What does it take to be an entrepreneur?

Let’s ask co-founder Mark Paradies! (Above is a picture of Mark in the early 1990s.)

From his experience, these are the three biggest questions aspiring entrepreneurs need to ask themselves:

💪 Are you willing to put in the work?

In the early days, System Improvements, Inc. was a side hustle!

Mark juggled a 60-plus-hour workweek on top of the preliminary planning for his company, which took up (at least) another 40 hours a week. The company started as a small group of three people, so responsibilities like accounting, marketing, and contracting were done in Mark’s spare time (nights and weekends).

“If you don’t plan to work your butt off, you shouldn’t be an entrepreneur.“

💰 Do you know how to spend your money?

Every new client was hard-fought. In Mark’s eyes, profits were cushions for future surprises before they were opportunities for increased spending. Money doesn’t fall from heaven, so he had to think critically about the potential risk and return on each investment.

“When you’re a small business, you HAVE to understand the value of money.”

🏔️ Can you manage your stress?

Mark once had thirty thousand dollars on his credit card to keep the staff paid!

When the company had only a handful of clients, it temporarily dipped into the red due to slow-paying (>90 days) government work. Mark had to be a collection agent on top of other work. It was stressful, but he knew this was a temporary issue as long as he stayed calm and strategic.

“When I started, I had goals and a 5-year plan. Of course, nothing goes exactly to plan. Sometimes, you REALLY have to be comfortable standing on the edge of the cliff.”

Happy Entrepreneurs Day!

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