Main Street Financing: New Approaches, New Solutions
By Mitch Jacobs
Igot my start working with Main Street businesses as a junior in college. For the next 15 years, I continued to work alongside small business owners to help them use and better understand how technology can streamline their day-to-day operations. During that time, I came to realize how difficult it was for them to access capital. Many profitable businesses – the popular pizza joint, the trustworthy auto repair shop, even the family grocery store – couldn’t secure a loan. And these were businesses with lines out the door and a steady cash flow. It wasn’t because their business wasn’t strong, but rather the traditional lenders they were seeking money from lacked an efficient way to judge them – so, they judged them based on their consumer credit score. It was a clear this represented a tremendous problem for Main Street small businesses, and ultimately the economy at large.
The basic obstacle facing both the business owners and banks was the time involved in applying for and underwriting a small business loan. If we could eliminate the time and cost required of the business owners who were too busy to apply for a loan, and the bankers who could not economically justify underwriting small loans, we could for the first time create a financial system that
would efficiently deliver capital to Main Street. We launched On Deck in 2006 to solve this problem once and for all using technology.
Our platform focuses on the true health of a business – and not the personal credit score of the owner – allowing financial institutions to see a healthy business where historically they were unable to. By looking at businesses in this way, we have successfully removed the time and cost typically associated with this process. And as a result, we have been able to provide $130 million to Main Street businesses.
Any business owner who has looked for financing knows how difficult and frustrating the process can be. Fortunately, new solutions and approaches have created practical alternatives for business owners. Whether you’ve attempted to secure financing in the past, or this is your first attempt, taking a new approach or using a new solution is a step in the right direction.
New Solutions: there are some brand new solutions available that are designed to provide resources and access to financing for small
Mitch Jacobs
businesses that have traditionally been overlooked. To start with, I’d like to explain how the On Deck team delivers capital fast:
• On Deck (www.ondeckapital.com) – On Deck allows Main Street business owners to create free profiles of their business and connect it to electronic data sources (such as online banking, etc.). Using technology, On Deck then analyzes the information and is able to deliver loan approvals in as fast as two business days, and funding in as fast as seven business days. The On Deck platform provides loans to restaurants, retailers and other service providers ranging from $5,000 - $150,000 and 6 – 18 month terms.
• CDFI’s (Community Development Financial Institutions) – these organizations assist business owners navigate the lending landscape, providing insights about the process and direct connections to capital. CDFI’s are offering new tools and resources for businesses in their communities. For example, Accion Texas (acciontexas.org) allows business owners in Texas and Louisiana to apply for loans directly online. To find a CDFI in your area, a simple Google search with “CDFI + your town” will help you find someone nearby.
New Approaches To Existing Solutions for Capital
– technology has helped put a new approach to traditional lending options. While still built upon the conventional lending system, these resources create both efficiencies and reduce costs. The upside: it’s a better, faster and cheaper way to access capital. The downside: these lenders typically rely on traditional lending models that are historically difficult for many small businesses.
• Matching Services – Sites such as Lendio (Lendio.com) and Biz2Credit (biz2credit.com) match business borrowers with lenders. You can register with these sites, and your profile and lending request will be shown to hundreds of lenders on their system who may be interested in funding your request. Borrowers can get in front of significant numbers of lenders very quickly, a key benefit when expediency is key.
• Social Lending – Social lending connects borrowers with individuals or groups of people willing to lend at an agreed upon rate, without using traditional banking as an intermediary. Sites such as Lending Club (lendingclub.com) and
If one in every three microbusinesses in the United States hired one additional employee, this country would be at full employment.
Prosper (prosper. com) provide a forum for business owners to go online and apply for loans ranging from $1k-$35k. Individuals or interested groups can then view your credit profile, learn how you plan to use the money and if they are interested, group together with others to fund your request. In other words, a $10k loan for your business could actually be funded by 100 individuals putting up $100 each.
Mentors: A Tried and True Resource –
Seeking the counsel and advice from experts in your field will never become obsolete. There are some helpful online resources that match up seasoned business experts, who can provide insights into financing and running your business, with new businesses.
• MicroMentor.org – an organization with 2,920 mentoring relationships under its belt, and powered by over 2,600 volunteers who are dedicated to helping small business owners succeed.
• Other resources include SCORE (score.org), small business development centers (http:// www.asbdc-us.org/) and targeted resources, such as Count Me In (http://makemineamillion. org/) and Veterans (vetbiz.com)
As many small business owners know, the world of financing can often be frustrating. However, the tools I’ve outlined above are changing the way small business are able to grow by evening the lending playing field and increasing transparency. As MOSO Nation and On Deck learned at AEO’s 20th National Microenterprise Conference this year, if one in every three microbusinesses in the United States hired one additional employee, this country would be at full employment. I hope these resources can help MOSO Nation readers, as well as small businesses everywhere, achieve their goals and serve as a vehicle for job creation.
“All the men in my family are entrepreneurs,” said Julien Tumma. “And my mother was a great woman who always reminded me to get and save my own money.”
1. MONIQuE WILSON 2. ANDREA kEMp
RON WITHERSpOON
CAROLINE pETTERS
MATT CRANDALL
Why does main street matter?
It’s Your Business &
Mine
As a micro business owner, I’ve discovered quite a few things on my journey; micro and solo business “OWNERS” are a force to be reckoned with. I stress “owner” because without the passion of individual owners, we wouldn’t have very many businesses to count in the “micro business” data that is being aggregated across our nation. And just so you know, “micro and very small businesses (typically less than 5 employees or solo) represent more than 80% of all businesses in the U.S. That’s what I’m talking about! MOSO Nation (MOSO MAG, FuelYourAspirations-Radio, and MOSOTRIBE.COM Blog site) is ALL ABOUT fueling the aspirations of the individuals running these businesses day in, day out.
JuST SO yOu kNOW, “Micro” and very small business represent more than 80% of all businesses in the U.S.
I knew several years into running my own business that we “collectively” mattered. Just didn’t know just how much. I was new, un-educated about running any type of business, but had a dream of business ownership that would not be deferred. Armed with passion and hope, I set out to become (whatever that is). How would I do it? Where would I go? Who would be that help (mentor) along the way? Fortunately for me, my first real gig running a business was consulting for a micro development organization (MDO) in Atlanta, GA called The EDGE Connection.
Fueling my aspirations was an understatement in this environment, it was literal combustion! Without the tireless work of MDO’s across our nation (too many to name here), many micro, solo and Main Street business owners would find themselves without clear direction about micro financing, operations and strategy. And no doubt there is an untapped segment of microenterprises that don’t even have a clue that these valuable
resources are available to them. We’ve got to change that.
At the 2011 AEO Conference, it was all about micro, solo, and Main Street business. I mean the halls were buzzing with discussion about policy, programs, and financing options that could be created to affect the dynamics of our success in running our businesses.
In this special edition issue you’ll learn how Main Street business owner, Julien Tumma (Private Chauffer Club, NYC) kept his business alive with a much needed infusion of capital (page11); hear how Chris Saint’s, Sweet Treats is doing their part in effecting our economy by creating more jobs (page16); meet a woman living her passion one photograph and short film at a time (page17). If that’s not enough, fuel your aspirations when you read about Bernardo Figueroa of Lalo’s grocery move from sidewalk to storefront (page14).
A special thank you goes out to our issue sponsor this quarter, On Deck. One of the great things about being MOSO (micro-owner, solo-owner) is the opportunity to collaborate; we intend to do more of it and you should too. There is always more to share, and I hope that you will help me tell your story in our very unique and unencumbered way. After all, Main Street matters; it’s your business and mine. Fuel Your Aspirations and Read on!
by Ron Witherspoon, Photographer
A native San Franciscan, Ron has been working as a photographer for over 30 years. He was a U.S. Army Photojournalist who traveled North Africa, South America and throughout the United States creating images and writing stories about American servicemen. As a freelance photographer Ron has traveled as far as South Africa on photography assignments. He holds a B.A. from San Francisco State University, and a Masters in Fine Art from Georgia State University in Atlanta. Ron lives between San Francisco and Atlanta and travels throughout the United States creating imagery and art for clients.
www.RonWitherspoonPhotography.com www.facebook.com/ronwitherspoonphotography www.twitter.com/ronwitherspoon7
by Nikita Mitchell
The Catalyst Initiative: Unlocking the Power of One in Three
If one in three microbusinesses in the united States hired an additional employee, the uS would be at full employment.
In order to unlock the power of One in Three, AEO has launched the Catalyst Initiative, a suite of programs and partnerships designed to unlock the potential of low-wealth entrepreneurs by strengthening the capacity and reach of the non-profits that serve them.
In order to create a space to unleash the power of One in Three, the Catalyst Initiative programs and partnerships are focused on four primary objectives:
1. Enabling better decisionmaking and resource allocation: AEO has joined forces with Bankers without Borders™, the volunteer arm of The Grameen Foundation, to deploy their pro bono consulting teams in the United States. These skilled volunteers will be able to provide non-profit executives decision support in a range of areas. We are also partnering with national law firms to channel pro bono legal support to our members.
2. Channeling funds to invest in capacity and growth: AEO and the Nonprofit Finance Fund are working on the design and development of an investment vehicle to provide much needed funds to support capacity-building and change where needed.
3. Scaling services and products that work and developing new ones: AEO members represent both fertile testing ground for innovation and sources of insight into market needs. Our reach and relationships provide us with the opportunity to change the economics of scale by replicating proven programs without sacrificing local control and creating “toolkits” to promote innovation and experimentation.
4. Rationalizing the policy framework: AEO is joining forces with other advocacy organizations
under the umbrella of One in Three. Our aim is to create a policy framework that aligns incentives and promotes wealth and job creation through self-employment.
Reaching underserved businesses and aspiring business owners is not about the size of any single organization but rather impact and total coverage from the ecosystem of organizations and resources available nationally, regionally or locally.
There isn’t a simple answer or a one-size-fits-all approach. There is much more that needs to be addressed. It’s about enabling thoughtful and deliberate resource allocation decisions. It’s about investing in building capacity for the activities that drive impact. Lastly, it’s about connecting people, ideas, and organizations quickly and effectively.
MICRO MATTERS!
by Nikita Mitchell
The AEO500: Telling the Story of One in Three
The AEO500 enables microenterprise development organizations to promote the most successful clients and businesses in their networks. Business owners can also visit the AEO website to create their profile and be connected to customers and services to help their businesses grow. By aggregating the success stories of hundreds of organizations around the country, the AEO500 demonstrates that Main Street businesses are an important part of Start-Up America and the fabric of entrepreneurship in this country.
Through the AEO500, business owners will have the opportunity to:
1. Create a profile that allows business promotion to the hundreds of daily visitors to AEO’s website
2. Connect with new customers in their communities and around the country to help their businesses thrive
3. Discover resources in their communities for capital and other services
4. Take advantage of additional opportunities as the AEO500 grows
By getting the entrepreneurs in their networks involved in the AEO500, business support organizations will have the opportunity to:
To learn more about the AEO500 and how your organization or business can get involved, visit www.aeoworks.org.
1. Promote services and illustrate impact in communities and beyond
2. Drive traffic to websites via clients profiles, likely attracting new clients seeking support as they launch and grow their businesses
3. View reports and analyze data on how clients compare to similar businesses around the country
4. Participate in services that will connect business owners to the resources they need in their communities
5. Benefit from future collaborations and partnerships that will serve organizations as well as the businesses that they work with
This initiative is ultimately about sharing the success of Main Street entrepreneurs and the community organizations that are critical to that success. We want to share the stories of Main Street businesses and communicate the collective impact of the sector by illustrating the work being done with microenterprises across the country.
Julien Tumma: Mogul in the making
When Julien Tumma wasn’t steering his way toward a life as a successful entrepreneur, he was at least a passenger on the road to operating his own business. As the owner of New York City-based Private Chauffer Club, Julien says the unwavering work ethic steering his business started at home.
“All the men in my family are entrepreneurs,” Julien notes. “(And) my mother was a great woman who always reminded (me) to get (and) save my own money.”
Julien’s path to build Private Chauffer Club into a highlyregarded company that now caters to both corporate and private clients in more than 550 cities around the world was not paved for him. In fact, he admits that, when it comes to entrepreneurial success among those in his peer group, “the system is not designed for us to win.”
HOMEgROWN HOpE
Still, the ideals of independent success rooted in Julien’s
“The
system is not designed for us to win.”
family tree helped keep the businessman grounded as his chauffeuring career started to take off. Motivated by the need to support his son, Julien dressed for success, working a less-than-desirable route, and risking a dangerous road to achieve his driving dreams.
“My business was in the ‘hood,’ but people were working in corporate America,” he said. “I put on a suit and started accepting credit cards to handle the demands of potential corporate clients,” Julien recalls.
Still, one battle was set in front of Julien, keeping him from
taking Private Chauffer Club to the next level; the ability to obtain the funds necessary to grow his business. Unable to secure funds from traditional lending agencies, Julien remembers a feeling of defeat and misunderstanding after meeting with lenders turning down his requests.
“They don’t know what we have to go through to be here,” he said.
MAgIC IN FLIgHT
As demands to expand his business increased, a mid-air interaction during a flight to Los Angeles would prove to be just the chance meeting Julien was
When Julien Tumma was met with obstacle after obstacle as he attempted to find the capital he needed to grow his business, one company was willing to take on his requests. On Deck Capital is a New York-based lending agency that specializes in giving loans to budding entrepreneurs like Julien, giving small businesses momentum, and the extra surge of support they need for positive growth.
Learn more at: www.ondeckcapital.com
looking for. During his flight, Julien met a representative of On Deck Capital, a New York-based lending institution that specializes in loans to small businesses.
While the company didn’t offer Julien “hundreds of thousands of dollars,” he says they did give him a micro loanand his business a boost. Despite his fears of not being able to meet terms of a repayment plan, Julien took the loan- and soon after, was able to take another. Today, Julien describes On Deck as “just the help he was looking for.”
More than five years later, Julien’s ambition has propelled
Private Chauffer Club into “base license” status, meaning his company meets the basic criteria of operating a minimum of 10 cars. (“We’ve got that!” Julien says.)
And his industrious, hardworking roots continue to pay off, keeping him grounded despite a full work schedule. A typical day for Tumma often begins at 6 a.m., when he checks any messages he may have received from clients, though he admits “If people need to talk to me at 2 a.m., I’m going to answer my phone.”
The growth of Private Chauffer Club also led Julien to hire team members to alleviate his stress- and avoid his temptation to soak up
ABOuT pRIvATE CHAuFFEuR CLuB
Based in New York City, Private Chauffeur Club caters to clients in New York, Indianapolis, Atlanta, Los Angeles, Miami, Chicago and 550 other cities around the world. The company’s founder, Julien Tumma, credits his success to his hardworking roots and ability to build clientele, staff and credit steadily and surely.
Learn more at: www.privatechauffeurclub.com
“For the last three years I’ve been able to slow it down and really think about my health, eating right and switching it up by running from stress,” Julien admits. “Now I just tell my staff to handle situations I would normally handle personally. I delegate more. I’ve learned to let go for my health’s sake.”
gOINg STRONg, gIvINg BACk
Still, Julien finds time for the really important parts of succeeding in business- giving back. A participant in the Steve Harvey Mentoring Program, he recently spent Father’s Day week with a group of underprivileged youth lacking positive male role models. He’s also taken disadvantaged students to the prom of their lifetime in style, providing a car, clothes and salon makeovers. And when grieving
“They don’t know what we have to go through to be here.”
families find themselves without vehicles to attend their loved one’s funeral service, Julien is at the ready, his fleet of vehicles ready to transport. Still, Julien knows the greatest gift he’s giving is the one shown to him in his youth- the chance to provide for your own relatives. In the end, he says, he’s just happy when he thinks of “the many families” he knows can put food on the table thanks to the employment he provides.
Julien Tumma
Citi Community Development Story: From Sidewalk to Storefront
Bernardo Figueroa stands in an aisle of Lalo’s grocery, surrounded by specialty items that are imported from El Salvador, Bolivia and other Latin American countries to meet the needs of the neighborhood clientele. “This was the living room,” he says. “Over by the cash register, that was the dining area. And [gesturing past the case of frozen chocobananas] back there is where we slept.
Until 1992, this space in a row house in the Columbia Heights neighborhood of Washington, DC was Bernardo’s family home. Outside on the sidewalk, his father, Eulalio, would sell various grocery items. Eventually, Eulalio had enough money saved to convert the interior to a store. The family moved upstairs.
“I’d come home from school and work in the store,” Bernardo says. “In the summer, I worked here full time.”
Eventually, Bernardo got married and, with his wife, decided to start their own food truck business. Like every prospective entrepreneur, they needed guidance. And money. “I always talk with my friends about what they’ve done and how they got help,” he says. “That’s how I ended up with LEDC.”
LEDC is the Latino Economic Development Corporation, a DC-based nonprofit that provides affordable housing and small business development services to enable Latinos and others to build a better financial future for
“We’ve been able to go from being 95% dependent on the DC government to less than 50%.”
themselves, their families and their communities.
LEDC was formed in 1991, the year before Eulalio turned his home into a store. The organization was created largely in reaction to the Mt. Pleasant riots, a week of destruction that followed the shooting of a Salvadoran man by a police officer during the Cinco de Mayo parade. “This was right down the street from where our offices are now,” says Manny Hidalgo, LEDC’s executive director. “A lot of businesses were destroyed. What folks realized is that people don’t destroy things and burn things and go to such extremes unless they feel they have nothing to lose — which is what they feel if they haven’t built wealth or planted roots in the community. They haven’t become part of the fiber of the community. So the idea was to get all immigrants working together on the vision of building community, with the understanding that you need a bilingual and bicultural approach.”
“LEDC started as one man’s idea with a group of friends,” Manny explains. “This particular gentleman was an economist who knew a lot about the financial sector and he partnered with a group of civil rights activists. Over time, the organization was able to move from a basement apartment to what we’ve become today: a multi-jurisdiction, comprehensive nonprofit with a staff of 30. We’ve come a long way but at the same
time we’re very cognizant of where we started and very much committed to remaining local. We also understand that building community takes time. This is our twentieth anniversary and yet 20 years is barely anything. It’s not even a generation! So we’re in that process of building what’s really a first generation of Latinos who have decided to make the DC area their home.”
Bernardo Figueroa is a member of that new generation. Bernardo received a loan from LEDC that enabled him to open his food truck business. The organization also provided education, through its comprehensive entrepreneurial training program. “The first course I had was on computers — learning how to manage all that software. Then I had a course about how to run a business — the money basics, how to get the permits, how the government works with businesses, how to pay taxes, keeping personal and business finances separate. LEDC helped me get my things in order so I didn’t have to go wandering around all over DC. It has made everything easier for me.”
“I believe that when a small business stays in the family, there’s more of a relationship toward the business.”
– Bernardo Figueroa
About six months ago, Eulalio decided he was ready to retire. And Bernardo decided that he was ready to take the next step as an entrepreneur. He offered to buy the grocery from his father. “I believe that when a small business stays in the family, there’s more of a relationship toward the business,” he says. “You take care of it more, you run it better, you know more about the customers who you see every day. I grew up here and I know the community. We talk to them about everything that they do and sometimes, when they need something, we get it in a day or two. If we don’t have a product, we get it for them and that’s how we try to keep our customers. I’d rather keep a customer for a long time than just for one day and that’s how I think family-owned small businesses are better for the community than with people you just don’t know.”
LEDC helped Bernardo again, this time with a $10,000 loan to make the downpayment on the store.
Like any nonprofit, LEDC depends on contributions to facilitate its work. “We’ve
partnered with a lot of other community organizations over the past six years,” Manny says, “and so we’ve attracted the attention of more funders. We’ve been able to go from being 95% dependent on the DC government to less than 50%. And among our funders, I’d say that banks are by far the most involved.”
Diana Meyer, Community Development State Director for Citi, explains why her work has to go beyond philanthropy. “We understand that expanding financial inclusion and economic empowerment is a collaborative effort,” she says. That requires more than just writing checks. As bankers, we have skills and experience that are invaluable for nonprofits. So we help them in many ways — as members of their boards of directors, through volunteer service, and of course by working with them when we can to offer financial products and services that meet the needs of underserved families and communities. We are working with LEDC, for example, to develop innovative products that will expand financial inclusion for underserved people in the DC Metropolitan Area.”
“We make a lot of referrals to banks,” Manny says. “and we’ve received a lot of referrals from them. We do lending and banks do lending, but they can’t lend to everyone. When I joined LEDC in 2005 we had about $140,000 in loans out to about 17 businesses. Now we have a portfolio of about one and a quarter million dollars and at least 100 businesses per year.”
Bernardo and his wife still own the lunch cart. Early in the morning, while he’s picking up his inventory, she is preparing Spanish and Mexican food to serve to DC residents at lunchtime.
In the store, Bernardo proudly displays his products — pineapple and coconut candies; corn breads made fresh each day; quesadillas. “We have one company that provides some things, another that has three or four more… I have to go to five or six places to buy different products. Since I’m kind of small, I have to go to them, but hopefully maybe in the future, if I can expand this, I can have them bring it here.”
CAMEO Start-ups Create Three Jobs on Average Sweet Treats Creates Four
by Heidi Pickman
About three years ago Chris Saint of San Diego was recovering from spinal cord surgery. When it became clear that he couldn’t return to being a private investigator, he realized that he needed to find another career, or at the least, another way to spend his days, while his wife Jennifer sold real estate.
One day at a friend’s party, Chris, Jennifer and some others were reminiscing about the ice cream truck when they were kids - the excitement they had when they heard the music, the breathlessness from running in the house, scrounging for change and hoping you didn’t miss the truck, eating the peanuts off the top of a Drumstick, then the chocolate, then the vanilla ice cream, then crunching on the cone.
When they got home, the light bulb went off. Chris and Jennifer decided to modernize the ice cream truck. They drew up plans to convert an old delivery truck into a “pimped out truck with pin-striping and a rockin’ stereo system with a good bass beat.” With new music and gourmet ice cream, their target market was adults. They took their plan to a regular bank, but didn’t get very far. In fact, the bank didn’t ‘get ice cream’ and told the Saints that they were too much of a risk.
“Being in business for yourself and what goes into it – if you think it’s easy, then you have never owned your own business.”
So during their first year, Jennifer called their counselor many times, “’We are struggling, we don’t know what to do’ and they were always supportive. We wouldn’t still be here without ACCION in that first year.’” The Accion – San Diego counselor helped them re-imagine their business plan and find a different niche, and business blossomed.
They were referred to ACCION – San Diego by a friend who had worked with ACCION. The greatest thing was when Jennifer and Chris presented their idea to ACCION – they ‘got it’ and loaned the Saints $35,000 in April 2008. “They didn’t laugh,” said Jennifer. “And they went all the way with us which was so cool.”
The Saints had it hard in first year. All of their friends and family thought they were crazy and said things like “you’re working so hard” or “are you sure you want to be doing this?” Nor could they find their niche. Their truck would sit at the after bar scene at for hours on end hoping to attract the after-club crowd, but they’d often come home with a whopping $25.
The SweetTreats truck mainly caters corporate events with a menu that includes Häagen Dazs, Ben & Jerry’s, Snow Cones and even dog ice cream. They do birthday parties, grand openings, other private events and the occasional farmers market. They became so successful that they went to CDC Small Business Finance for a bigger loan to pay off ACCION and buy another truck. They now have three trucks – the latest is a desert truck that carries cupcakes and other gourmet deserts from other small businesses. They are turning business away because they don’t have enough trucks, so they are looking at a fourth. Many of their clients are repeat clients, some are big names calling for bigger contracts. Now friends and family take the Saints seriously and ask Jennifer when she is leaving real estate.
Chris and Jennifer have two employees and hire lots of self-employed contractors, although Jennifer is still not full-time time as they’ve invested a lot of their profits into the business. She is starting to feel like getting close to the time when she will leave the real estate business. “I’m having more fun with Sweet Treats. I’d rather be doing this.”
Heidi Pickman is the Communications Manager for the California Association of Micro Enterprise Opportunity (CAMEO). CAMEO is reclaiming the California dream, one Micro Enterprise at a time. Both Accion - San Diego and CDC Small Business Finance are CAMEO members.
In the Studio with Caroline Petters: A conversation about her life, her work, her passion
Interviewed by Monique L Wilson
MW: Let’s talk about this MOSO lifestyle, I mentioned earlier that MOSO just simply means micro owner solo owner and MOSO MAG was created to tell the stories of business owners. Tell me a little about what that MOSO life looks like for you on a day to day basis, how are you living it as a photographer?
C: Well, sometimes it’s fear, fearful but being open to anything that comes in through the door, doesn’t matter if you’re snub at it or maybe it’s just for money, it’s always about creating a connection, it’s always fun even if it’s something that could be viewed as a silly
MW: I know that you’re in graduate school and juggling some side gigs. How are you balancing all that, school, running your own business and all the other stuff – how’s that working for you?
C: Ah…it’s not going well (ha ha!)
MW: But that’s the real, Caroline – that’s good though. As MOSOs we need to be honest and share the challenges and victories about what our life really looks like. (We’re both cracking up – we get it)
C: No really it’s going great, but
“I usually have a shoot during the day, then I have an art class at some point during the day which is about 4 hours a day, then I’m editing the remainder of the time until I go to sleep.”
headshot. That’s what I love about it. I always saw myself as owning my own business. I wanted to work somewhere different every day. That’s exactly what I’m doing. There is a downside as well. You don’t know when or where work is going to come. You’re everything; you’re the Janitor, the accountant.
MW: Yeah I understand, you’re the marketer, you’re PR……need I go on?
C: Some days or months you get overwhelmed and you don’t do all the things you need to do, like update your website, so it’s just learning how to balance all that.
really I need to practice doing more fun stuff because I’m at a stage in my life, I’m in grad school, where I think I have to say yes to everything and I do say yes to everything. I’m getting better at saying no to things that aren’t necessarily that important. So learning the balance of when you’re in your own business and you’re trying to grow it, and every little thing is fun and new, you can overwhelm yourself. And all of a sudden, you’re working all the time. That’s not healthy.
MW: Yeah – that’s a good nugget. You’ve got to take time out for yourself. C: I’m trying to work on, like – eating and sleeping, and having fun– more (smile).
MW: So we know how you’re work is going. I like to ask 4 questions: Life, business, how you’re creating wealth for yourself and giving back to community. With those 4 foundational elements in your life, especially if you’re doing them effectively, you’ve got MOSO Mojo. I mean really, if you can get that in alignment, right, have a little leisure time, travel, do family, figure out how the heck to create wealth with all the other operational things you’ve got to do and give back; you’re like the STUFF. What does a day in the life of Caroline Petters look like? When you get up to going to sleep – like are you sleeping in until 12 Noon?
“SuNDAy”
Video short by Caroline Petters
CLICk HERE!!!
Enjoy!
C: No, I usually wake up (well it depends on whether I have class) like around 9-ish. I work out, then eat something, answer some emails for awhile then edit for awhile.
MW: Like what’s awhile?
C: 7 hours, depends on what I’m doing – I’m shooting weddings right now, so I will probably go and work on something like that for about 12 hours. I need to. It’s fun so it’s ok. I’m also doing a lot of video, so I have to edit a piece for a designer so I’m at my computer all the time.
MW: So, what’s your evening like – if you’re editing for 12 hours a day?
C: I’m usually editing more. So it goes something like this, I usually have a shoot during the day, then I have an art class at some point during the day which is about 4 hours a day, then I’m editing the remainder of the time until I go to sleep. Then wake up and continue. I love it but sometimes it’s been a month literally that I haven’t had a day off. As for the other gigs, I’m working at Arm Chair Media as their interactive film person, twice a week – 9 to 5, filming a lot of their videos that are going on their site, so that’s going to be a whole new thing for me added on to what I’m already doing.
MW: But the benefit of that as a MOSO is that side gig is generating some revenue for you so when things are slow on one end you’re covered for a short period of time – it’s called Giganomics.
C: I have a lot of feelers out there for making money like shooting a random event, wedding s (I’m building up my wedding business – I shot five weddings this spring).
Then, doing video stuff and slowly getting commercial work. If you spread yourself out enough you’ll get the work. I don’t really do any marketing, but I do tell people I shoot babies, like right when their born – it’s good.
MW: So that just rolls us right into the whole creating wealth for your-self thing. You’re a young lady so do you have a plan for creating wealth. As “Creatives “, we’re in love with the work and sometimes we don’t emphasize creating sustainable wealth until later.
C: Yeah it’s like OMG, I’m having a dry spell – I should think about that. I have a few plans. At the beginning of each year when I get all crazy about what I’m going to do – I realize that If I just stick to doing what I do really well – it’ comes. If you stay in the moment when you’re doing your work then the clients love that and – you’ll get more work. I’m not as worried as I was before.
MW: Is there something that you love to do from a community stand point? What do you do to give back to community? (We are really laughing out loud right now because Caroline is like – where do I have time to do community – and in her defense, really.)
C: I like to give back by shooing photos of babies and families I’m not really making any money off of that. But I absolutely love doing that.
MW: What do you do to relax?
C: I exercise, hang out with friends, hiking and running. I’m a big outdoors person. I lived in Colorado for seven years and I want to move back somewhere where there is more outdoor stuff. I used to climb and ski too. I don’t really know what to do in the City. I’m going to dip ship soon. When you’re really busy, you’ve got to find that balance because at some point your body is going to shut down.
MW: Any last minute things about what you’re up to now? I know you’re doing film shorts now.
C: Yeah, they’re called shorts. I want to start doing video look books for fashion (not high fashion). For instance, Converse has that kind of thing on their website. That’s what I’m up to. Oh and by the way check out my most recent piece called “Sunday”. (Video link in above sidebar.)
Greg Cross, City Chef and Owner of Passion for Food Personal Chef Service, Atlanta GA
After 18 years in the investment business for corporate America where he was fortunate enough to eat in some of the best restaurants in Atlanta, New York and Charlotte; Greg Cross decided it was time to make a change in his life. As a child growing up in South Georgia eating southern comfort food and later developing his skills as a chef cooking for family and friends, preparing and enjoying food has always been an enormously fulfilling part of his life.
Once he decided that a personal chef career was right for him, Chef Greg fine-tuned his skills by working in the kitchen of a prominent Charlotte, NC country club and also by attending culinary classes. In the summer of 2000, he and his family came back to Atlanta to be closer to family and friends, and share his Passion for Food with his personal chef clientele.
Greg is a personal chef, but that doesn’t mean he’s cooking in a kitchen for someone sitting just outside waiting to be served. That, he explains, would be a private chef. What Cross does is come into clients’ homes, cook enough meals for about two weeks, and leave the meals there frozen or refrigerated for the client to reheat at will.
Greg feels very blessed to have been given the opportunity to do something he loves as a way to make a living.
DeKalb Farmers Market, where choices are good, especially for organic items, he says. More and more clients are asking for organic foods, he says, indicative of the fact that, at least in theory, more people these days want to eat healthier.
“The intent is there for people to eat healthier. I think a lot of times I find that what people say they want to eat isn’t necessarily what they eat,” Greg says. “People want to eat better. People are more conscious about what happens, how the food’s made, where it comes from, is it processed—and rightly so.”According to Cross, a personal chef service is just the ticket for Atlantans short on time.
That, he says, gives his clients what they all need so desperately: time.
Most of Greg’s’ clients are in the city, which just works out best for him. He does most of his shopping at the
In order to keep balance in my life while running a business, Greg and his wife Teresa spend as much time as possible walking their two dogs, bicycling, and hiking in the mountains. To develop a spiritual awareness of life, Greg meditates daily.
Greg feels very blessed to have been given the opportunity to do something he loves as a
way to make a living. And he knows that he could not have started his business without the support of friends and family, so he looks for ways to give back. Sometimes this is being involved with his neighborhood projects, or helping judge a culinary competition at the high school where his wife works, or simply cooking for family get-togethers. This is how he gives thanks.
Contact Greg Cross of Passion for Food personal chef service at 404-405-0161 or greg@passionforfood.biz.and his web site at www.passionforfood.biz.
by Andrea Kemp
It’s a Dog’s Life for Julie Kuever
It’s a dog’s life for Julie Kuever, but don’t think this successful self-made Tucson entrepreneur takes the term as an insult. For the past 18 years, Julie has been keeping a short leash on the success of Teddy’s Dog House, harnessing a hardworking drive and taking advantage of exposure through local media outlets to gain exposure.
Teddy’s Dog House, located in northwest Tucson, caters to cats and dogs of all sizes, with a bevy of wash, clip and cut combos. But Julie’s offerings don’t stop there- discerning pooches and felines may receive nail treatments, bandanas, bows or a spritz of cologne as a part of their trip to Teddy’s.
And as a consumer market increases their ecoawareness, Teddy’s Dog House has risen to meet the challenge, offering a full range of organic shampoos.
When she’s not cornering the organic dog grooming market- or holding a scissors or bow in her
ABOuT TEDDy’S DOg HOuSE
hands- Julie’s at work grooming the image of her business in the public eye. Teddy’s Dog House is highlighted weekly on Tucson’s local Channel 13 KOLD “Tuesday Tails Pet of the Week,” and has been featured on multiple occasions in The Arizona Star. Market demands aside, Julie says much of Teddy’s Dog House’s success comes from the basic business adage of being the best at what they do. Julie is thankful to her unrelenting staff, which brings more than 30 years of experience to the grooming tables, and meets the challenge of a seven-day work week with ongoing endurance. She’s also grateful to have a roster of groomers on hand who can use their expansive skill sets to continually meet the specific needs of each critter customer, whether whiskered, Whippet or just in need of a good washing.
This northwest-Tucson based business began in 1992 by groomer Julie Kuever. Today, the business boasts groomers with more than 30 years of experience, and caters to dogs and cats of all shapes and sizes. Teddy’s Dog House is a Better Business Bureau-accredited site, and boasts local awards for top grooming in the Tucson area.
Learn more at: www.teddysdoghouse.com
Julie Kuever
What’s all the buzz about social media?
By Matthew Crandall
LinkedIn just went public with Facebook not far behind; politicians are resigning over Twitter scandals; Foursquare just rolled out a new feature. This is all great, but what we should be talking about is the buzz that social media can create for your business.
Just a few years ago even a website was a “nice to have” and social media was barely on the radar of most MOSOs. Today a website is required and crucial to daily business and social media is also a must with the myriad tools available. Not only is social media fun and hip, but it is also the most effective and cost efficient way to grow your business and attract new customers.
Social media is a cost-effective masscommunication tool used to attract new customers,
and it also helps customers stay interested and keeps them coming back. Different tools allow businesses to focus on interaction with the customer, customer retention, and increased customer service.
Another benefit for small businesses is the fact that social media is racing down the local path at warp speed – with new geolocation tools being launched daily. This is where you connect with your customers on a local level and how you drive local traffic to your business. Twitter, Facebook Places, Foursquare and others highlight real-time activity. With this information, businesses can respond to a user’s real-time location and engage them with special offers, deals, or messages.
5 must-haves for an effective business card
A business card is one of the first things you create to brand your business. But once printed, it’s probably the thing you think least about. Among certain people it’s still the most important, triggering a recollection of your and your business. I recently had to replace mine, and I visited several online printers. The selection and arrangement of type was easy enough, but the process got me thinking. What does each element on a card say about me and about my business? How can I create a card that people will keep? It’s quite simple really, and comes down to five things:
1. Legible type: How big is big enough. Frankly, your mother should be able to read it without squinting. The size depends on the font, but unless your customers are under the age of 14, you want something that can be read without glasses.
2. Simple design: Less is definitely more here. The less cluttered your card, the more easily people can find your contact information. If you can’t decide on a logo or design, don’t just pick something you like from a template. It’s likely hundreds have chosen and are using the same image. Select a simple, tasteful typeface in a color that stands out. If you think black is boring, opt for dark brown or blue, olive green, graphite. Choose a white or off-white background; either always conveys good taste.
3. Consistency: When you can, match the typeface and color on your card to those on your website and other printed communications, such as
stationary or direct mail. Consistency is an element of brand building, and the repetition and continuity help reinforce your message and image.
4. Currency: I don’t mean money. I mean something that indicates you are current with the times. In addition to your address and phone, include your Facebook and Twitter accounts. Make room for a Q R (Quick Response) code to display contact information or open a webpage in a mobile phone’s browser.
5. A memorable message: Not so long ago, people and businesses left the backs of cards blank. Increasingly, this space is used for a tagline, a logo, or a message about the business. If you have a service-based business, you can use it for making appointments. Your card should be considered part of your advertising or even used to offer a promotion.
Finally, a few words about size and shape: There’s no evidence that sticking with the standard shape, a rectangle, will get a more positive response than, say, a square, an oval, or an oversize card. But that shape should say something about your business and what it stands for. If you have a gardening business, for example, then a leaf-shaped card makes sense. If you are in a creative field, such as an interior designer, a special paper or deckled edge communicates your artistry. Whatever you choose, make sure you have a reason to back it up. That’s part of branding, too.
Charlotte Barnard, Charbarnard@yahoo.com
Mean It, Say It, Do It: Three Principles for Small and Solo Business Owners
People often ask me, “What does it take to succeed in the adventure of running a business?”
I’ve been running my business for 10 years now and it took me awhile to learn any kind of reasonable answer to that question. Here are three workable principles for successfully running my business that I think other business owners can gain insight from:
1. Mean what you do. Really find your passionwhat makes you zing - and run with it. It doesn’t necessarily have to be deeply rooted in your philosophies. It just has to be an idea or a product that you feel is so important or so useful that it has to get out into the world. So, find the meaning in what you do and really get down with it!
2. Say what you mean. Find the words that truly describe the meaning of what you do and really get into them. Remember that in every business, it’s always about who you’re serving. Tell your clients how you can make their lives easier and meet their needs. Play with the
2011 AEO Conference
by Ron Witherspoon
(Photo Identification)
language and find three or four ways to tell your story. Do it in ways that appeal to different learning styles; create visual and verbal versions of your message. Develop multiple layers to this message through your website and other materials. Play with it, work it and test it.
3. Do what you say. This one really hits at the heart of your personal integrity and principles, and it also focuses on taking care of your clients. New and first time business owners especially are often so eager to have a business that they will say “yes” to anything. This may seem like the path to success, but it often derails us from our purpose, makes us tired, and makes us unavailable to opportunities that are a better fit. I highly recommend that you explore the meaning of “no” – “No, thank you,” “No, that’s not what we do,” “No, that doesn’t serve our mission.” Only say “yes” to what you can do and follow through on.
Dyana Valentine, www.dyanavalentine.com
Steve Lafredo & Monique Wilson
2. AEO Main Street Matters awardees for Innovation & Infrastructure
Janie Barrera, ACCION Texas, Cecilia prinster, Colorado Enterprise Fund, Debbie Taylor, Citi Community Development, Connie Evans, CEO Association for Enterprise Opportunity
3. Donald Bowen, National urban League, gail Christopher, W.k. kellogg Foundation, Connie Evans, AEO, Ron pollack, Families uSA
4. James guteirrez, progreso Financiero
5. Earl Boyd, Entrepreneur Works
6. Nell Merlino, Count Me In
7. Connie Evans, CEO Association for Enterprise Opportunity
Photo Journal
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