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Food entrepreneur: What I do and how much I make

Video transcript

hi my name is Peter Egan I'm 31 years old I'm the owner of AG standard almonds and I earn $36,000 per year AG standard almonds is a small manufacturing company I wear a lot of hats I am the lead roaster I'm the head accountant I'm number one salesman I had the marketing department I worked the packaging line i I do sales calls I'm the one working the tradeshow booth just about everything that goes on on the dishwasher to any pretty much everything that goes on in this company I have something to do with I'm the owner of the company and in in my eyes a good owner is involved in a lot of in all of the processes it started incredibly small scale it started with roasting 3 pounds of almonds in a friend of Mines backyard and putting it in a package and taking it to see if if anybody liked it or anybody wanted it the feedback was great it's had its ups and downs but the overall feedback people liked it they think it tastes good they think the packaging looks nice so we made one the next week we made 10 and the week after that we made a hundred and then when you can go somewhere and try and hand out a hundred things and they're gone in less than an hour I decided to make more of them and that was the start my annual salary is $36,000 a year salary is very interesting topic for a for a business owner because my goal is to have the lowest salary possible in in the early days every dollar that stays in the business is incredibly valuable it's it's how do you build from 1 to 2 how do you build from 2 to 4 and the more that stays in the more opportunity there is for growth and the more growth the more opportunities longer term the opportunity to have a larger salary is the potential is very high if the business is successful in the early stages the most the most important part of taking a salary is mitigating the risk and the less money that is getting pulled out for my own personal use that that's eliminating some risk the skills and traits that help enable success in an in a role like mine number one the willingness to work hard none of this happens without hard work and anybody who is working toward a goal will tell you it doesn't just happen by accident you don't stumble upon it one day it's a it's a conscious effort to wake up in the morning decide what you're gonna do and then do that and if it works great you build on it and if it doesn't try something different and iterate and change change what you want to do until you find what that success is one of the biggest mistakes that I made was making too much inventory too fast well I've gotten a lot better at balancing what's coming in versus what's going out and keeping those more even when you have a series of incremental successes and you're feeling really good it's really easy to go in and be like okay let's you know I'm ready to go full speed let's start making as much as possible without making sure that all the other aspects lined up
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