On this episode of Money Grows on Trees: The Podcast, host Lloyd Ross welcomes guest Simon Beard, a successful entrepreneur with a fascinating journey to share. Simon begins by recounting how a business assignment in grade ten ignited his passion for entrepreneurship. Inspired by his neighbor, Big Kev, Simon set a goal in year ten to become an entrepreneur and never work a regular job.

After finishing school, Simon ventured into selling electronic items from China at markets. However, he initially faced zero sales due to a lack of active selling and customer connection. Realizing the need to learn sales techniques and connect with customers, Simon followed a pattern of buying products, putting himself in a corner, and then learning how to effectively sell them.

Simon's journey took an exciting turn when he invested in a public company and listed it on the share market. He also acquired brands like Princess Polly, experiencing both initial setbacks in the share price and eventual rises. His constant checking of the share price and calculations of his potential worth, which he believed could exceed 500 million, highlights the rollercoaster ride of his entrepreneurial journey.

During the COVID pandemic, Simon built an online business and discovered the importance of physical interaction in building a culture. He mentions an upcoming event and encourages listeners to attend. When asked for his number one piece of advice for aspiring entrepreneurs, Simon emphasizes the significance of building an audience as a valuable asset. He discusses the importance of personal branding, sharing valuable content on platforms like Instagram to establish goodwill and equity.

Simon also emphasizes that having a large audience is a powerful asset, regardless of actively monetizing it. He expresses a desire to support others who have implemented his teachings and built successful businesses. Mentorship and personal development are crucial to Simon, who emphasizes the significance of having the right people around and taking action on knowledge gained from books and courses.

Simon shares his experience of working with Jordan Belfort, highlighting the importance of mentorship and the need to take action, not just read books. He mentions using the tool Chat GBT to test his understanding of concepts from books through multiple-choice questions. An impactful encounter with Peter Hedge helped Simon overcome his ego barrier and make sound business decisions, leading to a significant deal valued at 600 million.

Simon reflects on the challenges of adapting to the public company environment and his desire to step back from day-to-day operations to become an investor. He believes that AI, specifically Chat GPT, will revolutionize everything and wants to adopt a hands-on approach to learning about it. Simon also shares an anecdote about a missed opportunity involving a waterproof camera case, ultimately leading to the introduction of GoPro founder Nick Woodman.

Throughout the episode, Simon's enthusiasm for entrepreneurship, mentorship, and continuous learning shines through. Listeners are encouraged to take action, build their personal brands, and leverage their audience as valuable assets. The episode concludes with Simon's excitement and curiosity about the potential of AI and his dedication to staying hands-on in his entrepreneurial journey.

Money Grows on Trees Team