“Save and plan. Evaluate your finances and save what you will need to reasonably live your life, and plan for little profit during those first formidable years. That’s not to say your business won’t have revenue (or perhaps it won’t), but either way understanding and appreciating that most, if not all, incoming cash should go directly back into growing your business is a reality all young entrepreneurs must face. As a business owner your company’s health is your first priority, your personal bank account is your last. When you put your all into your startup, you tend to see these realities as less of a sacrifice and more of a necessity. So save what you can, because ultimately you’ll want to put whatever profit you make back into the company.”

Matt Fiedler​, CEO and co-founder of Vinyl Me, Please

Matt Fielder graduated from Belmont University in 2011 with a dual degree in Music Business and Entrepreneurship. After working a number of jobs in the tech and music industry from 2011-2014, Matt quit his day-job to run Vinyl Me, Please full time in July of 2014. He talked to his spouse, put in his two-weeks notice (benefiting from a payout of unused vacation days) and started his venture.

Matt’s wishes he had a checklist before he leapt to working full time on Vinyl Me, Please. His guidance: understand the risk you’re taking and ask yourself what’s the worst that could happen. The worst could just be having to get another job in a few months.

Matt’s words of advice – be prepared to roll-up your sleeves and make sacrifices! In the early days of Vinyl Me, Please, Matt (by necessity) needed to do everything on a shoestring budget. With no excess funds to use, Matt focused on growth of the company’s bottom-line.