Patrick Moylett is director of Harrington’s of Fulham, a used-car dealership in west London. He has also found success selling tweed, property and condoms. Here he shares 10 of his top tips.

1.
In the beginning, sell quickly and…
When I was in property, I noticed that customers were slow to pay because negotiations took so long. If the setting-up costs are too big, you might become one of the 60 per cent of new businesses that fail. So I moved into selling cars: buy them, do them up, sell them. There’s instant reward.

2.
…buy cheap
In the mid-1980s I noticed that old Jaguars were quite cheap so I bought two to get started. I drove from London to Normandy in one and in Paris I stopped at an antiques shop. When I returned to the car there was a man waiting who wanted to know if it was for sale. Parisians loved the old Jaguars so I started driving to Paris once a month in one and parking it on the Champs-Élysées with a “For sale” sign on the windscreen. I made a lot of money.

3.
Decide whether you’re a lone wolf
As I was starting out, I thought, “I want to do this alone”. That’s just the way I am. Other people work better with partners. It helps if you realise this early on.

4.
Selling is easier if you don’t have to explain things
Take an existing product and market it for a new use. Marketing is the most expensive part of a young business. I started selling condoms during the Aids crisis, when their use was still considered largely contraceptive. I marketed them as a prophylactic but didn’t have to spend much on explaining what they were – most people already knew.

5.
Spot opportunity abroad
When I was in France at the age of 18, I realised that every apartment door had a spy hole, which they didn’t have in my native Ireland at the time. So I bought 3,000 of them and took them to Ireland in a box and went door to door in Dublin selling them.

6.
Look at horizontal ways of selling
After I started my condom business, Red Stripe, I began thinking about how the idea of protection could apply to other products. So I started selling Red Stripe-branded cycle gear and rain protection.

7.
Follow your joy
The use of condoms was still very controversial when I was getting into the business – Ireland was very conservative at the time. My girlfriend’s family was strongly against it. So I drew up a list of pros and cons. The con list was very long and the pro list had just one thing: I enjoyed it. So I decided to continue.

8.
Get out there
I was in the lobby of the Time Out offices in London when I overheard two journalists talking about a condom shortage. I told them that I had a business and asked whether they would interview me. I restarted my business the next day and was on the cover of Time Out. It was invaluable publicity.

9.
Choose the right name
When I bought my first car showroom, I called the company Harrington’s of Kensington, even though it was just a railway arch in Ladbroke Grove. I wanted people to associate the brand and the cars with an expensive area of London.

10.
Learn how to read people
As soon as someone comes into my showroom, I can tell whether they will buy a car from what they say and do. I’ve saved a lot of time by not chasing lost causes.