The grand old man of share trading has shared his five top tips for anyone wanting to be an entrepreneur.
Multi-millionaire Gavin Oldham, OBE, trained as an engineer, but began working on the London Stock Exchange in 1976.
In 1991, he launched his own company – the Share Centre – in a small office above a doctor’s surgery in Tring, Hertfordshire.
From these humble beginnings, Oldham built up a share-buying client list of 93,000 before selling the company for more than £1 billion.
“Self-directing your investments is hugely fulfilling, but too many people can do things on a hunch, like taking a tip at a pub, and that is a danger. You do need to stay in touch,” he says.
Oldham’s five tips on how to make it as an entrepreneur
- Do you want to be a short-term, serial entrepreneur; or to achieve a distinct
ambition or purpose over the long term?
- The big risk is just being an entrepreneur: downstream of that, weigh your calls
carefully.
- Consuming early stage capital can seriously compromise your ability to control —
and own — the business. Try to find a source of ‘surrogate capital’ earnings, even if
it involves a limited diversion from your long-term aims.
- Remember that your commitment is total: it’s not the same for fellow directors or
senior managers, who can give notice at any time. Listen carefully to what they say
— but remember that the buck stops with you.
- Borrowing might appear to help when the sun is shining, but you’ll find yourself
very exposed very quickly when the storms arrive — and they will, usually when you
least expect them.
