Entrepreneurship and Tips for Starting Your Own Company

Starting a company is a leap of faith. For me, it was a journey marked by challenges, growth, and ultimately, a sense of fulfillment. As the founder of Ridge Street Capital, a private lending firm that helps real estate investors achieve their goals, I’ve learned valuable lessons about entrepreneurship. Today, I’m sharing my story and some top tips for anyone considering starting their own business.

My Entrepreneurial Journey

My Entrepreneurial Journey

The idea of running my own business wasn’t always on my radar. My career began as an Aerospace Engineer for Collins Aerospace, a subsidiary of Raytheon, where I developed landing gear for military and commercial aircraft. While I found the work fascinating, I eventually felt the pull to explore a different path. This led me to finance—a field where I could combine analytical thinking with a desire to make a tangible impact on people’s lives.

After making the leap into finance, I honed my skills in the lending industry. Over time, the idea of starting my own company took shape. I envisioned creating a firm that truly understood and supported real estate investors. This dream became a reality when I founded Ridge Street Capital, a move that also prompted a significant personal change—relocating from Toronto to Miami. The transition wasn’t easy, but it was one of the most rewarding decisions I’ve ever made.

Starting Ridge Street Capital wasn’t without its hurdles. There were countless late nights, tough decisions, and moments of doubt. But through perseverance and a clear focus on serving my clients, I built a company I’m proud of. These are the most important lessons I’ve learned:

Top Tips for Aspiring Entrepreneurs

Whether you’re dreaming of launching a business or already taking steps toward it, here are my top tips for navigating the entrepreneurial journey.

  1. Gain Experience by Working for an EntrepreneurBefore starting your own company, consider working for an entrepreneur. This experience can provide valuable insights into the challenges and realities of running a business that you don’t get in Corporate America. Having worked for a Fortune Top 50 Company and a startup before founding Ridge Street Capital, I learned much more about running a business working for a smaller company.
  2. Understand Your Market by Talking to CustomersDon’t assume you know what your customers need—ask them. Conversations with prospective clients can help you refine your business idea and create products or services that truly resonate. Once your business is up and running, you can then turn these “soft yeses” into clients.
  3. Plan for Extra Financial RunwayStarting a business often takes more time and money than anticipated. Build a financial cushion to cover unexpected expenses and give yourself room to grow.
  4. Invest in Scalable Marketing StrategiesFocus on marketing channels that can grow with your business, such as SEO and organic social media, which don’t have big upfront costs. These strategies provide long-term benefits and help you reach a wider audience.
  5. Choose a Doable Idea You UnderstandYou don’t need to invent something groundbreaking to succeed. Start with an idea that leverages your existing knowledge and skills—something practical and achievable.

Managing a Family While Running a Business

Managing a Family While Running a Business

Running a business and managing a family can be a delicate balancing act. When I first started Ridge Street Capital, it was a challenge to juggle the demands of both. Here are a few tips on how to manage both:

  1. Set Clear BoundariesWork and family life can easily blend together when you’re passionate about both. To avoid burnout, set clear boundaries between work and family time. Whether it’s dedicating specific hours to work or having “unplugged” moments with your family, establishing these boundaries will help you manage your time and energy more effectively.
  2. Delegate ResponsibilitiesYou can’t do everything on your own, so it’s important to delegate tasks both at work and at home. Trusting your team and family members with responsibilities can help you maintain a healthy balance and avoid feeling overwhelmed.
  3. Communicate OpenlyWhether it’s with your team or your family, open communication is key. Let everyone know what your priorities are, and make sure you’re on the same page about expectations. This transparency will help everyone adjust and support each other as you navigate both business and family life.

Final Thoughts

Starting a company is a journey—one that’s deeply personal and incredibly rewarding. If you’re ready to take the leap, I encourage you to embrace the challenges and celebrate the small wins along the way. Learn more about our services or my story for inspiration and insights.

Here’s to your success as you embark on your entrepreneurial adventure!

Kevin King

Kevin King

Kevin King, a graduate of Harvard University with a degree in Philosophy, has been a vital member of our team since 2015. With his diverse knowledge and insatiable curiosity, Kevin tackles a wide range of general questions in his articles, providing thoughtful and well-researched answers. His 15 years of experience as a writer and researcher have equipped him with the skills to break down complex topics and make them accessible to readers.

http://mothersalwaysright.com

Leave a Reply

Your email address will not be published. Required fields are marked *