From running nail salons to a bakery to a law firm, these young entrepreneurs got an early start in making their way in the business world.
Margo Siegel, 26
Margo Siegel Public Relations, Beverly Hills, a PR firm for jewelry and accessories companies
What led you to start your own company?
I wanted to have a specific niche, so I decided to focus on jewelry – something I have always been passionate about. Plus, I figured I was young enough to take a risk on myself.
Where did you get the startup money?
I had some money saved from previous work, but there really wasn’t much cost to starting up. I essentially started the business the day I signed my first client. So I used that money to operate, and the more clients I signed, the more I expanded the operation.
What was the biggest challenge?
All of the responsibility rests solely on your shoulders. There’s no excuse for sick days or delegating stressful situations to others. It’s up to me to make sure everything works.
How many hours a day do you put in?
Twenty-four! Fourteen of them are at a computer screen, but the rest of the time I’m thinking about work or talking about work.
Does your youth lead to awkward situations, such as when you supervise older workers?
No, it’s better than supervising toddlers.
Will you start another company?
Not likely. One is plenty.
What do you do to relax?
You’d think I’d do something that isn’t work related. But my first client, Melinda Maria, just had a baby. I have a tendency to drop what I’m doing and hang out with them when I need a break.
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