• From Bankruptcy to Business Empires: Neil Kilgour's Gems of Resilience and Redemption

  • Sep 27 2023
  • Duración: 35 m
  • Podcast

From Bankruptcy to Business Empires: Neil Kilgour's Gems of Resilience and Redemption  Por  arte de portada

From Bankruptcy to Business Empires: Neil Kilgour's Gems of Resilience and Redemption

  • Resumen

  • Neil begins by recounting how he left school with little to no education and began his entrepreneurial journey by securing a role in a jewellery business cleaning silver. After some time the owner took Neil under his wing and offered him the opportunity to undertake some formal qualifications which led to him studying as a gemmologist and securing his an FGA (Fellow of the Gemmological Association) having undertaken the four year course. This was the first time he recalls enjoying learning, completing his diamond diploma, which helped him progress in the industry. 

    Later he took what was originally planned as year out and moved to Australia to go back packing. In the first six months Neil worked in a gold mine in Calgary, western Australia. Neil found a partner on his travels and consequently stayed there for six years and took up a role as a gemmologist in Syndey. 

    After the relationship ended Neil returned to the UK in a damp grey November and recalls being depressed. He returned to living with his parents, found a couple of part time jobs, one of which was a commission-only base role making leads for a home improvement company in the evenings but ultimately, he was looking to return to the jewellery trade. While Neil didn’t have much luck re-entering the jewellery trade, someone suggested he go on the sales training course through the home improvement company to develop further there. 

    Neil sold his first deal quite early on, then didn’t sell anything for nearly 3 weeks and confessed he nearly left the role as he had lost confidence and felt demoralised but couldn’t leave until he had received his commission on the first sale. While waiting for payment Neil started to gain traction in his sales. He describes himself as an “Unconscious competent” he was good at what he did but wasn’t really aware of what he was doing but clearly had a natural talent as he progressed quickly and won the national sales competition winning a new BMW. Neil admits he wasn’t the best salesperson in the company, but he wrote and executed a plan which led him to ascertain the win quite comfortably. 

    After winning the competition Neil quickly moved into management and became an assistant manager, then a branch manager for around 12 months before being promoted to regional manager looking after 5 branches, within 5.5 years with the company Neil became sales director. 

    When Neil eventually left the sales director role, he started his first business. Neil confesses he was naïve when starting business; to raise the equity required he sold his house and moved into rented accommodation to invest in his start-up. It all started very well but grew too quickly to manage, after 3 years they were turning over 12M a year but in hindsight Neil says he didn’t understand the business outside of sales and marketing. They faced multiple challenges from employee thefts to manager misconducts which ultimately contributed to the decline of the business and personal bankruptcy. 

    It took Neil five year to become financially stable again, Neil admits he used to feel really uncomfortable discussing his failures, but add that he now views it as a fundamental learning opportunity which contributed to his overall success. Mistakes have supported in identifying flaws quicker.

    In total Neil has started 10 businesses, some of which are still ongoing, some intangible to each other, others have individual structures. CH4B – Central Hub for Business is Neil core focus and passion, built on the premise and learning of starting and running multiple businesses, its just not possible for one person to do it all, and to help support businesses through success rather than ruin, CH4B was launched in 2020. 

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