(Dawn Nyen, Courtesy of Dawn Nyen)
A co-worker recently suggested that I reach out to a customer who has an interesting history with entrepreneurship.
My conversation with Dawn Nyen developed into our most recent Success Story. And just in case you don’t venture over to that page on our website, I’ll share one of her lessons learned in this blog post, but trust me the interview is worth the few minutes it takes to read.
Dawn’s path to becoming a FedEx Ground Contractor started in a hotel ballroom. She answered a local newspaper ad instructing people to attend a local recruiting meeting about owning a business. Dawn and her sister were the “last ones standing” in the room. Then, her sister dropped out leaving Dawn standing all alone.
A lot of entrepreneurs thrive on going it solo. Dawn, not so much.
One of Dawn’s many strengths is being unafraid to ask for help when necessary. Seeking help is not a weakness. In fact, it's just the opposite. The key is knowing when and what to ask.
Dawn’s also not the first entrepreneur who lost her willpower to keep fighting the good fight, nor will she be the last. The difference is that she decided to ask for directions before it was too late.
She’s the only woman AO in her terminal. Maybe that's not so uncommon, but it differentiates her from the other local AO's. It made her feel alone. She knew it shouldn't be that way, but didn't think she could ask for their advice.
A cliché (from the days before people carried GPS devices on their smart phones) was that men were too proud, or stubborn, to ask for directions. Women, on the other hand, were too smart to keep driving around in circles.
When Dawn was fed up with with feeling lost and wanted to sell her business, she “stopped by” eTruck to ask our advice about how much her business was worth. Needless to say, she liked our advice and it wasn't too late.
Why Do Some Contractors Fail While Others Grow?
According to the latest information on small business failure rate published by the U.S. Bureau of Labor Statistics, roughly 66% of small businesses fail within 10 years. Dawn started her business in 2005 so the odds were stacked against her in 2020, but Dawn views entrepreneurship as her path to retirement.
An overwhelming majority – 99.9% or 30.2 million – of businesses in the United States fall into the small business category. Small business is defined as “less than 500 employees” by the U.S. Small Business Administration.
Chances are that yours, too, is a small business. How do you beat the odds?
If your goal is to retire on your own terms, maybe asking for help isn't a bad idea. Are there better ways to spend less money? Can you grow your business with less effort?
If you want to profit like Dawn, eTruck can help. It’s what we do.