Martin Lewis sold his website MoneySavingExpert.com for £87 Million in June 2012, a site he started in 2003 at a cost of just £100.
MoneySavingExpert.com is a British consumer finance information and discussion website with the aim of providing information that enables people to save money. Quite simply in my own understanding, Martin Lewis just showed how it is possible to build up and sell a financial information website by putting the user’s interests first.
In the video below Martin Lewis shares with us how he started out and how he got his big breaks(more than one he says). He studied law at the London School of Economics, he worked for a while as a financial PR in the City, then he did a bit of stand-up comedy in the evenings before later training as a journalist.
The website was started in 2003, he says “the concept of a money-saving expert actually became popular before the recession”. Pre-recession, people wanted to find-out about managing debts, as they had borrowed too much. But in times of recession, it was all about savings. Mr Lewis says he hates being overcharged, and has nothing against spending money. In his own words: ‘I have a big problem with value. I like value, I’m not tight.’ Interestingly, Martin Lewis has managed to cash in on austerity by giving financial-savings advice on a wide range of matters. As at the time of the sale, the site commands 12 million users a month and 6 million people get weekly emails.
NOTE TO SELF: The economic condition in the country does not dictate my success.
Later that night my friend calls me and said he has been thinking all day, and he has come to the conclusion that “Martin Lewis really is a total legend”. As inspiring as Martin’s story is, another thing also struck me; The ability of someone’s success story to spur another person on, to push you to have a go at something you have been pondering upon. It has been a while we uploaded an article on our blog, but after seeing the new zeal in my friend, because of this story, we have decided to continue to put up success stories in order to spark the creativity in others. Who knows, reading one of our articles could push one person to become a millionaire also. This has always been the idea behind CreativityTurf.
We are also going to be coming up with materials to assist people, after they have been inspired.
To be inspired is one thing, keeping the zeal is another!