Several years ago, a colleague and I were having lunch. She shared news that she was quitting her boring job and starting a business. Because she enjoyed making muffins, she was opening a muffin shop where she’d serve coffee and muffins from 6:00 am to 2:00 pm and then enjoy the rest of the day off.
Carla (not her real name) borrowed funds to design and equip her little shop.
Rising at 4:00 am to bake the muffins and make coffee was fun for about 2 weeks, but soon Carla became weary of the early morning rush and preparation to open the doors at 6:00 am. Customers straggled in, and she barely made enough to pay the first month’s rent. The remaining expenses came out of borrowed money and savings. Read more