David Lekach of Dream Water drew gasps at a Startup Florida event presented by the University of Miami's Launch Pad this week when he said he hasn't paid himself for two years. So far he has put it everything back into the business.
How is that even possible, someone in the audience asks. Lekach, who has a child and another on the way, said he had a good-paying job before launching his company (which sells a 5-ounce all-natural shot to help you sleep -- the anti-Red Bull) in 2009 and he had saved up. He also admitted it's not for everyone -- and it's easier when you are single. "You have to have a very supportive friends and family network, not just financially, you HAVE to have their buy-in," he says. (Photo provided by The Launch Pad)
He also said while it may sound corny it can't be about the money. Entrepreneurship is too difficult, too many ups and downs for that. "It's a life, but when you make an impact on people's lives, that's really cool."
While Dream Water is in thousands of stores nationwide, including locally at CVS, Walgreens, convenience stores and airports, LeKach says he hasn't made it until Dream Water is a brand, and it's not there yet. He and his team are pushing on, and 2012 sales are looking good, he says. "We don't rest so you can sleep."
Business owners, how long did you go without a salary when you launched your business? And everyone else, are you willing to go to such lengths?