to share:
LMH: Tracey, at what age did you realize that you were destined to become an entrepreneur and how many other jobs had you held before beginning your first business?
TO: I started my trek into entrepreneurialism when I was 18 years old and became an Avon rep.
I had the dream of making thousands of dollars a month just by hanging order books on
peoples’ doors in the neighborhood. Needless to say, I learned pretty quick that it didn’t work
that way…I was my best customer! Lol
I have held multiple jobs in various industries throughout my life, from managing for JoAnne Fabrics to becoming the Vice President for a small accounts receivable finance company.
LMH: Can you share with our readers a bit about companies that you have started and a few of the challenges you had to overcome in adjusting to the learning curve of owning your own business(s)?
TO: Sure…, In 2002 a friend and I had the bright idea to purchase the convenience store across the street from us. This friend was the financier and I was going to run it with my husband and kids.
We went in completely blind, my assistant managing for the fabric store was the extent of my experience in managing, so of course I was completely ill prepared for the running of a gas
station/convenience store. My partner and I assumed the assets from the current owner and took over the lease on the property, all without consulting with an attorney first…NOT the most brilliant idea! The landlord on the property never provided us with a signed contract so when we attempted to obtain branding and a liquor license, we were shot down. Moral of the story…, we ultimately ended up in court and lost right around $100,000 in the entire deal. To make matters worse, I was VERY pregnant with daughter #3!
In 2004, after I had delivered daughter #4; I decided to open an in-home daycare operation. I obtained my license and everything else that was required to begin bringing in clients, but I had no idea at all of how to properly market the business. Like so many new entrepreneurs I had the mindset that all I needed to do was slap up some ads and the clients would come running, WRONG…, so yet again another failed business!Of course there were several other “futile attempts” at successfully starting a business over the years,