You can bet your lucky stars that our WCW is a billionaire, having founded and remained joint CEO of the popular online gambling company Bet365; I present to you Denise Coates CBE.
As published by Forbes this year, Coates whom hails from Cheshire England has been listed as having a personal fortune of £3.17 billion. Coates earnings can be attested to the entrepreneurial influence of her father Peter Coates (business tycoon and current chairman of Stoke City) and her consistent successes within the bookmaking industry. From cashier to accountant and eventually the managing director of her family’s betting shop estate, Coates refused to settle amongst her success as she turned the shops fortune into numerous pots of gold. Instead she set her sights on what she believed was a bet worth taking, a sure thing if you will. Coates obtained a loan from Barclays and began turning her dream into reality.
To start the New Year as she meant to go on in 2000; Coates purchased the domain name Bet365.com; she then spent a year creating the online site. To fund her dreams for Bet365 she took a risk and borrowed £15 million from RBS against the family betting shop estate, and boy did the risk have a high return and reward. In 2005 the shops were sold to Coral for £40 million which paid off the loan with change left over. Bet365 has since grown into one of the world’s largest online gambling companies, with $2 billion in revenues and facilitates $45 billion in bets in the year through March 2016.
Here are 3 top tips to accumulating a worthy return on your dreams:
- BUILD AS YOU GO – Master a particular industry to provide a solid foundation and then invest in the success of another’s strong business model. For example Bet365 owns a majority stake in the Stoke City Football Club. I’d say that’s a goal hit. Multiple revenues of income whilst building an impressive legacy.
- ALLOW THE FAMILY TREE TO BRANCH OFF FROM YOUR SUCCESS, WITH YOU AT THE ROOT – Though many advise not to work with family I think it’s wise, dependent on the member you choose and what skills they possess. They do say family is everything, so where possible why not put your all into building up family and strengthening ties. Needless to say, you’d certainly leave great fortunes for the next generations of your family. If blood related family really is a no go for you, aim to have at least one friend whom you’d consider family at your side within business; you’ll be able to count on this person for honesty and understanding in trying times. For example: Coates still runs the company alongside her brother (Co-CEO) John Coates, although Denise Coates is the majority shareholder with 50.01% ownership of Bet365.
- GIVE AT LEAST A TENTH OF WHAT YOU EARN TO OTHERS IN NEED – As an upheld value within Christianity, i’d urge even those lacking in faith to acknowledge the moral and often physical returns of philanthropy. Morally i’d quote Luke 6:38 ” Give, and it will be given to you. Good measure, pressed down, shaken together, running over, will be put into your lap. For with the measure you use it will be measured back to you.”” If you aren’t a person of faith, I provide this simple logic; If you give to those in need you are seen to be of good character and morality and thus most will WANT to align themselves with such a credible company/person. Wether rich or poor, humans tend to care about how ‘humane’ they appear — go figure!!
Until next time be good to yourselves, kind to others and above all GROW DAILY.
Written by Karen Sherise