Why You Should Meet These 9 Small Businesses Trying to Grow and Succeed

Recently, I served as a judge on a presentation of 14 businesses that had completed a 90-day, 12-session training program developed by Founders First Community Development Corporation. The goal of the program is to support small businesses owned and operated by diverse founders.

Businesses in attendance that evening had revenues ranging from $250,000 to $1 million. These were not startups and none expected to raise venture capital. This was a representative sample of what America calls small family businesses that form the backbone of entrepreneurship at a very local level.

Most of them serve a small geographic area and are very clear about what problem they are solving. Their dilemma, however, is classic: how can they increase their turnover by a few million and recruit more employees?

In the United States, nine million businesses have fewer than 20 employees. Four million have between 1 and 4 employees. It was wonderful to listen to the presentations, because sometimes it’s very easy to get blinded by the billions floating around in Silicon Valley. This cohort was the courage of the game – the desire to take ownership of their own destiny.

I very much support this segment of our society. I believe in chasing the dream. Let me share some of the companies.

Growler, Jorge Ruiz: The principle is simple. They have trucks that bring rental equipment back to the job site or to the customer. Their problem: There’s high demand, so they need financing to buy another truck.

Harden Enterprise Services, Clyde Harden Jr.: The company is located in Texas and performs disaster recovery and restoration operations. Texas is a good place for this, and recently San Diego could qualify. Same problem: they need financing to develop.

Authentic Muay Thai Supply, Chelsea Pureza: They make authentic gear for the fighters of this sport. I’m not MMA, but they have loyal customers. I like when I learn something new.

IREP, Kelly Johnson: They remove waste from commercial and residential buildings. They recycle of course, but what I like is that they do difficult work (what to do with the old sofa) that most people don’t want to do themselves.

Pure Health Alliance, Sophie Chang: Her company combines traditional wisdom from the Far East with modern medicine to prioritize wellness.

Center for creating change, Ebony Butler: She creates therapeutic maps to promote understanding and healing.

ESCO Aerospace Mfg. Yvonne Escobedo: It manufactures complex aircraft parts using C&C machines. She is eligible for contracts as a minority contractor. It’s certainly fundable, but it needs help understanding the defense system.

Let’s stop for a moment. What I’ve seen in these cohorts, and what I often see in different startups that come to me for investment or mentorship, is a lack of financial understanding.

Balance sheets are a bit of a black hole for many entrepreneurs, and the nuances of debt, lines of credit, and income-based financing aren’t taught as often as they should be, in my opinion.

Almost all of the presenters were “product-market fit,” but getting to the next level really requires a deeper understanding of “money”: where it goes, who it goes to, why it goes, and what the investor’s expectations to get everything. of that (and maybe a little more) in return.

Crease Beast, Matt Jones: The product is a small foam insert that fits into a sneaker to prevent creases from forming at the front. I was stunned. Is this really a problem? Well, Senturia, once again you have proven your limits. The company has $500,000 in sales with backorders. Eh. Turns out this crease thing is a big deal for sneakerheads.

JCiCréatifs. Jaren Collins: This guy is the epitome of charisma and personality. His business is all about making top-notch videos. I don’t care if they’re on point or not, staying with this guy would be a treat.

In short, an excellent evening. Small businesses are the backbone of America. Believe in the dream.

Rule #807: “It’s a Small World (After All)” — The Sherman Brothers, Disney Songwriters

Senturia is a serial entrepreneur who invests in startups. Please email ideas to [email protected].