Susie Ambrose was working as a psychotherpist and realised that her wealthiest clients had no time for personal lives. So she founded Seventy-Thirty a global matchmaking service for millionaires.
Name: Susie Ambrose, CEO.
Age: 39
Business: Seventy-Thirty Ltd.
Type of business: Matchmaking, Lifestyle, and Life Coaching for Millionaires
Start date: 25/10/04
When did you first decide you wanted to start your own business?
When I was working as a psychotherapist. I felt I had a flair for business strategy and creative implementation and this made me realize that I was destined to start my own business. I was already working with wealthy clients who usually didn’t have time to meet suitable partners, so I began to strategize a plan for Seventy-Thirty.
Tell us about your business
Seventy-Thirty is a global matchmaking, lifestyle, and life coaching service for millionaires and high net worth individuals. It was started with the understanding that the very successful are often “cash rich, time poor,” individuals who sometimes lack the time it takes to have a fulfilling personal life. Seventy-Thirty also has a sister company, Aspire 70:30, which was created for those who, although not wealthy, would like the chance to be introduced to wealthy members based on various compatibility factors.
Was it your first business idea and where did it come from?
No, it wasn’t my first idea, though it was the one I felt the most passionate about.
Was your decision to start a business inspired by any other companies or individuals?
I was inspired by many of my psychotherapy clients, who revealed a genuine need for a professional, personalised approach to matchmaking for the wealthy. This apparent gap in the market served as a catalyst for my business development plan.
What makes you think there’s a market for your business?
Research has proved that the affluent tend to work 70% of the time, leaving only 30% for their personal lives. Before the company launch, market research confirmed that many successful men and women were indeed single and had few appropriate resources for finding suitable partners.
What research did you do?
I got a business writer that did 85% of the research. I also researched the internet and various publications for possible competitors.
What advice did you seek?
Some of my husband’s friends, who are successful businessmen and help from experienced business people, my solicitor, and my accountant.
Does the government need to provide more help to people trying to start a business? If so, what should they do?
They should come up with a secure system that helps fund start-ups, much like angel investors do.
How useful has your business plan been and do you think you’ll stick to it as your business begins to grow?
It has been essential to stick to the business plan throughout. However, we see new possibilities emerging as well.
How much did it cost to start the business?
£50,000
How did you fund this?
I have an investor (business angel) and I put in some of my own money too. I knew my investor from before and I showed him my business plan and he liked it. I found the experience very exiting and educational, he took a percentage of her company which is typical protocol.
When did you stop working?
I stopped working as soon as she started developing the concept. It was very strange to her at first as I was thinking and making decisions on my own. But this feeling evaporated very soon and I felt very excited about the whole thing. The moment was majestic and I will never forget that day. I knew I had just jumped on a train that would take me to my destination: my own successful business.