From the brink of bankruptcy to managing a million-pound business, a Portsmouth letting agent has revealed the trials and tribulations he faced on his journey to success.
Tom Soane, of Pink Street, started his business 10 years ago due to his passion for property. Being the brains and backbone of the business, Tom worked long lonely days, searching for potential new clients, but was failing to make any profit. And, as a result, the rest of his life suffered.
As many start-up businesses do, he faced major financial worries and instability, until one day he got the call every person dreads: ‘The bailiffs are here. And they’re taking everything’.
“It was a vicious cycle – I had no time, no money, and only a small number of staff. But, I couldn’t hire staff as I had no money, I had no time because I was predominantly working alone, but I couldn’t offer the service I wanted to without support. I didn’t know where to turn.
“The bailiffs arriving was hugely stressful and distressing. I’d also not long before become a father and made a vow to myself that something had to change.
“One quote that massively resonated with me at the time was: if you want to achieve something you never have before, then you must do something you never have before.
“So, I tore my business to shreds. I rebuilt it, revised processes, and started to improve my knowledge about property and business. I was reading, learning, researching, and developing myself. But I still had no time available to implement these things I was discovering”.
Tom then sought expert support to help him focus and break down his plans into manageable and actionable tasks.
“Following this training and business coaching support - and a lot of graft, discipline and focus - I became more confident. We started to make money. We brought on more staff. I started to see the bigger picture once again, and I had many potential opportunities that I had never before considered, and financially were not possible”.
After implementing his new-found processes, and being able to hire more staff, Pink Street has continued to thrive. Tom has since purchased multiple other businesses and, most importantly, is now able to take valuable time off to spend with his family, take a wage from the company, and enjoy holidays and days out.
“Everything now is focused around three things: money, machine and mindset.
“Money – I now run a growing and profitable business that has financial security and reliability. I’m able to take my family on holiday, have treated myself to a new car, and now have my own property portfolio.
“Machine – the adapted automated systems and robust components mean I am no longer a fundamental part of the business’s success. It can function, and thrive, without my involvement every day. In fact, on a recent holiday, we decided to stay another week, and I don’t even think they noticed!
“Mindset – I now understand what I’m doing, and why I’m doing it. I can see the bigger picture. I think like a CEO, and have the business ability to adapt to any relevant setting.
“I almost feel fearless. I had nothing to lose and put my complete trust into Agent Rainmaker, and it’s absolutely paid off.
“I still read through my notes every few months – I’m not done learning just yet!”
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