06 Sep 076 Financial Excellence: Starting a Business in a Bad Economy
Episode 76: Starting a Business in a Bad Economy: Sept. 6, 2011.
Today I welcome Justin and Angela Kannich, owners of Kannich Motorsports to the show to talk about their journey in taking a part time business to full time in the face of a bad economy. They were met with lots of criticism and naysayers along the way as Justin gave up his stable job to follow his dream of helping motorcycle riders and racers find parts and accessories at lower prices. The Kannichs are a good definition of weird by today’s standards: they have challenged the norm and taken their future into their own hands to create their own economy and define the life they want to live.
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- Justin quit his steady and stable job to work full time on his business. He was met with a tremendous lack of support by friends and family, who all thought he should stay at the job he didn’t like.
- Justin’s wife Angela was the biggest supporter of following his dreams. She even took on a part time job to allow him to quit his job and work on the business.
- Slowly but surely, Justin and Angela are building their business by keeping overhead low, focusing on cash flow, and building relationships with Racers, gear distributors, forum administrators, and other motorcycle enthusiasts. Most importantly, they build relationships with their customers.
- They are ok with building their business more slowly to avoid taking on debt. How cool is that?
- I thought it was very interesting that both Justin and Angela reported feeling healthier and more balanced after making the switch. They have less stress, more balance in their lives, and are more physically active.
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