Glenn Edwards - This Is It: If Youre Waiting for a Sign to Start Your Business

Have you been waiting for a sign to branch out as an entrepreneur? Are you sitting on a small business idea, but arent sure if its time to make an initial move or expand your current operation?

This is your sign. And now is the time.

You may still feel hesitantand for good reason. In the decade since the Great Recession, many people without access to a large amount of capital have felt held down by increased banking regulations and stricter access to credit. We are Glenn and Jordan Edwards, a father and son business team, and we understand this frustration. We were only able to open Mixology Clothing Companya New York City - based womens clothing storeten years ago because we did have access to capital outside of the banking system. Today, Mixology has surpassed $10 million in annual sales, and Jordan was recently able to secure our first business loan to open the tenth store. Were proud of the progress weve made during the last decade, and were confident in the economy. Weve recently invested in various other business ventures in security, consumer electronics, water consumption, technology, and hospitalityall of which are outside of our two primary disciplines, commercial real estate investment and management, and omnichannel fashion retail. In addition, we are continuing our efforts to open more Mixology stores.

This book, however, is not about us. It is about you.

As the economy improves, banks are loosening the restrictions that may have once prevented you from moving forward. Funding for your version of Mixologyany small business you want to startmay not have been possible five years ago, but it is today (like it was for Jordan). We want to help by sharing best practices, key lessons, stories of successes and failures, and tools and resources you can use along your journey. We will also include the voices of other entrepreneurs who have been in your shoes so you can read, in their words, how theyve applied these principles along their respective journeys. Youll get a taste of their challenges and their triumphsbecause, as we all know, business comes with a hefty side of both.

As we explore in detail throughout the following pages, opening a business is about much more than finances: its also about grit, resilience, and the commitment to learn and grow along the way. It is a phenomenal time to be an entrepreneur because access to the information you need to get started is more readily available than ever. As technology has grown, so has the democratization of informationa wealth of which is quite literally at your fingertips. You can learn anything, anywhere, at any time.

Thanks to the internet, its also easier to expand your business than ever before. Most of us are walking around with a supercomputer in our pockets. An iPhone has millions of times the computing power they used in the 1960s to get to the moon! When we originally started building our first web business, though, it felt like building a home from scratchand we build businesses, not only houses. If you wanted to create a website back then, the only way to do it was to hire contractors and subcontractors, like what youd need to do if you wanted to pour a foundation or rough in electrical wires.

Today, that foundation is poured for you, and those walls are already there. With resources like Square, Shopify, YouTube, and a host of others well explore in this book, all you need to do is move in and make yourselfand your businessat home and start selling. Plus, theres the availability of step - by - step instruction if you want to dive deeper!

If youre worried about competing with Walmart, Amazon, and the like, dont. Even if you sell through them or a similar large - scale distribution means, theres a huge opportunity to not be them. Why? Its simple: you can build better relationships. Even Sam Walton, the father of Walmart, discussed this concept in his book, Made in America . He mentioned one thing Walmart could never replace is those small business owners who can look into the eyes of their customers, connect with them, and know them.

That small business owner is you. Who, then, are we? Let us introduce ourselves.

Ever since my parents started a housekeeping delivery service out of their one - bedroom apartment in 1955with three children, mind youIve been surrounded by the spirit of entrepreneurship. When I was old enough, my father bought me a suit, gave me the keys to a vehicle, and sent me off to start selling. Our family worked hard and often. That hasnt changed. During my career, I helped turn that tiny business with four employees into a home healthcare conglomerate with multiple business lines, locations across ten states, and over 6,000 employees. When we reached $80 million in revenue, I decided to sell the company.

Then in 2003, I founded Chart Organizationa real estate business named after my mother, Norma Edwards, whose maiden name was Chart. She was the last Chart, so I wanted her name to live on through my business. It has. We have owned and operated more than thirty commercial properties in ten states and continue to grow as a family business today.

The seeds of entrepreneurship that were planted by my parents continue to grow as I lead Chart and help run Mixology. Mixology is yet another seed I get to water, only this time, I get to do it with my son, Jordan, and daughter, Gabrielle. Ill let Jordan tell you that story.

After graduating from Northeastern University in 2008, I began working for a small real estate firm in New York City whenbam!the Great Recession hit. The stock market dropped by 1,000 points in one day, and I found myself out of a job.

My ambition was always to work in the family business with Dad, but I found myself there quicker than Id expected. It was a difficult time to be in business; the entire world seemed paralyzed by fear. Then, my dad invested in Mixologythe full story of which well share later in this bookand everything changed. Today, our business has 130 employees, a robust online presence, ten brick - and - mortar locations, and a first - in - class web business. I never set out to be in the retail business, but sometimes you are presented with an opportunity and you have to jump on it! As we continue to grow, I continue to learnand Im ready to give some of that back. The same principles I use in business mirror my martial arts practice. Ive been practicing Brazilian jiu - jitsu since 2009, and as of writing this book I am a purple belt. I am a student and, in 2017, I became a teacher.

One of my favorite books is Ego Is the Enemy by Ryan Holiday. In the book, he tells a story of legendary MMA fighter Frank Shamrock, who has a system he calls Plus, Minus, Equal. He writes, Each fighter, to become greatneeds to have someone better that they can learn from, someone lesser whom they can teach, and someone equal that they can challenge themselves against. As one reviewer wrote,

By training against someone who is better than us, it purges the ego from thinking we are the best. By training against someone lesser than us, it humbles the ego to think of ourselves as teachers. And by training against someone of equal skill, it reminds us to stay competitive and not become complacent.