Grand Tiki
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Your best business plan is not to use debt to *start* a business.
Most business failures are the result of spending other people's money
too freely before you have a good understanding of what you really
need to do to make it work.
By the time you learn the ropes, you're buried in "EZ" payments.
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*** Top Secret fact of Shaved Ice #1:
"Ideas are a dime a dozen, implementation is the hard part."
Everybody has had a million-dollar idea (or two) in their lifetime,
most people aren't willing to invest the blood, sweat, and tears (or
take the financial risks) needed to bring them to fruition.
*** Top Secret fact of Shaved Ice #2:
"Chance favors those prepared to receive it's gifts."
It only took me three years of research and saving money to open up
my first stand and become an "overnight success." Only God knows
how much was the result of skill vs. luck, but I know if we hadn't
had a door to knock on, Opportunity would never have stoped by.
*** Top Secret fact of Shaved Ice #3:
"Money in the window doesn't equal money in my pocket."
The profit margin is very high in Shaved Ice, but there are still
significant costs that must be paid. Once you expand to where you
need employees, the profit margin starts falling quickly. Each
level you take it up lowers your margins, but (hopefully) increases
your gross -- the goal is to make the net go up faster than the
headaches do.
*** Top Secret fact of Shaved Ice #4:
"Being in ANY business means sometimes you have to do things you
don't want to do, when you don't want to do them."
Example: Last July 4th, while everyone else was getting drunk,
eating barbeque, and enjoying fireworks, my wife and I were
shoveling ice as fast as possible because none of our teenage
employees "were available" that night. Yeah, we made a ton of
money, but I would have liked to see the fireworks with my kids
too.
*** Top Secret fact of Shaved Ice #5:
"Being an owner is much, much different than being an employee."
It is not all fun, games and rolling around naked in huge piles of
money. There are lifestyle compromises you make, risks you take,
and (hopefully) benefits you receive for your extra efforts. You
don't punch out at the end of the work day and forget about work --
you always have the business to worry about, even when there's
nothing to worry about.
In reality, you don't own the business, often the business owns you.