The Entrepreneur Forum | Financial Freedom | Starting a Business | Motivation | Money | Success

The Entrepreneur's Forum for learning how to build wealth and financial freedom the Fastlane way!

Say "NO" to mediocre living rife with jobs, ascetic frugality, and suffocating savings rituals— learn how to build a Fastlane business that pays both freedom and lifestyle affluence. Join our forum with more than 70,000 entrepreneurs who are making it happen.
Join for FREE Today
Get the books
Remove ads? Join Fastlane INSIDERS
(Registration removes this block)

£150,000/week to £700,000/week

A detailed account of a Fastlane process...

Bourbons

Bronze Contributor
Speedway Pass
Mar 28, 2016
76
172
33
Newcastle, UK
Hey guys!

Don't post often, as I rarely take stock of "events", and I just get on with the process..

But it's a fairly large event, that's taking us from £150,000/week, which I've enjoyed for the last 6 months or so (quick, large growth from circa £40,000/week), to £700k/week.

The larger prospect is over double that, but at a minimum, so long as we don't **** up, this is guaranteed.

I was broke when I read TMF , living with £30/week money after paying bills, which went on food for me and my family.

This year looks like it'll be a big one, touch wood!

Best
 
Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

Bourbons

Bronze Contributor
Speedway Pass
Mar 28, 2016
76
172
33
Newcastle, UK
Congratulations and well done.

What are some of the things you applied within your process thats been responsible for the growth to 750k
Tough question, I feel TMF mostly gave me validation, seeing the success MJ had, with many beliefs I already held -(but hadn't had articulated in such a way), validation I really needed as I had tried without any success for many years.

I'd say my biggest point is to not trade my time for a fixed fee, directly. Build a money tree
 

Bekit

Platinum Contributor
FASTLANE INSIDER
Read Fastlane!
Summit Attendee
Speedway Pass
Aug 13, 2018
1,046
4,870
Hey guys!

Don't post often, as I rarely take stock of "events", and I just get on with the process..

But it's a fairly large event, that's taking us from £150,000/week, which I've enjoyed for the last 6 months or so (quick, large growth from circa £40,000/week), to £700k/week.

The larger prospect is over double that, but at a minimum, so long as we don't **** up, this is guaranteed.

I was broke when I read TMF , living with £30/week money after paying bills, which went on food for me and my family.

This year looks like it'll be a big one, touch wood!

Best
That's amazing! Congratulations!

What were some of the mindset shifts you had to make along the way? It seems like that kind of financial growth inevitably produces a lot of personal growth.

Who was your first hire? Any tips for how to approach hiring decisions in a way that contributes to rapid growth?
 

RazorCut

Legendary Contributor
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
May 3, 2014
2,032
7,168
Marbella, Spain
Congratulations. That money goes further up North as well. ;)Marketing your own product(s) or do you have a marketing agency?
 
Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

jpn

Bronze Contributor
Read Fastlane!
Read Unscripted!
Speedway Pass
May 6, 2017
166
468
Netherlands
Congrats. 7.8 million pounds a year In revenue sounds great! How much of that is profit? What are the margins you’re working with?

How did you get started, what was the path like?

And are you the solo owner or did you partner?

Being in the UK, does your business have any Brexit exposure? Any contingencies you’re planning for?
 

Bourbons

Bronze Contributor
Speedway Pass
Mar 28, 2016
76
172
33
Newcastle, UK
Congratulations. That money goes further up North as well. ;)Marketing your own product(s) or do you have a marketing agency?
Just answering this straight one as it's my birthday and I've been out..
thanks buddy! Have a marketing agency, although we provide a "full sales process", I.e. if we send a client, we've taken them all the way to the fee earner for our partner company - so they don't require any form of sales staff. We generate and close the lead, working on a revenue share, in all agreements we hold
 

RazorCut

Legendary Contributor
EPIC CONTRIBUTOR
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
May 3, 2014
2,032
7,168
Marbella, Spain
Happy birthday and thanks for the enlightenment. Hope all goes well for your expansion.
 
Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

Striver

Bronze Contributor
Read Fastlane!
Speedway Pass
Mar 23, 2017
135
125
48
USA
Congrats. 7.8 million pounds a year In revenue sounds great! How much of that is profit? What are the margins you’re working with?

How did you get started, what was the path like?

And are you the solo owner or did you partner?

Being in the UK, does your business have any Brexit exposure? Any contingencies you’re planning for?

It appears you missed the second set of numbers...
 

jpn

Bronze Contributor
Read Fastlane!
Read Unscripted!
Speedway Pass
May 6, 2017
166
468
Netherlands
It appears you missed the second set of numbers...
It appears you missed the point of my reply. I want to politely determine how successful the business of OP really is.

Revenue is a nice number and 7,8 million or 36 million is nothing to sneeze at. But if only 1% of that is profit and it has to pay 10 salaries the picture suddenly looks very different than if that’s at 50% margin with only 2 employees. Not saying either is the case, just want to place the numbers into context.
 

Bourbons

Bronze Contributor
Speedway Pass
Mar 28, 2016
76
172
33
Newcastle, UK
It appears you missed the point of my reply. I want to politely determine how successful the business of OP really is.

Revenue is a nice number and 7,8 million or 36 million is nothing to sneeze at. But if only 1% of that is profit and it has to pay 10 salaries the picture suddenly looks very different than if that’s at 50% margin with only 2 employees. Not saying either is the case, just want to place the numbers into context.
At the moment...
£103,000 marketing cost
£17,000 staff costs
£4,000 rent etc, variable.. float

Roughly £25,000 profit/week.

The key point is, this new work, is an upsell to our current clients, so there's no extra marketing cost. The additional revenue, bar a far staff at a weekly cost of £6,000, and £132,000 service provider costs - is all profit.
 
Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

jpn

Bronze Contributor
Read Fastlane!
Read Unscripted!
Speedway Pass
May 6, 2017
166
468
Netherlands
At the moment...
£103,000 marketing cost
£17,000 staff costs
£4,000 rent etc, variable.. float

Roughly £25,000 profit/week.

The key point is, this new work, is an upsell to our current clients, so there's no extra marketing cost. The additional revenue, bar a far staff at a weekly cost of £6,000, and £132,000 service provider costs - is all profit.

Very nicely done! Increasing both revenue and margins! Congrats on the event and the hard work paying off.

Do you focus on a particular industry? If so, how’d you pick that one?
 

Bourbons

Bronze Contributor
Speedway Pass
Mar 28, 2016
76
172
33
Newcastle, UK
Very nicely done! Increasing both revenue and margins! Congrats on the event and the hard work paying off.

Do you focus on a particular industry? If so, how’d you pick that one?
Thanks buddy! I do, for the most part. Started in another unrelated industry.. and do work in others entirely different. Currently profiting £4,000 from another industry looking to grow it. Always the same model, though.

I ask everyone what they do, and see if there's a fit. Case and point, someone knocked on my door today to ask if they could build a house on the land behind mine - I asked him what he does (landscaping) and he's going to do some work for me.
 

Striver

Bronze Contributor
Read Fastlane!
Speedway Pass
Mar 23, 2017
135
125
48
USA
I ask everyone what they do, and see if there's a fit. Case and point, someone knocked on my door today to ask if they could build a house on the land behind mine - I asked him what he does (landscaping) and he's going to do some work for me.

Networking is grossly underrated!
 
Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

Ernman

Gold Contributor
FASTLANE INSIDER
Read Rat-Race Escape!
Read Fastlane!
Read Unscripted!
Summit Attendee
Speedway Pass
Feb 8, 2019
965
2,118
63
Florida, USA
Congrats on your continuing success. I'd say, "good luck", but your hard work had much more to do with your success than luck.
 

Bourbons

Bronze Contributor
Speedway Pass
Mar 28, 2016
76
172
33
Newcastle, UK
That's amazing! Congratulations!

What were some of the mindset shifts you had to make along the way? It seems like that kind of financial growth inevitably produces a lot of personal growth.

Who was your first hire? Any tips for how to approach hiring decisions in a way that contributes to rapid growth?
Mindset shifts... big shake up in my personal relationships. I don't give my time away so freely for menial tasks anymore, and get bogged down in other people's drama almost never. Lost some friends over it, but I've not suffered, in fact I'm closer to my immediate circle than ever, and happier for it.

We have a lot of staff.. first hire was telesales staff. He's actually earning over £100,000 PA now, has become head of sales.

Hiring talented and experienced staff, and paying them what they deserve is important, success will follow, so long as your model isn't flawed (imo)
 

Bourbons

Bronze Contributor
Speedway Pass
Mar 28, 2016
76
172
33
Newcastle, UK
Congrats. 7.8 million pounds a year In revenue sounds great! How much of that is profit? What are the margins you’re working with?

How did you get started, what was the path like?

And are you the solo owner or did you partner?

Being in the UK, does your business have any Brexit exposure? Any contingencies you’re planning for?
I got started.... I've never had a "job", other than when my wife was pregnant and I was broke, I delivered pizza whilst still working on my business.. driving around having conference calls with pizzas in the boot.

I have a few business partners in each of my companies, I have parts of business I prefer not to be in charge of, which granted now I could hire for, but I prefer bouncing ideas off a peer. Helps keep momentum up, with the right people.

Brexit is actually good for us, only because the government was focused on changing some of my industries, and now they're too busy to do anything but argue about how to do a deal.. (or whatever they're on to now, I don't track anything not directly related go my industry)
 
Don't like ads? Remove them while supporting the forum: Subscribe to Fastlane Insiders.

Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post new topic

Guest post submissions offered HERE.

Must Read Books...

must read books
Download FREE and share!
Download
Explore books recommended by MJ DeMarco and other members of the Fastlane entrepreneurial community.
Fastlane Bookstore

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Ideas needing execution, more!

Join Fastlane Insiders.

Top