Dragons - Theo Paphitis

Theo Paphitis is one of the UK's most high profile businessmen. His empire spans retail, property, finance and consumer goods.

Born in Cyprus, his family emigrated to Britain in the 1960s and Theo showed his business skills at the tender age of 15 when he was put in charge of his North London school's tuck shop, achieving notable success.

His formal working career started as a junior clerk (assistant to the tea boy) with a Lloyds of London broker before moving into retail at the age of 18.

He then moved into property and corporate finance, setting up his own company aged just 23.

He was Chairman of Millwall FC for eight years, taking the club out of administration and into the Championship and to the FA Cup final against Manchester United and then into Europe for the first time in their history.

He has also revived the fortunes of notable retail brands such as Ryman, La Senza Lingerie (UK), Contessa Lingerie, Partners the Stationers and Stationery Box. He sold his interest in La Senza and Contessa in 2006 and now retains a minority shareholding. In 2008, he combined the stationery businesses to launch a new chain, Ryman Stationery, where he is now Chairman.

Another notable venture is Red Letter Days, the company he salvaged out of administration with fellow Dragon, Peter Jones.

Theo’s life story, Enter the Dragon, gives an insight into the thoughts and aspirations of one of the UK’s most popular entrepreneurs.

Through his appearances on Dragons' Den, Theo has advised many young entrepreneurs and invested in several innovative businesses and brands. The Paphitis Charitable Trust distributes all of his fees from TV appearances, speeches and his book to causes close to his heart and charities associated with children.

In early 2009 Theo was appointed patron for Skillsmart Retail, the Sector Skills Council for Retail, which is committed to driving up skills levels in the industry. His special areas of responsibility are as the Retail Apprentices' Champion and for the new National Skills Academy for Retail.

In summer 2009 he was awarded an Honorary Doctorate from the University of Middlesex.

Theo lives in Surrey with his wife Debbie. They have five children and three grandchildren.

Name: Theo Paphitis

Age: 49

Family: Wife Debbie, five children and three grandchildren

Describe yourself: Competitive, impatient, compassionate

Estimated wealth: In the hundreds of millions

Most outrageous purchase: Boat, summer 2008

One thing I always spend the extra on: I don't. If there's extra, I put it away

Best job I've had: Doing what I do now

Worst job I've had: Making the tea at a Lloyds broker

The one thing I look for in employees: That the lights are on

Dream job: Got it

Favourite book: Catcher on the Rye by J D Salinger

Favourite holiday destination: Cyprus and Spain

Favourite sport and team: Football, Millwall

Favourite pitch: Imran Hakim's iTeddy

Best investment to date: Magic Whiteboard

The one that got away: There's no such thing

I'd never invest in: Anything immoral or that exploits others

Best advice you've been given: Cash is king (from my mother)

People you admire: Churchill, Napoleon, Delia Smith and too many others to mention.

Your motto would be: I take nothing for granted. I now have only good days, or great days. Courtesy of Lance Armstrong

For impressing in an interview / pitch

Dress smartly (a tie is not always necessary)

Research the subject/business as much as possible

Answer questions with honesty and precision

For running your own business

Work in a subject area that you love

Understand the detail – if you are new there are many sites like Businesslink and smarta.com that are full of useful tips and advice

Write down your business plan

For surviving the recession

Work sharper and smarter eg small, tight teams

Watch your overheads

Don't forget to invest in people ie keep training

For getting your product to market

Get true feedback from those other than friends (as they will always be kind)

Agree target audiences and ways you are going to tackle them

Invest in great design and strong promotion.

For winning investment

Have a business plan

Demonstrate your achievements to date, ideally financial ones

Get testimonials and support from respected third parties

For making millions

Look for business opportunities with scale ie ones that have potential to grow

Make your first £100,000, knowing the rest will be far easier

Always keep your feet on the ground.