Business Startup Consultants Detroit MI

Kevin McQuire quit his job in California and moved to Illinois in late 2000 to start a language translation company using $15,000 in savings. With health coverage and other benefits provided by his wife’ job, he saw no need to pay himself more than a modest salary, just above minimum wage.

As sales picked up in the spring of ’2001, the sacrifice seemed to be paying off – then was smacked down by the events of 9/11 and their effects on the economy. The McQuires lived on credit cards, a loan from a relative and lots of ramen noodle dinners.

“That first year was horrible,” says McQuire, president of Chicago-based Atlas Language Services, Inc. “There was nothing to pull from for salaries. We went without paychecks basically for a year.”

Now the business has grown and comfortably provides McQuire’s six-figure income from salary and disbursements, which he says is still below what he could earn in the open market. But he’s happy with his take-home pay, and finds even greater satisfaction in having built a company with an established reputation and repeat clients.

Tighten Your Belt

Success demands hard work, patience and sacrifice. It’s easier to get there when you have an employed spouse, generous investors or a fat savings cushion to get you through the financial stresses during the first years of a new business. But you may well have none of these.

Author: Lori-Anne Miller

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