My family called me an idiot for dropping out of university, but now I earn £120,000 a year
SOMETIMES it's good to listen to your parents' advice, other times it's better to ignore them completely and do your own thing.
One woman who fully understands that is entrepreneur and business owner Charlotte Leigh.
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Charlotte made the life-changing decision to drop out of college despite her parents' advice, and it turns out to be one of the best decisions she has made.
Now Charlotte earns up to £120,000 a year running two businesses she set up herself.
The 42-year-old, who lives in London, has never really considered herself an academic, so when she decided to go to university it didn't make much sense.
The 'blockhead' family
She said: “The only reason I thought uni was for me is because it was the expectation. Everyone in my family went to college and got a degree.”
“But I'm not an academic, smart yes, but I don't think they are the same. I couldn't study, my brain wouldn't concentrate during classes, I couldn't revise because I didn't remember anything and I hated writing essays. “
“I learned better through practical work and by actually doing things, rather than learning how to do them. I did a year at the University of Birmingham and then dropped out.”
Unsurprisingly, Charlotte's decision did not go down well with her parents.
“They were disappointed because I had done very well to go to a red-brick university. My parents thought it was better to waste time and money on college if I wasn't going to work and do well.
“My wider family made me feel a bit like the dumbass of the family!”
Real Estate Pro
But young and full of ideas, Charlotte raised some money to start her first business.
She said: “The property business was set up with £1,000 that I saved from a part-time job. I bought a second-hand printer and laptop for £300.”
At just 21 years old, she founded Howard Property Services from her mother's spare room.
The company strives to provide high-quality solutions to real estate companies in need of compliance and leasing services.
Charlotte said: “The company made a profit from day one, so it was clearly a good idea.”
“After working out of my mother's spare room for two years, I sought and won investments, moved into an office and hired staff.”
Bumps in the road
Despite early success, Charlotte faced several setbacks with her real estate business.
She said: “I had a brain haemorrhage two years ago when I was in the property industry, just as we were moving into offices. So that was unbelievably tough!”
“Trying to get my mind working again after a confrontation with death is difficult!”
And the moment Charlotte took her eyes off the ball, her competitors were ready to swoop in and take over the market.
Charlotte said: “I wasn't looking forward to having my first child and when I returned to work after maternity leave I discovered that competitors had copied my business model and moved into areas I originally had a monopoly on. ”
“So that was a hard learning curve!”
Go for gold
But Charlotte was full of drive and ambition and in 2014 she made the brave decision to embark on her next adventure.
She said: “I believe in taking risks, but calculated risks. For example, I wouldn't remortgage my house or leave a well-paying job.”
Charlotte spent £2,000 and three years of retraining in jewelery design while running her first business and raising two children.
In 2020, Charlotte launched her second company Lottie Leigh fine jewelry after studying jewelry design.
“All jewelry I design is custom made. I make unique pieces for private individuals.”
“Everything I do is 'point of sale'. I have no costs until I sell something, so the risks were low.”
Now Charlotte earns a comfortable living while doing something she loves.
“My net salary is somewhere between £80,000 and £120,000 a year, although this varies. I always make sure that money stays in the companies.”
“I like to design unique pieces in gold and platinum with diamonds and precious gemstones.”
HOW TO START BUILDING YOUR BUSINESS
Emma Jones, CBE, is the founder of EnterpriseNation.com and said:
- Do your research. You have your idea, but what now? Spend some time researching online. There is a lot of support.
- Make a business plan. A good way to look at this is I'M OFF: idea, market, operations, finance and friends – including advisors and those who can help you along the way.
- Start selling through marketplaces. Sell through powerful global marketplaces like Amazon. Etsy and eBay give you easy access to customers, and you can send and ship packages through your local post office. Or look for service-based platforms like Fiverr or People per Hour
- Being paid. If you use marketplaces, the money will come in automatically, but if not, you'll have to get used to regular billing and chasing. Cash is king and fast payment is critical for small businesses.
- Further training and network. Once you receive assignments or work, you can start networking to expand your contacts and build skills.
Michelle Ovens CBE, Founder, Small Business Britain, said:
- Get support. No one is an expert in every area of business, so don't try to do everything alone. From pricing to finding clients, there is so much help available in the UK and online, and much of it is free.
- Be open to other ideas. Covid showed how quickly the world can change. Growing a business will rarely go exactly to plan. The companies that handled the crisis well responded quickly, changed things and made a plan B. It's important to maintain that flexible mindset because things inevitably keep changing.
- Think digital. From online selling to automating customer communications: technology offers enormous opportunities.
“I design in CAD and print a model in 3D, so customers can see and fit parts before starting the design.”
“I also grow heirlooms that are no longer worn.”
“The business idea arose from the problems I was having with my own jewelry commissions.”
“I hired a custom jeweler to design my engagement ring and it all went terribly wrong.”
“My friends had similar experiences and I thought there had to be a better way…so I did it!”
After everything she has built, Charlotte knows she has made the right decisions.
“Doubts are normal. I now know I did the right thing because I love the jewelry industry and have a passion for it that I no longer had for the real estate industry.”
“I have had someone else take over the services of Howard Property, it is still going well, but I just don't deal with it on a daily basis.”
Charlotte advises anyone wanting to start a business to make careful, calculated decisions and plan ahead.
“You have to understand things. I am one of the few jewelers who works backwards.”
“I estimate my predicted costs and profit margin and design with that in mind.”
“While many others would simply design without thinking about the end result and how profitable it would be.”
“So I think the skills I learned by not going to college have been much more useful in every way!”
Age and wisdom
As someone who started a business later in life, Charlotte says it's never too late to get started.
She said: “If you are interested in starting a business, you have to find a way to do it.
“At one point I was managing the real estate industry, studying jewelry design, while launching a new business and having a six-year-old and a baby at home! “
“It felt impossible, but I set myself weekly goals. I always made sure the goals were achievable so I could complete them.”
“If you are working, I would suggest setting it up as a side income and slowly taking steps to set up your business. Small steps lead to long journeys to exciting destinations!”
“So don't focus on the end goal, because that is too intimidating. Just take it little by little and you will get there eventually.”
“I want to be able to look back on my life and know that I lived it to the fullest, without regrets – so even if you're older, that doesn't mean you shouldn't get into business!”
“At the age of forty you will still be working for about 25 years and that is a long time!”
Uni dropout
Charlotte added that she doesn't think a degree would have helped her get where she is today.
She said: “I often wonder if my life would be different if I had studied jewelery design at university. I think if I had done a basic art course after my A-levels I would have found jewelery much quicker.”
“But I had terrible art teachers at A-level and they unfortunately put me off!”
“Often those who don't study or go to university discover that they have other talents that make them better business people than academics!”
“It's great to be able to learn and study, but if you don't have talent outside of that, you won't get far.”
“If you are good at project management and customer service, you will get further in life than any degree!”
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