Daily Inspiration: Steve Smith- The House That Poundland Built

Times were tough for Steve Smith, the founder of Poundland, when he was growing up. 
At the age of just two he would find himself sat on his father's market stall freezing cold at 6am. 
But a brain for business obviously ran in the family as the entrpreneur went on to sell his company for £50million.

Now Mr Smith, 51, lives in a 13-bedroom mansion in Shropshire which has its own swimming pool, snooker room and pub.
The businessman is now making a start on his next venture - an online version of Poundland called
poundshop.com.

Mr Smith says his inspiration was his hardworking dad who ditched his job to become a trader selling pens door to door when he realised it brought in more money.

This led his father to start a market stall before he bought his own cash and carry.
Mr Smith remembers helping out on both the stall and in the cash and carry which is where he learnt the basics of business.

Mr Smith told The Sunday People: 'I used to be straight out of school and on the stall, loading vans, going round houses knocking on doors to try to sell things.

'It was a way of making pocket money. I was always interested in making cash. I'd get round to doing my homework later.

'I was more interested in getting in making cash. I’d get round to doing my homework later.'
When most 16-year-olds would have been sitting exams, Mr Smith opened his first discount shop in West Bromwich.

If items had lost their packaging they were put in a box and sold for 10p.
The box was always popular and everything got sold which is where the idea for Poundland came.
He managed to convice a shopping centre in Burton upon Trent to open a store in December 1990 and £13,000 of stock was sold on the first day.

Mr Smith remembers working through the night to get the shop re-stocked for the following day.
In 2002 he sold his share of Poundland for nearly £50million.

By then the business had a million customers a week and 6,000 people were employed by the company.

Mr Smith now finds himself living in a luxury mansion with his family while also owning homes in Florida and Majorca.

Despite having enough money in the bank to retire, Mr Smith didn't want to stop working just yet and has launched a number of other businesses including one which offers investment loans to other entrepreneurs waiting for a lucky break.





Source: Daily Mail