Written in partnership with CeleMedia
Photo Credit: Chris Jenkins
Financial management is a critical skill for anyone who wants to become a successful entrepreneur. Successful money management is an important long-term habit that you must acquire to grow your business effectively. eCommerce expert and founder of Giovvani, Chris Jenkins, shares how important saving has been throughout his journey.
Saving – A trait developed since childhood
Chris grew up in a small town between Manchester and Liverpool in the United Kingdom. He related that he had a very normal upbringing with his parents. His dad was an engineering manager at a factory near Manchester, and his mother a mobile hairdresser. One vital habit that Chris learned early in life from his parents was the importance of saving. “We regularly holidayed abroad, and our family used to save money throughout the year so we could enjoy multiple holidays each year.”
Save as much as possible
Saving has become an important key to success for the successful eCommerce entrepreneur and founder of Giovvani. One important tip he shares with other entrepreneurs is to save as much as possible.
“Save as much money as possible no matter what you’re earning until your investments give you the money you need without actually work for it.” This is passive income.
“I see a lot of young guys get into the eCommerce space, and they go from zero to hero in terms of income and ego as they’re usually straight out of college/university. Typically for this type of person, their income is high, but their net worth is low.”
Saving and investing will help entrepreneurs through difficult times and periods of a lull during their journey. “Whilst spending feels good in the short-term, you are bound to have some challenging months at some point. If you have zero saved, you’ll likely be returning to that 9-5 job much quicker than the entrepreneurs who accumulated their earnings and are ready to invest in the next business opportunity.”
Saving for challenges – The birth of Giovvani
This habit of saving allowed him to branch out to start his luxury shoe line Giovvani when he identified a change in the dropshipping marketplace.
“Since the beginning of my entrepreneurial journey, the eCommerce landscape has changed significantly. It seems a lot more competition has joined the market, and whilst there’s still a huge opportunity, there’s a lot of beginners now giving the dropshipping marketplace a bad name, and consequently, we see advertising platforms such as Facebook and Google be less inclined to allow the same type of marketing.”
In 2020, after realizing this change started to affect the business negatively, Chris decided it was important that he focus on building something long-term. Hence Giovvani was born.
“During my travels, I needed some casual trainers but found it incredibly difficult to get anything which wasn’t covered in excessive designs and branding. I believe that for Giovvani, we’re able to offer a product which is of a very high standard. The branding of the product gives every customer a true feel of luxury, aesthetically and physically.”
Each Giovvani shoe is handmade with custom-designed and manufactured soles. The grip of the sole is made of unique, comfortable leather that customers have described as versatile. The shoes were designed to allow the colorways to be blended with different outfits adding the finishing touch to a designer wardrobe.
Chris has achieved financial freedom by engaging in various business ventures over the years and encourages entrepreneurs who want to achieve success to increase their savings. “No matter what your income is, you don’t have the right to spend like a millionaire.”
