How To Turn 37p into £100 Million with Entrepreneur Neville Wright (Part 2)

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Welcome to the second part of a two-part special interview with Neville Wright here in Business Mentor Podcast!

From rags to riches. We’ve heard this more than a dozen times from the mouths of every entrepreneurs, business leaders and thought leaders. But today, Neville is going to prove to you that it is indeed pretty simple to build a business from absolutely nothing. Listen how he started counting his earnings to zero to millions. Neville shares his personal stories which motivated him to start his business. Discover the rocky start Kiddicare had in the 70s, and how it grew to the multi-million brand it is known for in recent years.

KEY TAKEAWAYS

Marilyn, Neville's wife, had to face derogatory comments from others about the fact she was working on a building site. In the 70s, it wasn't the "done thing" for women to work on building sites, and Marilyn had had enough. So she told Neville she would run the business instead.
Kiddicare began as a second hand shop for babies furniture. But failed to bring in income, and decided to sell it. But on the day theyw ere due to sign over the business, a rep came in and told Neville that with more of a plan, the business would take off.
A year later, the business was booming. Neville and Marilyn had so much success, they moved to a much bigger premises time and time again (7 times).
The business was originally called Rainbow Warehouse . The Business was renamed Mothercare in the 1980s.
You need competitors to move forward Neville explains that the business wouldn't have grown, if his comptitors didn't force him to.
Team work makes the dream work. With the right team, Neville made sure that the shop had a tidy exterior, with clean facilities as a bonus to the shop as it gave customers a good impression on top of their excellent service. He had a team of cleaners, litter pickers and gardeners to ensure first impressions were strong to new and returning customers which he believes was vital to the business's success.

BEST MOMENTS

"We sold it (the business) to a school teacher. And on the day we were going to sign, a rep came in and we said we wouldn't be seeing him anymore, we're going to sell. He said 'why?' and I said 'well there's no passing trade'. He got hold of me by the scruff of the neck, I was about 9 stone, he was about 30 stone, MASSIVE guy, and he dragged me out the shop and pointed me down the road and said 'look! This si the main street in Peterborough!' He swung me round and said 'look Neville, all the poeple coming down this street and they can't see you! It's a terraced house with a flat front and they can't see you because there are shop fronts, houses and offices. And I realsied in that moment that he was passionate about my business."

"When you're going up a ladder, you can't jump a rung"

VALUABLE RESOURCES

Neville Wright Official Website
The Answer is Yes – Now What is the Question? By Neville Wright

ABOUT THE HOST

Jay Dhillon is a serial entrepreneur, investor and philanthropist based in the UK with a proven track record of growing businesses from start-up to success- and helping others do the same. From humble beginnings, Jay grew his first business from 0-500 employees and three locations, racking up sales of over £30 million – all without any investment other than a small amount of savings. The business went on to acquire major clients such as Landrover, Jaguar, Toyota and New Look, to name a few.

Its huge success inevitably brought about outside interest and at the age of 33, Jay eventually sold the company to a London investment firm in Doyen Resources. Today, Jay owns several businesses in different sectors and helps entrepreneurs achieve success.

A calling to give back and help others led to Jay being chosen for the highly-coveted role as a Prince’s Trust mentor, where his achievements were marked by a personal invitation to Buckingham Palace to meet Prince Charles.

After helping several young entrepreneurs to success as a mentor for the Trust, Jay’s burning desire to bring his wisdom and knowledge to a wider audience ultimately triggered the concept of The Business Mentor Podcast.

Jay feels that anyone can achieve success in business with the right advice and mentoring and is now sharing his knowledge with his growing audience via his podcast.

In the UK alone 95% of business fail within the first five years and Jay’s aim is to reduce that number.

Backed with the hard-earned knowledge and experience from his time in business, The Business Mentor Podcast will share Jay’s personal business lessons as well those of other successful entrepreneur guests who share their wisdom and secrets on the show.

ABOUT THE GUEST

Neville Wright is an Investor, Property Developer, and Motivational Speaker. He is the founder of Kiddicare, a baby nursery retailer which he sold for £70 million to Morrisons supermarket in 2011 in the depths of the recession. He is also the author of “The Answer is Yes – Now What is the Question”.

Before being a multi-millionaire, Neville had his rough times. He grew up having dyslexia and left school at 15 because of it. He had a string of jobs when he was 24. Then, because of lay-off during recession, he and his wife Marilyn started a business from zero so they could provide their family. These happenings were enough motivation for him to work hard and achieve his goal.

CONTACT METHOD

Neville Wright