I talked to my grandmother this weekend which, normally, is not what you'd expect to read about on a blog dedicated to entrepreneurship. Except that my grandmother opened her own retail store back in the 1960's and successfully ran it for 68 years despite her only having a high school education and two children at home.
We talked for a while about my business and how things were going and there was one major aspect of our conversation that really resonated with me. She agreed that while the idea of paying yourself first (as so many bschool professors say to do) is a nice one, it really isn't realistic when you're running a small business with limited access to cash. She told me that there were some times when she felt like she was working for free because she had to make sure to pay her employees first and then any cash that was left over always seemed to be needed for one bill or another. Even those times she would take trips to bring in new business it was always 50-50 as to whether or not she'd be able to cover the cost of the trip with the new business.
It was interesting to hear this and her other thoughts about running her own business. She did say that even though she didn't always make money, she relished the freedom and creativity that running her own business gave her. Apparently I know where I got this entrepreneural bug.
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