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Episode Overview
In this episode of #Value!, Graham Davies sits down with Harry Jarman, founder of Outbox, to unpack the realities of building a physical product business from the ground up.
From a simple frustration as a London cyclist to developing an underground bike storage solution, Harry shares an honest account of bootstrapping, product development challenges, and the often misunderstood world of early-stage fundraising.
This conversation is especially valuable for founders navigating the tension between building something tangible and securing the capital needed to bring it to life.
Episode Timestamps
00:00 – Introduction and the Outbox idea
02:00 – The problem: bike theft and storage challenges
04:15 – Bootstrapping and building the product
06:15 – Product development and lessons learned
07:50 – The challenge of traction in hardware
09:10 – Early demand and market interest
10:30 – Fundraising goals and investor conversations
11:20 – Crowdfunding and alternative funding routes
13:50 – The reality of early-stage fundraising
17:45 – Networking and what actually works
18:40 – Grants, tax credits, and funding options
21:50 – Practical advice on raising capital
23:00 – What’s next for Outbox
The Big Idea: Solving a Real-World Problem
Harry’s journey starts with a problem many urban cyclists know all too well: where do you safely store your bike?
Living in London, he found himself bringing bikes indoors to avoid theft - an inconvenient but necessary compromise. That frustration sparked a simple but powerful idea:
What if bike storage could be hidden underground?
Outbox was born from this concept. The company is developing underground bicycle storage units designed for both private homes and, potentially, larger-scale developments.
What makes this idea compelling is its simplicity:
- It addresses a clear, growing problem
- It aligns with urban trends away from car ownership
- It offers a practical, secure alternative to existing storage options
From Idea to Product: Not as Simple as Digging a Hole
At first glance, the concept sounds straightforward. Dig a hole, install a storage unit, problem solved.
But as Harry quickly discovered, reality is more complex.
Early exploration even involved speaking to grave diggers to understand excavation costs - an unconventional but practical starting point. However, turning that insight into a viable product required navigating:
- Structural engineering considerations
- Material design and durability
- Installation logistics
- Safety and compliance requirements
This is where many hardware startups hit their first major hurdle: execution is far more demanding than ideation.
Bootstrapping: Progress with Purpose
Harry has built Outbox without external funding so far, choosing to move forward step by step.
That decision brings a particular rhythm to the business.
Instead of scaling with a large team, progress happens more deliberately:
- Finding cost-effective solutions
- Working with trusted collaborators
- Making careful decisions about where to invest time and money
There’s a trade-off here. Things can take a little longer, but there’s also a deeper understanding of every part of the product and the business.
The Challenge of Momentum in Physical Products
One theme that naturally emerges in the conversation is the pace of progress.
When you’re building software, you can test, update, and iterate quickly. With physical products, each step takes more time - designing, building, testing, refining.
It’s not about things going wrong. It’s about the nature of the process.
And that creates an interesting dynamic when it comes to growth.
Progress might feel gradual from the outside, but underneath, there’s constant movement:
- Refining designs
- Testing assumptions
- Building relationships with suppliers and partners
It’s a steady build, rather than a sudden leap.
The Funding Reality: Proving Before Scaling
One of the most insightful parts of the episode is the discussion around fundraising.
Harry is currently raising investment, but like many founders at this stage, he’s encountering a familiar pattern:
- Investors are interested
- They see the potential
- But they want to see more proof
Specifically, they want to see the product in action - installed, used, and validated.
That creates a tricky situation:
- To demonstrate the product, you need funding
- But to secure funding, you’re expected to demonstrate the product
It’s less of a roadblock and more of a balancing act - finding ways to move forward while gradually building confidence.
Early Signals: Demand Is There
Despite these challenges, there are encouraging signs.
Harry recently added a waiting list to the Outbox website and has already seen hundreds of enquiries from across the UK and internationally.
That tells us something important:
- The problem resonates
- People understand the value
- There’s genuine interest in the solution
In addition to individual customers, there’s also interest from:
- Property developers
- Architects
- Landlords
This opens up a second pathway for growth.
Two Routes to Market
Outbox sits in an interesting position, with two clear directions it can take.
Direct to Consumer
Installing units at individual homes offers:
- Immediate feedback
- Strong connection with end users
- Early brand visibility
At the same time, it involves:
- Site-specific installation challenges
- More hands-on coordination
Partnerships with Developers
Working with developers could mean:
- Larger orders
- Integration into new builds
- Long-term scalability
This route tends to take longer to establish, but it has the potential to unlock significant growth once relationships are in place.
Exploring Funding Options
Harry has been proactive in exploring a range of funding avenues.
Angel Investment
There’s been steady interest through:
- Outreach
- Networks
- Conversations at events
While nothing has closed yet, the level of engagement suggests the idea is landing well.
Crowdfunding
Platforms like Crowdcube and Kickstarter are under consideration.
What makes this approach particularly interesting for Outbox is the overlap between:
- Potential investors
- Potential customers
People who experience the problem firsthand are often the most excited about the solution.
Grants and Public Funding
Given the environmental angle - encouraging cycling and reducing car usage - Outbox is well positioned for:
- Local council grants
- Sustainability-focused initiatives
This could provide a meaningful boost without immediate dilution.
The Power of Conversations
One standout insight from the episode is the value of in-person conversations.
Compared to cold outreach, meeting people face-to-face has:
- Generated stronger interest
- Led to more meaningful follow-ups
- Helped communicate the vision more clearly
There’s something about being able to explain the idea in person that brings it to life in a different way.
A Founder’s Journey in Motion
What stands out most in this conversation is the sense of momentum.
It might not be rapid or headline-grabbing, but it’s steady, thoughtful, and grounded in real progress.
Harry is building something that solves a genuine problem, in a space that’s only becoming more relevant as cities evolve.
With growing interest, multiple pathways to market, and continued development, Outbox is moving in the right direction - one step at a time.
Episode Summary
A practical conversation about turning a simple idea into a real product, navigating funding challenges, and building momentum without rushing the process. It’s a reminder that progress doesn’t always need to be fast to be meaningful - it just needs to keep moving forward.
