I had always thought that the word “entrepreneur” sounded so glamorous. The truth is that you are “it”, from key decision maker and strategist to garlic peeler. When people ask me what my position is in my company I laugh - I’m the CEO and the cleaner.
If you decide to start your own business without your finances completely sorted and you can’t afford staff, you are in for a difficult time trying to do everything. Even if you have a business plan that maps out incomings and outgoings, there is always that extra marketing opportunity that you don’t want to miss, or that packaging that you had to buy etc... spend, spend spend. I left my job early on in the planning of the business to throw myself fully into the project - maybe I should’ve been more patient and kept my salary for a bit longer.
Having said that, somebody said to me at the very beginning of my business journey that I should just go for it and borrow £100k from the bank. Thank goodness I didn’t do that. Yes, life would’ve been so much easier, I'd have a budget for machinery and packaging, maybe one or two part-time staff and a salary, but I wouldn’t have known how to spend it as well as I do now. Now, I have proved a concept, I understand which things worked or didn’t work and I know exactly what I need to do next. The only small detail missing is the cash itself.
So, this week has been about focusing on raising finances and boosting my sales. I'm looking after my key customers and revising my business plan so it reflects what I know now to allow me to get to the next stage. I’m off to the bank today and, hopefully, the bank manager will like it and believe that I can make it work. Hopefully I will be able to raise the finances and afford to pay a member of staff and the machinery I need. Feeling positive. I’m not superstitious.
You can find out more about Marcela on the new interactive business website www.inafishbowl.com