So the key is 1. Repeat customers or recurring revenue model. 2. A barrier to entry or a moat. 3. Strong customer relationships. 4. A decent gross margin.
@Bedtimechums2 ай бұрын
As a former, and undoubtedly future, entrepreneur, I think you've packed extraordinary value in such a short video. People need to hear about the failures to believe in the real possibility of success.
@flvflv47122 ай бұрын
A few days ago the algorithm was kind enough to show me one of your videos. And bang! You've got a fan. Love from Italy
@JamesSinclairEntrepreneur2 ай бұрын
Grazie señor
@MrJeffHead2 ай бұрын
No waistcoat today! Looking like a pre £10million turnover James Sinclair without a waistcoat.
@EppingForest3042 ай бұрын
Interesting phrase “professionally moving money around”, never heard that before! 👍
@cosmeticcompetitions2 ай бұрын
From Norfolk. What we’d like to know is how you manage money in the business, who has access to your business bank accounts and how does it work? Trust etc? Can one of your staff just pull money out without you knowing?
@doggydogdaily2 ай бұрын
Location Base Business: Hotels, Visitor Attractions ,Day Nursery ,Coffee Shops, Ice Cream Parlor. First Business: Stretch Limousine Business. Lesson Learned : - More Capital To Expand, Specialized Staff, Easy For Customers To Forget You, Government Regulations Frequently Changed. Second Business: Party Shops Lesson Learned: - People Need You Occasionally, Too Much Marketing, Everybody Was Selling The Same Stuff, Competitive Market. Third Business : Ice Cream Vans Lesson Learned: - No Contracts, Low Barrier, Chasing Turnovers No Establishments ,No Reliability Too Much Moving. Forth Business : Bouncing Castle Lesson Learned: Low Barrier Entry, Difficult To Sale Equipment's Once You Stop, Weather Can Ruin Income, No Reoccurring Customers. Fifth Business : Festivals Lesson Learned: Pricing Can Get Difficult, Its A One Time Thing.
@ybother2 ай бұрын
Great video. It’s ok to start on a not so good Business model. But one should iterate it quickly to be better.
@marialara940017 сағат бұрын
Thanks
@johnbuckley15332 ай бұрын
G'day Campers, thank you for sharing your experience James.
@oleopathicАй бұрын
Good x1.
@lukecarr95702 ай бұрын
Great nuggets in there, What would be your advice or key criteria for selecting a product/niche for ecommerce?
@readmycomment31572 ай бұрын
It's less about thr product, more about the margin and your ability to drive traffic
@SM_TheTraveller2 ай бұрын
Thank good advice
@nicecarsdarlington2 ай бұрын
I sell used cars im thinking of shrinking it to free up time to bolt on a love want and need business
@MoneyOnline20202 ай бұрын
Why didn't you do like the Italians?
@davothefirst93712 ай бұрын
Show me the Money !!!
@Hff199272 ай бұрын
You failed on the back of a successful business. Most people don’t do that. Most of us fail a bunch of times before it clicks. I thought you were going to give us your mistakes and shift in mentality from failure to success.
@I_Thought_You_Had_It2 ай бұрын
Shifts in mentality come from increased knowledge and experience and applying what you've learned. That's what this video is sharing.