<Interview with Benny StaRomana>

 

The Straight Shot

I think the take aways and observations from today's episode will include:

 

The SBDC is a resource for new and existing business owners that helps them with business planning as it relates to growth, repair, and start up.

 

And it is paid for by the state and federal governments as a way to support small business in the United States. Our country was built on the backs of small business. There are no costs to the business owner.

Specific situations where they might be able to help include:

•  Needing capital or cash flow to support the business  (business loans, outside investors, etc.) for start- up, expansion, or repair
• Needing growth and expansion from a business strategy perspective
• Considering building their exit strategy, where they are looking to sell their business

 

They understand the leadership and management needs of business operation and know what resources will be needed for a business' success and can point you in the right direction in any of the 4 areas that Benny mentioned in his stool analogy:

• Management -they offer education in leadership, organization, business direction, and other areas, they also can point you to interim CEO resources or if necessary
• Administrative -they point out and make you aware of your needs in this area which includes: insurances, legal filings, accounting, finance, etc. (the back office)
• Marketing -they offer classes in marketing and can point you to a marketing firm or interim CMO if necessary that's where our relationship intertwines with the SBDC. We also refer them clients that are in need for their services including additional capital, etc.
• Production -they help you to think through expertise in this area as well as how you are going to deliver that product or service - whether  you are making widgets or providing services

 

That really reinforces the pyramid analogy that I shared in the last episode. But I love his analogy as well.

 

But for the time that you work with the SBDC, they are helping you to focus in these areas. They really help business management through planning and they are a resource to point you in the right direction for things that should be outsourced to an expert.