What qualities would you say entrepreneur possess?
Entrepreneurs must be a little be insane. They have an ability to handle risk and uncertainty. They are persistent in pursuing goals and don’t get derailed easily.
How did you start?
I recognized an opportunity to capitalize on my existing skill sets and make a personal investment as opposed to doing the same work for someone else.
How did you fail?
I was inexperienced and didn’t understand debt and commercial banking. While I learned a lot from the experience, I eventually was forced to close one of my businesses due to a partners bankruptcy.
Advice for someone who works in a CBO?
Never forget that you are an actual business. Your bottom line may not be measured in currency, but you must operate with basic business principles.
Mr. Iest doesn’t have a lot of experience in the CBO world, but I enjoyed talking to him about his varying business ventures and just listening to the various types of business ideas he is constantly looking to pursue. The biggest thing I took away from my discussion with Mr. Iest is that in order to be successful in today’s business world you must be flexible and b