How Should She Start This Small Business?

I met a young entrepreneur who saved about $7000 and left her job as a admin assistant making about $10/hr. She told she has a full business plan ready to go and she has some potential commitments from local investors about her new venture.

A few people in her family own bakeries so she wants to start a small shop just selling the goods (not preparing). In addition to desserts and fresh baked good, she wants to have a huge selection of international drip coffees.

I told her that the best advice I would give is to be sure that she has a second option that will bring in steady cash flow because business is not predictable, especially for start ups. I also told her that it is very noble of her to pursue her passion. We spoke more about solidifying her plan. What advice would you give this young entrepreneur?

Let's talk about it!

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