Interested in starting your own entrepreneurial journey in business development but unsure what to expect? Then read up on our interview with Sharrin Fuller, founder, and CEO of Glass Wallet Ventures, located in Las Vegas, NV, USA.
What's your business, and who are your customers?
Glass Wallet Ventures is a community and coaching business that we are currently in the process of launching. Glass Wallet will be about teaching other business owners in the professional services industry how to Scale to Sell their business without wanting to throw away their hard work. I have successfully built, scaled, and sold my first company and learned a lot throughout that process and really want to share it with others, so they are able to achieve the success they deserve.
Building a business literally requires blood, sweat, and tears, and so many owners walk away from their empires because they don't have the support or structure in place for a successful exit strategy. This is where I come in. I will teach owners how to utilize technology in their business, what processes and structures they need, and any due diligence required before speaking with an investor. I will walk them through the entire buying process of their business, what to expect, and how to get the most out of their business. Through my community, business owners will be able to lean on each other while learning through exclusive webinars and guides.
Tell us about yourself
In 2006 I was an operations manager for a cold storage facility, and the owner decided to sell. We had about ten office space renters in the building, and I had a close relationship with most. They were coming to me asking where I was going to go and expressed how much they wished they could hire me full-time but only had maybe a few hours a week. I realized that between all of them, I had a 40-hour job, so I started my first company, A Simple Office Solution. I started out in office management and bookkeeping. See a need, fill a need! I like identifying the pain points that business owners have and helping to solve that. Just because you made/produced a great product/service does not mean that you are good at or even want to run a business. That is where I come in. I help you to create processes and efficiencies that allow you to focus on your product/service and scale.
What's your biggest accomplishment as a business owner?
The relationships I have built. I have clients and members of my team that have followed me through my journey and are still with me today. The fact that they have followed me wherever I have gone tells me that I am doing something right. No matter how successful I may become and regardless of the difficulties I may face, knowing that my team is there with me means everything.
What's one of the hardest things that comes with being a business owner?
Along with the relationships and my team comes the hardest part (for me), and that is letting someone go. I take it personally. Employing someone is not a small feat. You are essentially asking that person to trust you with their livelihood. The success of my business is imperative for my team to be able to care for and support their families. When someone on the team is not working out, even if it is a justified termination, it makes me ill. I will give people more chances than I should, mainly because I see the best in people, and I want them to see it, too, and perform at that level. That is not everyone's goal, though, and being a very driven person, it feels like a failure on my part when I cannot get someone to perform the way I need them to.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Know your product. Really know it. Be the best at it. If you have a ton of ideas, that is ok, but pick one or two and grow from there.
- Try to run your business for as long as you can without employees. Outsource what you can. You should really be hands-on until it almost kills you. This allows you to work out all the kinks and define the process before you hire someone. Once you hire your first employee, you are in a whole different ballpark.
- Be able to thrive in stress. If you cannot handle stress and need complete stability, owning a business is not for you. You will have extreme ups and downs. You will be on the eve of not making payroll, and a huge contract will come in. It can be rough, but it can be extremely rewarding. Owning a business is for adrenaline junkies!
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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