How One Entrepreneur, Before 30 with $1,000 Saved, Started Two Multi-Million Dollar Businesses - Chiko Abengowe - Finances Demystified Podcast

How One Entrepreneur, Before 30 with $1,000 Saved, Started Two Multi-Million Dollar Businesses – Chiko Abengowe

Summary
Have you ever got that moment where you  want to quit your job and be an entrepreneur?  Chiko Abengowe, a millennial millionaire give in to that moment and quit his job at the age 26 with a thousand dollar savings to start his multi-million dollar companies, Perfect Staffing and Perfect Office.

In this episode, Chiko will share his experiences on how he got started, what were his past struggles as a thriving entrepreneur and how the decision to start a business early made the biggest difference in his life.  

Resources
Key Takeaways
  • When it comes to entrepreneurship, you just gotta make a decision to start and have your mind wrapped around it and it gets figured out.
  • Leading at that point, I’m trying to get my finances together at a time. Taking steps to reduce my monthly expenses and creating other revenues outside of my job.
  • It was tough on the very beginning because of limited funds. I have to move back to my parents and cut back on  a lot of different things. And, even though in the beginning my business is growing on a little bit fast, I still did not pay myself that much.
  • On hitting your goal on the first year of business: It was being on the phone. The office space is very important and just make phone calls, sales calls and getting out there and trying to get something happen.
  • The pressure and being against off the wall as a entrepreneur will help you find ways to figure things out.
  • Going back is not an option.
  • If you want to be great get your finances right, get out of a job and get started learning.
  • It’s funny, once you made the decisions to move forward a whole bunch of life roadblocks come up.
  • The reason we ramp up very very fast is got our cost very very low, office space played a big part on that.
  • Entrepreneurs get hold back because of the cost of entrepreneurship.
  • I decided to break the market, make it more affordable and a little more flexible but at the same time professional.
  • As an entrepreneur you are always working on something.
  • Just start. You will be surprised how time flies if you start now you can put yourself in a whole other arena in 1-2-3-4 from now. You just got to start and figure it out.
  • You have to move in a type of mindset that anything is possible.

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