I wrote a piece for YoungEntrepreneur.com, and it was published earlier this week. Check it out:
Whether it’s long hours, late nights or surviving off just the most basic of staples — we’ve all heard the stories of startup founders working toward Ramen profitability. Although these tales are popular, and sometimes even glamorized, are they a necessity for anyone looking to start up?
I don’t think so. After all, I’m an entrepreneur. My startup is less than a year old. Yet, I live in a good-sized apartment in a nice area of Toronto. I have an iPhone, a couple of computers and an iPad. I have patio furniture and I host dinner parties. I rarely buy groceries, choosing instead to eat out or on the go. Recently, I made a five-digit investment in fellow entrepreneur Katherine Hague’s startup, ShopLocket. And despite the fact that university cost me $100,000, I’ve been financially independent (and debt-free) since I moved out at 18.
Is it luck? Partially. But most of it comes down to being financially savvy. Here are three tips to help you pursue entrepreneurship without having to resort to Ramen: