How I Became a 6-Figure Entrepreneur While Pursuing My Degree
Written by Faith Richardson, ELP student
From the first glimmer of ambition as a child to standing on the precipice of the crypto revolution, entrepreneurship has been my guiding star.
It began simply enough. At 10 years old, my Minecraft servers were not merely playgrounds but bustling marketplaces. These virtual shops, where I traded goods for in-game currency, marked the initial footprints of my entrepreneurial voyage.
My academic years were largely shaped by a burning desire to eventually launch a venture of my own. However, confronting the fear of failure held me back. When I finally took the plunge into the world of business, it was met with challenges I hadn’t foreseen. My early venture faltered due to my lack of understanding of the service I offered and an absence of sales experience. After relentless months of striving, the realization hit: I needed to evolve and learn.
During my sophomore year, the burgeoning world of cryptocurrencies and NFTs caught my attention. While I was a student at the Ross School of Business, the foundational lesson imparted was the significance of value proposition in selling successfully. The meteoric rise of Bitcoin and phenomena like Board Apes intrigued me. The value proposition of digital assets became a riddle I was determined to decipher.
After immersing myself in the crypto universe for nearly 10 months, I felt I had acquired an edge in understanding digital asset marketing. Conversations with crypto enthusiasts and my own forays into the space made me recognize an unexplored niche: offering B2B services to blockchain projects. While the world was chasing meme coins, I founded a marketing agency, building a robust clientele both inside and outside the crypto domain.
Ambitions were high as I dreamt of a post-graduation life powered by my own enterprise. However, the unpredictable landscape of entrepreneurship soon revealed its harsh realities. At the dawn of a new year, almost my entire client base evaporated. Yet, amidst this setback, I faced a crossroad – to bow out or to rebuild stronger. I chose resilience.
Harnessing resources like YouTube, mentors, and insights from successful digital entrepreneurs, I endeavored to structure my business afresh. An invaluable piece of advice from my mentor, John Mannes, prompted me to envision my agency like a factory, segmented into specialized departments. This clarity helped me address bottlenecks, optimize time, and enhance operational efficiency.
One innovative solution was to hire a friend of mine for cold calls, which, over time, streamlined my sales process and increased client acquisition.
Today, as I reflect on this journey, I am on track to achieve an annual six-figure revenue with consistent growth metrics. My path has taught me that the essence of entrepreneurship isn’t in avoiding failures but in embracing challenges and relentlessly pursuing innovation.