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Self Employment - Success Spotlight #1

Success Spotlight #1

Name: Walter Iacucci
Age: 25
Business: Canada's Sleep Gallery
Nature of Business: Mattress Sales
Date Business Established: September 1993

1. What made you go into business for yourself?

Besides always wanting to do something on my own, I would have to say that the opportunity arose and the business plan showed it to be promising. The adventure also intrigued me. I always had a problem with making other people rich while I just made a pay-check and an occasional pat on the back. Now my efforts reward myself.

2. What was hard about it?

The long hours; dedication to the business above all. It was difficult to explain to my family and friends that I had to take care of my business. I could not plan anything personal during the start-up. Prioritizing became a neccesity and procrastination the enemy. I could not leave things unfinished, no one else was going to take care of them.

3. What was something surprising about it?

There was nothing that was totally surprising about starting my own business, but what I found to be a little more unexpected was the true gratification I felt when I told people that I owned my own business. I did not truly expect to feel that way. I knew that I was proud of the effort I put into the business but my true feelings went beyond pride. I feel that being totally surprised about something after starting your business means that you were not totally prepared. Being prepared is essential to every entrepreneur.

4. What do you really love about having your own business?

That it is mine, plain and simple. Any effort I choose to put forth dictates the rewards I receive and not someone else's. Also, everyday is different. I do not simply come in and do my job. New obstacles always come up and I have to take care of them. This is a love/hate relationship as sometimes you wish that you had the luxury to pass it along to someone else, but then you learn to thrive on the problems, and new challenges.

5. What advice/comments would you offer upcoming entrepreneurs?

Before you start your business make sure you plan and prepare yourself. DO YOUR HOMEWORK. Ask people in the field as many questions as you can think of, no matter how stupid the question. Do a business plan, talk to a bank manager for any insight on financial requirements, ie. loans or business grants that may be available to you. Never get discouraged. Starting a business or launching a new concept or idea is never easy; there will always be skeptics. Don't get stressed out, it's never worth it. But the number one piece of advice I could give anyone is not to mix any part of their personal life with business. If possible do not personally guarantee anything. Doing so, would definitely put an undo amount of stress on their personal life




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