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Theresa McPhillamey, 24 Karat Salon & Spa

When Theresa McPhillamey’s position with a global cosmetic company was cut due to restructuring, her dreams of working through to early retirement at age 55 were dashed. What seemed like an utter disaster at the time, however, actually led to a lifestyle more suited to her talents and priorities.

“I had become accustomed to a rather rich existence during my employment, but that lifestyle didn’t come without high expectations from my employers,” says McPhillamey. “I was getting worn down from constant travel and often thought of how wealthy I would have become if I had put all my effort into developing my own business.”

With her job gone, McPhillamey had no reason to ignore the opportunity fate offered her. She took the skills she had developed in the workforce, considered what type of business best suited her, and put together a business plan. One year later she opened 24 Karat Salon & Spa, offering hair and esthetic services in Summerland.

“My life has changed for the better in all ways. Now I am home, and my relationship with my grandchildren has blossomed. I have learned to trust myself, and my confidence in being able to make good decisions has grown. I truly enjoy being able to set my own schedule,” beams McPhillamey.

It is almost as if her world has come full circle. McPhillamey grew up on a farm with her self-employed father supporting their family. Now she has combined her entrepreneurial spirit with her career experience and life skills to build her own business. “We are always accountable for our decisions, but I really enjoy being first and foremost accountable to myself for the decisions I make. I really look forward to taking things to the next level.”

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