By Ryan Velez
Striking out on your own in the world of business is a big risk, as any one obstacle can result in several other issues when it comes to running things. It can be losing staff, a freak accident, or something else, but how you manage to both prepare and react can determine the ability of your business to rebound. One of the best ways to get ready for handling this issue is learning from the issues others have overcome. Black Enterprise has recently partnered with Hiscox, a company specializing in small business insurance. Together, they are profiling three prominent entrepreneurs who managed to overcome “impossible” odds to propel them to their current level of success.
First is public speaker, author, and financial coach Ash Cash, who we have written about in the past. One thing you may not realize is that this wealth expert at one point was “working too hard for money” in his own words. In fact, this mentality almost cost him his home, forcing him to go through a foreclosure. However, as he puts it, the key to being “financially free” is not constantly chasing money, but finding ways to make money work for you. For him, this means putting together multiple streams of income. This led to writing e-books and getting into real estate. Now, he takes his lesson and shares it with others, using his platform to change the mindsets of others about money.
Next is Ramon Ray, entrepreneur, public speaker, and founder of Smart Hustle Magazine. He recalls opening three companies, writing books, all while holding down a job at the United Nations early in his career. However, there was still an issue. “How do I launch, how do I be a full-time entrepreneur business owner?” he would often ask himself. For Ray, this obstacle was a fear of failure. He was finally forced to confront his fears head-on when the United Nations fired him, leaving his side job as his only job. By conquering his fear of failure, Ray said he was able to “start”, allowing his businesses to blossom.
Last on the list is Avery Watson, a public relations expert and founder of the Multi-Artistry Entertainment Group. Watson’s business actually grew out of an obstacle. “Creating a business with three or four other people wasn’t right for me,” she explains. Watson had to learn that her vision was her own, and by looking within herself, he was able to make her vision a reality. By using entrepreneurship, she was actually able to discover her passion for management and public relations.