Fox Business Network’s Charles Payne has a new show called “Making Money with Charles Payne” and in it, the feature “American Success Stories” celebrating small business owners across America. Among the Connecticut businesses featured on the show that airs at 6 p.m. Monday through Friday, are a costume shop in Plainville, a shop in Meriden whose owner breaks in baseball gloves and another in Brookfield where a teenager creates custom drink coasters. Payne, who was raised in Harlem by a single mother, began working hard at an early age to achieve his own American Dream. He shared some opinions and some advice about launching your own business as he “Spilled the Beans” with Java.
Q: What’s the idea behind the series segment on your “Making Money With Charles Payne?
A: So many people have faded away from owning a home and/or investing. One of the things that has bothered me is that people are staying away from the old American dream. That’s what the show segment is about. There are people who are doing their dreams.
Q: What has surprised you most as you hear the stories about their small business success?
A: The enthusiasm of the entrepreneurs is what surprises me. The economy is rebounding a bit and nowhere near what it used to be. The segment illustrates how people are taking extraordinary measures to be successful.
Q: I know you are featuring some CT businesses in the segment. Any favorites?
A: I like it when young people get into the business fray. There is a young man in Brookfield named Ryan Rist who started his business doing coasters with $500 from a Kickstarter campaign. And there is 62-year-old David Katz whose business involves breaking in baseball gloves. There is a whole swathe of places around this country that are under-represented when it comes to financial news. Years ago everyone thought you had to go to the big cities for business stories. That’s not necessarily true anymore.
Q: You had some pretty realistic beginnings in the business world. What did you learn and what do you want to teach others?
A: I guess one of the more important things is to have unrealistic dreams, and to keep you head down and keep pushing. You’ve got to take the body blows and can’t get discouraged. I see a lot of young people that when it doesn’t go their way they are calling out sick and sulking. Things don’t always happen in the time frame we think they should.
Q: Do you have any advice to those who are considering going to work for themselves? Is there a secret to success?
A: The secret is a commitment and be prepared to make a commitment that could hurt a lot of areas of your life. It may supersede your kids, your marriage and your health. My biggest regret is not spending more time with my oldest daughter when I was getting started and I wish I could have magically cloned myself. The upside to working hard to succeed is that my family had heat and hot water every time they turned on the shower.
Q: Are there professional trends now that future entrepreneurs should be eyeing if they are looking to start something on their own?
A: As far as trends, technology and everything associated with technology is hot. Things are changing when it comes to how we live. But on a completely opposite note, if you have passion and you don’t know anything about technology, don’t open a technology company. But if you brew great craft beers in your bathtub, they you have a heck of a lot better chance going with that as a business.