I have always had the “itch” to run my own business. I was raised on a ranch in a very remote area. I had a successful egg sales business from the age of about 8 (my own flock of chickens to sell about 2 dozen eggs a week), which eventually grew into a small cattle operation, which I sold out of by the age of 16. I learned that work and business is much more than 8 hours a day; hard work is required, but smart work is a necessity; and that subsidies (chicken feed and hay) don’t last forever.
I haved founded a series of companies and currently co-manage a company that helps people or organizations, especially when they have a specific technical skill, build their business and manage their operations.
We work with those groups to develop, maintain, and when required adapt their business plans. Regardless of our level of involvement, every day has a new set of adventures and challenges. I started my career as a financial advisor. After graduating with a general business degree I joined a firm.
in my mid 20’s. I would help to formulate financial plans for individuals or families. This included tax planning, insurance coverage, retirement planning, and more. I soon found that the industry as it was currently structured didn’t hold my interest. Being directed to create 5 financial plans, and placing all of your clients into one of those five slots, which included pre-determined product, not only seemed unethical to me, but also made my days very boring. People are unique, and they deserve to be treated as such. The politics of financial advising/planning is another story all to its own. Suffice it to say, I moved on to another form of financial planning… financial planning for companies.
An opportunity fell into my hands as the tech boom of the late 1990’s continued to surge. I was able to match capital with a technology based product in need of funding. I negotiated myself a spot in the ensuing company, and provided all levels of support from basic reception to running financial projections. All relevant skills to any start-up. The fiscal success of the company was permanently stalled in 2002 through a combination of poor management and a suffering industry. As bubbles burst and dreams of being a multi-millionaire by 30 were washed away, a new measure of success came to me.
I had worked a number of years with this group, and I learned some of what to do, and much more about what not to do.
Through some friendly connections I landed a similar role with another firm that was focussed in the natural resource space. This story had a much different ending. I learned many things of what to do. After working a few years with some very professional people, I acquired a certain skillset in planning.
Company planning. I was also lucky enough to share in the upside in this company, and through company incentive options had a small stash of funds. Working with this group, I learned much about what to do.
When is the best time to start out on your own entrepreneurial journey? I think that is different for everyone, but for me it was when I had the appropriate balance of knowledge of knowing what to do, and what not to do. Having sufficient funding to get things started is also helpful. Thus, this was the best time for me. I always had the “itch” and when a number of things fell into place, it was time to take action.
My company is now 10 years old, and our success is tied to the success of our clients. Some have had financial success, and others have not. Some have grown, and others have taken longer to find their way. As we continue to support companies, it is very important to me to increase the quality of that support. The financial success will come when it comes. If you have the entrepreneurial spirit, neither a big win, nor a large loss is going to take that away from you.
Learn from the wins, and learn from the losses, and you will be successful.