Dougal Shaw- 10 December 2024
Fraser Smeaton co-founded MorphCostumes with his brother and a friend in 2009 in Edinburgh. It began as a side hustle specialising in a particular kind of striking, head-to-toe party costume made of Spandex, the "Morphsuit". An immediate success, the co-founders quit their jobs and the company turned over £1m in its first year.
However, by 2014 it was clear the company was becoming a victim of its own success. The product was no longer novel and the business was in real danger of going under. In this episode of the Business Leader Podcast, Fraser Smeaton explains to Dougal Shaw how they were able to reinvent themselves to find success all over again, in a new guise - with lessons for others.
Related and recommended
The auto industry entrepreneur believes smart pivots can be the start button to fire up business success
Knowing how to get agreement between two parties is key in business. Two experts who have dealt with life-and-death negotiations offer their insight
The hotel executive believes the hospitality industry needs to be proactive in hiring to reflect society
The legendary ad exec believes leaders should collaborate with the technology, rather than use it as a tool