November 24, 2015
Successful Women Entrepreneurs Share the Business Rules They Didn’t Follow
When you first started in the business, what was your biggest challenge and how did you overcome it?
Mitchell: My biggest challenge was finding funding to start the business. I was laid off from my job, which at the time was paying me 60K yearly. I had only 15K in savings and no real investments, but I was determined to start my own business and not go back to working for “the man.” I cashed in my 401(k) retirement fund. Although it was heavily taxed, I used that money and my savings along with loans from friends and family as my seed money. I basically starved the first three months and ate lots of canned soup for dinner. It was a huge risk, but I was determined to be successful. I believed I would be successful.
Many trailblazers find themselves making their own rules. What rules or guiding principles have you set for yourself?
Mitchell: As my own boss and a leader for many, my business moves are watched and sometimes copied. Being an entrepreneur suits my personality and I had to let my personality be very involved in my business. Because I didn’t have prior experience in any of the businesses I own or any inkling as to how they should be run, I had to create my own rules every step of the way. I had to learn to challenge convention and to be creative and take advantage of unexpected opportunities.