Elevator Pitch is a regular feature on Lifehacker where we profile startups and new companies and pick their brains for entrepreneurial advice. This week, we're talking with Timothy Caruana, founder at Christian Paul Watches.
In 128 words or less, explain your business idea
Christian Paul is an Australian owned and designed affordable luxury watch brand.
The brand is named after my son, Christian Paul (the logo represents the time he was born, 11.25am.) I founded the brand to leave a legacy for my five children and give them something to be proud of.
What strategies are you using to grow and finance your idea?
Initially I sought out investor backing to get the idea of the ground. Social media played a huge role in our launch and still to this day is a major player in our growth. Influencer marketing has been invaluable, we've had the likes of Selena Gomez wear our watches, and now more than ever micro influencers are helping us showcase our timepieces to the world.
For the international market, exhibiting at Baselworld for two consecutive years put us and Australia on the global watch map. Christian Paul was on show alongside some of the world's most famous brands and garnered attention from the lucrative European market. We're now stocked in over 530 stores globally.
How do you differentiate your business from your competitors?
This brand only exists because of a passion for horology and a dedication to leave a legacy for my family.
What's the biggest challenge facing your business?
The retail space will always be our biggest challenge. Each market has its own nuances and we need to constantly tailor our marketing and business development initiatives to suit. Additionally, social media still plays a major role in our business and is forever changing. Our team is always trialing new strategies to stay on top and most importantly stay relevant.
What one phone, tablet or PC application could you not live without?
Instagram. It's a source of inspiration and revenue for Christian Paul.
What's the best piece of business advice you've ever received?
Always get the opinion of three people; people that have been there done that, people who are at the same place as you are, and people who are up and coming. I was lucky enough to receive this advice from Jordan Belfort during a chance dinner encounter. Safe to say he had 'been there done that'!
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