Kristin Cavallari's Advice to Startup Entrepreneurs: 'Go For It, But Be Honest With Yourself'
Entrepreneur's New Year’s Guide
Kristin Cavallari is a best-selling author, TV personality and CEO and founder of Uncommon James, a Nashville-based jewelry and apparel brand. She is no stranger to the risk-taking and the hard work it takes to find success. When asked if now was a good time for startup entrepreneurs to take a chance on a new endeavor, she didn't hesitate to answer: "You should go for it!"
"Fear is the biggest thing that stands in everybody's way," Cavallari says, adding, "but I think there is a way to go for it and also be smart."
She believes the first thing you need to have an honest conversation with yourself. Do you truly have the time, passion and tolerance for pain that launching a startup requires? "Because if you don't, being an entrepreneur will eat you alive," Cavallari says. "This is not a 9-to-5 job. It is very, very difficult and so you have to be willing to put in the hours, go above and beyond, and give it your all."
Her second big piece of advice: be careful with your cash. "You shouldn't put all of your eggs in one basket," she says. "You can't just throw all of your money into a startup — you have to have a safety net."
But if your heart and funding are in the right place? "Once you make up your mind, go for it," says Cavallari. "Don't let anybody or anything stop you."
Presented by Mastercard. Learn how Mastercard is helping bring local businesses into the digital economy at Mastercard.us/digitaldoors.