Whether you’ve opened your own brick-and-mortar store or not…I think we can all agree, anyone on the path to retail store ownership or a successful online shop can probably benefit from a few solid character traits: Confidence, determination, adaptability, courageousness… just to name a few. However, when you’re bootstrapping a business, and staying within your budget is a top priority, this will require PATIENCE. On my journey to opening a retail store, I didn’t want to take the path that entailed loans and debt. I wanted to pay for everything, and I mean everything, in CASH. It took many years for me to become debt-free personally. So when my sister and I started on the road to becoming retail store owners, it was a priority for us to take the course without owing anyone anything. You know what I mean?
Life is so much better when you aren’t indebted.So what does this mean? You won’t have a steady income to start, you may not be able to pay for a $10-$20k build-out, you might have to continue to work a full-time job for the benefits and salary, or you might have to rely on a spouse to help carry the financial weight at home or for medical insurance. I can think of so many things you may not be able to do, or have, right away.