling high-value goods and the level of trust required is higher.
“Already being familiar with [the platform], gave customers the confidence to come and purchase from us – and these aren’t £20 purchases, they’re thousands of pounds.
“For an individual, a small company or university to make the purchase, they have to think ‘hold on – I’m ordering from another country, can I trust these guys, are the goods going to arrive quickly?’”
Strong customs compliance also played a significant part in building that trust, so the time invested in understanding the challenges associated with each export market paid dividends.
“Our ability to get goods from A to B very rapidly… that really helped grow our market, it really helped build trust.”
The proof is in their data. Over time the proportion of business derived from their e-commerce shop has fallen from 90% to 40%, as they’ve built a regular customer base willing to return to their brand.
“We're very proud of that customers trust us and can come to us directly.”
King’s Award success
Also a point of pride is the company’s recent King’s Award for Enterprise win. TT Instruments was one of 76 businesses celebrated for its achievements in international trade this year.
Geloo suggests that every business reviews the judging criteria and gives it a go.
“I did a bit of research on what the judges actual look at when they’re reviewing businesses,” he explained, “and I realised we actually fit the profile very well”.
He felt quietly confident they might get good news, but still found it “really overwhelming” to have won.
The team – which has now grown to 6 full-time members – were “absolutely thrilled” to be recognised for their hard work.
Bham says they’re in “a great place for further expansion” and are considering additional warehouse space – but not before the team’s King’s Award dinner takes place.
“We’re heading into Manchester for wagyu steaks! Now’s definitely the time to celebrate.”
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