Reading Make Your First Million taught me some key things about business. The book maps out a clear plan that all entrepreneurs should follow while helping them to understand the business planning procedure. It explains that risks are there to be taken – you get nowhere by standing still – but they must be carefully considered so there is no diving into the shallow end head first.

By detailing his own experiences, Martin Webb shows that cash really is king, and that relying on multiple lines of credit is no substitute for a healthy bank balance. But the big light bulb moment coming from this handy book is the analysis of Webb’s own highly successful business concept. He demonstrates how to get into the mindset of a particular consumer, target them and make huge profits, rather than trying to create a business that caters to everyone.

As proof he relates how he decided to target the 25-35 age group in Brighton, providing them with everything they needed from bars and dancing to gyms and Sunday smoothies. It’s been a great source of inspiration for me.