Advice to New Business

In reflecting upon the merits of running her own business, Mo admits that she puts in many hours but she enjoys not having to answer to anyone. "There were many times in the beginning that I had to fire my paycheck back into the company just to keep it going. But now there are times when there are benefits for me."
One big lesson that Mo learned the hard way is that it is best to avoid having a business partner. "My piece of advice for anybody that wants to start a business is, ‘If you can, do it on your own.’ My first partner and I were really good friends before we went into business together."
Mo has purchased an existing business and has started a new business. She says, "I think the best challenge is starting a business up from scratch. You have to have confidence in your idea, which you get if you think about it for a long time. A lot of people get an idea and they jump on the idea rather than waiting a while and thinking it out. If I was going to start a business, I would probably think about the area and think about what was lacking in the area rather than doing something that somebody else was doing already. There’s always more of a challenge to do something that you feel is a benefit or would be a good thing to have in the town."
She has had tough times in her business. "I figure the fire probably put me back two years. But it is worth hanging in there. I had to go with the loan officer from the bank a month ago and point out my properties to her. That outing reminded me of what I do have."

Summary and Conclusions

Moira Grant has persevered through a number of major and minor setbacks, from her business being completely destroyed by fire to the breakup of several partnerships. She has made Inuvik her home and enjoys the challenge and the lifestyle that she earns from operating her own businesses. She sets goals for herself, such as purchasing property or coming up with an idea for a new product or service, and she puts in hard work to accomplish her goals.
Mac’s News has an established reputation and provides one-of-a-kind services and product lines to the community. Same-day service for newspapers is provided by air express, and a considerable variety of magazines are available. Fresh-cut flowers are available, and a selection of gifts is popular with tourists and local residents.
Mo’s other businesses are Road’s End Deli and Midnight Express Tours. These businesses introduced a new service in Inuvik. The investment in the deli began as a partnership, but soon Mo will be the sole owner, once she completes a buy-out. Midnight Express Tours provides an outlet for Mo to enjoy her boating hobby and earn money at the same time.
The major problem is staffing her businesses. Mo finds that her more successful employees come from the south and are hard working. She finds it difficult to delegate any of her responsibilities to her employees because she considers herself a worker and not a manager. The success she has earned through her businesses is a result of her hard work, perseverance, and personal service for her customers.