Tag Archives: SBA

Knowing When to Hold and Fold Works in Business and Poker

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Barbara Kline

Barbara Kline, Founder and President, Breakthru Communications

In some ways, starting a business is a lot like playing poker: An entrepreneur always has to weigh the odds, give herself room to maneuver and know when to hold or fold.

According to recent data from the U.S. Small Business Administration, 31 percent of businesses fail within the first two years and half within five years. On the other hand, more than 25 percent of all business startups survive for at least 15 years.

A few — but not many — companies succeeded despite a firm hand on the till that kept them from taking a few risks by investing in growth and innovation. For every company that succeeded wildly right after the founder had mortgaged the house and maxed out the credit cards, hundreds went bankrupt or were saddled with debt for many years.

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‘Made in America’ Heats Up

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2011 article describes successes enabled by the Small Business Jobs Act.

Joseph Armijo has consistently created jobs: his business added 12 employees over the past 10 years – about one a year. ButArmijo’s Albuquerque-based company, Four Winds Mechanical HTC/AC, may soon accelerate its rate of hiring. With help from the American Recovery and Reinvestment Act (ARRA), Armijonow has the resources to bid on large contracts that, if awarded, will allow him to quickly hire up to five additional employees. Four Winds Mechanical provides plumbing, fuel (gas) process piping, sheet metal work, and heating and air conditioning services, including equipment repairs.

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Businesses, Like Life, Have Stages

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Paul Goblet

Paul F. Goblet, Former Financial Advisor, NM SBIC

Few businesses follow a predictable path and timeline from one stage of life to the next. Some linger for a long time as startups, while others dash directly from startup to rapid growth. Knowing the life cycle of a typical business can help an entrepreneur know where to find capital to reach the next stage.

The seed or startup stage starts with an idea or a prototype for a product or service. At this stage, entrepreneurs either tap friends, family members or other personal contacts for funds, or they seek angel investors, SBIR grants, micro loans or very early stage venture capital.

When a company is preparing its product or service for a market launch, it’s in the early stage of life. Continue reading →

SBA Seeks Feedback at Event

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John C. Woosley

John C. Woosley, District Director, SBA NM District Office

Janice Lucero was convinced people would pay a little more to renew their driver’s license or car registration if they could do it quickly from a convenient location with friendly service. Lucero turned her conviction into MVD Express, a $5 million company that serves 22,000 customers a month from its 11 New Mexico locations. Lucero’s success and community involvement led the U.S. Small Business Administration to name her the New Mexico Small Business Person of the Year. The award earned Lucero a trip to Washington D.C. where she’s in the running for national recognition.

The New Mexico district of the U.S. Small Business Administration will honor Lucero and other small-business leaders from 11:45 a.m. to 1:45 p.m. June 2 at the state’s Small Business Week Award Celebration luncheon at Embassy Suites Albuquerque Hotel, 1000 Woodward Place N.E.

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SBA’s Entrepreneur Training Expands in NM

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John C. Woosley

John C. Woosley, District Director, SBA NM District Office

Merlin Herbert believes anyone can run a business if they have the right training. Herbert, the owner of a 19 year-old Bloomfield-based welding company, participated in the e200 Emerging Leaders training program in Gallup last year. “The training helped me become a better manager,” he says.

An initiative of the U.S. Small Business Administration, the e200 Emerging Leaders Program is a national curriculum that provides business owners in underserved markets with training, networking, resources and motivation to grow their business and create jobs.  Now in its fourth year in Albuquerque, the program will be offered in Farmington this year for the first time.  The training, which is valued at over $8,000, is free of charge and will be conducted from April through November, 2011, in both locations.

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