Peter Jones How we made our Millions - Full (Michelle Mone, Richard Reed)Feb 27, 2020
is the question everyone wants an answer to what is the secret to extraordinary success is it determination, luck or is it who you know. I've been in business for about thirty years and I can tell you that all successful entrepreneurs share some unique qualities, certain traits that give them the edge, but what are they and can they be learned? I'm on a mission to find out what drives Britain's best entrepreneurs. This is this. I don't like something not being as good as it can be you would almost die for your brand and discover the human side that determines its success or failure are motivated by doubt maybe it was all that trillion headaches I want you to reveal your individual recipes for success you're definitely a hippie with a calculator you're pretty much molecular tv so i can find out how they
millionsif these guys hadn't sold me this business they wouldn't know what a hit mess with me i'm going to turn to stone you take a check from a hundred million pounds from you now that success in business is not a good science i have turned small start ups into multi-million dollar companies not all my companies have been successful business is hard but i have always believed that there are certain factors that can give us everyone a fighting chance.
I'm on a journey to get inside the minds of two of the country's top businessmen and hope to discover the ways in which the most unlikely characters become billionaires. I'll pass the time. with
richardreid founder of a £165 million milkshake company
michellemoans the self-
madeinspiration behind a multi-million dollar lingerie business worth £50 million on the rich list both have followed the same blueprint for success or is it your difference that matters most my journey begins at fruit towers in west london the home of the most successful smoothie company in the uk and its co-founder
richardreid other er ties offer that the doors are how are you alright going very have you seen how different the way you care yeah but i gotta do grass kivett bands and you are this i want to be in the grassy band yeah let's go to action. dance.
More Interesting Facts About,
peter jones how we made our millions full michelle mone richard reed...
It's got a hydraulic system so the fat gauges spin around and you can blast music out of those speakers up front. We take it to festivals. richard is leading a new wave of entrepreneurs who have embraced a style of business pioneered in the usa by companies like google, he believes that if his employees feel at home, they will be more productive and, despite opting for a open neck still feel almost overdressed doesn't seem like a good looking work environment and looks like a london gaming center no but it seems like the most important thing is first and foremost to have a neri milkshake so this It's kind of a chill out area, it's basically a big communal area for people Please come to the informal gatherings, what's that?
Oh, we call this via the Wheel of Fortune, so sometimes if we can't make up our minds, we'll put all the different options in here and then spin and let the sweet Wheel of Fortune decide, look you put your ideas here yeah that's me the other one becomes someone living are you here to make business decisions on a ferris wheel not to make big decisions but when you have a few different options like a bit of fun is it kind of a home feeling so is your kitchen yes and then you have people more living rooms do you let people use what they want to use yes no and that's the point if you want to use a you feel very welcome to wear a suit but you look we don't we don't tell people you look a bit like me now i feel now like i walked into a business environment for the first time and i am completely out of place well i have to say that I probably became pri mer minister because I would never judge we would never judge someone by what they wore that's just we're not it's not that kind of environment you have to wear whatever you're most comfortable with is you can do your best work I've literally seen a person sitting at his desk in his dressing gown not even that he was slightly pushing the boundaries of what you can wear to the office against the dress again he said he was cold yes after reading geography at cambridge richard founded the fruit juice company in 1999 with a partner grads John Wright and Adam Balan have a little space in the house, which is if you're 70 percent sure then do it don't wait around trying to be 100 percent confident in the right decision I think I've had the rare privilege to have passed the last 12 years doing something that I found incredibly exciting and interesting, mind-expanding and life-enhancing and doing it with my two closest friends, although who's going to make some shakes today Richard sells over two million bot loads of shakes a week, but they are expanding their range by moving into ready meals and competing with the Giants of the orange juice market.
It's about being natural natural ingredients making natural food, but also the idea of being natural speaking natural acting natural people can come at work instantly your natural personality at work every day Kimberly will be joining us as our new shopping book specialist so she can do the dolphin sound we won't hide behind some kind of weird corporate facade we'll just be who we are it's always good to be exactly who you are as long as you realize running a business takes try to make
money and i wanted to know if Richard had the gene to make
money, when did you really feel like you know what i am? an entrepreneur was me i was 16 and i was working in a dog biscuit factory in his field and my job paid two pounds an hour and the task i was given was to get on my knees and collect the dog biscuits from the factor and floor that it fell off the conveyor belt, so I went up to the foreman and said, do you have a brush?
I could borrow that you had to brush it. I could buy. He could do this job better and he looked me straight in the eye. He said son, you are the brush and I thought that's the split second. I decided you know there has to be a better way than this, so I left the dog biscuit factory that afternoon, went home, and hit the ground running. I went to moan, that I was just mowing grass in the village where I grew up and before I knew it I was building myself at £2.50 an hour and getting so much work I could actually give my mates work.
I have built them. at 50 now pay them 225 an hour so make a little more there if you don't like the situation then change it instead of complaining having the confidence to change what you don't like is an entrepreneurial trait I recognise, but this Cambridge grad was helped by having a privileged upbringing I am from Huddersfield in the North of England my father started out as a bus driver and works his own way. mom went out and worked nights so i worked two nights a week my parents meant big sacrifices for us when we were kids what was your school life like the first year i ranked 44 out of 45 in my class on exams so one from the bottom you know i think something clicked with me and i worked harder next year if i made it to 17th and i'm going home to say you know how to really please myself i made it to 17 so my mom said i think you can do it better than that and i remember thinking wow so do you think from that defining moment what was the confidence boost your mom gave you i think you're lucky i think it made me recalibrate yeah i think it made me think oh that felt pretty good but then it was like I'll actually know better yeah you can do better you can do better and he did yeah and pretty much the rest is history yeah to really find out why Richard has become so successful I needed the answers s to some awkward business questions but that would have to wait first, I have an appointment with a businessman who is polar opposites to Richard Reid the next stop on my journey is East Kilbride where I will meet Michelle Mon, the tycoon behind one of the major lingerie brands in the country.
I wonder what their corporate offices will reveal about their particular approach to business hello hello love you well how are you doing great good to see you well thank you very much welcome Ian this is our Scottish headquarters and we have Hong Kong and we have China too and I wanted to give you a blessing so you know in the bosom of the building and when we go up the stairs you'll see you're not honestly you're not winding me up this isn't ideal it's real yeah and it's shaped like a double D so there you go so this is the job st yeah , this seems too staged to me they can't all be tidy workers that's how we run things and if they look at any closet they want to look in there we'll all be organized even the closet yes they everything has to be organized I use closets in my office to hide things is really like this really everything felt too good to be true was this an act just for me and then here is a meeting room graphics too but as Michelle showed me around.
She knew there was one particular staff member who could help me learn more. The only employee who knows everything about his boss. The personal assistant. Let's meet Laura. Laura, hi, I eat pizza. What is it like working for Michelle? yes its very different from any job before it is stressful at times but overall what is the hardest thing about working for a busy and successful entrepreneur and you will swear you are a perfectionist that you can plan one thing and in 10 minutes she does it want completely? different she's just like that she changes her mind a lot oh yeah yeah i'm not afraid of change annoying people are dangerous they've been working on it for so long but i know all about
michelleso i have to stay one step ahead of her, no more scares.
Are you sure that as the boss I can tell when Michelle is in a bad mood? I call it the Care Bear look because she can look at you when she has to with him but she can look at you like oh no you think you get paid? Enough, yeah, they look after me, can't you see that sports ad? Sports Khairy out there but yeah yeah that's long after work 'cause I don't really take care of your gear 'cause I take care of you Michelle's gel-filled bra became an overnight hit in the year 2000 after Julia Roberts wore one in the movie Erin Brokovich, well, you know, I'm a nice person.
I left the sprawling Glasgow and always had a dream. Dalton was now one of the largest laundry brands in the country after leaving school with no qualifications has risen to take on the largest single brand in the world what we're doing here was capturing the market for people who want a bra for everyday Michele is a mother of three juggling family life and business commitments from day one I think we'll become Yuki's Victoria's Secrets Michele knows how to manipulate the press while doing everything she can to Maintain your brand and have a celebrity image in the public eye.
I'm very picky. I'm a perfectionist and it's illegal in this room. I always want the best. I think I'm a nightmare. You expect a lot. I think well. I think so, but why are we where we are? not tomorrow it's a couple of weeks ago a couple of weeks I went CSAT though we just heard the negative guy okay okay I'm going to find out a little more about this lady Michele comes across as a demanding leader hours up front the business environment t Lo that Richard and his co-founders have encouraged could not be more different.
Where is his office on this? yeah i sit at this desk here now i'm sitting here i can see you saying that even though johnny came and sat with me well we got this too so you can get everyone's file cabinet out like them. you can sit down because again we just want to make it as easy as possible for people to talk to each other instead of relying on emails and phone calls we were big fans of being as face to face as possible other than with Abigail . does it take you seriously yeah sitting there swinging a little bit a chip it's like it's a little bit strangers divided now well i don't think you mention diversity sitting there on a swing huh?
Do they sit there and sway and talk to you and Richard you? you're down today, i guess i wouldn't have judged the people in the seat you sit on. I judge, no, no, I'm just late, it distracts me, right? I want to be
fully accessible and have people that if they have something they just want to ask quickly, we're not putting up walls between us. I could not. I keep thinking about berating someone for not performing while they sat swinging a basket like Little Miss Muffet, but I was trying to keep an open mind about the way Richard runs the organization.
Good afternoon, creative team. Hi, I'm Peter. If you can call me organized, so what's it like to work here? Is it strange to work on artificial grass? and it's nice, quite, I get quite used to it, no thanks, couldn't you tidy up a bit? I don't think so because we are working. It's a good work environment than working in chaos. A disaster. Yes. Peter finds his HeLo visa a bit too messy reallyI won a little nervous, which doesn't surprise me, so now I'm seeing guys who know they're going a lot differently with respect. I would never let my staff show up to work like this, but something works.
Richards went from nothing to 75% of the shake market share People work harder here than 99% of companies ever will People put in a lot of energy Personal commitment Take it very, very seriously it's just because we wear t-shirts like bad we're not working very hard it's really hard the foreman on the plus side he's incredibly inspiring he's incredibly honest he'll tell you when something's rubbish and when something's great really quickly what helps is probably get really emotional sometimes and get a little carried away and might change your mind about things, he always thinks a lot on his head and walks out of meetings which i didn't know was true but i was told he had a reputation , that's what I know and the n he comes out you're like really cool if you like him you'll join this I'm fine I'm so glad you say I'm better come to your office with a camera Kevin and ask everyone what They think about you, she's great, you see, you know underneath what seems to be chaos.
I was beginning to see how Richard inspires his staff to work hard for him in Glasgow. He had the idea that Michelle Mon takes a much more traditional and orderly approach. It's my room. Wow, it's like a hotel room. He had never seen post-it notes so evenly distributed and so perfectly placed. four hours of sleep a night like maggie thatcher and then four hours of sleep that's what people say are you the iron lady in brora's panties? maybe my husband says get that bloody BlackBerry out of this dormitory where your business partner was yes he's been there since the beginning he's seen it grow yes he doesn't like the spotlight t said so and people think that it's just me but actually you know he's mentioned today too and he's very talented at what he does he's also very involved in business yes very much but while our husband is keeping a low profile this tactician publicist is out there mingling with the rich and famous but it's not just for fun associating with good looking celebrities is part of his PR strategy so these are all your girls are they for a selection of yes a selection of not all good?
I reckon you got Rachel Hunter Rachel Hunter penny Lancaster Helena Christensen Sarah harden Mel be on the list it goes on and on Wow in 2003 Michele hit the publicity jackpot when she dumped Rod Stewart's girlfriend penny Lancaster and replaced her with Rachel Hunter his ex-wife was a tactical move to get many on board well it runs on two cents for two years and yeah we got close and everything and but things just changed and went on for months and months and months but I really it personally affected how much of that was a turning point for his business in a massive positive way because it was a worldwide brand chase it's the richard branson school of public relations to create a multi-million dollar business and use the popular press as free publicity for that.
What does that wallpaper mean? Yes, it's a wallpaper. AHA. I dated Welby, that's New York Fashion Week Men's Mission, yeah what's that painting Asst yeah hello magazine Michelle? when I was very overweight I gained sixteen and a half kilos when I went through all the hard times building the company and when I put my house in the bank three times the security and I stacked on the weight and not like I figured there we ultimately lost six to one , you would die for your mark, oh I tried hard I have kids but it's good that's weird when I tell you the story of how we almost M busted them I almost will. going from here to hell for the last and the run for the bandit Michelle seems like a hard-nosed boss, but to
fully understand how she became a force in the laundry business, she needed to hear how it all began.
Redundant went to Donna's dance one night now we're so uncomfortable cleavage Brian came back to the table drunk and said I'm going to make up a bra that's how it happened to you and the three years I worked from my bedroom went into £240,000 day I beg steal Meanwhile, my husband, you just know, kept saying I was crazy. I went to the launch in London and we had surgeons, well, the actors dress the surgeons. Coverage and the police came I got up and said who is responsible for this. I said me and he says move right now.
Let's arrest him. advertising based had no money had no advertising money she came and me into our industry where some of the big new brand launches would spend £2m launching a product i had £500 left 4% fibers yes you very much i It's amazing how all or nothing running this business and building this business has probably taken a lot out of my life but it's my life. I'm starting to see two sides to Michelle now that it started to emerge for me the one that would actually take care of you and nurture and take care of you and the one that says if you mess with me I'll turn to stone and that is L does and it's interesting to see that psyche because I'm almost like the Silent Killer it's not something to be played in no but in an i It's an interesting way because you're driving your business and really driving it forward nothing will stop yeah that's fair but to me M makes a Thing: If you brake with me, you never really come back and that's self-confidence, belief is a key trait.
In all successful businessmen, Michele has certainly weathered some hard times in West London. She wondered if the reason Richard Reid always seems to be smiling is because his road to success had been a much easier journey. Kindly, he decorated the stairs with a brief company. story the business starts to gallop bigger and we start making our dancing grass fans this is our recipe berkeley publishes the success that Richard found in the early years of his business was based on an unlikely model it seems they were more focused on giving money away which actually doing it this is fruit stock which is a festival we did in regent's park it was free we did it thanks to all our drinkers we give 10% of our profits t or charity every year mainly for i think all the Innocent foundation found in countries in the developing world where the food comes from but spreading goodwill is only possible when you're making a profit right now we're up to 2008 which is your definitely the annus horribilis is perfectly innocent after four years of continued growth Richard had to face the harsh realities of running a multi-million dollar business a new competitor launched the pound collapsed and fruit prices skyrocketed almost spelling the end we haven't raised our prices once every ten years and secondly a big competitor came up against it and took a huge chunk of our market share , which meant we lost a huge amount of money actually some of what you lost oh it was like it was
millionsand it was more we lost more in that year of 2008 and we won in the entire history of the company so which wiped out any gains we've been making.
He had the difficult decision of drastically reducing the size of the operation or selling a stake. n business relief came in the unlikely form of coke yes these guys invested in early 2009 in a way that has been building for the business myself, Adam and John have retained full control of the business and, as you can see, where we are. We continue to do business in a very innocent way. I'm sure we'll talk more about that. But. Absolutely absolutely. the soft drink market, but before I questioned it, I needed to get a more accurate picture of Richard and his business: Richard, what's going on there, so this is our commercial team, we test the ads, we want to make sure they work and This is if you test the Abbott ahead of time to see how it rates people if they like it if they remember it if they associate it with innocents and so you can judge before spending all your money on the media which ad will be the pe People like best and that's essentially what those different scores are.
Testing is pretty serious stuff that happens in this room. Yes absolutely. We take things seriously. Fruit towers are an interesting contradiction. factory where you want to cut anything. I like to look at set pieces, but as I joined in on the fun at the juice lab, I began to see where the genius of this business was behind the artificial turf and lunchtime barbecues. There's a hierarchy that demands the very best from its people, the front of house is great guys come and have some fun we've got grass we've got ping pong tables we've got a lovely environment for you to work in it was very intriguing coming through by that office where I clearly saw some pretty serious actual planning going on behind the scenes.
It is not a contradiction. Everything is part of the same everything. We want to take seriously the parts you should take seriously, but we do. we didn't take ourselves seriously in the process one of your things was early weeds you come out of meetings you have a short attention span in terms of looking right i need to keep going you are pretty random in your decisions and you are quite changeable i like change i like change I like the future I like you to know that things evolve I'm indecisive I don't like something not being as good as it can be and I don't like someone - you're a perfectionist so I think it's one of my drivers yes I think in as far as i know, it can cause chaos at the last minute if i do well, how about that time?
I have learned in the last two years. slightly better moderator richard is a savvy offbeat entrepreneur who thinks he can make money by focusing on a mission but surely without profit there is no mission if you get together and talk to a lot of entrepreneurs across the country and tell them what their number one goal is Objective Well your main objective would be to generate income and make a profit. I disagree and that is not his goal at all. I disagree. I think in my experience, when you look at the largest companies in the world, they are mostly driven by deep feeling. submission and money are pretty incidental like 2008 we messed up ok we messed up the market moved against us and we weren't prepared for its course money is part of it I don't wanna be fake which implies that it is not me.
I hope you know that I will become rich from innocence and for that I will be grateful and grateful to you. I think the best companies in the world are driven by a sense of mission and purpose Google that you established in the same month the same users and have grown at the same time to be an 80 billion dollar company so somehow In a way, you can say that winning is what they talk about in a sentence that they exist to organize the world's information and make it universally available. That is a simple and clear mission. he explains what his business is all about and that's what the innocence led by my journey really just started, but i was already discovering that an entrepreneur's business is very much a reflection of who they are as people.
Michele mone is incredibly tenacious, but she wondered where the relentlessness of her was. The momentum had come and if his formula for success could last forever at first glance, Richard Lee's approach seems counter-intuitive in concentrating on the good his brand can achieve rather than profit, but we've also heard of his childhood how calculating he can be more successful entrepreneurs and women i know can identify exactly where and when his entrepreneurial journey began find out where that went for Richard and Michelle I am visiting places on opposite ends of the country and on the social spectrum Michelle tells me he's taking us on a tour of our hometown of Galla gate you're entering the East End of Glasgow really don't break the hard work and Richard is showing me Camb Ridge the town where he started his entrepreneurial journey in Glasgow I was going to find the rags to riches cliche for many, many real memories of growing up here and this is where i started my first business when i was dead.
Was 10. You were 10, yes. in the papers in the East End and then when I was 11 I had 17 teenagers working for me so you had a bunch of people working for you at 11:00 attached here first stop would be Michelle's high school , a place from which he left without any qualification at the age of 15 this is this is yes this is where he was told that a future working in the local supermarket was the best he could hope for. but um what's your best memory yeah my best memory and i don't really have good memories to be honest with you i really struggled academically in school it was horrible um and i guess i've always been told you know you're a failure and you. i'll never get it right and i guess everyone around me kept seeing michelle you can't do this and you can't do that and you see why why you saw that you can't surely you can surely we can find a way and i used to challenge everyone reallyintimidated and kind of like yeah I'm always a little bit and yes because I wore my uniform and she always thought that always no yeah wear your uniform and what about your teachers?
Did you have any idea that Michelle Mohan would become a successful businesswoman? I don't believe it. I remember when I was 15 I had to go see my eraser teacher she says I want to be an entrepreneur and she said what does that mean it might have been a determination to prove her teachers wrong that drove Michelle in those early days, but she was about to discover even deeper reasons for her desire to be a well done east end girl always wanted my own room and my father cut half out of a single bed put in the bedroom cupboards and lorn up to the ceiling and above is sticky are stickers that were all stars on top and I loved it so much that the next stop on our tour was the house.
Michelle grew up here so this is yeah which was the actual house which one and well first of all I grew up here not so first floor just first floor yeah and then my dad's and when he was my age he was confined to a wheelchair. he paralyzed from the waist down a hemangioma disease what this was not spinal cord so obviously he couldn't go up stairs no chair to eat so we moved to 54 land rate just whoo and that was the first time i had my own room wow this is 54 years old yeah that was my mom and dad's bedroom.
I dare you to ring the bell. I knew I can't do that, Henderson. hey huh hi come on ok yeah oh my god oh wow i cant believe this is my old house and that is the bathroom isn't a bathroom like your room? That was your madness, my room, oh this. it's my water you know i love this room this was my first room and i kept demanding clean and tidy from this living quarters from a national brewery his old neighbor Trisha still lives next door and has documented his remarkable rise to success the show you I have photos.
In fact, I also have clippings of people, but didn't you notice that terrible, terrible model, terrible Maria? She does not talk to me. She is quiet. Thank you so much. Follow it through to the end I can do it That's true Michelle was basically the draw and played it all out. I could see in Michelle's eyes how much this visit to our old home meant, but facing her past wasn't going to be easy. dinner I wanted to know more look at the first bad memories here I would say that there were many difficult moments that I try to erase and that was my dad's illness that was my mom you know going through depression losing my little brother you know I always used to go to bed crying i'm not going to go to my dad in the morning and it was just horrible so i won't be you when your brother is done and i was about 8 years old yeah i don't mean but everything if you do everything yeah you come from a card background you've spent your whole life trying to get out, here's something that makes Michelle special, do you see yourself especially, would you see yourself as lucky, well, you know bad news later? bad news and I don't want that I won't accept when people see because you're from the East End you can't succeed in contrast Richard's parents hard work to finance his private education paid off he became one of the elite few to make it to some john's college cambridge so we've been here for 20 years he shared a room with adam balan and john wright together they would become the co-founders of the famous milkshake brand so this is a canteen yeah yeah the innocent canteen three meals. one day over three years here more or less here is n ice dinner and yeah this is definitely where it started because the three of us became friends with Richard since the first night in college we met at the college bar and I think we saw A bond, don't we ever love? you do it because he needed geography, right? mm-hmm, was it because you couldn't think of anything else?
The honest answer is when he was looking at the different options, the only topic that had fewer lectures was the economy of the land. that I had seven hours a week and problems he had eight hours a week and everything else had more so I did the work okay what an economy oh wow okay I made the same gang stuff it's almost perfect, isn't it? You have somebody that economics knows how to run a business, you have something that the season really cares about, look what they did because it would have fun. I have someone who really knows the whole manufacturing process to put it together, unless that's interesting.
The thing that fits and we weren't here was that it was a lucky lucky in a partial actor what you had here was three very close friends who had very different skillsets but had a whole set of shared values and vision and things that they wanted to achieve and I think that it was the starting point for the entire business from which the successes come. It's incredibly rare that three mates together in college build a multi-million dollar business to try to figure out just how it happened the guys took me to meet Colin, their residential Porter, so they were pranksters and then they were enjoying their college life. innocent, yes, Richard's entrepreneurial story begins here in Cambridge, in a dark and dreary basement. student nightclub for miles around we'd be turning people away at the door i think the nice people were coming for the free pizza it's not news hello it's er that was terrible aboriginal strategy we were outside a tree at nine o'clock sure i get people down early and what happened is loaded we've always shown eight the free pizza then left so we're left with an empty nightclub and for a box of peanuts.
This is where it all started. I had a lot of Fun. Because? you did yes absolutely and that doesn't seem to change much no it's skinny ferg it's just one of the best parts of college with your two closest classmates oh it's so much fun both Richard and Michelle wanted to create . better futures for them due to the circumstances around them Richard desperately wanted to make his parents proud and repay the sacrifices they had made to provide him with a first class education michelle was driven by the desire to do better than those around her oh how nice Is that So what is it that unites all entrepreneurs?
Is there a formula to earn millions? If you ask the investors who discovered Michelle and Richard. Wasn't it your business plans that impressed you? Borås Pinto bought 18 percent of innocents for a quarter of a million pounds. I care less about what the business is in the industry or what the business ideas are and more about the people I thought were extremely bright extremely eloquent let me just say they are the best management team I have ever worked with Sir Tom Hunter endorsed Ultimo with a hundred thousand pounds you can look at the business plan you can look at the numbers and you know you've read as many business plans as I have and none of them really do what they say they're going to do really you're just investing in the person we saw something in Michelle, that determination that she could and she me and you then you then you make an investment and parents report both investors made very healthy returns when they sold their shares in London Scotland's first billionaire gave me a clearer picture of what has pushed Michele mone to be successful although Michele brings this up you know it can be quite fragile and then what people don't understand that most of entrepreneurs is that we are driven by doubt a lot of successful people you apparently think are so confident but we are all trying to prove ourselves all the time yes for my final meet up michelle invited me to his Mayfair apartment so I could take a look at it. private world was here I hope to discover the characteristics that have made it successful hello hello who are you why are you but nothing could have prepared me for the obsessive attention to detail that I expected okay you can come see that is amazing everything has its place it doesn't it should be dirty, it's not, everything has to be organized so that everything is in order five twenty fifty, yes, the same hangers, yes, all the same color, everything has to be the same and the children I have KP is that don't make fun of hangers and give you a kid who won't tell you KPIs key performance indicators that are business drivers yeah to measure success do that with your own kids and people not sure if your drawers don't are organized and your closets are not organized your family is not organized so your life is a maze you have to compartmentalize everything in your life and you don't switch between business and personal life which is different for many people, yes Yes, a lot of people were very different in business today, when you are at home to be successful you have to be able to exercise control, but Michele takes it to another level. being a reason she has to organize every detail around her and tom hunter's words still ringing in my ears it's self doubt that makes her so are you proud of yourself?
I don't think I think I've lost you I know all the weights and I'm getting fit you know I'm getting my life in order and I've been grounding myself for 10 years and I kept eating and eating and eating and eating because I didn't feel like I should have money and success but I feel like I'm much happier but I still don't think I've made it so would you say you're lonely or you're looking for something and I'm not sure maybe you're doing these things to maybe fill a void or fill something , since being an entrepreneur is very lonely, you will know it yourself and where you know you will take all the worry and everything else on your own shoulders and, um, do you feel pressure?
Oh I feel pressure 24/7 yes and I can't imagine life without the pleasure to be honest. I'm trying to understand the psyche behind an entrepreneur. I see many similarities in me and in you. mm-hmm. I see that you have to control. I can see that. you are quite manipulative I can see that you are very direct you know where you want to go but at the same time I can also see a lot of insecurity the last time I was in your offices you told me something that hit me a lot because I had never spoken to another businessman before that he actually said yes i am considering suicide and i was in a very dark place in my life, yes how do you take me back to that moment of how did you feel to get to that point?
I just think I tried my best and I guess I was feeling and who are you looking down on I was letting my family down you know and it's the fear of going back to how I grew up or I guess I'm struggling but I thought I just couldn't see our way out , I just couldn't when he took me to the East End of Glasgow, there was quite a poignant feeling when I got to see the neighbors you had to see your house hmm but there's a lot about it almost saying I can't remember a lot I don't I'm doing everything blank but I guess you know that growing up and with the death of my little brother and my father, you know, he's been confined to a wheelchair at the age of 38 and I thought, well, you know, and i started to come back to myself oh boy i said i wasn't crying but maybe it was all of that just billions and heartbreak it made me fight to get here.
I'm so sorry, don't apologize because it's something to be proud of and it inspires a lot of people and the reality is that an entrepreneur is a composite of all the different things you've been through on a journey, isn't it? ? and i think everyone sees that the journey is easy it's glamorous we see michelle walking the red carpets we see in the magazines looking beautiful but the hardship and hardship of the journey and i would say the next few years in search of happiness and success i I think you will, thank you, I really hope that discovering the reason why someone strives for perfection can be an emotional experience. the relationship between ri chard and one of his suppliers to discover the savvy businessman behind the self-proclaimed hippie brand there's nothing hippie allowed in me nothing hello well hello although i've never been a fly on the wall in a meeting he doesn't suffer fools lightly where's the suit what do you think pretty good red and green yeah that combo we have planned this who you gonna wear now edie edward so now dramas cherished so this is it it's all black currants we see now yeah Wow we've been working together for a while hmm we started in 2004 it was official sure we and we did it we bought less than a tonne of blackcurrant heads where is it this year 210 tons were bought what i was really interested in was how Richard and Ed won money with each other, it can't be cheap to buy homegrown fruit and I was eager to know their margins, probably for the first time in history, our The price for you per Brix is lower than our price for the concentrated people per Prix no doubt if that has happened before that's a decision on our part so prices have gone up but we want these guys to be there tomorrow so that an interesting concept written here is that the business is supporting the local farmer the local farmer is actually supporting Richard yes you have avery interesting partnership between the two of you yes correct and i think we both share this philosophy that we will do better in the long run by collaborating it is a mutually beneficial relationship but that is the key he is not better fed he is financially willing to reduce the price of that product quality for you to support your model i think we should let ed say all right the blackcurrant market is sometimes known as the peak of the software industry it is very cyclical and always insists on the jackpot at the peak here no it's necessarily a good deal they can take the product off the shelf tomorrow yes you can price it off the shelf we want that product still Standing there Richard looked uncomfortable discussing markups with a price vendor.
He was relieved to discover that, after all, he's focused on a model of making money without profit that he can't give to charity. The smart thing is that the farmer has bought into Richards' mission and that's why he offers so much now that it's an astute way of doing business that naturally he has found a place where he can really represent his brand by creating and image maintenance and everyone is thinking, 'Oh this guy, why isn't everyone like Richard, you know he's starting a business, he's got great ethics, he's helping the local community and he donates to the charity, but the reality is that you are all of those things, but you are also a very tactical and very astute entrepreneur.
I take that as a huge compliment there is no money to give to charity if you don't make any money in the first place so we are absolutely proud to be entrepreneurs entrepreneurs and capitalists and we have an altruist On top of that I also tell you that the The world would be a much different place if more companies did it because it's a basic saying if we took 10% and made sure it went to people and countries who, frankly, need it the most. of what we do I would redistribute wealth while still absolutely protecting the capitalist system which we find to be the best way to work definitely hire a hippie with a calculator we are not just six trainers playing around I think some people assume that because sometimes we wear t-shirts to work but what you wear doesn't reflect how hard you work it's been a big tough challenge the whole time it's been extremely nice and exciting too the way Richard does business is admirable and for that I have to give him and the credit from his partners, but there was still a burning question he had to ask with such a strong entrepreneurial spirit: how did they justify selling a majority stake in their business to Coca-Cola if he had known me three years ago? and I said Richard, you have this coke deal, Earl, you could meet them four times a year, they wait to run the business, they can give you thirty million and I said, Richard, I'll give you the same day. you thirty million which one would you choose coca-cola or
jonesafter seeing you in Dragon's Den I would definitely choose Coca Cola definitely that's outrageous man you're a tough negotiator and you definitely wouldn't have extended the terms than coca-cola yes but I compare it a bit like if I had a very famous chain of health clubs and Cadbury invested in my business.
Did any of you three think that I don't want to do this without it? the money that comes from coke would have been a hugely reduced business we would have had to lay off half the team we have had to cancel our international expansion i feel like i am interviewing like a politician you are not answering my question what was the big vision of you sa Now that we are all absolute everyone was 100 percent off it was a very unusual deal they made where they would put money but the apps stay in the background like me and Adam and John to keep full control of the company, even die-hard cynics would now admit that we are utterly more innocent than ever.
We have made even more progress in our sustainable agricultural projects. We have continued to fund charities. He's been in business running one of the world's most popular brands for 125 years. In a very small way, there are things that could lead to innocence as well, so I really think it's been a relationship that's been good for both parties. you have an ultimate goal i want to get rich and die poor the idea is that i would love to become as strong as you really define it but at the end of life you have known how to give weight Coca Cola come knocking on your door and say guys we want buy them is that conversation you'll have hmm I don't know actually 20 million every 50 million go ahead mate a hundred each what price do you put it on I don't know is the short answer when you take a check for a hundred million pounds from him now ok it's over from twenty to fifty to a hundred and twenty seconds, I'm going to wait a little over 100 million for your share of innocent cash in the back of the Maybach I'd give my wife candy, as expected, was a hesitant response from Ridgid, but I felt like I'd gotten as close to him as possible, admitting that he's in it for the money, even if he ultimately gives it all away.
Spending time with Michelle Mon was both. personable and intriguing under her tough exterior I found someone who is quite fragile, not a trait you would open the associate with being an entrepreneur, but like many of us, it's that self-doubt that drives her. I am not happy with what I have achieved. I do the best I can, you know and I can. If you can't do your best and it doesn't make sense, Richard Reid was a tough nut to crack, but now I understand why he's so successful. He has very cleverly created a product that harnesses his values.
My entrepreneurial spirit is to do something you love with people. that you love the way you can be proud to try and do better these are just two inspiring ways to make millions every entrepreneur has their own eclectic mix of hard work, luck, skill and self-confidence and one thing is for sure that we don't He doesn't easily take no for an answer his job as an entrepreneur is to listen to no and turn it into a yes I don't just take no I always say why why else I take risks every day life gets boring Italy becomes the next victim of Europe's debt crisis.
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