This Business News Story Was Uncovered By Us From: https://blog.eonetwork.org/2020/10/4-things-i-wish-i-knew-as-a-young-entrepreneur/
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Contributed by Shawn Johal, business growth coach, leadership speaker and co-founder of DALS Lighting, Inc. He is also an active member of the Entrepreneurs’ Organization (EO) Montreal chapter.
“The secret of getting ahead is getting started.” –Mark Twain
Many entrepreneurs I meet have incredible stories about the way they started their businesses. Some had a wild idea and found a way to sell it; others accidentally bumped into an opportunity they were able to seize and monetize. Rare are those who spent months planning with a highly detailed strategic plan filled with metrics and key performance indicators.
My own journey started in the toughest of circumstances. My wife’s family had started a business. They were able to take it public and experienced exponential growth within eight years through mergers and acquisitions. The business was a true local success story.
Then the recession hit. The company was ill-prepared to handle the pressure of reduced revenue with growing expenses. Within 18 months, all was lost. It truly felt as if life were ending for us.
My brother-in-law and I did the only thing we could think of: Buy some of the remaining assets and start our own thing from scratch. I wish I could say we had exceptional vision and knew we were building “the next big thing.”
In reality, we were naive and just doing our best to survive. No bank would even consid… Read More
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