The Challenges and Triumphs of Starting a Business

We’re thrilled that Square seller Liz Fiedler, owner of Loving Cup in San Francisco, is featured in USA Today as part of their Small Business Saturday section. Below is her interview with our CEO, Jack Dorsey, where they discuss the challenges and triumphs of running a small business.

Jack Dorsey: What was the biggest barrier to starting a business?

Liz Fiedler: I had no idea what I was doing! I learned as I went, working every shift, every day. My biggest hurdle was bookkeeping.

How did you learn?

Trial and error. I learned from my mistakes and really listened to customer suggestions. Some of our best-selling items were created by employees and customers.

Has the government been supportive and what could they do to help?

I’d love to see lower taxes, especially for small businesses that are just getting started. They seem to give tax breaks to big corporations that have the money to pay more taxes. I don’t know if that’s necessarily fair. Small businesses do a lot for the city, like maintain the sidewalks outside our stores. It would be nice to get something back.

How do you consider your role in the community?

I want to make a product that is good for my customers and the environment. My business is primarily to-go, so I thought a lot about waste. That’s why everything here is compostable.

That’s very cool and real leadership. What advice would you give someone starting a business?

Stick with it. It’s incredibly hard work. You have to do everything, like learn how to replace circuit breakers. Eventually you hit your stride and it’s all worth it.

The Bottom Line is brought to you by a global team of collaborators who believe that anyone should be able to participate and thrive in the economy.


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