Richie, who has just begun a full-time MBA in the UK, is the co-founder of ADR Racing - a business he ran for over 20 years.
“We built, prepared and raced saloon cars,” he says from the University of Bath’s School of Management. “It was really about building cars and having fun on the circuits. I learnt a hell of a lot, especially in accounting and finance.”
Richie tried his best to make the company work, but he and his business partner went their separate ways. Motorsport costs a lot of money – even as a competitor. They began making losses in some areas and in the automotive industry, Richie says, wealth is drying up.
He may have closed down one business, but he has opened two more. While Richie is in the process of gaining an MBA from one of the highest-ranking business schools in Europe, he is also serial entrepreneur.
ADR Racing closed down in June this year but Richie founded other start-ups, in education and eCommerce, while still racing cars across Surrey. He setup ESL Heaven Ltd and ESL Teacher Recruitment in 2011, the former a website that provides free English-language legal aid for expats in South Korea.
Building an online business is fraught with difficulty and Richie has succeeded in enabling website-access to people in China and Iran – countries renowned for stern internet restrictions.
He set-up the company while working as an English teacher in the Ulsan, South Korea, during a four-year education career in Asia.
But there is another twist in the tale. The Bath MBA also worked in the oil and gas and pipeline industries, but his career was abruptly put on hold during the outbreak of foot-and-mouth disease in the UK.
“It affected the industry really badly,” he says. “Since the global recession, the industry has collapsed in the UK. There’s not much money in it anymore. I had to go into the construction industry abroad and I specalized in crane logisitcs."
It is not a rarity for entrepreneurs to develop start-ups before they begin MBA programs. But it is a challenge taking on a full-time MBA while still managing a business.
Richie is still the CEO of ESL Heaven and balances an MBA with running his eCommerce start-up. He is even developing a second website, ESL Teacher Recruitment, for the second branch of the company.
Business school is no easy feat and the 12-month program at Bath is a more intense experience than the two-year programs which are common in the US. But he is not fazed.
“I am turning ESL Teacher Recruitment into a social media website, after having had such a big response on LinkedIn and Facebook,” Richie says. “It’s even out-growing ESL Heaven at the moment.
“Most of my time spent with the business is on weekends and evenings. A full-time MBA is a bit of a hassle but I manage my time well.”
An MBA is a way to enhance his entrepreneurial skills – and Bath, consistently high in the UK’s MBA Rankings, has a huge entrepreneurship focus.
“Doing an MBA, for me, was brushing up on the skills I’ve already got,” he says. “A lot of MBA programs are very rigid. But I chose Bath because it has a strong entrepreneurial focus.
“The style of teaching is excellent and when I get to specialize in the New Year, I’ll be going down the entrepreneurship route.”
Richie may have worked in the construction industry, run his own motor-racing company and successfully started-up an eCommerce business – but he’s not stopping there. He sees the Middle East as the final frontier. The economies of the UAE states are experiencing high growth and any entrepreneur that wants to develop an international business would be wise to consider expanding into the region.
Post-MBA, Richie hopes to enter Abu Dhabi and tap into the emerging markets of Asia. An MBA has given him an international outlook.
“If I don’t go back into oil and gas,” he says, “I would like to enter either Dubai or Abu Dhabi and develop ESL Heaven. The region offers a lot of return for your money. There is a huge market for English language learning in the Middle East, but there are also opportunities in the oil and gas industries.”
Richie may not know which country or industry he will end up in, but there is one thing he is certain of: an MBA will give him the best chance of making his future business a success.
“It is definitely worthwhile and especially for entrepreneurs looking for a fresh approach,” he says of the Bath MBA. “I’m also going to get networking opportunities and improve my technical skills.
“The internet has taken over business in the last ten years. To access the Asian market with an eCommerce business, I need to have those technical skills.”
His career path is not clearly defined. There is no corporate career structure, no management consultancy firm to return to after graduation.
But that is the narrative of the entrepreneur.
His opportunities are seemingly endless.
Student Reviews
University of Bath School of Management (MBA)
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