Interested in starting your own entrepreneurial journey in financial services but unsure what to expect? Then read up on our interview with Dana Spencer, Founder of Just In Time 4 502, located in Louisville, KY, USA.

What's your business, and who are your customers?

I help Single Moms to get started investing in real estate so that they are able to add a 2nd stream of passive income to their budget without having to take time away from their families. Working Single Moms are my primary audience.

Tell us about yourself

Being a Single Mom is tough in and of itself. Having one source of income tends to complicate things even more. I've always worked two jobs in order to keep the lights on as well as fund my sons education in a private Christian school. When you are Single, you don't want to take time away from your family in order to have a side hustle. Or leave your children home alone. That's why it was important to me to find a way to make money while my son was with me. I'd heard that retirement was a number, not an age and found this to be intriguing. Therefore, I position myself to reduce my expenses to allow my passive income to pay for my daily living expenses. I want to educate Single Moms to understand how having just one property can help their monthly budget.

What's your biggest accomplishment as a business owner?

Having the mindset to believe in myself regardless of what happens in my biggest accomplishment. So many people have a limiting belief that keeps them stuck working a job that frustrates them instead of taking a leap of faith and trusting that God will take care of them.

What's one of the hardest things that comes with being a business owner?

We want to be in business for ourselves but not by ourselves. The hardest part is not having a team of people in the beginning. Obviously, I will grow to the point of needing a team, but in the beginning, you have to make opportunities to stay connected with people. We need people and we need one another.

What are the top tips you'd give to anyone looking to start, run and grow a business today?

  1. Be patient! Success doesn't happen overnight. I think we have this false belief that the first video that we post of our business will go viral and the money will just start pouring in. It doesn't happen that way for most people.
  2. Don't quit your 9 - 5 until you are making enough income to pay your bills. You want to be producing a good amount of income before you turn in your resignation.
  3. Understand your strengths and then hire someone that is opposite of you to grow your business. If you're a people person, you might not be a strategy person. Therefore your primary need would be to hire someone that is not like you to fill in the gap. Typically we want to work with our friends and people who are just like us, but this probably isn't the best decision for our business.

Where can people find you and your business?

Website: https://www.coachdanaspencer.com/
Facebook: https://www.facebook.com/dana.spencer.9
LinkedIn: https://www.linkedin.com/in/dana-spencer-226405202/

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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