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What It Costs To Start a Business

Fraser Patterson, the CEO of a home renovation platform which is based in the USA spoke on the struggles of becoming an entrepreneur. Talking about those difficult days he disclosed various things, like how he had become bankrupt and moved abroad twice and got divorced. At the time he was financially struggling so much so that he had just $60 in his pocket. Here he talk about his journey.

At first, his company ‘Bolster’ was started in New York City, as a home addition platform that is capable of delivering major renovation projects. Saltzman said that he has seen life from high to low. In fact, there was a time when he had to abscond abroad twice after becoming bankrupt, abandoned by investors and other stakeholders and on top of this he was divorced.

Answering a question on the way he began his business he said “ That his parents were involved with the finance and construction business, so at the age of four, he was inspired by them and wanted to build homes. He became a general contractor and took on a project to renovate homes. But life took a different turn when everything went wrong including business losses. Then he started getting death threats from a few people so he had to move to the United Kingdom and there he started working as a lecturer on entrepreneurship. There was a time when he had just $60 dollars in his pocket while in Mexico.

While staying there he was impressed by an entrepreneurship scheme set up by the Mexican government, which had a provision of taking a fraction of salary from every employee and the same amount was spent to promote entrepreneurial development. The scheme was a great success. Under this scheme, once a tender was called for ,the project it ensured that the project could run smoothly and guarantee success.

Mr. Paatterson presented his idea in front of the organization after introducing himself as a former entrepreneur and got selected. He raised capital and resettled his business infrastructure. After a certain point in time, he again started the same business in the United Kingdom. The journey of Fraser Peterson from zero to hero is really an inspiration for young entrepreneurs.