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In our How I Make My Money series we aim to find out how people in the UK are earning their cash and making a living. This week we speak to Shane Harper, 38, a British man living in Bangkok, Thailand. He quit his job in construction to run his own business and often takes home over £13,000 per month.
Monthly budget
My monthly income: My business, Limitless Entrepreneurs Academy, typically makes around £24,000 to £31,000 a month, with the sales value of deals coming in at around £39,000 to over £59,000 each month. We keep 40 per cent in the business to cover things like tax and business expenses. Out of the 60 per cent net profit, I get 70 per cent of this, so take home between £9,900 to over £13,000 per month.
My main monthly household outgoings: At present, I stay in hotels and short-term rentals, at a cost of £236 to £314 per week, so around £1,258 per month. Utility bills and broadband costs are always included in the cost of the rental. I eat out every day and have food delivered to me and I’d say I spend around £390 to £550 a week on food and drink, so about £2,200 a month. I usually travel every two months and will spend anywhere between £1,572 to £3,930 per week while away. In Bangkok, I pay £78.60 a month for the gym, and I also save and invest 20 per cent of the money I have coming in each month into various funds. Living a remote lifestyle and needing to carry all my possessions in suitcases means I often buy new clothes and shoes. I spend between £3,930 to £6,290 a year on new clothes and shoes a year.
I grew up in Plymouth and am from a low-income family. My father worked as a bricklayer while my mother stayed at home, but sometimes worked as a childminder. I left school at the age of 16 and went straight to work.
I’ve had numerous jobs over the years, including a brief spell at an ice-cream factory and another job where I was cleaning wheelie bins for a living. When I was 17, I got a job as a labourer, earning £8 an hour. I then got a carpentry job at Princess Yachts and ended up earning £12 an hour after working there for nine years. Eventually, I ended up as a self-employed carpenter working on industrial jobs and fixing new-build houses. I’d make about £500 to £650 per week.
Over time, I became a site manager on construction sites, earning £16 an hour. My take-home pay was £615 per week. In the past 10 months of working in this job, I knew I was going to leave the construction sector. I was using all my spare time to study and build a personal brand for an online business. When I worked in construction, I just wasn’t making enough money to be able to live a truly comfortable life.
By this point I had a two-bedroom flat with a mortgage of £540 per month. It was a decent flat and I spent £10,000 renovating it, but it was small and had no outdoor space.
I briefly experimented with various new jobs, including becoming an independent travel agent and a forex trader. The latter was definitely not for me and lasted five months. However, a forex trader I worked with put me in touch with Lewis Mocker, someone who had mentored him and helped people with their mindset and business ideas. I subscribed to Lewis’s monthly programme and came to realise coaching people was for me. I’d always loved learning new things and sharing what I was learning with others. I came to understand that my upbringing had created a need deep within me to make money, live a good life and provide for my loved ones. This was a profound moment in my life, and I stopped hanging out with friends and just went all in on doing what I needed to so I could start living the life I dreamt of.
After returning to construction, I finally quit the sector and my job in January 2021 and moved to Bangkok in April 2021. My close friends and family were supportive, but most people judged me because I was now showing up on social media talking about business and mindset. I didn’t even tell most people that I’d quit my job and left England. Some people just don’t like to see others bettering themselves, but this doesn’t trouble me.
I set up my business, Limitless Entrepreneurs Academy in September 2020, though it used to be called something different. The set-up costs for the business were minimal. The turnover for the business was over £78,000 in its first year, over £157,000 in its second year and looks set to be around £315,000 this year. The profit margins are quite high. I’d like the business to be bringing in around £120,000 each month.
The business helps people establish and grow online service-based businesses. We have two programmes clients can sign up to. The first is called Limitless Entrepreneurs Kickstarter. It is designed to help new coaches or online service providers to make over £11,000 per month, as well as help people who want to get out of the nine to five rat race start an online based business.
The second service is called Limitless CEO. It costs clients over £19,000 for a 12-month service and guarantees them to at least quadruple their revenue and transition from a solo business owner to a chief executive with a small team and a leveraged system to help them scale.
I am more motivated by the lifestyle money allows me to live than by money itself. I want to be free and live life on my terms. This means having business freedom, namely uncapped income, time freedom, mental freedom and financial freedom.
I work 25 hours a week on average. I use systems and people to help me manage my workload so that the business isn’t solely reliant on me.
I have a stocks and shares investment strategy that will provide me with around £27m by the time I reach 65 and plan to move into property investing within the next three to five years. I invest in a Vanguard stocks and shares ISA and have other index funds. Currently, I invest 20 per cent of my personal income into these funds. I want to invest over £15,700 per month for 28 years at a 10 per cent return and increase my monthly deposits by three per cent to keep in line with inflation.
As well as launching another new business over the coming months, my main goal is to take care of and provide for my parents when they retire in five years’ time.
Want to take part in How I Make My Money? Email money@inews.co.uk
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