Meet The Entrepreneur: Peter Sage

Meet The Entrepreneur: Peter Sage

Meet The Entrepreneur: Peter Sage

Peter Sage is a well known serial entrepreneur who has started over a dozen companies since leaving school at 16. 

He is a best selling international author, highly sought after public speaker and consultant to high level CEO's around the world.
He lives on The Palm in Dubai.

RachaelO recently met him and he answered 10 essential questions aspiring entrepreneurs want to know.

What was the first job that you did that developed or instigated your entrepreneurial spirit?
When I was five years old we drew some sweets in art class and coloured them in. My mother was called to the headmistress’s office when she came to collect me to be told that I had gone around and 'sold' mine to the rest of the class for extra pens, crayons and dinner money.

What was the most entrepreneurial thing that you have ever done, or that you were most proud of?
All but one of the businesses I have had were started from scratch.  In 2003, I lost everything on a deal when I walked away from three partners whose values no longer aligned with mine. All my money was in this particular deal, and I knew that by walking away it would wipe me out. However, I was adamant that who I was would never allow me to sell out my values for cash.

Three months later they cut off my electricity and I spent several days sitting around candles, as I had no money for power.  I then bootstrapped a land development company by convincing a farmer to give me an option on some land I couldn't afford and then re-sold the deal for enough to finance the purchase of some further property.

Nine months and several similar deals later I took all 22 staff of my new company to the world’s most exclusive hotel, The Burj al Arab, for Christmas to celebrate what we had achieved. Quite the turnaround year, albeit one of many over the last two decades.

If you could recommend people to look at any one website for inspiration of for its value, what would it be and why?
http://www.GeorgeZalucki.com – being a successful entrepreneur is not about mastering certain techniques, being good as sales, risk analysis or having an MBA.  It's about having the right mindset. Of the many mentors I have had, George Zalucki has taught me more about having an empowering psychology than anyone else.

Have any of your business ventures ever failed? What went wrong?
Absolutely! Business can fail for many 'apparent' reasons, the most common of which are usually things like, the economy turned down, technology shifted too quickly and our product became obsolete, interest rates went up, HR issues and many more. However, I believe that businesses go out of business for one reason and one reason only – they are miss-managed, and as the CEO, Chairman or MD I have to take responsibility for that.  The only company I ever 'lost' was an advertising agency, which extended too much credit to one particular client who then went bust, leaving us with the bill. Due to the way I had constructed the business model, I couldn't trade out of it in time.  17 people laid off and a very dark day for me as a 23-year-old entrepreneur.  Chalked up to experience.

As an entrepreneur, have you found any habits that are hard to break?
The main 'habit' if you can call it that is the addiction to 'The Game'.  I'm not talking Xbox here, but the whole 'Game' of the thrill of the chase of the deal. It doesn't matter if it's haggling over a pound at a car boot sale or negotiating interest rates on a multi-million pound loan, the size of the deal is mostly irrelevant, its about getting a good deal and it's a hard habit to break.  Not always seen in the best light by your tired partner when checking into a hotel late at night and it takes 10 minutes longer because I'm haggling with the manager over the room rate or an upgrade etc.

What is the most powerful or influential book that you have ever read?
Busting Loose from the Business Game by Robert Scheinfeld.

If you could invite any 3 people to dinner, who would they be and why?
Richard Branson, Nelson Mandela and Master Yoda.  Sir Richard because he is the quintessential entrepreneur and we share a lot in common. I am sure within ten we would have a deal cooking or start a business together and that would be a trip!  Nelson Mandela because to understand even just a fraction of how much of a man it would take to do what he has done, spending 27 years in prison to be released having no resentment to his captors, becoming president and uniting a country in its darkest time – wow, now THAT is a life worth living and it would be amazing to gain insight from him into what makes that possible. And Master Yoda because his insight and wisdom come from a totally different energetic place.  Plus I wouldn't have to pass him the bread.

What is your biggest and most audacious prediction for the next 12 – 18 months?
To realise my first Billion dollar business by closing on contracts for energy across the US and China.

Do you have any favourite motivational quotes that you can share?
Things turn out best for the people who make the best of the way things turn out. If you do not write down your goals, you will probably end up working for someone who has. If life were simple, it wouldn't be as fun!

What key qualities to do you think that an entrepreneur needs to have, in order to realise their potential?
Very simple.  The ability to deal with uncertainty.

Relevant Links
Peter's Website
Space Energy
Peter Interviewed on Gabor George Burt's Radio Show
Save the Rhino


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