As a highly renowned entrepreneur, Edward Parrish Whitaker has found much success as an entrepreneur in the professional business world.
Graduating from Ferrum College with honor and a double business major, his entrepreneurship spirit had pushed him to win the top business student award, which was only the beginning of his success. After graduation, he was hired as a broker by Morgan Stanley and had to manage a task worth over $286 million and naturally ended up accomplishing this feat. For his outstanding efforts, he was the youngest person to win the National Sales Director Award.
It was after five years of working as a broker that he decided to try out his skills in real estate. In 2004, he founded a real estate company, a mortgage company, and vertically integrated an escrow company. He also had a rare foresight where he sold his company in 2007, and not six months later, the mortgage collapsed. In three years, he had successfully managed to maintain business in 50 states with around 55 employees under his efficient leadership.
After spending many years being an entrepreneur, he learned many things along the way, which he hopes to share with young aspiring entrepreneurs so that they might find quick success in their very own business endeavors.
Learning Before Running a Business
Upon entering the professional business world, a widespread mistake that many new entrepreneurs end up making is that they think they need to start up a business first and learn the ropes along the way.
Although you can indeed learn a lot while working on the job, that does not mean you should neglect whatever you can learn before you establish your business. Always do thorough research in your business field so that you can improve your business plan with more detailed information or even new information that can benefit your company in any kind of way.
Never Underestimate Networking
Make sure that you are surrounded by a company of prospering business owners and fellow entrepreneurs. Share stories amongst one another, don’t hesitate to ask any question you might have, and build long-lasting relationships with them.
Having a network of people will help you gain support in times of need. Additionally, you might even come across a time in your business journey where you will want to collaborate with other business partners, and you will need someone you can trust to work with.
Starting Small is a Better Approach
You would be surprised to find out that many potential people in business hesitated from starting their own company simply because they were embarrassed that they would be made fun of if they started their business on a small scale.
However, you need to keep in mind that whenever you work towards any goal in your life, you must always start small and then work your way forward from there. Many successful business leaders started out the same way- pushing past their insecurities and fear and moving forward with a fierce determination will reward you with promising results.