Monday, January 11, 2016

My Entrepreneurship Story

 Morning, fellow entrepreneurs! 

I would imagine all of us have have had direct or indirect experience with entrepreneurs at some point. My father was a manager of a car shop for many years here in south Florida. After that, he went out on his own and started his own shop. This meant getting his hands dirty again, but building something for his family was worth it. My dad stayed in business for a couple years before he decided to close shop. Statistically, only 66% of small business' survive their first two years. That means about 1/3 will fail in just the first two years. 
I personally believe a majority of this failure was his location and demographic. The people he was servicing nickle and dimed him for everything including an oil change. It's imperative that your expertise and pricing match the area you are servicing. 
I'm sure my dad is still grateful for the opportunity he had as he learned what to, and not to do, in his future endeavors. 
“I have not failed. I’ve just found 10,000 ways that won’t work.” - Thomas A. Edison
To add another perspective, my husband is an amazingly talented jeweler. What can I say? I'm his biggest fan. He currently works for his uncle as a jeweler in his fine jewelry store. It's truly a gorgeous store and has built a well known reputation in our area. Since I'm going to school to obtain my business degree and he loves creating custom job, we've considered opening our own fine jewelry store. 
If you saw some of the custom work he's created, you would be fascinated. 


Just a little backstory to this. A friend of ours had someone she cared for being deployed to Kuwait. She had an idea to create a charm that would connect Florida to Kuwait and be split into two parts. They would take each other's part to signify their commitment long distance. The final picture is the two charms before the were split. You can see the split of it there. My husband helped someone's idea come to life. This process never ceases to amaze. 



We're still unsure if this will be our future endeavor but it's absolutely a contender. 

Truly, I've enrolled in ENT3003 because it's a requirement of my degree. However, this class has been incredibly interesting and it's only been a week. I'm very much looking forward to how this course will improve my perspective and knowledge around being an entrepreneur. 






5 comments:

  1. Hi Jamie!

    Wow, your experiences with entrepreneurship truly have me inspired. My grandfather owned his own car shop in Connecticut for several years and his business closed due to the same reasons you mentioned here. It was definitely a learning experience for my grandfather and once he tried again in New York City, things worked out much better. Those charms are absolutely beautiful that your husband created! That was a beautiful concept that he helped bring to life and I say that you two should definitely consider opening your own fine jewelry shop!

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    1. here is a link to my blog! http://breyflynch.blogspot.com

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    2. Thank you, Breyenne!
      New York City is full of great opportunity. So happy to hear his failure did not deter him.

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  2. Hi Jamie,

    This was a great read. I enjoyed reading about your fathers entrepreneurship story and really liked the quote from Thomas Edison you've put in. Like your dad, one day, I will take a leap of faith as well and try to start something of my own in the near future. Although, statistically speaking, the survival rate for small businesses is very low, like your dad, I want to build something for my family that is worth it. I want to share a quote that I read and I think it relates to entrepreneurs and risk takers alike.

    "Let me tell you something you already know. The world ain't all sunshine and rainbows. It is a very mean and nasty place and I don't care how tough you are, it will beat you to your knees and keep you there permanently if you let it.
    But it ain't about how hard you hit; it's about how hard you can get hit, and keep moving forward. . It's How much you can take, and keep moving forward. That's how winning is done" - Wise words from Rocky Balboa.

    Again, thank you for sharing your story!
    Brian Do Kim.

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