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John Holstead is on a mission to make £100,000 starting from zero savings and no job. His strategy involves earning enough to cover living expenses while reinvesting any surplus into starting a business. Initially, he began with food delivery and flipping clothes, later transitioning to pressure washing driveways. However, the early days were challenging, leading to debt and increased stress.
Realizing the need for greater risk to make the business successful, John and his family moved in with his in-laws, maxed out interest-free credit cards, and committed to working 100-hour weeks. This intense dedication led them to invest in paid advertising and purchase a new pressure washer, marking a significant step in their entrepreneurial journey.
The journey has been physically, financially, and emotionally draining. John faced numerous challenges with his existing pressure washer, which frequently broke down. After a series of frustrating repairs, he decided to hire a more reliable pressure washer while waiting for new equipment to arrive. The costs of hiring were exorbitant, prompting him to seek a permanent solution.
After extensive research, John planned a trip to Rutland Pumps to purchase a new pressure washer for around £2,200. This investment was crucial as it would allow him to tackle larger jobs and provide a backup in case of equipment failure. The new machine came with all necessary accessories, promising to enhance efficiency and productivity.
Upon acquiring the new pressure washer, John quickly got to work on a block paving driveway job worth £299. The new equipment significantly reduced the time required to complete the job, showcasing its effectiveness compared to the previous unreliable machine. This marked a turning point in their operations, allowing them to take on more work.
With the new pressure washer, John was able to complete jobs in a fraction of the time it took with the old equipment. This efficiency opened up the possibility of taking on multiple jobs in a day, increasing their revenue potential significantly. The team was able to complete three jobs in a short span, leading to a substantial increase in their bank balance.
Despite the progress, John acknowledged that the bank balance would fluctuate as they continued to invest in essential equipment. The goal was to establish a robust pressure washing business capable of handling larger projects efficiently. With plans for a gigantic pressure washing rig and ongoing improvements, the future looks promising.
As of now, John's financial journey has seen ups and downs, with a net loss of £3,343.90 taking the bank balance down to -£8,620.36. However, the investments made in new equipment and the lessons learned along the way are paving the path toward achieving the ambitious goal of £100,000. The journey continues, with a focus on growth and resilience.
Q: What is John Holstead's mission?
A: John Holstead is on a mission to make £100,000 starting from zero savings and no job.
Q: What strategies did John initially use to earn money?
A: John initially began with food delivery and flipping clothes, later transitioning to pressure washing driveways.
Q: What significant risks did John take to grow his business?
A: John and his family moved in with his in-laws, maxed out interest-free credit cards, and committed to working 100-hour weeks.
Q: What challenges did John face with his pressure washer?
A: John faced numerous challenges with his existing pressure washer, which frequently broke down, leading him to hire a more reliable one.
Q: How much did John invest in new equipment?
A: John planned a trip to purchase a new pressure washer for around £2,200.
Q: What impact did the new pressure washer have on John's work?
A: The new pressure washer significantly reduced the time required to complete jobs, allowing John to take on more work and increase revenue.
Q: What are John's future plans for his business?
A: John plans to establish a robust pressure washing business capable of handling larger projects efficiently, with ongoing investments in essential equipment.
Q: What is the current status of John's financial journey?
A: John has a net loss of £3,343.90, bringing his bank balance down to -£8,620.36, but he remains focused on growth and resilience.