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Why I Became An Entrepreneur

It should go without saying but I don’t ever want to assume. I did not always have this entrepreneur mindset. I know you see my journey and it looks as if entrepreneurship was embedded in me from childhood — IT WASN’T!! I was a teacher and graduate student with hopes of just making ends meet. Nothing too “crazy”. However, I was never truly happy with the cards I had and was always shuffling (changing jobs, careers, ideas).

In 2018, I attempted to purchase my first home in South Florida and was approved for a whopping $75,000. I was shocked! At the time, I was making about $45,000/year with a $500 car note, no credit cards, and over $70k in student loans. If you know anything about South Florida, you can’t even buy a shack in Miami for that price so I was hurt. I looked high and low and could not find anything within that price frame so my home ownership dreams were cut short. If I had the mindset I have now, I would’ve bought something in another city or state and used that as an investment property to eventually get what I really wanted.

In the summer of 2019, my Florida teaching certificate expired and I was jobless. Being jobless is not something I worried about because (1) I had a few months’ expenses saved and (2) I always have a job so I figured it was something temporary. 

Before I knew it, six months went by. All my savings were gone, all my credit cards were maxed out, I had absolutely no money coming in, I was sinking into a deep depression, I was fighting to finish my master’s program, and I still could not get a job. Yall, it was sad. I was sad.

Then an opportunity came about for me to get a job with a significant pay cut at the end of the year and my mind started racing. My thought was, you did everything that society told you to do. You went to college, you got basic jobs, you saved, and you still got the short end of the stick. At that point, I knew that I needed multiple streams of income. It didn’t matter how much I had saved because there was nothing coming in to replace it when it was used. 

That is how LOLA MGMT was born. The first business I launched under that name was a social media management and virtual assistant business in summer 2019. However, because I was so stressed and depressed with everything that was going on in my life, I didn’t give it the energy and mindset it needed to flourish until the beginning of 2020. At that point, I made the executive decision to no longer save and invest all the money I make.

I know what you are thinking — NO SAVINGS!!! Yes, no savings but you have to understand where I was coming from. I had the whole 3-6 months’ expenses saved and it wasn’t enough to keep me afloat. Now that I was making less money and didn’t even have much to save, I figured I would just invest it in business.

It started with me investing in a business coach. I think I spent about $2,000 on a business coach and though it sounds like a lot of money, I was determined to NEVER have another year like 2019 ever again. I made bi-weekly payments for that coaching and I didn’t really like it. I learned really quickly that her coaching style didn’t match my learning style AND business needs but I appreciate the experience because I learned a few things. The biggest takeaway was learning how not to be afraid to make big investments in me. 

And since then, I have done some amazing things. None of the things I have done has completely and consistently replaced my teaching salary but the fact that it has even generated any money is what keeps me going. To see an idea come to life AND make money is mindblowing to me. I have learned so much on this journey from how to take risks, not being afraid to look and sound silly/crazy, building a team, separating finances, bookkeeping, like so much. 

I still don’t know if I have found the thing that makes me excited to wake up in the morning that I am willing to do for free. However, I will say that being the boss is something I love and I am excited to see what else is in store. As always, thank you for joining me on this journey and I leave you with this inspirational video.

Until Next Time, 

LOLA THE MANAGER

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