If you were to look at the national bank balance sheet, you’d realize that access to fixed capital has really gone down. To elaborate, while the intellectual capital is growing (college graduates), you will find young engineers and doctors who may not have the necessary balance sheet to acquire fixed capital. So, the challenge has become, How do you finance people like that?
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.
To be a good coach you have to spend time with people and get to know them, and working together over a longer period of time allows us to develop chemistry. Clients have to understand how I coach, and I have to understand how they receive coaching. For instance, some coaches will grab your face mask and yell at you, while others will sit down and whisper in your ear.
Being from a small town, my father conducts his business with old-fashioned values, based on the honor system. I know its now referred to as “innovative”, but I consider his approach traditional business practices. My father understands the importance of customer service and honoring agreements — and I’ve incorporated these principles into my business.
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.