As a multi-business owner, I battle to keep my sanity. My businesses offer solutions to different groups, so I interact with a wide range of people and personalities. Also, my ventures are in different industries, so I have to possess a business acumen across several industries. It is truly a delicate balancing act in running several businesses at the same time.
Working in an intrapreneur role in the corporate segment (for at least 3 to 5 years) before you become an entrepreneur can help you understand how things work. For instance, learning how to put together an infrastructure to help you become successful. But don’t get too comfortable working in the same department or role for too long.
I’m not from a family of entrepreneurs. My family has been middle-class and college educated folk – going back to my great-grandparents. It was uplifting to realize at an early age that I came from dignified people. That’s part of what has influenced my work with City Start Up Labs. The other part is being old enough to personally remember the Civil Rights Movement.
PMs can be a game changer for growing companies who “get” that being small is NOT about trying to do it all yourself. Engaging a Project Manager to create repeatable processes, organize, and track your projects, and drive collaboration within your work teams can boost your competitiveness and help you focus more on strategic initiatives.
The biggest challenges in starting my business, after relocating to Charlotte, was setting up (i.e. obtaining an LLC, an EIN number, setting up a business banking account, taxation information and logo trademark) and being new to Charlotte, building relationships from scratch.