For March we are pleased to shine the spotlight on one of our clients. Enjoy these words of wisdom from Rachel Joyce Organic Salon, as they share some valuable lessons they have learned as entrepreneurs.
Rachel Joyce Organic Salon is a full service hair salon in the heart of Washington DC that promotes non-toxic products and healthier living. The four years they’ve been operating have been some of the most exciting and rewarding times for the two co-founders. Because of this, they want to share 3 lessons they’ve learned during their journey of entrepreneurship.
#1 – Humility mitigates loss.
Smart and talented people tend to have confidence in their abilities, which is generally a good thing. What is not a good thing, however, is when confidence oversteps that hard boundary of reality. Humility can’t save you from taking losses, but it can protect you from losing BIG. It helps you to evaluate evidence and change course when you’re losing, as opposed to doubling down on your initial assumptions. A lack of humility is demonstrated when one’s desire to be correct outweighs one’s desire to be solvent. Solvency isn’t always about finances either. We could just as easily be talking about relationships, health, or mindset. In summary, be humble… stay solvent.
#2 – Entrepreneurship can change your mind about finances.
When you are responsible for the success or failure of a business, you start to look at finances in a different way. For example, you learn that there is really no such thing as “disposable” income. Excess income becomes something to be invested, not frivolously spent. You invest in other people, infrastructure, cash for emergencies, and new opportunities for growth. It is rare you meet a successful entrepreneur that doesn’t budget for these things before spending excess cash flow on themselves.
#3 – Entrepreneurship can help you appreciate the little things.
As the founder of a business venture, you’ll tend to have close and ongoing relationships with many more people than you would otherwise. This exposure helps us realize how much we need each other as human beings, and how precious our time is. Each and every person should choose to spend their time doing the things that fill their lives with joy – things like having tea with a friend, taking the time to thank someone for their support, or reading a good book. A new yacht might seem like it belongs on this list, but things can’t substitute for experiences.
Thanks for reading!