Stacy Verbiest, the founder of W!nk CBD, is a serial entrepreneur, who has followed her passions and turned ideas into successful businesses. W!nk is the nation’s first therapeutic cannabis line by women for women. When she joined me on the Badass CEO podcast, I found her advice for young entrepreneurs to be dead on.
Experience is key.
Starting your own business right out of college might work for some, but it?s rare. Start by getting experience. It could be in the industry you envision starting a business in or just any experience. If you don?t know what you want to do, start with sales and marketing because customer acquisition is always the most challenging part of starting a business. It’s also always beneficial to have an accounting or finance background to budget and fundraise properly. Whatever it is, memorize the playbook. Learn the ins and outs of the business and how to add value. Getting experience will help you evolve, expand your network, and maybe find new passions.
You will fail.
It’s important to understand that you will fail, but you need to have the grittiness to start again. There’s no reason you can’t be successful. Sometimes it takes three or four times for an entrepreneur. You have to see what works and what doesn’t work. You will learn invaluable lessons along the way, which will make you a better entrepreneur down the road.
Be willing to reach out.
Interview business owners and talk to them about how they made it, what helped them be successful, what mistakes they made, and what lessons they learned. Then, apply it to your own life and business plan.
Understand that it is going to be a grind.
When you own your own company, you can’t just work a few hours per day. As an entrepreneur, you will work 10-20 hour days, so you need to have goals, be productive, and stay motivated. It’s essential to find ways to unwind and destress because working long hours, raising money, making the right business decisions can all be stressful. Do not feel guilty for putting yourself first. If you do not take care of yourself, your family and your business are not going to get anywhere.
You can find W!nk CBD online atwink-wink.comand follow @loveatfirstwink on Instagram.
Listen to the full episode of The Badass CEO podcast with Stacy Verbiesthere. Don’t forget to rate and review the podcast so others can find us.