Nikonomics - The Economics of Small Business 89 - Quit Your Job, Buy a Business: Advice for Aspiring Entrepreneurs with Yvette Owo
Nov 27, 2024
Yvette Owo, founder of YOLO Accounting, shares her inspiring journey from consulting for Fortune 500 companies to launching a successful accounting firm. She discusses the challenges of acquiring and scaling businesses, and the importance of having a solid business structure. Yvette reveals how financial insights can drive entrepreneurial success and the mindset shifts necessary for growth. Her whimsical childhood stories highlight a lifelong passion for entrepreneurship, showcasing the blend of personal experiences and professional lessons that fueled her success.
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Early Entrepreneurial Ventures
- Yvette Owo's entrepreneurial spirit emerged early, starting five businesses at age 10, including a lemonade stand and homemade cookies.
- She even wrote a contract for her parents when they borrowed her earnings, demonstrating her business acumen from a young age.
Path to Entrepreneurship
- Yvette Owo realized she could achieve her financial goals in her corporate career, but it wouldn't fulfill her.
- A conversation with an entrepreneur made her question why she was an employee, ultimately prompting her to quit her job.
The Breaking Point
- Yvette Owo's decision to quit wasn't triggered by a specific event, but rather a gradual buildup of factors.
- This included side hustles, a car accident impacting her health, and observing the lack of autonomy even at high corporate levels.