The Path Less Traveled

Originally sent exclusively to The Letter subscribers on January 20th. Want to be the first to get my personal newsletter in your inbox every Monday at 7am? Subscribe for free here.

I keep seeing and hearing the phrase “a path less traveled.”

I encounter it in audiobooks, conversations, and podcasts. Funny how something can take over your personal zeitgeist.

Maybe it’s because I feel the strain of walking the less-traveled path that resonates with me; some days, more than others, I don’t want help or sympathy. I just wish the path could be downhill instead of up!

Some days, I feel like I’m trudging uphill in the rain, on crutches, with no one around to lend a hand.

It’s a fact: the further you travel, the fewer people there are to support you.

Entrepreneurs often choose the devilishly difficult path and the more successful they become, the lonelier the journey.

Despite the toys and assets they accumulate, in society's eyes they’re winners, it’s abundantly clear that these medals or trophies mean little compared to the sacrifices required to keep it all together for everyone else.

My life is changing each month, and momentum is shifting both with and against me - it’s strange.

As we, dear reader, join this club of a less-traveled path, the more I advance, the less I can relate to the problems faced by the many.

I don’t know why I have such determination and drive - to be a fixer and a finisher. It’s just part of my makeup.

Why do we love what we do so much?

Over the last six months, I have faced various tests that made me discover resilience and calm I never realised I had.

It has also made me more resourceful. This week, I struck a massive deal. It’s monumental; it transformed us from a £40 million to a £50 million business overnight.

Our business, with the stroke of a pen (well, a DocuSign), became international, operating in Malaysia, Singapore, Hong Kong, and China.

And I don’t just mean selling products - I mean having offices and staff, and a lot of them.

Our now international web of operations allows us to leverage other opportunities in our existing empire, and I’m excited about that. (I’ll tell you all about it in the coming months)

After closing the deal, I went to my next meeting, as casually as having a routine cup of tea (Yorkshire Gold as always with blue milk; none of this wishy-washy half-fat, goat or oat-milk nonsense)

I’ll have my tea like my granny made it - or not at all.

I was pleased to have saved the business and protected many jobs - a big win for us.

Hopefully Mr and Mrs Universe will pat me on the back.

We just became responsible for much more as an organisation, I didn’t feel the weight of it all, I felt it was duty.

This all transpired from a LinkedIn message to completion in the time it takes for your next mortgage repayment - we bought a £10 million business in less than four weeks.

I got home that night, and my wife asked how my day was. Shrugging my shoulders, I replied, “Yeah, so-so,” because that’s what it is now.

What becomes life-changing for some becomes routine for others.

I think of Elon Musk during these times - he’s launching satellites and rockets to space, helping the next leader of the free world as a side hustle, and saving American taxpayers money with a cabinet position.

For me, buying another business is just part of the job. It’s a significant deal to some; to me, it’s just living.

I received congratulatory texts and emails as if I’d won a presidential race from people I didn’t even know. How did they find out?

That’s my point gang: I, like you, are on a path less traveled, but to us, it’s just a path. I don’t view any of it as a big deal.

Is it hard? Yes. Is it lonely? For sure. Rewarding? I’m not certain; at times, it feels punishing.

I see it as my duty to support our now 1,500 employees and ensure they have livelihoods, regardless of the personal difficulties.

I wrestle with the constant push to move forward, innovate, and find new profits to cover my responsibilities - to HMRC, my largest shareholder, who always wants more and gives nothing in return.

I get punched and battered every day, dealing with more problems than I thought I could handle.

As we grow, I find it increasingly challenging to stay nimble, maintain standards, and resist the “we are a big business” mentality that can lead to creeping costs.

In companies we’ve recently acquired, I’ve witnessed overspending and underspending in operations - too much cost-cutting harming service, while in other cases, sheer stupidity prevails.

Time teaches you to adopt a Goldilocks approach to business - not too hot on costs, not too cold - just right.

That’s my biggest piece of advice: keep it simple and small in your actions.

Control costs, trim excess, and while you should think big, be wary of layering “stuff” just because you’ve heard that’s the best way.

Ask yourself—Is it really necessary? Live by the phrase, “Be frugal on costs so we can be generous in investment.”

I believe in prioritising sales before operations but quickly follow with operations once you approach your limits.

Cut out middlemen and keep things in-house wherever possible.

Be cautious of consultants and professional advisors, as well as unnecessary software costs that rarely get utilised.

Often, these so-called experts lure you with pomp and pageantry, leaving you with disappointing results after they’ve drained your hard-earned revenue.

They can be akin to get-rich-quick schemes - rarely do shortcuts and hot air dressed as a consultant lead to success.

I’ve often told advisors to come and implement their advice while working with me full-time.

The typical response to this measured accountability to their idea?

Silence.

If you do find good advisors, treasure them—they’re rare.

Seek those who have real experience, those who have “done the do” and earned their stripes. I’ve met only a handful and can count them on my fingers and toes.

Self-discovery is a curious journey. The past few months have pushed my comfort levels, and I’m grateful for the challenges.

We learn so much when we step outside our comfort zones. I’ve always believed that life presents us with opportunities to achieve more.

I seize most of them, aware that many do not. I’ve offered opportunities to others, but they often prefer the safety of the familiar.

This leads me down even more less-traveled paths. On these paths, you may encounter heroes or foes, competition you admire or envy, or people who flaunt titles and status.

Like me, you might wonder if these heroes or oligarchs of success have an edge over you. More often than not, they don’t.

They’re merely a few steps ahead, sometimes thanks to a bit of luck.

You’re probably more capable than you think and are a worthy match.

A couple of times a year, you may come across a brilliant mind.

When you do, protect that connection at all costs. Recently, I’ve been dealing with more solicitors and advisors than I’d like to admit.

The number exceeds the number of intimate encounters I had in 2024, and I have more tax and financial advisors than is probably good for my mental health.

Before this significant deal was finalised, I found myself entangled in another transaction with 23 advisors on my side and even more on the other side as we hashed out terms and conditions.

If you’re entering a deal, I find that all-party calls really help to “cut the crap.” It's the doers, not the advisers, who make things happen.

The responsibility lies with you to bring people together and drive results.

Because, at the end of the day, “If it’s to be, it’s up to me.”

Lastly, what do you call a Frenchman wearing sandals? Philippe Fallop.

To your continued success,

James

P.S. Buying Business is on the 25th March 2025 and I’d love to see you there. Find out more here.