Tamlyn Willard hopes
her fledgling business will grow by word of mouth.
And she's not just talking about referrals. Willard aims to get
her specialty, key lime pie, into the mouths of as many
prospective clients as possible - even if she has to give it away
for free.
"Usually, people come back and buy," said Willard, owner
of Charleston-based Sublime Lime Pies & Cakes, which also
sells cheesecakes, key lime cookies and a treat called "Dirty
Pie on a Stick" - a chocolate-coated wedge of frozen key lime
pie.
But the entrepreneur knows it will take more than tasty products
to make her six-month-old wholesale and retail venture a success.
"You have to have a support network," said Willard, who
formerly owned a catering business. "You cannot do this
alone."
New business owners "don't know what they don't know,"
said John Clarkin, who teaches entrepreneurship classes at the
College of Charleston and heads the college's Tate Center for
Entrepreneurship.
Clarkin recently analyzed data collected on 800
"nascent" entrepreneurs, defined as people in the
process of launching a business.
His research showed that entrepreneurs who seek outside business
counseling or training have a much better chance of succeeding.
Those who don't seek expert advice often get in over their heads,
Clarkin said. "The mistakes are very expensive."
Entrepreneurship programs have gained popularity as Americans
increasingly depart the traditional workplace to go into business
for themselves.
The number of U.S. businesses with no paid employees grew 5.7
percent over a one-year period, from 17.6 million in 2002 to more
than 18.6 million in 2003, according to a recent U.S. Census
Bureau report. That's the biggest jump in self-employment since
the agency began releasing such statistics in 1997, the report
said.
These so-called nonemployer businesses are defined as companies
that generate at least $1,000 in sales and are subject to federal
income tax. Nationally, they made up more than 70 percent of all
businesses, with sales nearing $830 billion.
In South Carolina, the number of nonemployer businesses grew 6.3
percent between 2002 and 2003, the 10th-fastest growth rate in the
country.
Charleston, in particular, is a popular spot for people launching
business startups. They might be in the right place: Entrepreneur
Magazine recently ranked the Holy City as the No. 4 midsize city
in the country for starting and growing a business.
Great
expectations
But even those who successfully launch an enterprise aren't
guaranteed smooth sailing ahead. About 66 percent of new
businesses fail, said Vicki Waller, who heads the Small Business
Development Center in North Charleston, serving Charleston,
Dorchester and Berkeley counties.
About 75 people visit the center each month with dreams of working
for themselves. But many have unrealistic expectations about what
it takes to get a new business off the ground, Waller said.
One of the biggest misconceptions is how much money is needed at
the outset. Before launching a new business, the center advises
entrepreneurs to sock away enough cash to cover several months'
worth of expenses for items such as rent, utilities, insurance and
marketing.
In addition to advising entrepreneurs on financial matters, the
center's consultants can assist them in crafting a business plan,
plotting marketing tactics and bidding on government contracts,
among other things.
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Waller agrees that
would-be business owners can improve their chances of success by
being well-informed.
Adaptability is important, too, she said. Entrepreneurs need to be
willing and able to change their business to meet customers'
needs.
Another key factor for success is determination.
"(Successful) entrepreneurs don't see fear. They're adamantly
determined that they'll make it," Waller said. "Those
people who are gun-shy going in may not have the guts for
it."
Determination helped local entrepreneur Alison Standard launch a
thriving promotional products business eight years ago.
After working for several years in advertising sales, she decided
to strike out on her own, with the goal of making better money.
She first got into the promotional products industry by buying
into a franchise. But shortly after, she decided she'd be better
off creating her own company.
"I'm willing to take a risk," she said.
One of her biggest gambles came a few years ago, when she bought
some rundown property off Grove Street in downtown Charleston. She
renovated the site, which now houses some small apartment
buildings and her office.
The risk-taking paid off. Today, her company, A. Standard
Enterprises Inc., has clients across the country in industries
ranging from hospitals to hotels to manufacturers.
While tenacity helped her succeed, Standard also credits her
business accomplishments to outside help. When she first got
started, she worked with the Small Business Development Center to
create a business plan. And she's a firm supporter of networking
and mentoring.
"I believe in the value of sharing information," said
Standard, who started a networking group for professional women.
"It enhances us personally and professionally."
Standard also made contacts through networking events hosted by
the Center for Women in Charleston.
Getting connected
The Center for Women began organizing such get-togethers in 2003,
at the urging of local women who were interested in starting or
had started businesses in the community, said Jennet Robinson
Alterman, the center's executive director.
The monthly networking events, dubbed the Entrepreneurial Women
series, have covered topics such as sales strategies, customer
service, managing employees and marketing. The next one is Nov. 7,
when retail veteran Bob Siegel will discuss how to turn a
struggling business around.
Willard, of Sublime Lime, said she's met many business contacts -
and friends - through such networking meetings.
One of those friends, Kristian French, will be sharing retail
space with her when she opens her new store next month at 829
Savannah Highway in the Avondale section of West Ashley. French
owns Good Dog Bakery, specializing in all-natural, gourmet dog
treats. A grand opening for the shops will be held Nov. 12.
Thanks to her business research and strong support network,
Willard is confident that her new venture has staying power.
"I see this as a company that my grandkids can run," she
said.
Caroline Fossi covers retailing. Contact her at 937-5524 or cfossi@postandcourier.com.
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