Jay Radia has built three businesses worth over half a billion pounds and currently runs an accelerator focusing on increasing happiness in the workplace. 

But before all that, he founded a company called Mobi RF, which failed. The idea behind the company was to allow anyone with a smartphone to start selling their photos to businesses, like iStock or Getty Images for your smartphone. 

Jay had this spark of inspiration back in 2012 when Instagram was taking off and everyone was taking more and more photos on their phone. His confidence skyrocketed when he spoke to the Founder of iStock who told him the idea was incredible and that he wished he’d thought of it. He quit his six-figure job in finance and bootstrapped the company with his brother.

What went wrong? Listen to find out. 

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If you want to hear more from Jay, he's got his own podcast 'Happy Millionaire'.