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Tom McPherson on Using Digital Currencies and Business Acumen to Create Wealth Online

LondonDailyPost.com


When asked if he feels that luck had anything to do with his incredible entrepreneurial success, Tom McPherson responds with a resounding ‘no.’ The founder of the popular membership site Motor Culture Australia, McPherson has increased his investment portfolio 20x and has a multi 7-figure portfolio. At the age of 22, he’s in the developmental stages of building his second online brand, and is looking to expand this new venture along with Motor Culture on to the international stage. And he is quite adamant that luck had no part in his success.

“I credit my success to my investments in digital currencies along with the business acumen that I picked up along the way,” says McPherson. “I’m constantly researching my industry and relevant markets to ensure I have a competitive edge. I like to think that I stay one step ahead of the competition. But, that being said, I also seek out critical feedback, and learn as much as I can from my peers.”

McPherson had more than his fair share of business failures when starting out at the age of 19. By the time he was 20, he had started a total of five businesses, none of which resulted in sustainable incomes. After losing a substantial part of his savings in the stock market due to the pandemic, he started to dabble in cryptocurrency as a hobby. As he became more familiar with the industry, his investments started to pay off. But McPherson doesn’t believe in settling for one source of income, so he quickly started to diversify.

“I’m all for capitalizing on the booming cryptocurrency market, but I think it’s important to actively search for new opportunities and new ways to invest. For example, I’m planning on getting into the commercial real estate industry and take on some large developments and projects. I would never recommend sticking to one source of income, no matter how well it seems to be doing at the time.”

McPherson sees himself as a highly driven and passionate individual with a desire to succeed and be the best at everything he puts his time into. But his business acumen was something he had to work at and learn about. He believes that prioritizing and identifying market gaps and opportunities is vital to starting a business, which is precisely how Motor Culture Australia got its start.

“I became keenly aware that Australian car lovers were not in a happy place overall. There was a lot of negativity and bullying going on, and people were getting tired of it. Motor Culture filled that gap by creating a safe and welcoming community for everyone, regardless of what vehicle they choose to drive.”

McPherson adds that there are plenty of ways out there to create wealth, but it’s important to become diverse and adaptable.

“Be persistent, stay focused on your goals, and don’t be afraid to take risks and get out of your comfort zone,” he concludes. “The key is to just do it and learn as you go.”

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