2. Need a strong support system. Your support system has to be 100% on board. Your significant other, your parents, etc. There will be many of times when their schedules 100% revolve around the business, too. For my birthday, Steph and I were at dinner and came home to a drunk employee running the store. I had to let him go, so my birthday plans were cancelled and the rest of my night was spent behind the counter at the liquor store. Stephanie has learned not to give me a hard time about any change of plans. If she wasn't as supportive, it would be impossible to do what I do. Another incident was in June. I was in my business partner's wedding and had an emergency at the store and Steph and I left the wedding celebrations to drive 2 hours back to the store to run it. My parents were affected, Stephanie's mom was affected, Stephanie was affected, but they all supported me. I wouldn't be able to do this without their support. 3. Capital. I mentioned before that having business partners is important for access to capital. But so is having a good savings and credit. That's pretty much self-explanatory. 4. Dedication. This is arguably one of the most important characteristics of an entrepreneur. A lot of people think businesses are supposed to be overnight successes. Wrong! Sometimes, It takes years. There will be endless nights, parties cancelled and events missed. Many times you'll want to quit, but you have to see the overall, long-term picture. That'll help push you. It's a 24-hour job. I always tell Steph she has it easy because she can leave work at 5 and not think about her job until 8 the next morning. That's never the case with me. I dream about it. I toss and turn, thinking about business. I check in when I should be relaxing. I guess this shows my passion for business, plus I know it'll be all worth it. It's hard as a business owner, people never understand the work I put in. It hasn't come easy. I've taken risks, My partners have taken risks. We continue to take risks and be well supported. The biggest thing I always tell my circle is that anyone can do it, especially in the era of social media: you just have to save and be prepared to devote an abundant amount of time to have a flourishing business. Start saving. Get some partners in your corner and do everything you dreamed of!
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AuthorsJust four married friends here to discuss relationships, life-changing events, parent-hood, religion, race & trending topics. Archives
January 2018
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