Theo Paphitis: Dragons Den & Former Millwall FC Chairman (Net Worth £280MILLION) [Business, mindset, entrepreneur, disruptors]
In this conversation with Theo Paphitis, retail magnate and entrepreneur, Rob puts forward questions from his own community and followers. The discussion provides an illuminating insight into the life of an individual who is instantly recognisable as one of the Dragons from the Dragon’s Den business programme.
Theo shares his experience of retail and how his journey and expertise have been shaped through his wide-ranging experiences, listen in now
KEY TAKEAWAYS
How do you value a business?
- It’s very simple everyone values a business differently you have to take some of your own values into the valuation.
- My pound is worth the same as your pound but if I’ve got something more to give to the business then my £1 is worth more.
When you have no money and no experience how do you get started?
- If you are bringing passion, enthusiasm and a good work ethic this could be enough to get attention.
How can someone believe in themselves more to pitch their ideas, raise finance?
- If you lack the belief and confidence then you shouldn’t be doing it.
- When you are running your own business there are lots of challenging times and you need to draw on your inner strength, confidence and self-belief to be able to continue.
- If you haven’t got the basics your chances of success are even less
What is the future of the high street, retail and how will it affect e-commerce?
- It's going to remain tough we are going through structural change in the way the consumer spends their money.
- The consumer is telling us as retailers that they want to interact in different ways. As retailers, we must respond and interact with those people in the way they want us to interact being led by technology.
What does it take to be successful in business?
- It's not ever just one thing but you must have the drive, passion, ambition, the common sense that is not common, the resilience to get up when you are down, the will to succeed and also the ability to identify the right industry and the right business to enter in the first place.
- I started with nothing, worked hard, had some breaks and I'm now in the fortunate position of only investing in projects that really excite me.
BEST MOMENTS
‘A lifetime is all our lifetimes and we each have different experiences’
‘As a retailer, you are going to be up to your elbows in muck and bullets for a good few years yet’
‘The value of the physical is very much in the service’
‘We had some incredible highs and lows and I wouldn’t change it for the world’
‘Having a small business can be very lonely’
[Business, mindset, entrepreneur, disruptors]
VALUABLE RESOURCES
ABOUT THE HOST
Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “Disruptors”
“If you don't risk anything, you risk everything”
CONTACT METHOD
Rob’s official website: https://robmoore.com/
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LinkedIn: https://uk.linkedin.com/in/robmoore1979