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He spent years visiting Chelsea’s plush haunts, earning a living and a reputation from his parties.
But Spencer Matthews has revealed how, after turning his 20s into “I didn’t like to fund my lifestyle” jobs, he turned his passion into a global business.
The ex Made In Chelsea star, who is estimated to have a personal net worth of £2.9 million, founded his low-alcohol spirits company CleanCo in 2019 after dumping alcohol following the birth of his son.
Entrepreneur: Spencer Matthews has revealed how, after spending his 20s in ‘I didn’t like financing my lifestyle’ jobs, he turned his passion into a global business
Last year Spencer, 34, raised £7m in investment for the brand, which is now sold in 40 stars in the US, as well as online and in UK stores.
Not a complete novice in the business world, having worked as a city trader before hitting the headlines in 2011 for £50 a day on the E4 series Made In Chelsea.
Then there is the small business of the family business. His father David Matthews is a former door-to-door salesman, race car driver and hotelier with an estimated net worth of $2.6 billion. Spencer is a shareholder in his parents’ well-known hotel, Eden Rock in the Caribbean.
Spencer recalls in an exclusive conversation with MailOnline that in his twenties he tried to fund the lifestyle that his privileged background afforded him.
“I spent a lot of time working professionally in jobs I may not have liked, using paychecks to pay to live and to fund my lifestyle,” he recalls.
Spencer felt unsatisfied with his job, but realized he had an “unsustainable relationship with alcohol” during those heady years of partying and TV fame.
“When I was in my twenties, I found it difficult to realize my full potential. I have always been ambitious. I realized that my relationship with alcohol was hindering my chances of becoming that person, whoever that may be,” he admits.
He decided to stop drinking in 2018 and, in his words, became “soberly curious” after the birth of his first child with wife Vogue Williams.
When he was offered a non-alcoholic gin and tonic at a party, he got the brainwave that would change his career path.
“From the idea to the attempt to turn it into a business, there was no time at all within a week,” he says. “I can’t tell you how impatient I was with it, it drove me crazy. I knew right away that I had to do this and I had to do it.”
Spencer calls himself “impulsive, ambitious and sometimes arrogant” and admits that his newfound passion for work has influenced the family life of Vogue and their three children, Theodore, four, Gigi, two and Otto, six months.
He confesses, “I’m an obsessive person, I became obsessed with this and I think it was unappealing to begin with.”
“I was so attached to this subject and to myself that you forget about some really important things, like spending time with your kids when you have an hour off.”
“I absolutely love my kids and my family, but I was really sucked into this. At one point I was on the phone every night at 1am, 2am and 3am. Of course it means your mood is just affected and you’re not quite the same person.’
Family: Spencer decided to quit drinking in 2018 and became “soberly curious” in his words, after the birth of his first child with wife Vogue Williams, leading to his business idea
“You need support, especially from your wife and family,” he adds. ‘My wife is my best friend, we see each other every day. She has her own career, she doesn’t need me or need this to go well.’
And he admits he has a security blanket: “Vogue is hugely independent. I’m lucky in that regard, I don’t risk the future of her or my family if I fail. She is successful in her own right and that is of course useful for me, it takes some of the pressure off.’
Spencer chooses to embrace his ambitious nature, pointing out, “I think confidence is a good quality, not to be confused with arrogance. There’s a thin line between the two.’
“Starting a side-hustle or a business without raw passion is really hard. People have to believe in you, your idea and what you think you can achieve.’
Juggling act: Spencer calls himself ‘impulsive, ambitious and sometimes arrogant’ and admits his newfound passion for work has influenced family life with Vogue and their three children
“I would much rather fail at a wild target than achieve an easy one, but in business you have to find a middle ground.”
Spencer is now sharing his business secrets and running a campaign to empower potential entrepreneurs to take the plunge and launch the business ideas they’ve always dreamed of.
The #MuscleUpYourSideHustle project will support 10,000 people to set up money-generating sidelines over the next 12 months.
The campaign, from Osome (which provides small businesses with financial management and accounting tools) is giving away free information and advice packs to anyone in the UK interested in setting up their own business.