In an article published by CNN, Jerry Nevins explains how he opened his own frozen cocktails bar, Snow & Co. He explains that him and his three partners thought of the idea, but were having trouble with the initial investment. Despite their great idea to open a frozen cocktail bar serving drinks using “homemade syrups, fresh ingredients and premium spirits”, the business loan they applied for was denied.
In finance his part of the business, he used equity from his house, along with credit cards, and his 401(k). While this was extremely risky, Nevins seems to stay optimistic about the business. He explained that it “did better this year than it did last year”. No matter how crazy an idea may seem, it may be worth investing in. By putting that much on the line for the business, Nevins must have come up with a solid business plan to make it work.
If you want to learn more, read the article http://money.cnn.com/gallery/smallbusiness/2013/06/12/entrepreneur-sacrifice/index.html