Success Story: Vermont
Karen Thompson loves to help people. That has always been a strength of hers and something she wanted to turn into a life-long venture for some time. She recently accomplished her wish in the spring of 2017, when she opened the doors of Welcome Home Mature Adult Assisted Living in Lyndonville, Vermont.
The 24-hour elder care facility is already proving to be a great place for Thompson and other staff members to do what they love — helping people. But it has also proven a viable new Northeast Kingdom small business.
While Thompson always knew she was passionate about caring for people, she wasn’t sure how that would translate into a viable business. She needed banking advice and other tips on starting a business and quickly enlisted the help of Vermont Small Business Development Center Area Advisor Ross Hart.
The pair quickly went to work on budgeting and projections for the first year of operation, Thompson said. Hart also helped Thompson establish reasonable financial expectations and identified many helpful local business resources, she said. Thompson described working with Hart as an “educational, insightful, perfect” experience.
“There was so much I didn’t realize I needed to know about dollar signs and numbers,” Thompson said, adding that her work with Hart “inevitably has become the blueprint to effectively operate my business.”
“I expect Karen to be very successful with her venture because she has the right skill sets and entrepreneurial qualities,” Hart says. “She is compassionate with her clients, has many years of experience in the field, is very driven, and is comfortable with the financial aspects of the business. She is also a very eager learner. She is well on her way.”
For more about VtSBDC, visit www.vtsbdc.org.