Category Archives: Starting or Growing a Business

Cedar Crest Woman Brews Up Business With Help From Nonprofit Lender

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Hannah Johnson in front of Cabra Coffee

Hannah Johnson

By Finance New Mexico

Hannah Johnson left Cedar Crest, New Mexico, to get a biology degree, and after a stint in shorebird conservation, she returned to start a coffee shop in her hometown in the eastern Sandia Mountain foothills.

The owner of Cabra Coffee, which opened in spring 2017, started making quality coffee at college. “My first job working in the industry was when I was going to school at the University of Puget Sound in Tacoma. It was just the coffee shop in the school, but we were getting coffee from a cafe in Seattle, and they would come down and train us. That’s where I first learned how to make coffee professionally.” Continue reading →

Nonprofit Lenders Lower Startup Funding Risk

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Business LoanBy Finance New Mexico

Entrepreneurs traditionally dipped into personal savings or tapped their friends-and-family network to fund a startup, and they used credit cards and home equity lines of credit to buy equipment or make payroll. If the venture stumbled and revenue evaporated, the owner faced years of compounding debt.

Those risks haven’t disappeared, but today’s business owners have more funding options, including a network of New Mexico nonprofit lenders. Continue reading →

WESST’s Holiday Pop-Up Shop Takes Artists Beyond Workshops

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By Damon Scott for Finance New Mexico

willajunejewelry and Reuseful Candles

willajunejewelry and Reuseful Candles are two of over 20 participants expected at WESST’s pop-up

The “pop-up retail” trend has helped many artists and entrepreneurs sell products and launch businesses in cities throughout the country. Pop-up shops allow artists and retailers to use temporarily donated commercial space to sell wares and land new customers.

Albuquerque’s WESST Enterprise Center hosted a holiday pop-up shop last year to showcase its artisan and “maker” clients as part of Manufacturing Day activities. The event was so successful that the nonprofit business development and training organization has scheduled the second incarnation for Friday, October 20. Continue reading →

Partnership-Style Loan Helps Cedar Crest Grocer Thrive

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By Damon Scott for Finance New Mexico

Triangle Grocery, Cedar Crest, NMThe era of big box retailers and internet giants like Amazon have made it easy to write off local independent businesses. But Rita Riebling, co-owner and managing partner of Triangle Grocery in Cedar Crest, has built a business that local and surrounding communities rely on. Nevertheless, you won’t hear Riebling say that running an independent grocery store is an easy task.

To stay relevant and keep business buzzing, Riebling has worked hard and made strategic moves at opportune times. She recently purchased the building that’s home to Triangle Grocery and bought out her partners so that she and her husband Morey would have controlling interest in the grocery store. Continue reading →

International Business Opportunities Thrive in New Mexico

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By Damon Scott for Finance New Mexico

A road map to exportingInternational trade and export opportunities have been a consistent bright spot in the New Mexico economy. Edward Herrera, director of the Office of International Trade at the New Mexico Economic Development Department, would agree.

The longtime trade expert hopes business owners will take advantage of the services his office offers.  Finance New Mexico asked Herrera what small businesses can do to boost their bottom line through exporting. Continue reading →

Farmington Manufacturer’s Growth Doubles With NM MEP’s Help — and ‘Poka-Yoke’ 

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By Damon Scott for Finance New Mexico

Tom Gibbons in his shop

It was a strategy Farmington business owner Tom Gibbons didn’t see coming. Let alone one that would help position him to achieve big results for San Juan Closet Works, his custom closet manufacturing company that specializes in storage and organization solutions for residential and business clients.

The New Mexico Manufacturing Extension Partnership (NM MEP) used a little Japanese-inspired ingenuity, “poka-yoke,” to help Gibbons not only grow business, but focus on his next goal. “I have a plan to retire in two years,” Gibbons said. “I’ve reached the ceiling for how much work I can do with two people.” Continue reading →

Enrichment Program Prompts Greater Interest in Venture Acceleration Fund

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By Sandy Nelson for Finance New Mexico

Tall Foods co-founders Andrea Romero and Adam Wachtor

Co-founders Andrea Romero and Adam Wachtor of Tall Foods, a 2017 VAF recipient.

Every early stage business needs capital to grow, but a company that lacks collateral to procure traditional debt financing and is too immature to interest equity investment can idle for years in a financing limbo.

In Northern New Mexico, the Venture Acceleration Fund (VAF) helps promising early stage startups get back in gear. And the VAF Enhancement Project now offers additional technical assistance to current and aspiring VAF recipients. Continue reading →

Successful Elevator Pitches Are Part Prep, Part Improv

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By Sandy Nelson, Finance New Mexico

Whether it’s made on an elevator or on the ground floor, the 30- to 60-second business pitch that’s named for the place it’s often made should sound unrehearsed and authentic even if it’s the product of exhaustive thought and preparation — which it should be.

The “elevator pitch” is a concise summary of a product, service or idea that is so intriguing or compelling that the listener wants to hear more. It’s the hook that catches the attention of the potential investor, client or collaborator. Continue reading →

Continuous Improvement Helps Belen Manufacturer Go Global

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By Claudia Infante, Projects Coordinator, New Mexico MEP

Sisneros Brothers Manufacturing embodies the entrepreneurial notion that finding the right niche can transform talent into business success.

Avenicio Sisneros, founder of the Belen company, began as a cabinetmaker in the 1950s but shifted to making and installing sheet metal ducting for houses in 1987. With him were sons Martin, Alex and Philip.

Demand quickly grew beyond the residential market, and the company began manufacturing and installing ductwork for larger commercial customers. By 1990, Sisneros Brothers abandoned installation altogether to focus on manufacturing custom sheet metal ductwork for a wide variety of customers. Continue reading →

Investment in Knowledge Can Pay Early Dividends

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Market intelligence

By Finance New Mexico

Before putting money into a new venture, savvy entrepreneurs make another kind of investment: the dedication of time for market intelligence. They learn everything possible about the market they wish to enter, who’s succeeding or failing in it and what alternative products or services are currently filling the need the entrepreneur aims to meet.

Market intelligence helps predict demand for a product and can lead to changes in the proposed offering or result in a pivot to another market sector. Continue reading →