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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 by delivering food and flipping clothes, then moved on to pressure washing driveways. However, the early days were challenging, leading to debt and increased stress.
Realizing that more risk was necessary to make the business work, John and his family made significant sacrifices. They moved in with in-laws, maxed out interest-free credit cards, and committed to working 100-hour weeks. This intense dedication has led them to invest in paid advertising and purchase new pressure washing equipment, marking a pivotal moment in their entrepreneurial journey.
Currently, John's plan is to split his time equally between growing a gaming channel and game development studio, and pressure washing driveways to generate immediate cash flow. This dual approach aims to alleviate their financial struggles while building a sustainable business model.
To enhance their pressure washing business, John identified the need to upgrade their equipment and purchase a van. They found a Ford Transit Connect priced at £1,625, which they hoped to negotiate down. The van, despite its age and mileage, was deemed reliable, and they aimed to secure a warranty to mitigate potential risks.
After acquiring the van, John encountered several issues, including a concerning engine warning light and a fuel leak. These problems necessitated immediate repairs, adding to the stress of their financial situation. Despite these setbacks, John reached out to a reputable pressure washing equipment supplier to get a custom build quote for the van.
As they prepared for a family holiday, which had been planned long before the business venture began, John faced the challenge of balancing personal commitments with business progress. He scheduled gaming videos to be released during their absence and focused on editing content, as they could not yet afford a video editor for their gaming channel.
Despite the challenges, John celebrated a small victory with the first paying member on their Patreon account, contributing $350 a month. This milestone signifies progress in their content creation journey, even as they navigate the complexities of starting a business and managing personal life.
In the latest developments, John reported a net loss of £2,500.60, bringing their bank balance down to £4,859.45. This financial overview highlights the ongoing struggles and the need for strategic planning as they work towards their goal of financial stability and growth.
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: He began by delivering food and flipping clothes, then moved on to pressure washing driveways.
Q: What sacrifices did John and his family make for his business?
A: They moved in with in-laws, maxed out interest-free credit cards, and committed to working 100-hour weeks.
Q: What are John's current business ventures?
A: He is splitting his time between growing a gaming channel and game development studio, and pressure washing driveways.
Q: What equipment did John identify as necessary for his pressure washing business?
A: He identified the need to upgrade their equipment and purchase a van.
Q: What issues did John encounter with the van he purchased?
A: He faced several issues including an engine warning light and a fuel leak, which required immediate repairs.
Q: How did John manage his family commitments while running his business?
A: He scheduled gaming videos to be released during their family holiday and focused on editing content.
Q: What milestone did John achieve in his content creation journey?
A: He celebrated a small victory with the first paying member on their Patreon account, contributing $350 a month.
Q: What is the current financial status of John's business?
A: John reported a net loss of £2,500.60, bringing their bank balance down to £4,859.45.