I think most know my story and I've been opened and shared plenty in the past so rather than go over old ground ill just answer the thread like a Q&A
How did you get started, what age?
I think like "most" entrepreneurs, my life started out selling something in school paint brush lollys of all things. That got me my first taste of buying and selling, and it covered enough to start collecting football stickers and selling them off. Never done anything serious with it.
What techniques you used?
I had the chance to travel early in life and that's where I started to experiment with importing and exporting. Got a feel for buying and selling. I also use to run A LOT of scams because things were easier back then.
Miss label things, buy something as one brand and rebrand it as a more premium one.
Used to buy emory boards (super fine sanding) and id touch up B grade electronics and resell them as A grade stock.
Wasn't always a good little boy
Used to sell down market stalls the old pop up car boot venues in the high street, then finally moved online.
School of life. I went to uni and I done a BSc in Multimedia - I never stuck it out till the end, any job I picked up along the way I told them I did.
I'm not exactly an "academic"
What did you put most effort into?
This business I have now.
My import & export business I scaled was EASY. Things where different. I got lucky at the end of the .com bubble and just caught a lucky break. I lost that business due to some refund issues and a banking error due to the way merchant accounts used to work back then, if I refunded that customer £200 they got the refund back 5x so they ended up with £1000 going back to them but the £800 was a ghost payment due some technical issue with a very well-known bank.
Anyway, they tanked my credit rating, basically bankrupted me. I ended up hiring a forensic accountant with what money I had left and he found that error.
We took it to the bank, took the bank to court and settled 15min before due to go in front of the judge for an undisclosed amount.
I honestly tried to duplicate that business so many times over and failed every time. I used to bleed it of cash as I wanted that life style back or invest in the wrong stock too quickly.
I had run ins with the police, trading standards the works as anyone does when tryring to make a buck. I tried everything and failed at everything.
I stopped. As I never really needed to work.
I took 1 more step in 2014 to try something and I decided id not touch this business. I needed to treat it as a distraction and it's for my children. They can either work for it one day or I'll sell it and the money all goes to them. I don't take a penny from it, I'm scared that if I treat it as mine it will go tits up, probably sounds silly but I had such a bad record of trying to duplicate things this was the only answer for me.
12 years on this October and we are closing in on 8 figures. It's probably the hardest I ever worked in my life and I enjoy it. It's in a sector I never thought Id have any interest in. But I honestly enjoy it. I think I can say I'm good at it.
What was your turning point?
I sort of answered that above but also after my settlement the account I had basiclly told me I was a twat with money and I needed to do something with what I got now other wise id have nothing to show in a few years and id be on my arse again.
I invested money into property and stocks and shares that pays me an income every year and honestly, that person has passed away now but it was the BEST thing I ever done. If I hadn't had done that id have nothing now.
I am truly grateful to that person for sitting me down and giving me the hard truth and making me understand what I have done and my relationship with money was toxic.
Don't get me wrong I had my own house before this due to circumstances outside of my control, I had to move on and grow up pretty quickly I bought my first house for 11k BUT when you got a business that was generating more money than I had ever seen before I couldn't spend it fast enough and as much as I did spend it, it would just appear back again the next day.
When did you realize cash doesn't matter?
Money does matter. We living in a world where you need it to function. It buys freedom, but people don't need millions you can do it on an average wage it's down to your life style.
For me,
because I have it. Money doesn't really matter. But I stopped acting like a fucking knob head with it.
I used to chase it, but for me it's a drug, if I start spending it I can't stop. Now I stop and ask myself do I need it, if I still need it in a week I'll get it. If I can manage, I don't. I don't make any impulse decisions anymore.
I have money. Lots of money. I live like a hobo. My wife and kids go without asking for anything, they have it all, ill spend it all on them. Give me a tshirt, and ill make that thing last me 20 years how I look doesnt matter. All I know I never have to ask the price of something if I want to buy it, I can, I can afford it.
I live well below our means. Don't get me wrong due to the wifes job and that there are sometimes appearances to meet, but I don't give 2 shits to be frank.
What do you spend hard earned money on.
Nothing really.
American hard gums, pork scratchings and vodka. I buy about £50 in sweets and scratchings a month, £200-350 in vodka a month. £200 down the pub.
Lot's thing I got a drink problem but this weekend I went to the pub on Sat and had a vodka when I got home that was it. Had about 4 on Friday, nothing yesterday. I'm trying to cut back I work alot and for me I like a drink to chill out. Probably the worst thing for me is I can afford nice sprits and I drink them like they are cheap ones.
I watched the new Rik Mayall documentary recently and I can relate to some of the things there with alchol. I strictly dont drink during the week but I do think maybe on the weeknds I should hold back a bit and more recently I have but that's because I'm unloading more things in work which makes life easier or allows me to have more focus on other areas.
I was and did stop drinking for 13 years I'm just making up for it, feel myself justifying like an alcholic but I can go without I don't shake or miss it if I don't have a drink. It is what it is. If I die tomorrow, then I got no regrets.
Rest goes on family. I don't need anything. Sure bought myself a nice car recently because I was told to, we have nice holidays 5-6 a year. But nah I get 2k allowance to free spend on whatever I might spend 10% of that but more often than not goes back into savings.
