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38: The Power of Focus - Nicholas 'Charles Tyrwhitt' Wheeler, OBE
The Founder of Charles Tyrwhitt shirts, Nicholas Wheeler OBE, discusses his various successes and failures from childhood to the present day. We find out how to have good ideas and bad ideas and the key to making them successful.
Charles Tyrwhitt is now a ~$0.3 billion company which he started from nothing. The story of zero to 1 million is always interesting. But the further stories of going from 1 to 10 and 10 to 100 provide incredible depth and insights into how to focus and be persistent.
InsightsPeople would often do stuff because they were told to do it. Work because you want to do it. Love what you do.Top leaders can provide the framework and tools for a team, but the game is won on the playing field. When a strategy looks brilliant, it’s because of the quality of execution.In starting a business, you have to give the quality your target market would normally want.Fail fast so that you could pivot.You decide what you’re good at and do that. Decide what your core strength is.If you want to do something well, focus on one thing and do it well.Entrepreneurs tend to sell out easily in hopes to make it faster. Enjoy and learn from the Grind.It’s always not about the money. The unhappiest people are those who make a lot of money because you need to be striving for something to which if you suddenly get there, it destroys a lot of people.NICHOLAS AND CHARLES TYRWHITTConnect on LinkedIn (https://www.linkedin.com/in/nick-wheeler-934496/)Charles Tyrwhitt company website (http://www.ctshirts.co.uk/)ABOUT THE HOSTMy name is Sam Harris. I am a British entrepreneur, investor and explorer. From hitchhiking across Kazakstan to programming AI doctors I am always pushing myself in the spirit of curiosity and Growth. My background is in Biology and Psychology with a passion for improving the world and human behaviour. I have built and sold companies from an early age and love coming up with unique ways to make life more enjoyable and meaningful.Sam:Instagram (https://www.instagram.com/samjamsnaps/)Quora (https://www.quora.com/profile/Sam-Harris-58)Twitter (https://twitter.com/samharristweets)LinkedIn (https://www.linkedin.com/in/sharris48/)Sam's blog - SamWebsterHarris.com (https://samwebsterharris.com/)Support the Show - Patreon (https://www.patreon.com/growthmindset)EPISODE SUMMARYAt a young age, Nicholas always had ambitions to run his own business. He started a photography business to commemorate the precious memories and reminders of people dear to someone. He was inclined to the business idea of import-export because he had a feeling that this could be a good way to grow a business.Do stuff because you really want to do it, and not because you’re told to do it.Always wanting to be in control of his destiny and start his own business, Nicholas cites execution as a “big thing.” Start with execution and subsequently define your strategy. You don’t want to be the leader who overpromises only to under-deliver. Prioritizing execution requires you to think of your business strategy a living, evolving entity, meaning you’ll routinely revisit, reanalyze and make updates based on how things are going in real-time.The idea is not the big thing. It’s always about execution. You look around a room and there are a 101 business ideas in any room. You just got to do it better than anybody else. Better quality, better value, better sale.Through traveling, Nicholas was able to start a shoe business. As he garnered clients, Nicholas had to manufacture his products internationally because of the quality he deemed fit for his business. After experiencing business lessons, Nicholas turned to “Charles Tyrwhitt,” a menswear clothing line built to last. He mentioned that when starting a business, the first couple of years should all be about learning your customers, your product and your business. He has given recognition on the times when his business would try to go do more things for growth,Published on 7 years, 1 month ago