Latham: I think if it is something you really want to do, go for it, but, it has got to be something you really want.
Waters: If you want to open your own business to become rich, you are going in with the wrong mentality. You have to have a plan or a goal at the beginning. Those plans and goals will change, of course, but you have to have a firm foundation for your business.
I think that if you are going to have employees involved, you have got to take care of them, more than yourself even.
I would also tell them to enjoy the goals that you accomplish; even if it’s celebrating that you made it through the first month of business.
And last, but not least, when it comes to starting your own business, you need to go out and develop relationships. Develop relationships with customers, suppliers, and people in town. I think it is important to let people know what kind of person you are and what kind of business you operate.