Відео

conversion cycle is great. But you cannot ignore the margin. what vthe the GP on those fast conversion. Early lesson I learnt from ebay selling is you can price your items low and sell them quicker. But just dropping the price by £1 on items, can make the profit only a 1/3 of another seller who is selling for £1 more. It was a difficult one. You have very little sales by the profit on each sale is acceptable. Or you can make 10p profit on a sale of £6 items and work like a mad dog shipping humoungous qty of stuff,. Illustrated example below. two retailers both buy a pen for £1 to sell retailer A sells it for £1.20 and has a 12x conversion 240p retailer B sells it for £1.30 and has a 8.4x conversion retailer A total GP is 240p retailer B total GP is 252p I know I use to conversions rates of the two giants you mentioned. I'm not implying that is the case with those giants. But I would like to see how those higher conversions relate to the profitability of some of the conventional supermarket which have less converisons buy higher margins. In costco people just buy just for the value. But profits are thin..

There is the government backed Development Bank of Wales that deals with the £250k/£10m sector you mentioned to encourage entrepreneurship in Wales. It’s surprisingly forward thinking for something Welsh 😄

Vote for Nigel Farrage. He is saying all same things that James is saying.

It's a shame the UK is completely failing compared to all other economies in Europe, The UK needs significant capital investment to grow the tax base, Austerity has brought the country to its knees

So much sense in this video, well done James! How can you push these ideas into the government spotlight though? The trouble is they only think in reelection terms, not generational terms. If the government were rewarded for long term success then we may stand a chance?

If I were in Government not was in Government!

So what your saying is don't vote labour or conservative. Got you, let's get rid of the uni party

There's an unfortunate and likely true concept though, James, that the government and by extension the big corporates actually don't want it to be easy for small businesses to thrive. It's in their interest to have a population that has only just enough to get by and is generally needy and reliant. It's one of the most powerful forms of control and is why our taxes are the highest they've ever been. They're taking out money from us and putting up barriers to business for "our benefit" and "our safety". Bullshit. The problem is far too many people just lap it up and fall into the good cop bad cop pantomime that goes on between the main parties. We need real change, not just more of the same by a different name.

James for Prime Minister

Great ideas, James. We're in residential investment/ construction, and every trades person we speak to are saying that this year, they have seen a significant downturn in trade

I would vote for you!

Nah the answer is more taxes. Lots more taxes. Tax tax tax. Already pay 50-60% in tax, let’s jam it up to 100% and really get that growth going

Well done James, you have hit the nail on the head with so many of your points. One of the big problems with the government and business is that we have the Department of Business and Trade, which focuses on overseas affairs and is run by someone with absolutely no background in creating, running or developing a business. We need to split this department into two, one as the home office, dealing with business within the UK, promoting growth and being our voice in parliament, with the other being a foreign office dealing with negotiating the trade deals that UK businesses need to sell worldwide, but also supporting the UK businesses in exporting their products. Both of these departments should be run by someone with a track record in business, especially one that has traded from the VAT registration turnover through to a 10 million turnover level or beyond. The home office version would need lots of sub-departments tasked with integrating with other government departments, to push for lower barriers in planning with local authorities, to push HMRC and the chancellor's office for schemes in taxation that will promote growth and even with departments like the ministry of defence, to try to open doors to assist in UK businesses to learn how they can become manufacturers and suppliers to that large part of public spending. But then again I think that all departments of government or ministries should have people in charge who have a track record in that sector... What a crazy idea huh?

I agree with everything James, UK needs reform - politicians needs to encourage entrepreneurship and families, UK needs to bring back manufacturing if we will ever stand a chance with Germany and Poland.

I'm voting for the Partyman Party on the 4th of July 🦾

We'll just vote for James.

James for PM

Our engineering sector could well be in terminal decline. Don't expect this country to be competitive in innovative manufactured products any time soon - if at all. It will take a massive change in attitudes to engineering in this country and it could well have got to the point where it is beyond reverse. There are simply too many countries across the world who do take it seriously and now do it better.

keep vat and remove all income taxes keep corp tax at 10% on profits

You need to vote Reform, lower taxes and business friendly party. All the others are just takers.

Looking forward to watching this 🎉

Council Tax is good as long as the local council spend efficiently with good services i.e. policing, hygiene, road maintenance, public transport etc However a posh area never guaranteed such matter and potholes everywhere regardless how wealthy the residents are, where an earth those money gone? That's the question mark.

Uk just does not have enough rich people taking risks to pay other people’s fair share

My own business in uk chicken shop i make 100000$ monthly And 2nd business grocery store + convenience store +Shoe's business Grow your self and your business don't be fear 🎉

I really don’t believe in the love want and need thing. You can literally apply it to anything. Selling bugs. My dragon wants them, he needs them and I love him. Honestly drop this analogy for someone better buddy. Apart from that your the top man in UK I watch for business

Great video. It’s ok to start on a not so good Business model. But one should iterate it quickly to be better.

A guy I know opened his own moving company and has a few employees. He once said the reason he quit his 40 hour a week job was so he could work 80. Lol

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?

1)Restaurants. 2)Low Barrier To Entry.(Dog Walking,Cupcake Making,Party Planning. 3)Boutique Clothes Shops. 4)Hotels. 5)Online Marketplace Selling. 6)Events.

1)Child Care. 2)Food Services. 3)Contract Catering. 4)Commercial Property Rentals. 5)Niche Wholesale. 6)Commercial Hygiene + Waste Services. 7)Professional Services.

1)Think With The End In Mind. 2)Be Passionate About Your Cause. 3)Having Untold Amounts Of Resistance. 4)Mastering Relationships. 5)Commercial Awareness. 6)If You Don't Innovate You Will Evaporate. 7)Being The Best Marketeer. 8)Stay Teachable & Be Curious.

1)Cash Conversion Cycle. 2)Low Level SKU. 3)Sticky Customers. 4)Residual Income 5)Cultural Statement. 6)Proprietary Products. 7)Recession Proof.

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.

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

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

Content 8, suit 4.5

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

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.

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

Show me the Money !!!

The don is at it again

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.

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.

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

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

Thank good advice

The amount of value in this video for it to only have 6.7k views is literally blowing my mind.

The video resonates with our experience in the import-export business, underscoring the importance of thorough research and building strong supplier relationships. The emphasis on attending trade fairs and understanding market nuances aligns with our approach to navigating product regulations. Using agents for sourcing and managing quality control are strategies I've found crucial for success. This practical advice reaffirms our belief in the value of diligent planning and strategic partnerships when importing from China, making the process more manageable and effective. 💚

Great info as always. You'll find the Nudge podcast interesting on what it says about 10,000 hours expertise.

😅 Don't under estimate the physical volume of a product... like that time I bought biscuit tubes for Christmas and 7 DHL vans arrived at the door of my 300 sq ft factory.