Interested in starting your own entrepreneurial journey but unsure what to expect? Then read up on our interview with Michael Shuman, Publisher of Main Street Journal, located in Cathedral City, CA, USA.
What's your business, and who are your customers?
The Main Street Journal is my flagship project to promote local investing worldwide--effectively to move trillions of dollars from Wall Street to Main Street. We have 8,000 subscribers and will soon supplement the bi-weekly publication with another bi-weekly called the Small Street Journal, which will list available local investment offerings.
Tell us about yourself
This is the latest of several dozen projects I've launched since graduating from Stanford Law School in 1982. For the last thirty years, my focus has been on local economies, local businesses, and local investment. I've written ten books and more than 100 articles and have given invited talks weekly worldwide on these subjects. For income, I teach at Bard's Green MBA Program, perform economic analyses for a consultancy called Council Fire, and launch periodic businesses like the Main Street Journal.
What's your biggest accomplishment as a business owner?
My biggest accomplishment has not been as a business owner but as a supporter of business owners. An article I wrote for the Federal Reserve in 2008 helped launch a movement for investment crowdfunding that culminated in the passage of the JOBS Act of 2012. As of today, 6,000 small businesses have raised nearly $2 billion through the JOBS Act.
What's one of the hardest things that come with being a business owner?
For me, the hardest thing is that my work is always with me. Even now, as many friends and colleagues enter retirement, I can't conceive of slowing down. When you do what you love and are paid well for it, why would you stop?
What are the top tips you'd give to anyone looking to start, run and grow a business today?
Start small to prove your product and market. Borrow as little as possible until you're confident in your business model. When you are confident, use investment crowdfunding from your fans to underwrite your business.
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.
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