Financial Goals £, Media Buying, How to Start, Am I Happy? Q+A - Documenting the journey- Episode 24

A ~36-minute YouTube Q&A (Episode 24) by Matthew Kelly documenting his entrepreneurial journey and answering audience questions on e-commerce, funding, media buying, product/creative testing, operations (3PL vs in-house), Amazon performance, metrics (LTV, email revenue, marketing spend), and personal topics (training, diet, happiness, motivations). He shares candid, experience-based advice: recommends dropshipping or service businesses to generate early cashflow, reports ~£50k revenue on Amazon with ~£1k PPC spend and 30+ reviews (~4★), discusses product-first branding (Space Goods/Rainbow Dust), and expresses long-term ambition for building a major brand in the psychedelics/consumables space.
Questions this video answers
Episode 24
November 10, 2022
About £50,000 revenue and ~£1,000 spent on PPC
30+ reviews with about a 4-star average
Around £250–£300 LTV
Chapters
Right. Then back with another episode of documenting the journey. Mixing up a little bit for once this time. Am I recording? Yeah. Episode 24, I believe. Which is pretty mad because it's nearly six months kind of since I started doing these Q and A. I put out a Q and A poll on my Instagram and Twitter. Mainly got questions on Instagram. I'm just gonna go through basically all of them. Well, not all of them. I picked out like 20 to 30 questions. I might skip some of them. Pretty much all about Ecom obviously, which kind of relates to business. And I'll try and time my experiences lately with stuff to mix this up. And then I'm gonna do a few other videos on a few more specific things like the design process and maybe a little bit more of the back end and like product shit which people seem to want to see and it might be interesting. So. And I'll try and put these up on screen. Maybe it's like an edit thing. If I can be bothered doing that. Yeah, I'm just gonna say people's names or maybe I'm not. I'm not gonna say those names. You'll know if you ask the question, I guess. First question, and I'll try and go through relatively quick on each one, not like give 20 minute answers on every single question. Be here for about five years. First question is how would you recommend getting funded in the early stages of a brand? And they put in brackets 10k a month. I think probably the reality is for most people you either have to fucking get a job, use your savings and lose your savings like I did when I started my first ever brand in like 2015. Or you start drop shipping, which is why I think a lot of producer drop shipping, which is the best way to build cash flow. Or you start a service business like an agency or something. Which is why at least in my experience, 95% of people on money Twitter are either dropshippers or agency owners. And as well in my experience for a long time. Because that's a lot easier to generate cash flow that way, especially in the start when you're inexperienced. And that's what I'd recommend. Get into drop shipping. TikTok. Drop shipping is massive now or start like an agency or service based business of some sort or just get a fucking job and do it in the evenings. But even then, you know you're realistically gonna need to get a job to start drop shipping because starting a brand is fucking expensive, particularly these days. That's a whole other topic. But that's What I'd recommend generally. Next question. When is Fred jumping on the podcast? Is the most highly requested episode probably of all time. He's been telling me for many months he's gonna come on this year. So there's what, like a month and a half left of this year? Pretty much. So hopefully soon is the answer to that. If he's listening. When the are gonna do it. Next question. Results on Amazon so far with space yards. Yeah. So launched Amazon like three months ago. I think I've done like 50 grand in revenue on Amazon and spent like a grand on ppc. So not really spent any money on PPC ads yet. I just had an agency to start doing that. Like I've never sold on Amazon ever before. So I was pretty happy with it. I was like, oh, we're getting organic sales. That doesn't happen on your own website really? And like the reviews are pretty good. We've got 30 plus reviews, like four star average, which I think for Amazon is decent. Um, so yeah, it's been decent. I think there's a lot more we can optimize like the listing, the ads and so on. I don't know if I ever see it being as big as the website D2C but certainly want to want to push it. So yeah, that's full transparency. Next question. When doing this is fucking different, but I'll answer it quickly. When doing so much running, how do you manage to avoid injuries? Well, I guess the short answer is I didn't avoid injuries to begin with. When I started running, my knees were fucked, then my hips were fucked and my ankles were fucked and then I got shin splints rages. I guess the answer is over time you build resilience because you're doing volume and your body adjusts. That's probably the best answer. But in the short term do a lot of stretching, like warm up stuff, maybe go to a physio if it's fucking you up. Like it was for me. And I found going from doing like a lot of sprinting stuff to a lot of slower, more steady state stuff, which I did for like the three months leading up to marathon, was really good for injuries and actually got me really fucking fit as well. So that's more, more sustainable. I haven't read these questions before. I'm reading them out now by the way. This is like live. Next question. Are you looking for a sooner exit or holding out for potential long term, huge exit? I mean these sort of questions are kind of hypothetical because I'm obviously just fucking focused on Building the business. But I do see what he's saying and I certainly do have goals for the business. I think the advice I've had to be completely transparent of investors and like mentors of mine who have achieved those big exits which, which by the way is statistically way rarer than anyone might actually care to admit. And all the don's flexing Cartier watches on Money, Twitter or whatever have probably not had a big exit. They're probably just a drop shipper. So just bear that in mind first. But yeah, there's like two parts to it. A bit of me is like, oh, I have this goal in the next three years, be nice to achieve. And there's that. But then there's the bit in the back of my mind which is like, oh, could this be like a billion pound brand? And I do genuinely believe it could. I think you have to have that element of delusion just to even be a fucking founder. But I didn't think that with either the previous businesses I had like Midnight City Jewelry and Neon Beach. Whereas I do genuinely hand on heart think like with the market and the longer term psychedelic stuff, this could be a billion pound brand. So whether I stick around for that or not, I guess it's kind of what this guy's asking. Yeah, I think I'd probably like to hit like a personal financial goal first and that's the priority financially at least. Then worry about the fucking bigger picture stuff and the bigger exit or the bigger long term mission next. That's probably my approach with it. One thing I struggle with most is what is the best way to get creatives for products to test. I think you saw my drop shipping. I mean it's kind of different. I've been out the drop shipping game for like three, four years now. But I would say instinctively to that, look at TikTok videos. Like just buy samples from AliExpress and make content either yourself or hire a creator and if you've got no money, do it yourself. Budget recommended for drop shipping as a 17 year old again, I'm not a drop shipper anymore but I would say you can start a drop shipping store. We're legit with like 200 quid and like maybe even a hundred. I think it's pretty fair to say like a few hundred quid which anyone can get if you have a job or whatever in your teenage years. I literally started drop shipping when I had literally like minus 500 pounds in my student overdraft. That's not exaggeration. I didn't get Any money. I was working at a burger bar, had a drop shipping website and would literally run the ads on my break. I don't even really remember how the fuck that even financially added up back in the day, but I seemed to make it work. It was different back in 2016 though. There was definitely cheaper on ads, although the organic TikTok craze wasn't a thing. So that's probably why I'd pivot towards. Next question. Starting a business in your late 30s. I don't know why he's asking there. I think you can fucking start a business at any age. I think often if you're older, you probably have more life experience that might be beneficial. I don't subscribe to this whole narrative. Again, it's quite big on like money, Twitter and kind of like the guru YouTube space that if you're not 25 worth 25 million, you fucking failure. It's just absolutely bollocks. And it's statistically wildly inaccurate as well, I think. Bear in mind a lot of people with that general narrative are trying to sell you something and they want to rush you into buying something. So that kind of scare mongering tactic is a bit weird. But I think generally if you start earlier, you're going to have a chance of being successful earlier because it takes probably 10 years to be successful. Which is why when you see people that are in their 20s maybe being super successful, they probably started when they were 15 and I started a bit later in my mind, I thought I started quite late. I didn't start properly in on the entrepreneurship till I was about 19, 20 even. Not like properly till I was about 21. So I've only been doing it like six years now and I still feel like I'm a fucking beginner, but I guess I'm not entirely. So I think the best time to start anything is yesterday. The second best time is now. So that's my general view on it. This is a deep one from Richard. If you could send a message to every single person in the world, what would it say? I probably say if I can use Code pool party for 15% off space goods this month. That's been my instinctive answer with my e comm hat on. Or I'd say some deep shit like nothing exists until you create it and like play some synth music. Because that tends to be my general message with the brand. So that's probably what I'd say. What to look out for? Next question. What to look out for in a 3PO. I mean, fucking hell. I've already been already on my second one with spacegoods, and I'm having doubts about whether they're the right one, I think. I mean, there's so many these days, it's hard to compare. Like, even myself, I get DMs every day or emails of 3 PL owners trying to make me to switch over. I think the service is the first thing. But just make sure you know what you're paying because there's a lot of hidden costs, et cetera, et cetera. And yeah, like, even now with the three PL I'm using, it seems to be way more expensive than what I initially thought. And I'm like, we're like auditing the fucking invoices every week. And it just. Yeah, it doesn't seem to add up sometimes. So, yeah, that's a bit of a difficult question, I think. Yeah. Maybe pricing that you're not getting overcharged, I think things you don't know about and just general service, but you kind of have to. You have to start using until you realize that. So, yeah. Next question. Some of these kind of deep. Do you believe someone's passion can make them wealthy? And how would you define wealth? Well, I mean, Christ, I think the literal definition of wealth is having enough money that you don't have to work again, isn't it? That you can be financially independent. But I guess wealth from a more broader, holistic view is health, wealth, love and happiness. In my mind, it's how much money you make. But do you enjoy what you do? Do you have time freedom? Do you have location freedom? You know, I think historically people would look at a job and say, how much money do you make? But now with the opportunity, the Internet particularly, e common stuff, I think what you do and therefore how much you enjoy it and like, do you feel like, driven in it is as important, if not more important. And I'm also having, like, location and time freedom. I Can you do it remotely? Do you have to commute to an office every day? I think that's just as important. I used to always say I'd rather make 100 grand a year from a laptop in Bali than make a million quid a year in a cubicle in the city of London. And I still wholeheartedly believe that. And the irony is, I think if you stick with entrepreneurship long enough, you can make 10 times more money than you'd make in any corporate job anyway, or 100 times more or a thousand times more. So that was kind of one part of the question. Do you believe someone's passion can make them wealthy. I think if you're, if you're good at what you do and you learn how to monetize it, then yes, I always said like you don't want to be the starving artist. And what I mean by that is like be a creative person. Because I've always come at it from a creative angle first in a way, but then I was also very aware that wanted to have to monetize my creativity and not just, I don't know, I didn't want to be the guy that's fucking painting pictures and trying to sell them on the street. I wanted to learn E commerce so I could monetize my innate ability with like design and branding and the creative shit. So yeah, I think, I think you can be, have to be self aware and realize what you're good enough at because for example I used to love playing guitar and doing like music covers on YouTube and shit. But I was very self aware that while I was like okay, like 6 out of 10 it's thing and I mean I was never good enough to make a career out of that and that's fine, but I was very self aware so I wasn't deluding myself because I might have said that was a passion at one point. So there's a fine line. Next question. Do you ever doubt your brand space goods and why? Well, I think everyone has like bits of doubt in their mind when they're doing anything. But I do, hand on heart, believe it is my best piece of branding and like it's my best entrepreneurial creation to date. And I would, I would say I've, I've done a lot of shit over the years but I've probably, this is like my third seven figure plus brand and probably my fourth or fifth like six figure plus brand if you include like the clothing brands that I ran for a while when I was at 20 years old. But yeah, I do doubt. You know, I think I've always said I'm like, what's the term, A cynical optimist or some shit. But in the sense that I can, I'm very self deprecating and I'll almost take the piss out of myself when shit goes wrong. And I'll be the first to say that I feel like a fucking loser half the time and I know what I'm doing but I also fundamentally back myself in like on a, on a large enough timescale always to figure it out and do shit. But I think you have to prove to yourself that you can do shit by doing shit first. So when you're first getting started, like, everyone's fucking useless. But I guess I backed myself more with this one because I know I've done it twice before to like a serious level. Granted had ups and downs, which everyone knows. But I know I could do it again. And it's nice to know now with like six and a half months of sales data that I wasn't kidding myself, that I could do it again. It wasn't luck, it wasn't a fluke the first two times. It was a skill set. So, no, I don't doubt myself long term. I think everyone has ups and downs, good days, bad days in the entrepreneurial arena. But yeah, I seriously back myself with this one because I've compounded skills and knowledge and experience and been through a lot of shit and learned a lot to get to this point. So obviously still feel like a beginner. But nah, I don't doubt myself long term. Next question. What's your diet? Fucking hell. I feel like people. People start to treat me like a fitness YouTube or some shit. What's my diet? It's pretty. I mean, I've probably. I'm probably treating myself a little bit now. It's like winter season, barrel season, bud. It's like no. K used to say, some shit. What's my diet? I don't eat breakfast. I have a typical day, Monday to Friday and pretty much weekends as well. But Monday to Friday, it's like an average example. Don't eat in the morning. I'll have lunch at like 2pm, which is usually like six eggs and a huel with a bunch of like blended fruit and shit. I don't track calories or macros ever, by the way. I just eat healthy shit and train like a savage most days, or at least I try to. So that's lunch. And then I might have like a protein bar. This is like, if I'm treating myself. I got a load from Amazon recently, like a protein bar or something, or protein yogurt in the afternoon. Maybe like 4pm before the gym or something. Then I'll go gym, come back, have a protein shake, maybe a bagel or some shit. And then dinner in the evening is very standard. It's quite literally. It's either steak from waitrose or like 800 grams of. Not 800 grams, like 400 grams of chicken breast, which is just one packet from Waitrose with almost always have the same rice packet with like the chili sauce or some shit. And then in the Evening at like 10pm I might have like a yogurt again or some shit. But it's very consistent. To be fair, I got in the best shape of my life in the past few months from looking back, a pretty like fleshy position by two things like my weight training stayed the same. Essentially the only variables where I completely cleaned up my diet. I don't eat junk food basically ever anymore right now and then of course, but like genuinely it's not in the house. And then all the cardio, all the running just changed things and now I started doing like CrossFit recently as well to be fair, which is a different sort of training. But yeah, that's my diet standard. Next question. What's your goal LTV for space goods in year one, two and three? Fuck me, I don't know. But a few people have told me if you can get an LTV to like 250, 300 pound plus, then you're going to be a multi, multi millionaire in a few years. Like that's what a few people said to me. So in layman's terms, if you can get something to that, then the business is going to scale to a very fucking big level because most brands can't reach that and I haven't done that yet. But the LTV is actually really hard to track. We're like six months in now, so we've got a decent amount of data, so we know that. But it's like predicting it every 12 month period. It's kind of impossible until you get there. You can obviously make assumptions but you don't actually know. So the answer is I don't know. Next question. What originally got you into Ecom? F me go listen to like all the podcasts I've done in the past. But yeah, I used to design logos from literally I've got folders and folders of them. And then I had a clothing brand called Gentry Club when I was like 18, which is a complete fucking waste of time. Worked in John Lewis in summer when I was 18, earned like three grand, spent all of that in stock, couldn't sell any of it. And all the kids in the year below took the piss out of me, so. Sob story, but it's true. So that's how I got into Ecom. Next question. What do you look for in a good media buyer? And I guess he means agency as well. Media buyer or agency? Same shit, I must say. Like eight different agencies over the years. I think the reason I like the guys I work with now is they own, they run their own brands as well. So they Understand, it's not just about roas. It's about seeing the whole picture in terms of like, stock management, cash flow, ltv, what your goals are. Do you actually want to be profitable or do you want to grow quickly? You know, they have more contextual understanding of my business because they're dealing with the same shit in their business, really. So I think that's the key thing, which is very rare, by the way. Most media buyers in my experience and agencies don't know anything about the other parts of E Comm, which is why it can be infuriating. And I've had experiences with that in the past. So I think that's the key thing. If space could stop tomorrow, there's another question. What brand would you start instead? Fuck. I mean, I think it's the perfect brand for me, to be honest. I think it's great timing and I'm probably inviting a lot of competition by doing these sort of videos and speaking about it. But whatever, that's the risk I take. I don't really know if I have to do something else. It would definitely be in the consumable space, I think. I think I like the idea of small product offering and going deep rather than wide. So something in that realm. If you gave me like 10 minutes, I'd probably come up with a better idea. Next question. What are your fundamentals to making a brand marketable? Kind of a. I don't know what he really means by that, but my interpretation of it would be, I think product is so important. I feel like no one talks about product. The whole like money, Twitter sphere and generally on YouTube and stuff. It's like how I got 20 ROAS on 100 grand ad spend on what product the product in offer. But like, it starts with the fucking product. Like, is the product good? And I think most people only speak about marketing because either A, they're dropshippers, so they're not really developing, developing products, so that's not in their mind. In the same. To the same extent, they're just hopping on trends and what can print the most money in the shortest time, or B, they're running an agency and like I just said before, they only really care about marketing. Like, how can I get a roas, which is, you know, that's only a part of E Comm. And I think the best brands are product first, ultimately, because then they sell themselves. And that's one thing I've done very well with Rainbow Dust. I think it's very unique. It's a genuinely good product. It's a problem solver. And the bit I probably haven't done actually very well with it is. It's a bit unclear what it is. In a lot of ways people think it's illegal. And this is why we did a shoot the other week. We've got a whole other section on the website coming out explaining what it is in, you know, brand style. But yeah, I haven't done that part very well. But the. It works. The reviews are generally great. It's very eye catching. It's different. It stands out like a sore thumb intentionally and it. Yeah, I think product first. Next question. How much do you think training consistently aids your personal business growth? Yeah, honestly, I've always trained consistently. Goes back to being. I used to play football when I was like 10 years old, but then I did like eight years of rowing, which I would cite as being the most important part of my youth developmentally and credit a lot of that to like my work ethic now. And probably why I've been able to be pretty good at running very quickly because yeah, it's just the key fundamentals of progressing in anything. It's well, focus, discipline, consistency and time, kind of those four things. And I feel like you can ultimately achieve anything over if you're given enough time. So yeah, I don't understand. I don't really trust people. I don't know if I'd hire someone that never went to the gym or trained in any capacity. There are obviously exceptions. But yeah, I mean, I would personally like invest in or be more likely to hire someone that had done like a team sport or something. I just trained consistently and like had certain athletic achievements. I just think it reflects in every area of life. So yeah, it's definitely affected things in a positive way. Next question. When you start something new, how do you get over the feeling that it sucks and is a waste of time? Well, I think I'm probably transparent enough about this to say that often I don't get over that even now. But at the very start, like everyone's shit when they start. It's just a fact. Obviously you build confidence through experience over time and obviously that's the stage I'm at now. But where I know I've done stuff in the past and I know my stuff is decent, obviously I want to get better. But I have like context of reference in the sense that I know when I put my mind to something I can do it in this industry, in that industry. Now I just need to stick on one fucking industry for a while. But I think the Answer is, you don't really get over it. It's just one of the many millions of challenges that you face in the entrepreneurial game that most people don't have the fucking balls for, ultimately. Which is why 99% of society aren't entrepreneurs, I guess. Nothing wrong with that, but it's just the reality. If you can't handle the heat, get out of the kitchen, I suppose. But it's fucking difficult, is the answer. Next question. Why did you decide to go with the 3 PL initially compared to in house shipping? It would save money. People have asked me this so many times. I've never done in house shipping, apart from when I literally had a clothing brand when I was 18. I was shipping out like four orders a month or some bullshit. I kind of understand the question, but I think they're looking at it the wrong way. Like, I don't. It's a time and economies of scale thing. I don't want to be responsible for a warehouse. I don't want to be worrying about that. So it's ultimately just the beauty of outsourcing. So, you know, in a sentence, that is why I think as you get bigger, there's, you know, there's maybe an argument to say, well, why don't you fulfill it yourself? But then as you get bigger, you've got way more negotiation power with three pos, which I'm already starting to think about now, how can I get much better pricing? And you want to focus on other stuff, like the systems and technology that big three PLs have would cost you millions if you were to get it yourself. And yeah, I've just never thought about that. I just think there's better things to focus on. And ultimately you could save money, but you won't be saving time and focus, which can go elsewhere. So I suppose that's how I'd answer that. How did you initially fund your first business? Literally was working in a burger bar in uni. That was after that, actually. Before that I worked in John Lewis in the TV and laptop session. And my first experience of DTC advertising was I'd go around on all the laptops in the area that I worked in. I put my fucking clothing website on them and I'd get like 10 impressions per day or some shit. So that's how I started. And I think everyone. I think it's fucking hard for everyone to start. So, yeah, that's how I'd answer that. Creating a solid brand and product launch in furniture. What would be your steps and what I think I don't know, furniture, but thinking completely off top my head, having not prepared this, my approach to any industry would be, especially in today's day and age, would be probably three things. Keep it very simple, whether that's the offering and the message. So, you know, I would instinctively say less SKUs but better quality ones. I would have a polarizing or very unique brand, aesthetic and message because there's so much competition now and 99% of the competition want to play it safe visually. I think that's why I have done well with space goods, at least at this stage, is it looks the opposite of everyone else, which is risky, but it definitely makes you stand out. And I'd say third, have a decent supply chain. Like look@made.com that went from 700 mil to. I think it just got bought out by Next and administration, like 3 million quid. So I probably said those three things primarily. This is a deep question, are you happy? I'll be completely honest and say I don't think I've ever been a naturally very happy person. I think. I mean, there's a whole other fucking story here and there which kind of alluded to. Yeah, I'm very up and down as a character. I would say I also don't. I tend to either enjoy things like deeply or I feel like I'm having a fucking shit time. And I don't know that necessarily answers the question, are you happy? But I don't think being happy is as important as feeling like you're working on something worthwhile. And I don't know, I feel that more as I've got older. And I do genuinely feel like I'm working on something worthwhile, at least with the vision I have for it longer term. And it doesn't even have to be grand or anything. You could feel like you're working on something worthwhile if you're teaching in a fucking primary school in the middle of nowhere and you're impacting someone you know. Like, that's maybe not a good example, but you get the idea. It doesn't have to be about money or massive scale. So I would say I'm probably not a naturally default to happy person, but I definitely feel like I know what my purpose is now and what I'm driving towards. Think that's probably more important than happiness in many ways. But instinctively I would say I definitely don't default to feeling happy, but I'm not sure we're meant to. I mean, I certainly don't. But yeah, it's something I'm working On if I'm completely honest. Next question. Do you think your brand would be at the same level if you hadn't raised funding? Yeah, I do. I don't really need to raise funding. It's kind of the answer to that. There's another question which sort of goes on to this. It was, it was more about getting people involved and formalizing that relationship. So. So their input could be valuable in the long term. But I think the most valuable thing I have up to this point is experience, at least in how I've executed this brand. So that's kind of the answer to that. How did you know that your next venture would be successful, is the next question. Well, I didn't. Is the answer to that. It was pretty scary because I mean obviously how to gut feel and I've got experience etc, but it's the longest time I'd spent on any brand ever and the most money prior to launching actually having customers. So yeah, it's pretty nervy. And now it's pretty cool to look back with six months we got, yeah, a big chunk of customers and it's clearly working. So yeah, that's the risk you take. Do you think being a designer having that background gives an upper hand? It's a weird one because, you know, plenty of people I know are not designers at all and they're more successful than me. So I can't, I can't say that. But I think it definitely helps the very earliest stages in terms of like being able to launch something from a laptop and like probably do it in any industry. I always feel like I could get zero to a million in literally any industry. Ecom. If you just give me fucking. If you give me a laptop in six months. I truly think that whereas maybe other people, I mean, I've seen less examples of people doing it in multiple areas is what I'm saying. So maybe, maybe the design background and the creativity element, like the zero to one particularly, which is one thing I'm best at, helped maybe so. And it makes it maybe cool to like be able to say, oh, I design that and I didn't have to outsource it to a fucking expensive branding agency or whatever. Next question. When starting a new consumer brand, would you offer subscription straight away? Well, yeah, why not? That's the answer to that. I'd offer both, which is exactly what I did. Not a business question. Have you ever gone track racing and your top three cars, one old, one new, one Exotic fact. I haven't had a car for like a year. That's kind of deep. I need to get a new one soon. I have gone track racing. It's sick. Top three cars off the top of my head. One old probably like Ferrari Testarossa or 355 or something. I'm probably getting the fucking names mixed up but like the vintage Ferrari, one new and one exotic. I mean it's gotta be like a Rolls Royce Cullinan or a Urus for like a daily and then exotic I'm gonna say like a 488Pista or something. I think they're fucking most beautiful car on the planet. So something like that. Although I probably enjoyed my R8 more than my 458 Spider when I had that. So that's an interesting debate. What percentage of revenue you pulling through your emails? I feel like this guy's gonna fucking send me a cold email trying to pitch me. I think it's like 30% right now. So yeah, pretty sick. What percentage of your monthly turnover should you put aside for marketing? I mean in my head I've always thought about 50% of revenue on ads but there's a billion fucking variables depending on if you'll grow, if you want to, you know, growth period. Like right now I'm spending more than that. So completely depends. That's impossible to answer because it depends on your margins, depends on your goals, depends on your cash position, a billion things. But knowing understanding your unit economics would be the best way to figure that out for yourself. Thought me there's a lot of questions here. I might start wrapping these up because there's way more left than I thought. Let me pick the best ones. Alright? Yeah. So best way to source pre launch funds is is it feasible to raise funding with no entrepreneurship experience? I would instinctively say no unless you come from a very privileged background and your parents or your family or whatever just going to give you money to start a business which if, if they're self made they probably shouldn't be doing. If you've never built any experience, I think you have to source, I think you have to self fund your first venture or your first few ventures to build up the credibility and the experience and, and like the proof that you know what you're doing to an extent. Cause yeah people are investing in you ultimately I wouldn't have been able to raise any money if I hadn't had experience like that was what made it quite easy ultimately and I'm fortunate to have a good network that could then back me. But ultimately like my CV is the stuff I've done before. And the proof that I can go from zero to something. So I think you struggle. Next question. Why stay in London and not go somewhere hot for winter? Is it because you focus best here? Right. This is like a bigger point because again, everyone on Money Twitter bangs on about Dubai. I feel like this question's alluding to that. London, in my opinion, is the best overall base to have and place to live in the world if you're an entrepreneur, in my opinion, there are. Because I think in summer, by the way, it's the best city in the world. And I've traveled to a lot of cities and all over the world, so I feel like I'm qualified to have a decent opinion on this. I do agree. And I'm probably going Dubai next month, by the way, and Bali after that. So I think London's shit in winter and it's just entering that really shit stage right now on the 10th of November, like, it's dark at like 4pm it's fucking depressing. It definitely affects me and probably most people. I feel like shit compared to summer, just mentally, because the lack of sun. I just thrive off sun. I just naturally feel better in that environment. So, yeah, I guess the answer is I like London as an overall place. But I agree it's probably not best for winter. You do definitely focus better when you're not traveling dotting around. Having a solid base for me, I found, is better than pretending that you can work as hard in, like, Bali for two weeks if you're there. Like, longer term, you definitely can. But it's all about having a. The longer. The more permanent the setup is, the better you can focus, basically, in my experience, and that's my experience having been a nomad for, like, three years prior to moving to London as well. So, yeah, that's the answer for that fucking. That was a lot of questions. What is your main driver, slash, why do you do what you do? Honestly, and this is gonna sound so flippant, like, I do want to make a fuckload of money, and I think that's very important. And I think it's very ignorant to play the whole, like, socialist money's not important bullshit card, because it clearly fucking is. And I've had plenty of arguments with my parents who tell me I chase money and all this, but I honestly don't think that's the biggest driver. The biggest driver for me, going back to the age of, like, 10 years old is freedom. And I suppose that's freedom that comes from money, but it's also freedom to come up with a fucking pink rainbow dust mushroom powder idea. And that is my job, like building that. Like that's the ultimate creative freedom, right? And like, maybe I sometimes don't appreciate that enough or don't realize how unusual that is on average to be able to do that. And granted, it's not all fun, but that's the beauty of entrepreneurship. And beyond that, I think I've always had this idea in the back of my head that I would do something big and world changing or whatever. And I'm sure a lot of us in this game have that feeling. But certainly when it comes to the whole mental health space and mushrooms and psychedelics and my vision for that longer term, I do honestly think that's something I could be involved in for 20 years, 30 years. So now I feel a bit more driven in that respect. And it's taken me obviously like six, seven years of doing this shit and being a bit older and wiser and going through ups and downs and being the arrogant cunt with loads of money when I was younger and all this sort of shit to realize what is actually most important. And while money is very important and it is a driver, it's not the biggest driver overall over like a longer period. So yeah, there's kind of a few things there and I suppose just like wanting to fucking build like a legacy maybe and like my vision for my own family in the future and shit. So yeah, I think that I might wrap it up there on that grand note. There's a bunch more questions, but I just can't be fucked answering them. So, yeah, I guess on that note, I think we're all chasing some, you know, mission. I think that's the most important thing in life, at least in my mind, figuring out what the mission is and getting the after it. Whether that's a mini mission to go and run a marathon and like give your life meaning and your training meaning, or if it's a bigger mission to go make 100 million quid and change the, the lives of a million people through psychedelic mushrooms or whatever, think having a fucking mission is the only way to feel fulfilled and ultimately happy long term and like progressing in that mission. So certainly for me it is like I find that the hardest thing about the ups and downs of entrepreneurship is when I feel like I'm not progressing or if I was actually better like a year or two ago. And this is in every realm as well, like socially, romantically, like physically, you just always want to be getting better. And I think as well in entrepreneurship, if you're not getting better, you're actually getting worse by default. You're not staying the same because the game's always moving and the competition's always moving. But, yeah, figure out what you're going for and just fucking get after it every day. And you can do a lot in a year. And I always think, how much can we do in 10 years? I say we like me and all the fucking viewers getting after it. So, yeah, I'll leave it at that, hopefully. That was interesting. 36 minutes. It's a pretty fucking long one. And as always, space goods to the moon. Let's fucking go.










