During an economic crisis, how many people would voluntarily resign from a lucrative position with a Wall Street firm to face a virtual unknown future? Craig Spivey is one of those risk takers turned success stories. The son of a single mother, Spivey grew up in Jamaica, Queens and was well prepared for personal success at a very early age. His mother, recognizing the importance of education for African Americans, enrolled him in private schools. She eventually sent away him to schools to make sure that he received the best education possible.
Spivey’s education paid off. After graduating from Brown University and Howard Business School, he spent 17 years trading bonds on Wall Street. Despite the success enjoyed by few minorities working on Wall Street, he was still not on what he considered to be the fast track for promotion. A long commute and stress were every day realities that Spivey experienced while enjoying the perks and benefits of working for a prestigious company on Wall Street.
With the beginning of discontent, and the longing for a more satisfying future, Spivey decided to step out on faith, and resigned from his position. He knew that he wanted to do something else with his life, but what would it be? After taking some time to recoup from years of working for others, Spivey sprang into action.
Working with a business broker, he went through the process of discovering what path he wanted to take. Today, Spivey owns his own Liquid Capital franchise, a business that provides interim financing to small business owners by purchasing their creditworthy account receivables. This business, known as factoring, is worth an estimated trillion dollars per year worldwide.
Now, when Spivey reflects back on his decision to become an entrepreneur, his first thought is that he wished he had taken the risk earlier. “The excitement generated by each day is exhilarating,” exclaims Spivey, “The opportunity to network and make connections is paramount to success. While owning a business is a lot of work, at the end of the day you’re much more in control.”
As for looking into his future? “I have no idea what the future holds.” said Spivey, “I’ll keep working hard and who knows what opportunities may come up.” Having left Wall Street has opened Spivey’s eyes to a whole new side of the business world. Taking the ultimate risk and quitting his job has given him a whole new outlook. Sometimes risks are necessary to get where you truly want and need to be in life. “I only wish I had taken the plunge years ago,” Spivey concluded.