I don't enjoy chasing receivables. However, I do my own books, as it keeps me in close touch with my cash flow. And as we all know, small businesses run on cash.
* What's the worst advice you've been given with regard to building or operating your business? How about the best advice?
Worst advice - save up approximately one year of salary before starting a business. Two reasons why I believe this: 1) You'll never start a business. Who can save that kind of money in today's world? 2) It's good to be hungry. You work harder at developing your business.
Best advice - do what you love and the money will follow. I really believe this to be true. If you do what you really love, you'll be good at it. Second, you'll enjoy it. Work won't seem like work. It will be endlessly fascinating. I love what I do. I really would do it for free. Some of it (like my blog) I really do for free.
* What challenges have you overcome during your endeavor? Please describe something that impacted you financially or intellectually and how you got past it.
Lots of challenges - sometimes paying the bills, sometimes having too much to do, sometimes lack of self-confidence, sometimes having my intellectual property passed off as someone else's. I met them all by staying positive, focusing on what I can do, and then going ahead and doing it.
I am a relentlessly positive person. When things go bad, I remember one of my favorite quotes from Dr. Norman Vincent Peale - "It's always too early to quit." Being in business for yourself and by yourself can be tough at times. But I've found that by working hard and believing in myself, I can overcome any challenge that comes my way.
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