My First Million: Rachel Elnaugh of Red Letter Days

How one entrepeneur made a mint from 'wrapping up experiences'. And where it all went wrong.

Rachel Elnaugh started her career shortly after leaving school in 1983, as an office junior in an Essex accountancy firm. Bored with the day-to-day routine, "I began asking for more demanding work, and soon enough was taking on more responsibility", she says. She began taking on her own portfolio of clients and by 1986 the "little Essex girl" was working as a senior tax consultant in London with Arthur Andersen, then the world's biggest accountancy firm. "I was advising top-flight clients, entrepreneurs such as Sir Terence Conran and Anna Vinton," she says. That got her thinking about starting her own business, although it wasn't until 1989 that she got the idea for it.

Red Letter Days: the inspiration

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Jody Clarke

Jody studied at the University of Limerick and was a senior writer for MoneyWeek. Jody is experienced in interviewing, for example digging into the lives of an ex-M15 agent and quirky business owners who have made millions. Jody’s other areas of expertise include advice on funds, stocks and house prices.