My Story
When I left school—like many school leavers—I didn’t really know what “career path” to choose. After a few years in a fairly boring office job, it started to dawn on me that becoming a business owner—or “entrepreneur”—could be an extremely attractive option! Earning millions of pounds, running an exciting business, and not being told what to do by others… what’s not to like?!
Unlike the average career path, there was no university course you could simply attend and follow a syllabus—so how could I start?
Before the rise of the Internet and YouTube, books were the old-fashioned way to gain knowledge, and I religiously studied as many different books on entrepreneurs and business as I could get my hands on. I still do to this day.
At the time, I wasn’t sure what type of business to start. But it soon became clear that the more important question wasn’t “What business do I want to start?” but “Which business has the best chance of success?”
How do you start a business with no money?
My first and biggest stumbling block was simple: How do you start a business with no money?
Most of the books I read on entrepreneurs skimmed over this crucial issue. I assumed they must have had some kind of head start—maybe money from family or friends to get them going.
None of my family or friends were wealthy—or even had spare cash. And even if they did, I doubt they would have risked their hard-earned money on me. So that option was ruled out straight away.
I’ll admit, I felt a little sorry for myself at first—thinking I lacked the head start that other successful entrepreneurs seemed to have. But then I realised: without savings, it wasn’t impossible to start a business, it just meant I had to get creative. So I carried on working, saved what I could, and kept learning.
Many years later, it became clear that lack of cash was probably not such a bad thing. The reality is that most businesses fail, and with a wad of cash but no experience, I might have blown the lot very quickly.
Having no money forces you to think outside the box and sharpen your business acumen. In fact, years later, even after saving a significant amount, I managed to lose a considerable sum on bad stock-market investments—a very painful experience! It just goes to show: a pile of cash is not the answer to all of your prayers.
For more details on how I started, and how you can also start a business with no money, take a look at this article.
Research
what you are doing when you dont know what you are doingAs my journey continued, I came to realise the typical reality of setting up a new business. The first questions you need to answer are: Is there a market? Who are your potential customers? Who’s the competition? And what are the likely profit margins?
Once you start competitor research, you may be surprised at how many businesses already exist in your chosen industry. They suddenly appear everywhere you look!
The standard advice is that you should create your own Unique Selling Point (USP) to stand out. But in practice, it often takes a lot of initiative and insight to come up with a genuine USP. Radical innovation is rare—more often than not, we are all tweaking or improving something that already exists.
The next stumbling block is usually price and profit, particularly if you’re reselling a product. Sometimes you’ll find that competitors are selling at prices cheaper than your own cost price.
There are many possible reasons: they might be using a loss leader to win customers and make profit on other products, they might get bigger discounts for buying in bulk, or they may have hidden agendas and motivations you won’t be aware of.
I once worked with a van sales company where a competitor was selling vehicles at a loss because manufacturers were offering bonus incentives based on sales volume. This wasn’t common knowledge at the time—it only became clear later.
Time to Start!
not as easy as it seemsOnce you decide on your chosen business idea, the excitement builds—this is the best part! With a child-like belief in what lies ahead, it feels like time to put your money and effort where your mouth is.
But with the odds stacked against you, weeks or months can go into building the business—setting up the website, preparing everything—while you’re spending time, money, or both to try and attract customers.
Then comes the waiting. You wait for the customers to appear and for your fortune to grow… and then… most of the time… nothing. Just the sound of tumbleweed rolling by.
If you’re lucky, you may get the odd half-hearted enquiry—just as your advertising spend and heart rate increase. While you help boost the profits of advertising giants like Google, your own bank balance starts to dwindle.
In fact, the first calls or emails you often receive after starting a business are from salespeople trying to sell you something. Welcome to the real world of business!
There’s nothing more soul-destroying than putting in the hours and investing your marketing budget only to see little or nothing in return: no salary, no recognition, nothing.
I suppose that’s why most people stick to jobs. You might not like your salary, but at least it’s guaranteed. In business, you risk your income and your savings—it can feel like losing twice over.
Still, even in these moments, the education you gain as an entrepreneur is priceless.
If at First you dont Succeed…
As I’ve said, business acumen is usually hard-earned. It comes with pain, frustration, loss of time, and loss of money—all while learning valuable lessons in the process.
But ultimately, failure is part of the learning process—just like a baby learning to walk. I remember watching my little one: falling often, sometimes hitting his head hard. He cried, he was upset—but he always got back up and tried again. He never stopped trying to walk.
As adults, we should aim to be smarter. Reduce the pain and financial loss by learning not only from our own failures but also from the mistakes of others. As the saying goes: “A smart person learns from their own mistakes, a wise person learns from the mistakes of others.”
Try Try again
Even the most successful entrepreneurs admit they don’t know it all. They rely on advice and they learn from other people’s mistakes.
Take Richard Branson. Before he set up Virgin Airlines, he consulted Freddy Laker—the owner of the failed Laker Airlines—to learn from his experiences against British Airways. That advice prepared Branson for what was to come, including BA’s infamous “dirty tricks” campaign.
It does make you wonder: if their early ventures had failed, how many of today’s big-name entrepreneurs would have kept going without financial reserves to fall back on? The truth is, we usually only see the success stories—yet failure often teaches the most important lessons.
Maybe business training should be taught in schools. In the current system, it’s too easy to memorise what others have written, pass exams, and regurgitate “the right” answers. But that doesn’t prepare you for the realities of running a business.
Anyway, let’s get back on track…
Achieving Results!
Achieving Results!
By learning from failures, studying the methods of other entrepreneurs, and pushing forward with grit and determination—results eventually came.
Over the years, I’ve built several successful businesses from the ground up, including importing, business brokerage, marketing, activities, and corporate events. I’ve also spent more than 12 years as a Business & Marketing Adviser, helping hundreds of owners to grow and strengthen their companies.
What I’ve discovered is that there isn’t a one-size-fits-all formula. What works brilliantly in one industry may not work at all in another. That’s why I focus on creating tailored strategies for each business I work with—strategies that actually fit their goals, industry, and circumstances.
Today, I use my experience to help business owners through coaching, consultancy, and marketing strategy. Whether it’s minimising advertising costs, refining your direction, or finding innovative ways to increase profit, my aim is always the same: to help you unlock the full potential of your business.
Activity & Health
Outside of business, activity and health are a huge part of my life. I run a seasonal outdoor activity business in Wales—Blue Ocean Activities—where my team and I take groups out on exciting, adrenaline-filled adventures. If you’re ever in Wales, look us up and come along!
It’s important to remember: health will always be more valuable than any amount of wealth. Without health, wealth is worth nothing.
Take Your Business Further
Is your business really performing at the level it could be?
Are you confident your current strategy is driving the results you want?