Everyone has a past—some are good, and some are not as good. But whatever you’ve gone through, translating your background and experience to shape and position your business can be transformative. Eric Maliszewski was able to translate his skills and experience into ownership of the Canal Side Café & Bistro in the heart of the beautiful village of Baldwinsville. While Eric’s story may not be completely unique, it is a story about progression, perseverance, patience and opportunity.
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As a business advisor for the Onondaga Small Business Development Center (SBDC), I frequently encounter entrepreneurs with great ideas for new businesses. Most often, they are convinced that they have a business model that will be successful in the marketplace. Whether it is high-tech or low, product, service, or a combination of both, they are convinced that it is a winner. Eva Zaczynski had absolutely no experience running a restaurant when she first opened Eva’s European Sweets in in 1997. She picked a red brick building on Milton Avenue, just west of Syracuse, because she could afford the rent. As word got out in those pre-internet days, the staff kept written directions by the phone to help lost diners when they called. Raise your hand if you can’t stop looking at your email when you are supposed to be on vacation. As we all become addicted to our electronic devices and constant need for instant information, are we making things better or worse? There is no doubt that being a small-business owner you probably put in more hours than the average 9-to-5 worker, but that is exactly why it is more important to be aware of the benefits of striking a work-life balance. Entrepreneurs are innovative, self-starters and motivated beyond belief. We, in economic development, marvel at your tenacity and sheer will-power. When starting a business, you have created a step-by-step plan on how to begin, when and where to start, detailed your business plan with extensive projections, and forecast the possible highs and lows of your new venture. You have detailed every phase of your project, and what needs to be done to make the next phase a success. This commitment to success is awe-inspiring. Often, you spend so much time and energy planning and cultivating your “baby,” but most times very little effort at planning for your exit. The best days that Central New York has to offer us weather-wise are upon us. Now is the time to get out, soak up the sun, and step away from the daily grind. No matter what stage of entrepreneurship you are in, it is far too easy to get sucked into wearing many different hats, working too many hours each day, and never allowing yourself time to recharge. After all, isn’t this the reason you chose to become an entrepreneur? —to make your own schedule, allow inspiration and creativity, and spend more time with your families and friends. Watch for the Five Ps in every small-business success story. This will not be the first time you have read about the importance of critical items to startup and early stage, small-business success. After spending more than 10 years mentoring and coaching startups, I am equipped to opine on the most important Ps in early stage small businesses. These are things, in my opinion, that are essential to small-business success and I believe many of my associates would heartily agree. Any business must make it a priority to focus on providing excellent customer service, along with an appealing presentation. Several years ago, I remember sitting in a sales seminar and the speaker was making a point about the importance of presentation. He painted a vivid picture with his words, describing a favorite meal being served at a fine restaurant. He then told the class to imagine the waiter serving this fabulous meal on a garbage-can lid. Anyone hungry? With over 50% of all business with employees currently in the ownership hands of the Baby Boomer Generation, our society is poised to experience one of the greatest transfers of capital ever. In New York State alone, that translates to 181,370 businesses employing 1.6M people (from a Project Equity report using US Census, 2012 Survey of Business Owners). What does MWBE stand for and what does it mean for your business? Minority and Women Owned Business Enterprises can be a great way to open up many new business opportunities within your industry. No, grants are not something you will automatically get with having this certification and no, it does not ensure you will get a bid on a job you are going for but, it will give you an edge over a company who is not certified and is trying to get opportunities with the government. Ok, still confused by what it really means for you? |
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