E39. Justifying Losses in Business

The Multipliers Club

With the Multipliers meeting in their new headquarters with shiny floors and freshly painted walls they sit down and talk honestly about major wins and also major losses, They discuss mentorship, the pro’s and con’s and more importantly the cost. The group reveal how much they have lost in business ventures and hunches. Stay tuned for some eye watering figures.

01:00 Big discussion on the crypto bug and how from hints and tips received the group accumulated a substantial amount, The halving of Bitcoin and different currencies. Also the big reveal; The factual figures before and after, this is not for the faint hearted.

02:50 GRT and Cardano, Sam reveals his methodology on his digital investments and how they fared in the end.

07:51 Jake Waters aka the Travel Entrepreneur proves his mindset and the reason why he has become so successful is his work ethic where he freely admits he has no quarrel with grabbing a sponge and bucket and cleaning cars to make his fortune.

12:30 Sam shares a story of him walking down the road and bumping into a panicked friend who had heard fake news of Metro Bank going bankrupt and the rush of people queuing to withdraw money with the fear that if they dont they may lose it forever.

17:20 Joe Todd breaks his silence and discusses the harsh reality of one of his profitable clothing businesses getting burgled and losing £45 000 of stock, a bad sale of a Rolex and lastly a supplier doing the dirty and scamming him and disappearing like a thief in the night.

27:20 The infamous story of 1 Arm Jimmy, the best bricklayer south of the river, who despite losing his arm could best and bricky in the industry, as the story unfolds we find out how a customer took him for £120 000.

38:10 Joe talks about his business and how he is currently at full capacity and turning down millions of pounds of work and the heartbreak when he could have to take the work when a big job fell through..

46:40 The bounce back, people often think it's a swing and roundabout scenario where it will be made right by the universe. Unfortunately to think like this is wrong, when you make a loss you have to work twice as hard to rectify your mistakes.

52:10 The cost of mentorship, how much? why? and was it worth it? Sam talks about making sure you do your research because the advice you could get may very well be the wrong advice.

For more information about this episode, head to our Instagram @themultipliersclub. The Multipliers Club is a community of ambitious young entrepreneurs dedicated to personal and business development. Join your hosts, Joe Todd, a construction entrepreneur, Luke Harvey and Sam Warrington, owners of a social media agency, and Jake Waters, a luxury travel expert. Together, they provide insights into the modern entrepreneurial journey, sharing their experiences as young founders who work hard and play hard. In addition, the podcast features lessons and wisdom from a carefully selected roster of respected business experts. Stay tuned for an engaging and informative conversation.