Interested in starting your own entrepreneurial journey in business development but unsure what to expect? Then read up on our interview with Adrienne Ostroff, Founder of Athena Actuarial Consulting, located in Minneapolis, MN, USA.
What's your business, and who are your customers?
We are a woman-owned consulting firm specializing in mitigating risk through actuarial and analytical methods with a people-first approach. Our customers are government agencies and commercial companies that sponsor health, retirement, and other benefits for their employees or beneficiaries.
Tell us about yourself
I started Athena in 2020 with the goal of proving that consulting is more effective when our people are put at the center. We strive to deliver innovative solutions to the challenges that our clients face in designing and administering benefits for their people. The amazing team who has joined Athena over the past two years is what motivates me each day. When people gather together, driven each day by a human-centered mission, it's amazing to see what they can achieve.
What's your biggest accomplishment as a business owner?
Business ownership has been the greatest thrill and biggest challenge of my career. I consider my biggest accomplishment just getting to our 2nd anniversary with my head above water. I am so confident that I am in the right place, surrounded by the right people, and working in the right direction. There have been some incredibly hard moments over the last two years so just getting to this point feels huge.
What's one of the hardest things that come with being a business owner?
Business ownership is a true roller coaster. The hardest part is that it is your job to make your employees feel safe, supported, and empowered. That can sometimes mean shielding them from the tough times created by cash flow management, performance management, and even contract negotiations. In those moments, it can be lonely to experience alone, which is why it is critical to surround yourself with supportive friends, family, mentors, and advisors to lift you up when times get tough.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Find mentors that have built something similar to what you want to build - set up monthly touchpoints with them and bring an agenda of times you want their input.
- Always plan for the worst-case scenario but reach for the best case - you never want to have a situation where you don't have enough cash to make payroll, but if you focus too much on all the ways that things can go wrong, you'll miss all that is going right.
- Be clear on your mission and let that drive all decisions - business plans are great, but there is no possible way you could plan for all that will come at you. If you use your mission as your guardrail, you'll be able to wade through the unexpected, no matter what comes to you.
Where can people find you and your business?
Website: https://www.athenaactuarial.com/
LinkedIn: https://www.linkedin.com/in/adrienne-ostroff-fsa-ea-cera-93857868/
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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