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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 live while reinvesting any leftover funds 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 more significant risks to make his business work, John moved in with his in-laws, maxed out interest-free credit cards, and committed to working 100-hour weeks. This intense dedication has led to running paid advertising and investing in new equipment, including a pressure washer. John describes this journey as the most physically, financially, and emotionally draining endeavor of his life.
As of day 252 of his journey, John has been actively working on a gaming YouTube channel, aiming to develop his own games. The plan is to leverage the audience built on the gaming channel to test and promote these games. Currently, he is balancing pressure washing jobs with content creation, posting twice a week while managing new leads from paid advertisements.
John has spent £4,321.19 on advertising, resulting in three sales, which translates to a cost of £144 per sale. This gives him a return on ad spend of approximately 2:1, meaning for every pound spent on ads, he earns two pounds in gross profit. However, he aims to improve these metrics by reducing the cost per lead and increasing the conversion rate.
Despite having pressure washing jobs lined up, John faced cancellations and equipment failures. He invested in new gear, including ear defenders and spare nozzles, to ensure efficiency. However, he encountered issues with his pressure washer, leading to delays and additional stress. The importance of reliable equipment became evident as he navigated these challenges.
After experiencing multiple breakdowns with his pressure washer, John decided to invest in a more powerful and reliable model. He learned that a higher liters-per-minute rating would significantly enhance cleaning efficiency. This decision was driven by the need to keep up with demand and improve job turnaround times.
Throughout his journey, John has received support from customers, including thoughtful gestures like providing refreshments during jobs. This positive interaction highlights the importance of building good relationships in business, even amidst the challenges of equipment failures and demanding work schedules.
Looking ahead, John is committed to expanding his pressure washing business while developing his gaming channel. He plans to invest in a van to accommodate new equipment and improve operational efficiency. Despite a negative bank balance, he believes that these investments will pay off, allowing him to pay off debts and fund personal milestones like his upcoming wedding.
John's journey illustrates the challenges and rewards of entrepreneurship. His commitment to overcoming obstacles, learning from failures, and continuously adapting his strategy is a testament to the resilience required to succeed in business. As he progresses towards his financial goals, his story serves as an inspiration for others looking to embark on similar paths.
Q: What is John'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: He began with food delivery and flipping clothes, later transitioning to pressure washing driveways.
Q: What risks did John take to make his business work?
A: He moved in with his in-laws, maxed out interest-free credit cards, and committed to working 100-hour weeks.
Q: What is John's current focus in his business?
A: As of day 252, he is working on a gaming YouTube channel and balancing pressure washing jobs with content creation.
Q: How much has John spent on advertising and what has been the result?
A: John has spent £4,321.19 on advertising, resulting in three sales, with a cost of £144 per sale.
Q: What challenges has John faced in his pressure washing business?
A: He faced cancellations, equipment failures, and delays due to issues with his pressure washer.
Q: What upgrades did John make to his equipment?
A: He invested in a more powerful and reliable pressure washer to enhance cleaning efficiency.
Q: How has community support impacted John's journey?
A: John has received support from customers, including thoughtful gestures like providing refreshments during jobs.
Q: What are John's future plans for his business?
A: He plans to expand his pressure washing business, develop his gaming channel, and invest in a van for operational efficiency.
Q: What does John's journey illustrate about entrepreneurship?
A: It illustrates the challenges and rewards of entrepreneurship, highlighting the resilience required to succeed in business.