Interested in starting your own entrepreneurial journey but unsure what to expect? Then read up on our interview with Jamie Klingman, Founder of The Klingman Group, located in Tampa, FL, USA.
What's your business, and who are your customers?
The Klingman Group is a woman-led business brokerage helping business owners sell their companies. We are licensed in several states and primarily serve businesses that are owner-operated and sell between $500k and $5 million.
Tell us about yourself
I have been a serial entrepreneur since I realized I was not cut out for medical school. I sold my first company, a home care company. From that experience, I knew that I wanted to help other business owners. No one was talking about how to exit your business. I remember being scared that I would have to run my business for 3 decades before retiring. Not all business owners want/need to keep their businesses forever. Some are starters, some are builders, and some are expanders. I am now motivated daily to ensure all business owners know that they can exit and the steps they can be taking now to ensure that is an option when they are ready. I also am motivated to remove the smoke and mirrors often associated with business brokering so owners understand the process and how their business statistics factor into the valuation.
What's your biggest accomplishment as a business owner?
My biggest accomplishment as a business owner is that I have never received a W2. I have been a serial entrepreneur since I was 21, and now at 41, I am proud that I have sustained myself, my family, and the staff and clients of my businesses. I am also grateful I have been able to mentor and volunteer to ensure I am not alone in success.
What's one of the hardest things that comes with being a business owner?
One of the hardest things that comes with being a business owner is that all of the decision-making and responsibility ultimately falls to us. There is no one up the chain further to hand off, point to, etc. At the same time, that is one of the great parts of being a business owner.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Pick something you're passionate about. You can have a "boring" business but be passionate about the business itself. That will help when things get hard.
- Have a plan for cash flow when starting a business. Whether it's other work, savings, or debt, understand where your money is coming from and where it is going.
- Build your network...but don't just network. It's easy to get caught up in endless networking opportunities. Evaluate each for ROI and prioritize.
Where can people find you and your business?
Website: https://www.theklingmangroup.com
LinkedIn: https://www.linkedin.com/in/jamieklingman/
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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