Interested in starting your own entrepreneurial journey but unsure what to expect? Then read up on our interview with Jordan Goldmeier, Excel Automation Consultant of Anarchy Data, located in Brooklyn, NY, USA.
What's your business, and who are your customers?
I'm on a mission to empower 100 solopreneurs in the data space to leave their full-time jobs and start their own companies to make the most of their skills and themselves.
Tell us about yourself
I've always had a side business of some sort in my life. When I was 8, I sold bead bracelets and pencils at camp. When I was 15, I went to an Orioles game where everyone got a free Cal Ripken Jr Bobblehead doll. Everyone else opened theirs and played with them. I sold mine in mint condition on eBay for $80. I've had business ideas come and go through the years. I am always motivated by waking up and solving problems.
That being said, it will help if you figure out what you really love to do. Though some of my business ideas in the past had moderate personal and financial success, I didn't stick with them because I didn't love the topic. Still, I took the lessons from these experiences to build what I have today.
What's your biggest accomplishment as a business owner?
I started my business in NYC in 2018. After being there for four years, I decided it was time to see a larger part of the world. So I decided to become a digital nomad and move to Lisbon, Portugal.
What's one of the hardest things that come with being a business owner?
The sheer amount of failures and mistakes you're going to make along the way. The first few years - especially the first year - can be really hard. It's true that many entrepreneurs talk about embracing failure. And, of course, they're right about this. But the stories they tell are often more cultivated drama than what actually happened.
This is to say, the imagination of most new entrepreneurs is to avoid specific failures they've seen others make. But in truth, they will stumble into their own set of mistakes they didn't even know to look for. The sheer volume of mistakes you will make cannot be understated. Consider it important training - you will learn how to roll with the punches.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Momentum is the name of the game. Warren Buffet credits his riches to the power of compounding interest. In the same way, it doesn't matter if you improve 100%, 1%, or .001% a day. What matters is the compounding effect of pushing the ball forward every extra second you can spare. Eventually, what you create will have enough momentum that even you won't be able to slow it down.
- You must manage your finances. Finance is the single most overlooked aspect of business for new entrepreneurs. It's a funny thing to watch entrepreneurs do mental gymnastics to excuse their lack of financial management: "I'm more creative," "I'm bad at math," "that stuff is really boring," "when I've had more sales I'll take a look." There's an attitude that you'll figure out later. Most businesses don't make it to their 3rd year, let alone past year 1. Why is that? Because they run out of money. Solid finances de-risk your business. It ensures your future. And it gets you to grow much more quickly than ignoring it.
- Get a business coach. For years, I was anti-coach. And they all warned me: if I wanted to learn the hard, slow way, I could, but most people wouldn't make it. And they were partially right: I made it, but not unscathed. Now I work with multiple coaches, and in hindsight, I wish I had started working with one on day one. I guess I just thought every coach was a scam. I was wrong.
Where can people find you and your business?
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
Turn your craft into recurring revenue with Subkit. Start your subscription offering in minutes and supercharge it with growth levers. Get early access here.