Interested in starting your own entrepreneurial journey in finance but unsure what to expect? Then read up on our interview with Doc Severson, Co-Founder of Ready Set Trade, located in Greenville, SC, USA.
What's your business, and who are your customers?
I provide a stock market advisory service where I show members how to analyze the market, place and manage trades, and in general, help them create a professional approach to trading.
Tell us about yourself
I had been trading the market on my own in the 1990s but decided to commit to it in 2004 after taking a seminar. I worked at learning it harder than I had worked on anything in my life to that point, and 18 months later, I put in my notice at my then-current job and started trading for a living. What I found was that working from home and trading the market every day was pretty isolating after being in a social office environment, and I found that others wanted to know how I had made the jump to trading solo. It was a natural fit for me to start providing coaching and advisory services to individual retail investors, and I love being able to help people make the jump.
What's your biggest accomplishment as a business owner?
Staying in business during difficult times. The 2008 Great Financial Crisis hit within two years of me going solo, and I had to bear down and adapt my methods to make it through.
What's one of the hardest things that comes with being a business owner?
I find that it's really rare to be able to find others that have the same values and goals as you over time, differences are exposed, and you move on. I have literally "worn out" several partners along the way because I refuse to quit.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Talk to people. Find out what problems are out there that you can help solve. Businesses are created to solve others' problems.
- Create a mix of recurring revenue/subscription services and non-recurring revenue one-time products. People are wary of signing up for subscriptions thanks to Sirius XM and Comcast, but they will always consider buying a one-time purchase to see if you can help them.
- Narrow your field of focus down and try to be really good at one thing. Specialize.
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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