America’s SBDC Blog

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Floating Success

November 30, 2015
Success Story: Illinois

“If it were not for Jo Ann and the SBDC, I would not be where I am today.  Jo Ann and Patrick were pivotal in helping to refine and strengthen the Float Rooms USA business plan, so we could secure a line of credit. The SBDC also connected us to SIUE marketing students who performed valuable market research for our business.” – Cheri Koene, Co-Owner, Float Rooms USA

Impact of Working with the Metro East SBDC:

• Shortly after Float Rooms USA incorporated in 2013, Ms. Koene met with the Illinois Metro East SBDC staff in East St. Louis for business plan assistance and location data. SBDC staff also connected Ms. Koene with America’s Central Port in Granite City (IL) and the Illinois Manufacturing Excellence Center, for detailed insight on how to seamlessly receive product into the United States. (more…)

Password Managers: Protect Your Business Online

November 23, 2015
By Scott Gerlach

padlockPasswords are broken.

OK, now that we’ve cleared that up, let’s talk about why, and some ways to help protect your business online.

To make passwords hard for computers to guess, you have to make passwords hard to remember. To prevent one compromised account from destroying the security of all of your online services, you should use different, hard-to-remember passwords. This predicament leads people to use one easy-to-remember password for everything. Which wouldn’t be bad except you don’t want your Facebook password to cough up your online banking credentials. Nor would you want to lose your domain names and hosting sites to a slip of a Twitter credential. (more…)

Young Entrepreneur Trades Job Search for Fashion Dreams

November 18, 2015

defeliceAs a recent college graduate, Sarah DeFelice was committed to a career that fulfilled both her passion for fashion and her love for life in the Green Mountain State. But as she researched the local job market, few opportunities matched her criteria for happiness.

“In short, my motivation to starting my own was that my dream job didn’t exist unless I created myself,” DeFelice said. And that’s exactly what she did.

Earlier this year, the 26-year-old fashion maven opened the Bailey Road boutique at 44 Main Street in Montpelier. The store offers elevated clothing, handbags and jewelry at accessible prices.

“We are dedicated to helping our customers achieve both professionally and personally,” Defelice said. “Whether you are on the hunt for that knock ‘em dead outfit, want help updating your wardrobe or are just looking for some retail therapy, Bailey Road can be your personalized fashion expert every step of the way.”

But long before DeFelice could make her dream become a reality, she encountered many challenges along the way. First and foremost, having little financial history and assets, DeFelice struggled to prove her business was viable to lenders. “One of the hardest parts of starting a small business as a young entrepreneur is that most traditional lending opportunities look only at the numbers and not your business plan,” she said.  (more…)

The Airbnb of Construction Equipment

November 16, 2015
EquipmentShare-MO-success-storySuccess Story: Missouri

“Collin was very helpful. His efforts, his networking, have been very valuable.” — Willy Schlacks, Co-Founder, EquipmentShare.com

Impact of working with the Missouri SBTDC: Ten percent growth every week—from zero in January 2015 to $2.4 million in June 2015; four employees to 20, same time period (five months); and added an office in Dallas.

Read the whole story, and learn more about the Missouri SBTDC and EquipmentShare.com.

Lighting the Way to Business Success

November 13, 2015
PA-success-LuxTechSuccess Story: Pennsylvania
  • Wharton SBDC, Pennsylvania SBDC network
  • Client: LuxTech – SBDC client since 2013
  • SBDC Consultant:  Jacquline Jenkins

“The first start-up I worked at took us 3 years and $3 million investment to reach $1 million revenues. [LuxTech] took 1 year and $15,000 investment to reach $1 million revenues. Which would you rather do?” – Sean Darras, CEO and Founder, LuxTech

Impact of working with the Pennsylvania SBDC: Sean Darras founded LuxTech – which designs, develops and engineers LED modules that enable light fixture manufacturers to enter or expand their offerings. By the beginning of 2014, Darras had validated his business model, raised $700,000 in investment, hired 3 full-time and 2 part-time employees, built a national distribution network, and secured contracts for sales of over $5 million. (more…)