#cofeecup

Inspired by their shared love of coffee, two entrepreneurs who met on the Sloan programme in 2012 decided to take their passion for caffeine to the next level. London Business School speaks to Jonathan Strauss and Andreas Bӧs about going into business together with Deviehl, a luxury coffee-cup company.

Why did you do the Sloan programme?

J.S. It had been 25 years since I graduated – but after spending most of my career in the luxury watch industry, it was time for a change. I felt a fair amount of trepidation about immersing myself in a programme like this. But it offered the opportunity to reflect on the specific drivers and motivations that were important to me.

What sparked the idea for Deviehl?

J.S. We are both coffee enthusiasts but with different areas of expertise. We were chatting over an espresso and a cappuccino when the idea for Deviehl dawned upon us. We wanted to develop cups to match the high-end coffee machines available and the luxury experience that drinking coffee has become. With Andreas’ engineering and my watchmaking background, we set out on a journey to develop “The Perfect Coffee Cup”.

A.B. My career has focused on product innovation roles with mid-sized companies. It’s an environment in which you lead, but there are limited opportunities to learn from others. After the company I was working for was involved in a takeover, I decided it was time to catch up with the latest technology, research and management techniques − business school was an obvious choice.

How has Sloan shaped what you are doing with Deviehl? 

J.S. Faculty expertise has been invaluable. The School’s Innovation in Luxury Business Plan competition gave us access to an amazing network, including the Editor of the FT’s How To Spend It magazine and the MD of Harrods, which we now supply. 

A.B. It’s one thing taking on the technical side of things, but another having full responsibility for starting and managing a new company. The Entrepreneurship Summer School elective was a fantastic experience involving conducting research outside Selfridges, asking people their opinions on products and services, generating ideas and formulating business plans. It sounds obvious, but ensuring entrepreneurial success is all about people. I learned a great deal about leadership and motivating people on Sloan.

And what did you learn about yourself? 

J.S. I’ve always been quite entrepreneurial but even so, it was hugely enabling to realise that I no longer wanted to work for anybody else. Sloan gave me an understanding of my own strengths and weaknesses and the confidence to believe in myself and my ideas. It broadened my strategic expertise and thought processes, but the real revelation was working with inspirational people. 

A.B. At the start, I was very focused on inventing something; now I see entrepreneurship in a much broader context that centres on value for the customer and for the company. 

What challenges are you facing with a product aimed at the luxury market? 

A.B. In the luxury arena, one has to be very careful about how one treats people and the materials used. Everything today is about pricing, but I believe it’s time to return to longer-lasting, handcrafted goods.

J.S. Building a business is tough. Business today is fast and flexible, it’s a rollercoaster, so it’s paramount to develop the right team of people to achieve your objective. We want to build an environment where everybody has more responsibility and more fun. Success depends on managing people and taking them on the journey.