Liam Rhodes
Fusing teaching with technology
At the age of 15 Liam Rhodes was named the youngest Managing Director in Britain, which generated vast amounts of media coverage. Now 17, his business, iFuse Technologies Limited, is branching out from web hosting and enterprise education software into MMORPG's (that's Massively-Multiplayer Online Role-Playing Games!)
What gave you the idea for iFuse Group?
One of my partners and I had skills which we knew we could put to use; I was particularly 'entrepreneurial' and able to manage and lead, and he was technically-able.
So, basically, our own abilities gave us the idea for the company.
What were you doing at the time you had the idea?
I had spent some time getting to know my partner, Dan, and it was just a case of talking it through and deciding that we could start the business.
To begin with, it was largely web hosting; because we thought this would be a good thing to start with – to gain some experience.
This idea came from the large influx of people going into that market – which was our first mistake (entering a market with too many people in it.)
What was the first thing you did to try and make your idea happen?
The first thing I did was set up the web site! This was rather foolish, because we decided to start the web hosting company with hardly any planning.
Of course, our first venture wasn't exactly what you'd call a blazing achievement due to the fact that it was built on inexperience and no organisation.
Consequently, as it's gone on, and we've come up with other ideas, the first thing we do is the planning!
Who helped you and how?
Well, I suppose in a way youth has opened more doors for me than closed, which is not surprising due to organisations like the Make Your Mark campaign.
During last year's Enterprise Week, I received substantial media coverage – regional and national; which has helped inspire me to go further and achieve more things.
In terms of actual business help, I've picked things up as I've gone along – inspiring figures such as Simon Woodroffe and Sir Richard Branson are a help, as unlike other things, there is no such thing as a cliché entrepreneur (it goes against the principles of enterprise!)
Activities which I have participated in, such as a visit to my local Rotary Club, also help by drawing on experience.
What obstacles did you encounter along the way?
Not many that weren't caused by us! Lack of experience was the largest, which caused so many problems. I find humour in the fact that all the things you'd expect to be problems – Companies House accepting a 15 year old as a managing director, banking issues, etc – were not.
The expectation that Companies House as an organisation are not helpful people is not true at all, and my bank (I'll not mention who they are in case people think I'm plugging it) is fantastic.
When did the idea start looking viable?
As soon as we came up with sustainable, real, ideas. One was our enterprise education system which is to be sold to secondary schools.
Another was development of an MMORPG (Massively-Multiplayer Online Role-Playing Game) and ICT call-out services. We are also just starting to establish a niche hosting market, which will keep our hosting operations afloat too.
What future plans do you have for the idea?
Well, we're launching our enterprise product very shortly. We are very confident that this will provide enough profit to invest in other potential money-makers. I'm in this for a long time, not just short-term monetary gain!
Advice to anyone who wants to make their ideas happen?
Go for it! There's no business success secret, it's just all about experience – so be prepared to fail!
There's no such thing as an instant business millionaire; it requires drive, ambition and the discipline to stick with it. Most entrepreneurs fail miserably, perhaps four or five times before hitting their real, viable idea that makes them money.
In my experience, altruism is also a key aspect of entrepreneurship. If you can find a cause, other than yourself, to make money; or even self-reward, then this gives you a lot more motivation.
Don't focus upon the money constantly, but also reward for your achievements.