Mike CernovichVerified account

This was helpful, like support group session. I chose a business I really enjoy, otherwise I couldn’t do it. Marketing is expensive & exhausting. Sucks to give freebies to make a profit. But I will never give up being an entrepreneur bc it’s very rewarding.

Once you do the investment (hard work, time, money etc.) to prove something works (paving the road) competitors will swoop in to "copy" it. Even if you have established your brand/name, it is crazy how people will "adopt" it; some to destroy your reputation. Endless expenses!

Nice studio!

#@

It’s not easy. So much risk, so much sweat and hard work. Hoping to turn a profit after years of hard work, which often ends up in a failed business and mountains of debt. I have 2 failed businesses and one doing relatively well now, but the future is not guaranteed.

I currently owe about $100k to past investors and credit card debt. It’s awful and I tell people I’m either brave or stupid. Not sure which.

Failure rate of food service is around 90% within 5 years. I’m in that boat.

Responsibility is magnified when you have a team of people working with you. I’m responsible for a team of 8, most of whom have families. That puts more gas on the fire of responsiblity.