unleashing
national impact
igniting local
transformation
Acquiring early-stage investors was difficult due to the industry focus of the geographic region. Obtaining the high level of funding needed was also an obstacle because raw materials, testing, and manufacturing of the company’s e-cargo bikes was more capital intensive than other industries’ products.
"Our SBDC consultant was such a good listener! She heard our successes and frustrations and helped push us in the right direction."
The SBDC provided connections to funding sources and to experts who could help in very specific areas such as importing and exporting as well as military uses.
Fleet Cycles made a pivot to focus on military e-cargo bikes and they ultimately qualified for the Small Business Innovation Research (SBIR) program in which they were awarded several government contracts.
As a student who built customized fishing rods as a hobby, Ian had a steep learning curve to becoming an entrepreneur.
"One of the obstacles I had to overcome was starting from scratch. I knew nothing about running a business. I relied heavily on the SBDC. So much of where I am would not have happened without Patrick's help."
The SBDC helped Ian with his business strategy and preparation for pitch competitions. He was named a winner by a panel of judges for the Pulse Competition in October 2023, and he was also voted as the audience choice winner at that competition. "When I won at that event, I was able to use the winnings to really grow my business. I was able to hire a website designer and add ecommerce to my website. I also was able to pay booth fees to exhibit my products at outdoor expos," Ian said. At his first expo in March of 2024, Ian made great connections. "The expo was huge for promotion of Hackett Rods," he said.
When Taps and Tackle Co., a local bait shop that also offers guide services, needed some of its existing fishing rods repaired, Ian started a partnership with them and now offers repairs as part of his standard services. Fall Line Outfitters Co., a Stevens Point shop for outdoor gear, also discovered value in Ian's services and asked him to teach a rod-building class.
Both co-owners had experience working for a chemical distributor, but they quickly learned that running a worldwide chemical supply distribution company was much different than working at one.
"Our SBDC consultant was such a good listener! She heard our successes and frustrations and helped push us in the right direction."
The SBDC provided help with creating a business plan and financial statements. He helped the owners of ChemCeed understand how to organize their accounting details. The entrepreneurs quickly discovered that growth would come from expanding into diverse industries and basing new products on current customers’ needs.
The co-owners created CF Products, a division of ChemCeed, in response to customer needs during the COVID pandemic and they now also work with rubber and metal working as well as personal care industries along with several others.