
17: Building a Lean Business With (Almost) No Capital with Alan Donegan
BiggerPockets Money Podcast
00:00
How I Made My Second Million in Business
I was actually doing the labor and making them and then taking trays into school and selling them, I think for five or 10 pence. My dad used to pay me like six bucks for an entire morning's work. He got slave labor out of me. And he did really well in the 80s and he built up. 20 sportswear stores, actual shops, plus three warehouses across England. Unfortunately, not he took on a lot of high fixed costs that he couldn't alter. So when the crash of the 90s happened, these people stopped buying sportswear overnight. They were left with all fixed costs and hundreds of staff who quickly went bankrupt.
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