Meet Tinique: the events expert who turned a ‘lightbulb moment’ into a successful business

• Business name: Hay Events

• Industry: Events 

• Founded in: February 2020

• Top business product: Business bank account

• Key learning: “It’s important to think about why you want to start a business and the problem you are trying to solve.”

Starting a business is never easy, but add in a global pandemic and everything gets harder. 

This was the reality for Tinique Hay when she set up her events management agency, Hay Events, in February 2020. But, thanks to her extensive events experience and entrepreneurial spirit, the business is a success and it’s about to celebrate its fifth anniversary.

Here, she reflects on her resilience throughout these challenging years...

What motivated you to start your own business?

I really wanted to build an everlasting legacy in my family’s name, so that’s why my business is called Hay Events as it’s my surname. Plus, I’ve always had an entrepreneurial spirit and I had been working in events for five years, so I thought it was time to use my passion and start my own business. I had a lightbulb moment and I realised I could turn my visions into a reality. 

So I created Hay Events, an event management agency, which focuses on supporting entrepreneurs and small business owners to grow their business through the power of events. 

When did you launch Hay Events? 

I officially launched Hay Events in 2020 and it has been an emotional rollercoaster of a journey! It was just before lockdown, so it was challenging growing a business at the start of a global pandemic. But I think my passion for events has kept me going and I’m so proud that the business will be turning five next month. 

How did you handle those early challenges? 

One of the best things I did was get a business mentor. I knew I would need some support so I googled business mentors for events companies, and I found someone on Instagram. They were brilliant and really helped me in the early days as they showed me how to build a solid business structure and pivot during the pandemic. 

Friends and family were also there to support me and I spoke to a lot of other business owners as they were going through similar challenges. 

Funding was also a challenge as I needed to make sure I had enough money to finance the business. However, I had been saving for a few years prior to starting the business, so I was self-funded. From 2020 to the end of 2021, I was still working in events as well as running the business, so I used this money to start building up a savings pot. I knew that if I wanted to quit my full-time job, I needed to have some money set aside to make Hay Events a success. 

How did you determine your initial budget and target audience? 

I did my research! I talked to a lot of people in the industry and asked them what funds I would need for certain aspects of the business. I then worked out the price of my services looking at the market and what revenue I would need to finance the business.

I was also strategic with my target audience - entrepreneurs and small business owners - as I could relate to them. I can tap into their wants and needs because I understand what it’s like to start a business from scratch. I also understand that every business is different, so I always ask my clients: ‘What is the main purpose of your event?’ We can then strategise and create an event based on their objective, whether that’s a roundtable discussion over lunch or creating a large summit with hundreds of guests. That’s why I don’t offer a generic package, as I want to get to know my clients and create a bespoke event that’s right for them. 

If someone is keen to plan an event for their business, I have a free event plan checklist on my website - or just email me and I’ll be more than happy to help. 

Did any financial products help you in the early stages of your business? 

At first, I didn’t have a business bank account and I was just using a personal bank account. But in 2022, I was keen to grow the business and I realised I needed a business bank account and an accountant. I decided to go with Mettle Bank which is part of NatWest, as I wanted a business bank account that was free to use. I also chose this account because it comes with FreeAgent accounting software - as long as I make at least one transaction a month from my Mettle account. I did a lot of research before making a decision, and I found YouTube really helpful. 

Are there any financial products that you wish you’d known about sooner?

I think it is important to get a business bank account when you’re starting a business and an accountant can really help with the finances. 

What’s next for your business? 

In the next five years, I have a lot of plans. Firstly, I really want to expand my team. I currently use part-time freelancers and contractors, but I would love to have some full-time staff, so I’m focusing on making that happen. I also want to attract new clients to increase my portfolio and create even more events year on year. 

What makes you particularly proud of your business journey so far? 

I think it’s my resilience and perseverance. I left my full-time job with a stable income to go into the unknown, and now Hay Events is an award-winning agency. I’m really proud of that. Starting a business is daunting but having a plan of action and focusing on one task at a time really helps to move from A to B. I’ve definitely become more self-disciplined since starting my business. My word of the moment is ‘capable’ - five years later I’m still here so I must be doing something right!

What would you say to someone who is about to start a business? 

It’s important to think about why you want to start this business and the problem you are trying to solve. Then do your research, talk to family and friends, and find business owners in your industry on LinkedIn so you can learn from them. A business mentor is also really helpful as they can offer invaluable support. Try not to overthink it and just go for it! Life is short and it’s better to have tried and failed, than never tried at all. 

This case study is for informational purposes only and is not intended as financial or professional advice. The results described are specific to the individual's personal experience, so please consult with a qualified professional if you need financial advice.