Small business owners on the fast track

Published 8:58 am Friday, December 3, 2010

The ventures are diverse: a crane company, a wedding chapel, a custom powder coating firm.

The dream is the same: a successful business.

On Thursday, 16 small business owners completed a free, eight-week course called FastTrac NewVenture. The program is offered by the University of Georgia Small Business Development Center at Dalton State College.

FastTrac NewVenture targets the start-up entrepreneur or early stage business owner with less than $200,000 in revenue.

The program helps participants develop and evaluate their business model and create a business plan. Through the 10-module class, participants also learn how to set financial goals and analyze market research.

“These folks, with the exception of one or two, already have business ventures, but just barely,” said Rand Riedrich, northwest area director for the development center, which is housed in the James E. Brown Center at DSC. “Some of these folks are going to have multi-million dollar businesses. Some of these businesses will go belly up. This program is designed to keep them from going belly up.”

Teresa James, owner of the Ringgold Wedding Chapel and Event Center, said the program helped her realize a niche she hasn’t pursued, baby boomers. The chapel has traditionally catered to a younger crowd.

“I have searched it out and think it’s a very good avenue to do down,” James said. “A lot of them (baby boomers) are divorced, widowed. There are quite a few of us.”

Brenda Gass has owned D&B Custom Powder Coating in Trenton for almost five years along with her husband, DeWayne. One of the most important tools she’s taken away from the program is the “elevator speech.” Quite simply, the elevator speech is a 30-second business pitch. That’s roughly the amount of time you have to catch someone’s interest, before they move on — or get off — the elevator.

“It’s about communicating with your customers and finding new customers, going outside of the box,” Gass said. “I used the elevator speech just the other day, on Black Friday. I was out shopping and a person overheard me talking about my business. He came up and asked me about it, then 30 seconds later — boom — I had his business. I start on Monday.”

Frank Sullivan, president of Ellijay-based Cranes USA, said the elevator speech will come in handy when he’s speaking to officials representing large businesses or agencies, such as the Tennessee Valley Authority, who are pressed for time.

“I practice it in front of the mirror once or twice a week,” Sullivan said. “I know what I have to say quickly and get the point across. You’ve got to impress them quick enough so when you hand them that card, they’ll call you back. I guess what they’ve taught me is opportunity doesn’t strike often, but you best be ready.”

For information on the program call (706) 272-2700 or visit www.georgiasbdc.org. It is a product of the Ewing Marion Kauffman Foundation of Kansas City, Mo., and is sponsored by Georgia Power and Wells Fargo.