The Joy of My Job

By Loyd Hambrick
Chief Operating Officer

A privilege - Today I had the opportunity to do something few people have the privilege to do and the results are the reason I do what I do. For the past several months, I have been working with an individual committed to pursuing a dream of starting a business; today was the first meeting with potential lenders. Many don’t realize the work that must be completed prior to that first meeting and Joe (not his real name) was no different. What is unique is his commitment and his teachable spirit.

The plan - The first drafting of his business plan was destined for the circular file as it required a great deal of work from the reader, in this case a lender, to find any reason to support the plan. I’m sure it wasn’t easy for Joe to hear my comments and suggestions but he was extremely teachable, a trait absolutely necessary for the process of business consulting to work, and he went back to work. Eager to make changes in his approach, he took the instruction I gave and came back with a totally different focus in his plan. There were still several changes that needed to be made and I’m sure Joe wondered what he had gotten himself into, but he never backed down. In addition to seeking help from West Company, Joe sought out industry-specific counsel because though he is experienced in the industry, he recognized he doesn’t know it all. Working many times late into the night, Joe produced a plan worthy of submittal for loan consideration.

The meeting – Having the opportunity to sit alongside someone willing to dream and fight for his dream is truly an honor. Listening to Joe answer the many questions asked by four different lenders, it was evident he had done his research and was confident with his plan but then I knew that already. I was very glad I had been honest with him through our many sessions, had insisted he be confident with his plan, and that his projections were based on reality and not some pie-in-the-sky belief. I remember and shared with the committee how Joe’s realization that these projections translated into his ability to pay his bills and support his family of five drove his desire to "get real". Every question the lenders asked, and there were many, Joe did not hesitate and always had a good sound answer. It was great fun to watch!

The result – It is a great feeling to walk out of a potentially disappointing meeting confident in the performance! After receiving a unanimous decision from the committee to move forward with underwriting, we were both on cloud nine. I encouraged Joe, “We still have a long way to go, but you should celebrate the accomplishment of this goal! You have done a very good job!” Today’s mission was not for his plan to be approved but rather submitted for underwriting and that is exactly what happened!

The joy – I have several times sat in front of lenders and weathered the barrage of questions; having the opportunity to support someone daring to dream is much rarer and a feeling I will never forget. I am grateful for Joe’s teachable spirit and his willingness to allow me to help. Thanks, Joe. Stay tuned for further updates and the Grand Opening!

So many books to choose from...

by Heather Gurewitz
Mendocino Women's Business Center Director

One of West Company's blog reader sent us the following question:

There are so many business books out there, how can an enterprising person tell which ones are worth their time? What are the common denominators of a good business book?

Unfortunately, there is no easy answer to this question. As they say, "You can't judge a book by its cover." However, the following could be used to decide if a business book is right for you:

Avoid: Books that put easy and rich in the same sentence. Anyone promising easy riches or easy steps is probably full of it (and I don't mean riches).

Look for: Books that have specific strategies to help trouble shoot the problem you are trying to solve. Always look at the table of contents and see if it looks like it will address your interests. If they have worksheets all the better. Some even come with compact discs with templates that can help you apply the techniques discussed.

Avoid: Books that are overly technical for your knowledge base.

Look for: books that you will enjoy reading. If you are thinking about buying a book, open to the first page of chapter one, and start reading. If you are lost by the end of the page, it may not be right for you. And hey, if you spend a lot of time on the road, you may want to think about the audio version. Personally, I love audio books, mainly because I can drink a cup of tea, work on a jigsaw puzzle, and still absorb information. I still recommend previewing the book. Some of the best books have the worst audio voice recordings. Make sure it's tolerable.

Avoid: books that offer free money or grant sources for small business. Those are most definitely scams and a waste of money.

Look for: some of the classics like "Seven Habits of Highly Successful People," "Getting to Yes," or "Guerilla Marketing." These books have been sparking innovation in business for years. Or if you are looking for something with specific information, Nolo Press makes a number of (usually thicker and dryer) books about the legal aspects of starting and running a business. If you are looking for a good book on social media and viral marketing, check out "The New Rules of Marketing and PR" by David Meerman Scott or "The Power of Pull" by Hagel, Brown, and Davison.

Avoid: Books with big pictures of the author on the cover. (Note: This is questionable advice, but I always follow this rule. Again, this is my opinion and not that of West Company or the SBA, the WBC or SBDC. And in all honesty I do have a couple of really good business books with big old faces on them).

Finally: Don't spend money on something you don't actually have time to read.

West Company invests a lot of our resources into keeping up with trends, acquiring information, and developing workshops so that instead of spending months getting half way through a business book, you can take a West Company workshop and get the same information in 3 hours.

Of course there are some cases when that very special book is just what you need, get it from a local and independent book store!