I was inspired to start my own business when I was 12. I was fortunate enough to spend a lot of time in Spain at a young age because my grandparents lived there, and I remember looking up to a teenager in the village who seemed like he had everything; the latest gadgets, a petrol scooter, you name it. After working up the courage to ask him how he could afford all these things it turned out he’d created a search engine which became successful. I took pen to paper and before long set up my first online business – Rediz, an affiliate-based shopping portal. I had to do this under my father’s signature because in order to generate any revenue through affiliate-based programmes, you had to be 18.
I’ve launched many businesses in the 11 years since Rediz, including a search engine, SurfPony.com, a cloud storage platform UploadPod.com, travel agency TravelArena, and music site Clastaz.com. Although 90% of the businesses failed, these projects all lead me to where I am today. And it’s the failures that provoke you to reflect and force you to look at what you need to do differently next time.
One of my proudest moments was when, aged 17, I became the first teenager in the world to achieve 1m App Store downloads with one of my applications. Later on, after receiving some publicity on the back of that, I licensed some of the technology I built to News International, where I eventually became head of digital product innovation. I launched and helped manage mobile products for The Sun, The Times and The Sunday Times. I got the opportunity through someone I had admired for a long time, Steve Pankhurst (co-founder of Friends Reunited) – he changed my life.
I owe a huge amount to Steve for my success so far and know I wouldn’t be where I am today without him; it was a struggle to be taken seriously when I was starting (not that I recognised it at the time). When you have the right people in your corner it makes the path to success that bit more accessible, especially individuals who have been there and done it before. The encouragement, support and connections they can provide is invaluable. Pair that with your passion for success and determined work ethic, and you’ll see your maturity fast-forward. I devoted everything to my projects and businesses and arguably learned more in a few years than many throughout their 20s, and I think my investors saw that.
Growing up I enjoyed school but without a doubt feel like I missed out on parts – especially the social side of things – but it was a sacrifice I chose to make. That said, the underlying trait which has remained consistent to my character is that I am obsessively curious. The norm soon starts to bore me and I continuously look to find explanations for my curiosities. That mindset takes me to interesting places.
You have to be driven by passion if you’re going to succeed. Every entrepreneur has to make lifestyle sacrifices at some point, be that working around the clock or missing quality time with friends and family. It’s no secret; building a brilliant business, on average, takes 10 years.
Age in business doesn’t matter, but as a young entrepreneur you have time on your side. It’s never been easier to start a business, but it’s never been harder to grow one, so master your art and be proud of what you’re building.
Ted Nash is the chief executive and co-founder of Tapdaq
This content has been sponsored by Xero, whose brand it displays. All content is editorially independent.
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