Simon Dolan - The Twitter Investor Interview

Posted: 8th of November 2010

Simon Dolan is a businessman who regularly features in the rich lists and runs several companies including SJD Accountancy - the business he started with £10, out of "desperation" to make money, apparently! Simon has a book coming out shortly called How To Make Millions Without A Degree, so we thought we'd drop him a tweet or two and ask him how our readers can go about making their own millions...

@notgoingtouni - hi how's things?

Good thanks! So @simondolan do you want to tell us how you got involved in business yourself?

@notgoingtouni desperation!

@simondolan haha - that's not a good starting point surely?

@notgoingtouni :-) Its as good a point as any. Seriously - was desperation for money that made me start

@simondolan Your book is very positive about starting your own business - why do you think that it's a good option for young people?

@notgoingtouni I Its a great option because you can take charge of your own destiny, +it builds very quickly some extremely important skills

@simondolan You've said you're open to getting business pitches via Twitter - do you think you can sum up a biz idea in 140 characters?

@notgoingtouni Sum up, yes. More importantly you have to get my interest in some way, and as several have proved, you can do that in 140

@simondolan So have you actually found businesses you would invest in via Twitter? Can you tell us anything about them?

@notgoingtouni You can check them out - @maguncovered @globalmoguls to name a couple

@simondolan So what are the biggest misconceptions people have when they think about starting a business?

@notgoingtouni That it is hard and that it takes lots of money!

@simondolan hahaha! So making millions is actually easy?

@notgoingtouni Easy, yes. Quick, no!

@simondolan in your book you say you were just lucky you were offering a service people wanted. Do you not need an original business idea?

@notgoingtouni NO! Biggest fallacy is that you need an original idea - take an existing one, copy it and then do it much better

@simondolan So aside from Twitter Angels/Dragons like yourself what sort of help is out there for young wannabe entrepreneurs?

@notgoingtouni The internet is a good start - you can become an expert on everything in a very short space of time+email people you admire..
@notgoingtouni some people you email will get back to you with help and advice - use Twitter - many will reply to you

@simondolan that takes quite a lot of confidence tho. Do you think most business people would welcome an approach by young entrepreneurs?

@notgoingtouni Most entrepreneurial types would I think yes.Try it-if you want to be in business you'll have to learn to live with rejection

@simondolan We see a lot about investors on things like Dragons' Den - is that always how a biz starts?Or do you not always need investors?

@notgoingtouni Investors should be brought in for more than just cash - I've found that the biz experience is way more valuable.

@simondolan but presumably young people shouldn't always think that they have to get tens of thousands before they can start out?

@notgoingtouni Definitely not. I started my first biz on £10 - it nows TO's £12m. Very few businesses take sig cash to start

@simondolan Last one before we let you get back to swimming in cash - can our readers pitch you their biz ideas via Twitter? If so, how?

@notgoingtouni :-) Absolutely - just tweet to me!

Cool, well huge thanks to @simondolan and you heard the man - if you want to get investment for a biz idea - just get tweeting!

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