Michael Hastie
Bay Road Peanut Butter
What do you do?
We used to be builders, now we make peanut butter.
How many years have you been in business?
Three years. We started out at the Otago Farmers Market in 2017 while we were still building full time also, then juggled both businesses for a couple of years. We have been full time on Bay Rd for around 18 months.
What the best thing about running your own business?
Being the master of your destiny. Just having the freedom and flexibility to do what you want when you want. There is obviously a heap of commitments but we never miss anything important with our kids etc due to work.
Why is it important to have a good accountant?
I don’t think you realise how important it is until you actually have a good one. We like to keep Embark closely involved with any decision making regarding large purchases and timing. Having a good accountant like Embark just keeps everything ticking and on track. Saves a lot of scrambling and uncertainty and actually saves/makes you more money.
What’s the hardest thing about running your own business?
Being the master of your own destiny. You are never really ‘off’. Even though time is flexible it can be very consuming. Finding a good balance is key. The first year or two it can be pretty tough. Once you can pay yourself the weight comes off a little.
What’s next for your business?
Scaling up production capabilities so we can have a good crack at it. At the moment we are capped by our equipment. Embark are heavily involved in this process and have helped us keep on track and spend our money wisely.