unleashing
national impact
igniting local
transformation
The journey to entrepreneurship came with several challenges, starting with an unexpected job loss that prompted a shift from corporate employee to business owner. With no formal business education, navigating the transition required significant self-teaching and seeking advice from peers. A key early challenge was adopting a business owner's mindset, which included setting up necessary structures like obtaining business insurance. This required forming an official business entity, a process that was unfamiliar at the time.
Financial management posed another hurdle. Without prior experience in this area, learning how to handle bookkeeping, track expenses, and understand profitability was critical. Partnering with a bookkeeper and using tools like QuickBooks helped overcome this challenge, providing a clear financial picture and enabling better decision-making.
Moreover, the entrepreneur faced the complexities of applying for small business loans, certifications, and handling administrative tasks—areas in which support from the Small Business Development Center (SBDC) proved invaluable. Despite these challenges, persistence, education, and seeking the right resources, such as the SBDC courses and mentors, helped overcome each obstacle, ultimately leading to business growth and long-term success.
"Enrolling in the SBDC courses provided step-by-step directions on everything needed and it made me feel confident in an area that was all new to me. When I was ready to officially incorporate the business Jackie helped me complete the online applications with the state. Together we pushed "enter" and Verve Early Childhood Consulting LLC was formed. We are now in our 11th year."
The NJSBDC at Brookdale Community College played a pivotal role in overcoming the challenges faced during the client's entrepreneurial journey. First, it provided a solid educational foundation through its ECP courses that offered step-by-step guidance on business formation, helping the entrepreneur transition from a corporate mindset to a business owner's perspective. These courses built confidence in navigating unfamiliar territory, such as creating a business entity and obtaining necessary insurance.
When it came to financial management, the NJSBDC offered advice on partnering with a bookkeeper and using QuickBooks, which proved crucial in maintaining clear financial records and tracking profitability. This guidance empowered the client to become financially literate, providing a clear understanding of business expenses and revenue.
Additionally, the NJSBDC at Brookdale Community College provided one-on-one support for navigating administrative complexities, such as applying for PPP and EIDL loans, submitting a Doing Business As (DBA) application, and obtaining small business and women-owned business certifications. Their assistance ensured that these processes went smoothly, avoiding potential setbacks.
The NJSBDC also inspired further growth by featuring the entrepreneur as a guest on their "Talk of Success" podcast, which motivated the creation of the entrepreneur's own podcast, expanding their business visibility. Through ongoing mentorship, resources, and practical support, the NJSBDC helped overcome the challenges of starting and scaling the business, leading to sustainable success.
Lynee achieved significant success throughout their journey, starting with the official formation of her business, Verve Early Childhood Consulting LLC, which has been thriving for over 11 years. With guidance from the NJSBDC at Brookdale, she navigated the challenges of starting a business, such as securing insurance, incorporating the business, and developing a sound financial management system.
A significant milestone was reached when the business accumulated $1 million in revenue, indicating growth and profitability. Using tools like QuickBooks helped maintain clear financial records, ensuring stability and success. The NJSBDC's support also led to successful applications for PPP and EIDL loans during the pandemic, ensuring the business's continued operation during uncertain times. She also secured certifications for small business and women-owned business statuses, enhancing their credibility and opening doors to new opportunities.
In addition to financial success, she expanded their impact through innovative ventures, such as launching The Café Verve Podcast, now in its third season, and offering leadership cohorts to help clients.
Recently, she launched The One World, One Breath Collective, which reflects their holistic approach to business by integrating wellness and leadership. The success story underscores financial growth and a deeper fulfillment by creating opportunities to educate, mentor, and support others along their journeys.
Ken and Cecilia faced numerous challenges while turning their dream into a reality. Initially, they envisioned launching a food truck, but they encountered logistical and financial hurdles that made this option less feasible. Shifting their focus, they sought a permanent storefront location but struggled to find the right spot in a supportive community. Building a sustainable business model, securing a location, and developing a growth plan amidst the uncertainties of the pandemic presented significant obstacles. Additionally, they needed to establish a strong brand and market presence to attract local customers, especially as a new business in a small town. Overcoming these challenges required a thoughtful approach to scaling, marketing, and finding the ideal location that would allow them to connect with their community and ensure long-term success.
"NJSBDC Regional Director Matt was more than just a sounding board for us; he was an invaluable asset. He provided guidance on our business plan, offered direction, helped us understand the business landscape, the target demographic, and the budget we needed to set. He took the time to understand our business goals, and his patience and kindness were greatly appreciated. Matt not only connected us with important contacts but also instilled the confidence we needed and provided valuable advice when negotiating our lease."
The NJSBDC played an instrumental role in guiding Ken and Cecilia through the challenges of starting their business. Their advisor, Matt, helped refine their business model and introduced the concept of phased growth, allowing them to expand gradually and strategically. NJSBDC also provided valuable market insights and connected them with essential contacts, helping them understand their target demographic and positioning within the local market. Matt's guidance in identifying the perfect location in Hopatcong and offering critical advice during lease negotiations was invaluable, especially for first-time business owners. The NJSBDC's support gave Ken and Cecilia the confidence and direction needed to launch successfully and establish a foothold in their community.
With the support of the NJSBDC, Ken and Cecilia successfully opened their ice cream shop in Hopatcong, where they received a warm welcome from the community. Implementing a phased growth plan allowed them to start small with core offerings like ice cream cones, cups, and sundaes, gradually expanding to include pints, quarts, and custom cakes. This approach has generated excitement and loyal customers who eagerly await each new product line. The business is now thriving, with Ken and Cecilia actively exploring further opportunities, including mobile sales and seasonal offerings, to increase revenue and strengthen their local presence. NJSBDC's assistance has been key in helping them navigate the early stages and build a sustainable, community-focused business.
Hopemade Yarn Co. began as a passion project with the goal of turning hand-dyed yarn into a thriving business. The owner faced significant challenges in scaling the operation, particularly with limited knowledge of financial management and the complexities of transitioning to wholesale distribution. As the business began to grow, she was diagnosed with cancer, a major health challenge that temporarily slowed her progress. Despite undergoing radiation and chemotherapy treatments, she remained committed to her vision and continued to build the foundation for future success. Balancing health, personal life, and the demands of scaling a small business required immense resilience and determination.
"The NJSBDC has proven a great resource and Ana specifically answered my many questions about finding accountants, paying myself, and other financial questions that are outside my wheelhouse as a designer and artisan. NJSBDC also directed me to classes and resources that have been invaluable to my growth and development as a small business owner. "
Hopemade Yarn Co. faced the dual challenges of navigating business growth and overcoming personal health struggles. The NJSBDC provided targeted financial guidance, helping the owner find an accountant, structure payment systems, and manage her finances effectively. They also referred her to classes and workshops tailored to the needs of small business owners, covering topics like scaling operations and marketing strategies. This support equipped her with the tools to transition from a small-scale operation to wholesaling yarn. Even while undergoing cancer treatments, the owner utilized the SBDC's resources to maintain progress, demonstrating extraordinary resilience and dedication. The NJSBDC's continued guidance gave her the confidence to keep growing her business despite the obstacles.
With the NJSBDC's support, Hopemade Yarn Co. achieved remarkable growth, expanding from a small setup to wholesaling 800 skeins of yarn at trunk shows and securing partnerships with three regional yarn stores. The financial systems put in place ensured stability, while marketing strategies helped the business broaden its customer base. Today, the owner is in remission and continues to grow her business, focusing on expanding wholesale operations and online sales. Her journey reflects the resilience and determination to overcome challenges, both personal and professional. It stands as an inspiring example of entrepreneurial success.
