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Great Business Owners Sacrifice Today For A Better Tomorrow

There is one truth that I’ve known since I was working with my Dad in his restaurant as a kid…owning a business was hard work! When he wasn’t at the restaurant (which was all the time) he was either talking or thinking about it, but that’s what made him great. There was nothing going on in his business that he didn’t know about. There was no job in his business that he couldn’t do, at least on some level.I am A business owner

Recently I had the good fortune of being able to interview Wing Lam, the co-founder of Wahoo’s Fish Tacos. He had many of the same qualities that I recognized in my Dad. He was a hard worker, he was a people person and he absolutely loved his business, because it was representative of whom he and his brothers and friends were. He built his around his life.

In my own business, I’ve tried to do the same. I love helping people, I love creating a team and I never (and I mean never) stop dreaming, planning and working to build my business into what I believe it could be. (Of course, every time I reach a level, I decide I should be at the next one). I say all of this, because if you’re thinking about becoming a business owner I want you to understand what you need and more importantly, what you’re in for.

 

  1. You won’t be the highest paid in your business! I’m sorry, but it’s true…at least for a while. Why? Because as a great business owner you will always hire the people you think will take your business to the next level and pay them appropriately. Don’t worry, there will come a time when you will reap big rewards from doing the smart thing.
  1. Work/Life Balance is next to impossible. You will find that you’ll be at your kid’s baseball game and your mind will start to wander to the next great idea to make your business more efficient or more profitable. It’s like a sickness and all you can hope for is that as you become more successful, you will begin to learn to let others run the day to day activities, while you think at a macro level and enjoy your family.
  1. Success breads a desire for success. This is sort of a good news bad news kind of thing. Just when everything is going great with your business and you could potentially have a life you will have another million-dollar idea! Maybe it is and maybe it isn’t, but one things for sure, you won’t rest until you find out…and neither will anyone else.
  1. Be prepared to risk everything It is entirely possible you will be eating Ramen noodles at many points of development for your business, because you’ve leveraged your home and bank account to keep your business alive. Most great business owners have been in this situation, so consider this carefully especially if you have a family. Everyone needs to be on board and able to handle the financial rollercoaster you will experience until you find your footing.

Do you still want to own your own business? Yes! Great, because you’ll love it. It’s a challenge, it’s frustrating, it’s a lot of work and I wouldn’t have it any other way.

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Dino

Leading the industry through his innovative approach, Dino Katsiametis has over 17 years of extensive experience within mortgage, banking and real estate industries. His passion for the collective financial and investment services sector combined with his distinct insight, has catapulted Money Matters with Dino onto the forefront of financial news.

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