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What you know, and what you learn, will spell success
By Ted Albenesius
SCORE Card
Successful small business owners come form all walks of life, all educational backgrounds and all parts of the world.
Some launched their companies to devote themselves full-time to an industry they love, while others sought to free themselves from the uncertainties of working for someone else.
Some use their small businesses to supplement their day job, while others use them as a platform to test innovative ideas.
Regardless of the reason, these entrepreneurs made a point of learning everything they could that would be relevant to operate a successful business.
Since most fledgling small businesses require some capital financing at the outset, these entrepreneurs explored the pros and cons of various financing options. They learned the facts and figures that lenders expect to see as part of the business plan and loan application, and what factors are most critical in evaluating the soundness of the proposal.
These entrepreneurs also gathered information about themselves, their dreams, capabilities and talents, as well as the areas in which they need to learn more.
For example, one frequently cited reason for the failure of a small business is a lack of management experience. So many aspiring entrepreneurs include management courses and counseling as part of the groundwork for their proposed venture.
They also closely scrutinize their personal work habits. Running a business is far different than working for somebody else, even if that position has autonomy or has management responsibilities. Experienced entrepreneurs know there is no such thing as a typical 40-hour workweek.
One place to turn to is your local chapter of SCORE.
SCORE is a nonprofit organization of more than 11,000 volunteer business counselors who donate their time and talents to assist entrepreneurs to start, grow and operate small businesses. All counseling is free and confidential.
Amanda Schroedi and her partner Zach Barretti first called on SCORE in June 2005 when they were preparing to open Strawberry Blonde, a hair salon. At SCORE, they met counselor Manny Mello.
Over the next year, the partners met with Mello more than 10 times, refining a detailed business plan that led to securing a satisfactory home equity loan. Last month, the pair launched Strawberry Blonde, located at 27 Magnolia Road in West Ashley. They can be reached at 722-7611 or strawberryblondesalon@msn.com.
They selected the location just off Savannah Highway after exploring several sites in West Ashley.
The biggest influence on their decision was the numbers of new businesses in the area that seemed to be attracting a high volume of retail customers.
They noted that the newly renovated Triangle Char and Bar Restaurant, located across the street from Strawberry Blonde, is enjoying a brisk business in a building that was previously a service station.
Sublime honors
Another SCORE business was in the news last month, when Sublime Pies and Cakes took home two first-place ribbons from the National Pie Championships in Orlando, Fla.
The Avondale-based bakery, specializing in all things key lime, won the key lime pie category and took home open honors for its key lime cheesecake at the annual contest, which is sponsored by the American Pie Council.
Sublime was featured in the Dec. 12, 2005, issue of the Charleston Regional Business Journal, detailing the help SCORE provided to this award-winning business.
Sublime Pies and Cakes is owned and operated by Tamlyn Willard and is located at 829 Savannah Highway. In addition to the business’ storefront, it also has a booth at the Charleston Farmers’ Market at Marion Square on Saturdays.
If you are planning to start your own business or if you currently own and operate a small business, visit our local SCORE office at 2750 Speissegger Drive in North Charleston. Office hours are 10 a.m. to 2 p.m. weekdays. You can also visit our Web site at www.score285.org.
Ted Albenesius is a retired Charleston businessman and past chairman of the local SCORE chapter.
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