5 Businesses I Failed and Why

Рет қаралды 9,225

Күн бұрын

Here's 5 different businesses I have failed in and the key lessons I learnt from them so I don't make the same mistakes. Hopefully these lessons about poor business models can help you make the right decisions in building your businesses.
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Who am I?
My name is James Sinclair and I'm the founder and CEO of The Partyman Group of Companies. I started building my business when I was just 16 as a family entertainer after that I built up an entertainment agency, then moved into building a leisure and day nursery businesses. Today we operate a £30 million business which includes leisure, childcare, outdoor attractions, commercial property, arts and crafts manufacturing as well as one of the UK’s oldest Ice cream companies; The Rossi Ice Cream Company.
⌚️Timestamps:
00:00 Intro
01:00 Businesses Today
02:06 My failed businesses
12:32 Business lessons learned
#business #entrepreneurship #businessowner

Пікірлер: 20

@readmycomment3157 Ай бұрын

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.

@Bedtimechums 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.

@flvflv4712 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

@JamesSinclairEntrepreneur Ай бұрын

Grazie señor

@MrJeffHead Ай бұрын

No waistcoat today! Looking like a pre £10million turnover James Sinclair without a waistcoat.

@EppingForest304 Ай бұрын

Interesting phrase “professionally moving money around”, never heard that before! 👍

@SM_TheTraveller Ай бұрын

Thank good advice

@cosmeticcompetitions 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?

@ybother 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.

@johnbuckley1533 Ай бұрын

G'day Campers, thank you for sharing your experience James.

@lukecarr9570 Ай бұрын

Great nuggets in there, What would be your advice or key criteria for selecting a product/niche for ecommerce?

@readmycomment3157 Ай бұрын

It's less about thr product, more about the margin and your ability to drive traffic

@doggydogdaily 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.

@nicecarsdarlington Ай бұрын

I sell used cars im thinking of shrinking it to free up time to bolt on a love want and need business

@davothefirst9371 Ай бұрын

Show me the Money !!!

@MoneyOnline2020 Ай бұрын

Why didn't you do like the Italians?

@Hff19927 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_It Ай бұрын

Shifts in mentality come from increased knowledge and experience and applying what you've learned. That's what this video is sharing.