What was the motivation behind starting a new business or making significant changes to an existing one? Where did the idea for the business come from? I found inspiration in my father’s successful grocery store and decided to enter the world of entrepreneurship. After gaining experience there, I made the decision to lease a Shell gas station after completing my associate degree.
How do you find individuals who share your passion for your organization? Initially, I enlisted the help of my brother to manage the gas station.
“We are hiring” signs were displayed on the door as the business became busier. Those interested in employment should submit a CV and at least three references to ensure reliability.
Confidence, organization, time management, and paperwork skills are crucial for successful entrepreneurs. Additionally, maintaining motivation is essential, especially during challenging times.
For college students aspiring to be entrepreneurs, here are three pieces of advice:
- Do not fear taking risks and see failure as an opportunity to learn.
- Create connections and build relationships with individuals or mentors who share similar aspirations and can offer guidance and support.
- Maintain curiosity and consistently pursue knowledge through formal education or self-learning endeavors.
a. Embrace the process of learning how to take calculated risks while also maintaining organization.
b. Initially, my choice to become an entrepreneur had a significant impact on my family’s finances. However, things have gradually improved over time. Nevertheless, I still encounter difficulties in finding a balance between work and family life. Currently, I dedicate only one day per week for rest and typically plan a week-long summer vacation.
c. As an entrepreneur, my primary worry is losing customers and experiencing a decline in business. To address this concern, I consistently set aside some cash as backup during slower periods.
I swiftly decided to buy a plot of land for my business when it became accessible between two cities.
One of my major mistakes was rehiring an employee who had previously made several attempts to steal from me. Despite his pleas, I made the error of agreeing to hire him again, only for him to attempt theft once more.
I have learned the importance of being cautious when trusting others, especially after making my own mistakes. If given the chance to converse with a historical figure, I would select Martin Luther King Jr. since he established the foundation for racial justice in the United States of America. When asked to summarize my life as an entrepreneur using one word, “Risky” is what comes to mind. In the future, I aim to possess more gas stations within a decade and lease them out to other entrepreneurs. Regarding the future success of my business, I envision it flourishing not only in ten years but also twenty years down the road.