Podcast: Play in new window | Download (Duration: 36:48 — 29.6MB) | Embed
Subscribe: Apple Podcasts | Android | Google Podcasts | Stitcher | TuneIn | | More
Owner of a thriving barbershop in Waukesha, Wisconsin, Tim Retic originally started with a business partner in 2008. After buying his partner out, he renamed it Forever Faded.
Tim believes that in order to be an entrepreneur people need to understand a few basic things. “You have to get started. Understand that there are going to be roadblocks and difficulties. Instead of worrying about problems, worry about solutions and have faith, trust in God.”
“Worry about nothing, pray on everything.”
With experience behind him, Tim emphasizes that focusing on the problems leads to more problems, whereas focusing on solutions leads to solutions. Several years ago, he worked on what he thought would be an inexpensive and short remodeling project on his barbershop. In addition to taking months longer than expected, expenses had also gone beyond estimates.
Stick to the Mission – Don’t sweat the small stuff
How do you know what the small stuff is? Tim posits that only in hindsight can we realize what really had impact or was the issue. However, he also highlights the idea that as one gains more experience as an entrepreneur, one can learn to recognize erroneous endeavors and bad paths.
Understanding what you can control
Growing from being a micro-manager to a leader, Tim recognized his own need to have personal change in order to propel his business to flourish. In an endeavor to grow, Tim saw that he would have to take a step back in order to allow his employees to develop within the work space instead of interfering with their personal process of growth and responsibility.
Tim illustrates the process of personal growth through a process he calls “Disruptive Growth”, an experience which involves uncomfortable growth for the reward of change. As a driven businessman, he shares that it is important to find your own path to success.
From his own journey, he advocates that one needs to “Get into the muck” and learn to grow from adversity and difficulties both as an entrepreneur and in one’s personal life.
While it took time to develop, he recognizes the importance of Faith, Family, Fitness and Finance.
Thoughts + Reflecting on those thoughts = Reality
Significantly, Tim believes this is the equation of Reality and that if you’re frustrated with your reality, go back and change your thoughts.
With no doubt in his mind, he promotes success as something that takes experience as well as an understanding of positive momentum within a context of time and place.
He makes mention of understanding market fluctuations and contributions word-of-mouth advertising has for entrepreneurs.
Hobby or Business Entrepreneur
Being the boss or being an employee? Tim illustrates a notable change in both his attitude and his employees’ attitudes towards the work environment. While previously, new customers understood who the boss was because of a more singular “take charge attitude”, he appreciates that now customers are sometimes unsure of who the boss is because his team has elevated their attitudes from “just a hobby” to an entrepreneurial endeavor and money-making business.
The customer is always right? Tim does not necessarily agree but recognizes the importance of supporting and helping his employees as independent contractors. By supporting his employees first and foremost, he empowers his employees to feel confident in the working environment. This places the responsibility for positive customer service with the employees, enabling them to strive for successful customer relationships.
Being the Model Boss
“I had to let go.” Tim believes that being an entrepreneur who continually demonstrates a positive work ethic for his employees, allows his employees to understand and then emulate positive change for growth. By acting as the model employee, Tim enables his employees to see realistic goals that can be achieved consciously or unconsciously. He emphasizes the importance of avoiding stagnation and finding growth.
Guarding against Depression as an Entrepreneur
“Don’t dwell on it. Have a goal. Work on the plan daily.” It is easy to dwell on the past and think about failures in one’s personal life or as an entrepreneur. Tim recommends making a plan and moving forward on a daily basis.
Live in the Moment
By living in the moment, one better focuses on the task at hand. What has worked for Tim has been his focus on positive thoughts. This can improve one’s attitude and success as an entrepreneur.
“Focus on the good, it will come back to you tenfold.”
Tim offers some final advice as an entrepreneur and in life “Do it today. The timing will never be perfect. Act now.”
Additional Information: Visit Forever Faded in Waukesha at 1427 E. Racine Ave.