Michael Acton Smith is a born entrepreneur – but though he’s successful now, he freely admits that the road to his success was sometimes pretty rocky! After raising his first capital in a “don’t try this at home kids!” way straight out of university, Acton Smith started up online gadget shop Firebox.
Six months later, he was ready to throw in the towel. “We just couldn't make it work. Banks wouldn't lend us any cash or anything.” He says. But a flagship product – the shotglass chess set – saved them. Near bankruptcy followed, as did a huge cash injection of over £6 million – nearly all of which has been spent by the time he created Moshi Monsters. Now a hugely successful businessman, listen to Michael Acton Smith’s inspirational tale of sticking it out when the going got tough.
Interested? We thought so! If you'd like to hear more, listen to Michael's podcast below:
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