The One Pound Challenge by Alan Radbourne

Hello! I’m Alan and this summer I graduated from Loughborough University having studied Geography and Sport Science. Like most finalists I was really unsure what I was going to do with myself after graduation, entering the big wide world is a daunting thing.

Until one day I had an idea… the One Pound Challenge.

The One Pound Challenge is an exciting project that aims to raise financial awareness, instill hope and inspire audacious generosity through the development of a business over one year just from an initial £1 investment. On the 1^st June 2013 (just two days after my last exam) I began with £1 in my hand and a year ahead of me to see what can be achieved.

Despite having never studied business or finances before, the idea comes from my simple desire to manage my student finances well by exploring and trying money-making and saving ideas, this developing into a keen passion for small entrepreneurial businesses.

The aim of the One Pound Challenge is primarily to discover what can be achieved in one year with just a £1 investment. Additionally, the project will aim to provide inspiration for people to become good with their money, encouragement for people to step out and not be afraid of failure, especially if looking into going into business, and equipping people with practical and honest financial advice from my experiences.

So far the challenge is going well. I have turned my £1 investment into a little over £2500 within seven weeks, learning a lot about business (and myself!) along the way. During the first seven weeks, hard work and putting myself out there has been key. I have worked as a washer up, car washer, and cleaner all the way through to a light bulb changer, decorator and even flat-pack furniture builder. It is amazing how many low-investment, well-paid jobs are available if you are willing to just put your self out there and get on with things people do not want to do themselves… especially in areas with lots of student houses!

 (Picture above the One pound challenge first investment)

I hope the originality of the challenge will captivate your imagination, that the story will inspire you to take a bold step upon graduation or in the next stage of your life, and that the practical advice I provide will encourage you to manage your finances well.

If you would like to find out more about the One Pound Challenge you can find information at:

www.myonepoundchallenge.co.uk

Follow on twitter: @Pound_Challenge

Like the facebook page: OnePoundChallenge

Or follow my blog found at: onepoundchallengeblog.wordpress.com