Epiphany. We managed to turn £5,000 into £18m in nine years, so not bad going. It did involve living off £1.50 per day for a good few months but at least I lost weight as well!
Are wise investors born or made?
I believe in nurture over nature. I still remember the date, time and location that I started listening to my gut and trusting my own instincts.
Do you believe it’s become harder for entrepreneurs to make prudent investments since the crash of 2008?
To a certain extent I think it has become easier.
What advice would you give to entrepreneurs who are looking to make a major investment?
Several wise men have told me it’s better to invest someone else’s money than your own, so wherever possible look to leverage unsecured finance.
What’s the worst investment you’ve ever made?
In a company in Australia. The owner expected far more of my time than I was able to offer.
What lessons did you learn from your worst investment?
To be explicit about not just the money that is changing hands but also what is expected of each party in terms of time and expertise.
Which sectors are most likely to offer handsome returns for business investors?
Marketing is going through a huge process of change and change creates opportunity.
Are there any sectors you feel should be avoided?
A sector most in need of rapid innovation would be logistics.
What was the best piece of investment advice you’ve received?
Never be scared to cut your losses early if your gut tells you something isn’t working.