From Investment Banking to Entrepreneurship

In an era where career transformations are becoming increasingly common, few stories capture the complexity and depth of such a shift like that of Chris Fraser. His journey from the high-powered corridors of investment banking to becoming the CEO and entrepreneur behind Dutch Barn Vodka is not only a reflection of his personal evolution but also a roadmap for others contemplating a major career change.

A reluctant banker
For Fraser, career change was never about escaping one field for another, but rather a pursuit of continuous growth and new challenges. Reflecting on his time in investment banking, particularly in mergers and acquisitions, he describes his career mantra as "I don't know what I want to do when I grow up!" This phrase, emblematic of his unyielding curiosity and thirst for personal and professional growth, encapsulates his path. "It reflects my obsession with learning and growing as a person, but also keeping anchored as the young boy dreaming of possible futures."

Fraser's banking career at Citigroup provided him with accelerated learning experiences and the rare opportunity to work alongside some of the world's most successful entrepreneurs. "I was very lucky in my investment banking career to have the opportunity of working with some incredibly successful entrepreneurs and business leaders like Andrew Forrest and Gina Rinehart," Fraser explains. His role as an adviser during the financing of Fortescue Metals Group in 2006 proved to be the catalyst for his leap into entrepreneurship. Working closely with Forrest and his team, Frazer played a key part in turning an idea into the world's fourth-largest iron ore producer. "Standing on the deck of a massive iron ore ship being loaded as a result of my work really lit the fire in my belly of wanting to build businesses myself."

This transformative experience was a pivotal moment that would propel Frazer from the world of finance into uncharted entrepreneurial waters.

The leap of faith
In 2009, after 15 years in corporate finance and having recently been promoted to Managing Director at Citigroup, Fraser made the bold decision to quit. "Taking the leap was a scary experience but one I am so happy I made," he admits. He recalls the freedom he felt the day after resigning - "sitting on my doorstep with a coffee in my hand after walking my daughter to school with only the future in front of me was so liberating and energising."

It was this moment that marked the beginning of his journey as an entrepreneur. But leaving the corporate world, particularly a prestigious firm like Citigroup, was never going to be easy. "To step from a traditional corporate role into starting your own business is a difficult one. Getting out of a relatively cosy environment of a corporate role to the raw exposure of a start-up can be a hard transition for some," Fraser acknowledges.

The advice he offers to others considering such a career pivot is simple but crucial: "Develop a greater understanding of risk and reward... you cannot go forward without risk but you need to ensure you can quickly assess risk and reward to ensure you are taking balanced risks." He stresses that many entrepreneurs fall into the trap of overthinking risk to the point of paralysis. "Risk must always be balanced with reward," he adds.

Lessons in culture and thinking differently
Fraser's career took another defining turn when he became involved with Sirius Minerals, a company developing a massive natural multi-nutrient resource in the North York Moors National Park. It was here that he learned two key lessons that would guide him through future entrepreneurial ventures.

"The two most critical learnings from Sirius were the importance of culture and team and also the value of thinking differently," he explains. The challenge of turning an idea into a reality, particularly one as ambitious as Sirius', can be an isolating experience, but Fraser soon realised that success would be defined by his ability to build a strong, committed team. "Turning an idea into reality can be a very lonely experience at times, but one of the important determinants of success is your ability to build a high performing team and culture around you."

This revelation solidified the importance of aligning a team with a shared vision. "A team that is as determined and committed to your idea is so powerful and makes the impossible seem possible," he notes. The cultural values of the team were just as critical. "A team that passionately aligns on your purpose and operates within similar success-orientated values set is vital."

Another major lesson from Fraser's time with Sirius was the value of unconventional thinking. Confronted with skepticism about the project, Frazer repeatedly heard the phrase, "but this is how it's done." A phrase he despises, as it stifles innovation. "Thinking differently and embracing people from different industries with different perspectives is so powerful to problem solving."

This mindset of challenging the status quo would become a cornerstone of Fraser's later entrepreneurial pursuits.

Mining finance to distillery: Strategic lateral thinking
Fraser's ability to think strategically, honed during his years in mining finance, became invaluable as he moved into entirely new industries. His ventures, including co-owning Ellers Farm Distillery and Dutch Barn Vodka, were driven by the same intellectual rigour that he applied to corporate finance, but with a more flexible approach. "What investment banking taught me was the value of strategic lateral thinking. Being able to see a problem in multiple ways and thinking through all of the possible solutions," Fraser explains.

This thinking allowed him to approach challenges with a broader perspective, constantly questioning and testing assumptions. His application of this skill to the beverage industry has been instrumental in shaping Dutch Barn Vodka's growth and potential. But Fraser's experiences in business have also been influenced by a key principle in Chinese philosophy, as shared with him by his friend Paul Glasson. "Take a step – look a step," Fraser says, summarising the philosophy's lesson that in business, as in life, sometimes the best course of action is to take one step at a time and reassess the situation.

Disrupting the beverage industry
Fraser's latest entrepreneurial venture, Dutch Barn Vodka, reflects his ambition to disrupt an established industry. The vodka sector, he argues, is ripe for innovation. "The vodka category has been pretty stagnant for a while and stuck in some old paradigms," he notes. "I believe there is an opportunity for a high-quality premium vodka done differently." And Dutch Barn is precisely that: vodka made from British apples with a touch of potato spirit, distilled over 70 times and bottled in a brown bottle, a unique feature that sets it apart in a saturated market.

Fraser is not only focused on creating a product that stands out but also on positioning Dutch Barn as a global leader in its category. "We are on a mission to make Dutch Barn a Top 20 global vodka," he declares. But success in this competitive space is not merely about product differentiation - it's about tapping into broader industry trends such as sustainability, traceability, and premiumisation. "The mega trends of sustainability, traceability and premiumisation sweeping across a lot of consumer sectors will continue to drive innovation and growth in the broader beverage sector."

Dutch Barn has positioned itself as a company that is not only making high-quality spirits but doing so with a conscience. As a Certified B Corp that has been carbon neutral since day one, Frazer's company has a strong commitment to sustainability, based on a farm in North Yorkshire. "We are building Dutch Barn to be a global brand for the future that people will grow to love," he says.

As someone who has navigated multiple industries - from investment banking to mining finance to distilling - Fraser has become adept at identifying new opportunities in the face of uncertainty. His method for finding success in new ventures is simple yet profound: "Finding something that truly excites you. You have to be obsessively passionate about it to get you out of bed and into the fight on a daily basis."

For Fraser, the most rewarding challenges are the hardest ones. "I like difficult challenges and so I am drawn to finding spaces where people say it's really hard or really tough. That tends to change the dynamic. Where people don't feel that, probably means there are hundreds of people trying to do the same thing."

It is this appetite for difficult challenges that fuels Fraser's entrepreneurial drive, and it is also the source of his confidence when pursuing new opportunities. "I would sooner take on a big hard challenge and try to make it work. I find that way more fulfilling and enjoyable."

The horizon looks bright
As Fraser looks ahead, he remains deeply committed to his entrepreneurial pursuits. His experience has proven that successful career transitions require more than just courage - they require a continual focus on learning, adapting, and growing. Whether it's building a new business, redefining an industry, or staying true to his passion for difficult challenges, Fraser has made it clear that his journey is far from over. With Dutch Barn Vodka poised for global growth and the wider beverage sector on the brink of transformation, one can be certain that this founder will continue to shape industries, disrupt norms, and inspire future generations of entrepreneurs.

For those contemplating a similar leap, Fraser's final piece of advice is clear: "Act. Some people can get paralysed by risk analysis and focusing only on that half of the equation. Risk must always be balanced with reward." In a world of relentless change, this founders career trajectory highlights the importance of adaptability and calculated risk-taking - traits that will define the next generation of entrepreneurs and unlock new avenues for growth in an uncertain landscape.