7 ms·
My father owned a real estate company, an ISP and a CLEC while growing up. All turned into lifestyle businesses, even though they were meant to be big exits in
by jdg 16y ago
My father owned a real estate company, an ISP and a CLEC while growing up. All turned into lifestyle businesses, even though they were meant to be big exits in their respective industries.
* I learned that you're up some years and down others. The trick is to just keep pushing forward.
* Some people have it, others don't.
* You won't be able to recognize whether you have it or not, until you're actually doing it.
* Marry the right person (and make sure they have health insurance that covers you and your family).
* Keep your personal expenses low and maintain the ability to live off of your partners salary while you're bootstrapping, if that's the path you take.
Bonuses:
* You get to have great discussions around the business every time you're together.
* You're able to lean on your dad (or mom) and ask for advice about what they would do in particular situations. Basically a built in mentor.
* You have a #1 fan that in some ways are living their own dreams through you. And they actually "get" what you're doing.
You have to be careful though that you don't fall into some of the same traps that they may have. As a great example: the typical small business mindset is to never, ever give up equity. For what we do here, it's silly to think that way. Equity is another tool in your toolbox, and should be used when appropriate.