Do you dream of going on Shark Tank or retiring at 50? Maybe simply taking something that you’re passionate about and starting a business? While some may think that sounds like sunshine and rainbows (and there are a lot of moments that are), we got the inside scoop from our Head Honcho, McCall Peck, on some storm clouds that you may experience on your journey in biz life.
When asked the question, “What do you believe are the 5 hardest parts of starting a business?” this is what we got… (naturally she gave 6)
- “Putting yourself out there to start and to grow. Self doubt is SO easy when you don’t have the right support team and when you know you don’t have a clue about something that can get you into trouble.” Our advice to you? Find your “squad”! The ones that will be there through thick and thin, motivate you and bring treats on the tough days.
- “Understanding numbers. We didn’t all go to finance school, let alone know how to read them and project or “forecast”. I still don’t really fully grasp this.” (She’s always working on it though.) You can never have too much education in this department and it is okay to ask for help!
- “Understanding the legal jargon and paperwork to be a real business. I should make a cheat sheet for people”. Hello google, you old friend. And when that doesn’t help, find other resources! This will be an important part of the business, from licensing to employees, and it’s important that those parts are done correctly.
- “Hiring and letting go of employees. You have to be vulnerable and trusting to let people handle your dream… then it’s heart wrenching and discouraging to let them go.” Employees can turn into friends and family, and that is okay. Sometimes separating the business from “the family” is a hard, but important task for the sake of the business.
- “Learning/coping/understanding the juggle between being a workaholic to get the business going and your personal life priorities”. The hospitality industry is demanding, hard, rewarding, fun, and so many other things. As in any business though, it is important to learn how to separate the two and enjoy a personal life.
- “Learning to let go and trust.” This is a work in progress, we’ll keep everyone posted 😉
Some days you might feel on top of the world, and some days the only thing that will get you through is a Starbucks brownie. The ups and downs are OKAY! Norton National’s biggest hope for you is that you love and succeed in all of your adventures.
Interested in how McCall started Norton National? Take a look here.
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