Seize the opportunities

Six months after we opened Cheshire Cheese, the retail space next door became available for lease and the primary lessee offered us the master lease. (He also gave us his Pacific Heights mailing list and all his demographic studies on the neighborhood!)  We discovered that our sublease was already 75% of the master lease so we jumped at the chance to take over the entire lease.  We successfully negotiated a new 10-year lease with the building owner.  Now we could double our size with the security of a long-term lease.

With limited capital to cover the expansion, Michael and I created a new partnership.  We found two women who could bring new strengths and additional capital to the business.  Tara was a graphic designer and display expert and Lynn was experienced with HR and motivating employees.

With the new next-door location, we added a small café and expanded our identity.  Cheshire Cheese became Cheshire Cheese & Mad Hatter Tea.  With the infusion of additional capital, we could now afford to hire more part-time employees.

Communicate openly

We were now four owners who each brought different skills-sets and personalities to the business.  We had our differences but we were in agreement where it mattered most: our vision for the business, the impact we wanted to have in the community and, most importantly, how we would manage the business together.

We decided on a consensus-driven approach to management.  (An early philosophical decision was to continue only offering vegetarian items and to not expand into wine sales.)  We created a written agreement that reflected our values and our equal ownership.

We held “official” business meetings every Wednesday after the store closed.  We used this time to plan work schedules, discuss personnel, review financial statements, prepare for holiday celebrations, and eat all the free samples that new vendors would drop off for us to taste.  Transparency and honesty was essential for us, so we made sure we talked about money — how we were doing both by the day, the month and based on our annual budget.

Build on lessons learned

Every day was a team learning experience.  We learned about the subtleties of food products, how to serve customers well, how to make strong relationships with vendors, and how to follow health department codes.  Through a lot of trial and error, we were also getting better at running the business profitably, managing it jointly, and working through management and personnel challenges along the way.  The best lessons learned were from hands-on experience.

Plan our exit

After running the business together for five years, two of the partners wanted to move on – one to another business and the other to go back to school.  We all decided we would sell the business.  To get ready to sell, we had to learn how to value our business as an asset, organize our internal systems, leverage our long-term lease, and negotiate with potential buyers.  After several months of planning and negotiation, we successfully sold the business to new owners!  (Cheshire Cheese & Mad Hatter Tea continued to operate for 15 more years.)

Business partnership means attending to both the business and the relationship

Like a business with one owner, a  business with multiple owners must be based on a viable business concept and a solid plan for marketing, money and management.  Unlike a business with just one owner, co-owners must be constantly attuned to the needs of both the business and the owner relationship(s).

Starting off, Michael, Tara, Lynn and I were aware of the qualities that each of us brought to the business – our personalities, passions, purpose, work styles and areas of expertise.  Once we were in business together, we had to pay attention to the dynamics between us — how well our individual strengths or weaknesses meshed, and how well we communicated and made decisions together.  Our written partnership agreement was key — both as a guide for managing the business and as a road map for how we would approach our business exit.

Owning a business with others took a lot of work!  But it was also incredibly rewarding.  With business partners, we didn’t have to tackle business challenges alone and we all got to share in the business’ success.

Are you starting a business in partnership or already managing a business in partnership? At Paul Terry & Associates we help both new and established business partners understand key business issues and how to work best together.  We help co-owners define roles, address key financial issues and minimize areas of conflict.  We also help business owners write partnership agreements and create business action plans so that they can move forward with clarity.

The post Managing my business in partnership appeared first on Paul Terry & Associates.

Behind the counter at Cheshire Cheese

Know your business partner

My business partner, Michael, and I were good friends before we ever thought to go into business together. We lived in a house with six other people and spent a lot of time in the kitchen. We enjoyed cooking big meals and feeding the rest of the house.

At the time, Michael co-owned a small manufacturing business. As we became friends, I volunteered to help in his business. It was soon clear that we had complementary work styles and had a similar approach to business management. We both saw small business as a vehicle to the principle of “right livelihood” and shared a collaborative approach to decision-making. It didn’t take long before we connected on a common business idea and decided to start a food retail business together.

Start with a good foundation

By the time we agreed to go into business together, we had a solid foundation for a business partnership. Michael had already started a business from scratch and had the technical and computer skills essential for smooth business operation. I had been to business school and had helped other friends start businesses. But what was most important was that:

• We liked and trusted each other,
• We knew we could work well together,
• We had complementary skills,
• We were both committed to working hard, planning ahead and taking on the risk, and
• We shared a passion… for gourmet food.

Agree on a viable business model

Our first idea was to start a catering business, making and delivering gourmet lunches to corporate offices. We thought we could use our home kitchen to keep it simple and lower costs. But we quickly learned that making food in a home kitchen wouldn’t be legal. It also couldn’t easily scale.

We then researched taking over an existing restaurant. We found a restaurant that we could acquire. We researched the legalities related to using the kitchen, building out the space, and hiring staff. But the size and complexity of the restaurant was going to require more capital than we had or could raise.
Given our skills, timeline and budget, we decided to compromise and start a gourmet deli.

Do the shoe leather research – street by street

We scouted several commercial strips in the city looking for a location with good foot traffic and reasonable rent. We pounded the pavement on Haight Street, Potrero Hill, West Portal, Noe Valley and Upper Fillmore. Finally, we found an available narrow storefront on Fillmore Street. It was an old laundromat available for sub-lease from the tenant next door, a tennis racket repair shop.

The space was the right price and we negotiated a fair lease. There was a hospital nearby and many new retailers moving into the neighborhood. But now we had another problem – competition! There was already an established deli right across the street. So we pivoted to focus on cheese. We signed the sub-lease and named our new gourmet cheese shop Cheshire Cheese. We were off and running!

Share the load

We spent the next six weeks building out the storefront. It was a community effort. While we focused on legalities and plans, we recruited friends to help with carpentry, plumbing, interior design and graphics.  We figured out how to share responsibility for the business, each taking charge of certain aspects given our interests and skills.

Our partnership success

The success of our partnership and, I believe, any business partnership, was based on:

• A shared passion and common purpose
• Compatible personalities and work styles
• Complementary skill sets and areas of business expertise
• Good communication and joint decision-making, and
• A solid plan for how to market and manage the business… and make it work financially!

My partnership with Michael started with Cheshire Cheese and continued on into two other businesses.  This hands-on business partnership experience continues to inform my consulting work today.

Owning a business with others can be an incredibly rewarding experience — but to work well it must be based on a solid foundation and good planning. Are you starting a business with others? Check out these three important steps when considering a business partnership or joint venture.

At Paul Terry & Associates we help both new and established business partners understand and assess what they each bring to the partnership and how they work together. We focus on partners’ expectations, strengths and weaknesses. We help define roles, address key issues and minimize areas of conflict. And then, we help create a written agreement and a plan for how to move forward together.

The post My first business partnership appeared first on Paul Terry & Associates.

Do your business skills match your business’ complexity?

I recently shared six tips on this topic and asked other small business owners about their experiences.  How did their business skills match the complexity of their business when they first opened?  How have they dealt with this tension throughout their business’ evolution?  What advice would they want to share with others?

In previous posts Heidi Gibson of The American Grilled Cheese Kitchen and Rachel Saunders of Blue Chair Fruit shared their stories with us.  Here are two more business owners tackling complex issues and leveraging their management skills.

Elizabeth Leu
Fiddlesticks

When Elizabeth Leu started Fiddlesticks, a children’s boutique in Hayes Valley, she thought she was prepared.  She first worked for someone else and learned as much as she could about the retail business.  Elizabeth also took the Renaissance Entrepreneurship Center Business Planning class.

She started her business with a solid foundation of hands-on experience, working for others, and thoughtful planning. Yet she couldn’t prepare herself for what it would actually feel like when she was completely responsible for her own business and all its complexities.

“As a small business owner you have to be the master of all in everything you do, and that’s not easy.  You have to wear ALL the hats and ideally, they should all fit.  I think management capacity is finding the correct fit with all those hats — and that’s hard!  It takes a lot of time and experience to get them all to fit.”

Elizabeth’s advice:

Learn as much as you can about every role in your business.

“You may love only a few of those hats but you have to figure out, master and tolerate them all — at least in the beginning until you can outsource.  Once you get strong enough to outsource, you still need to understand how it all works to keep a watchful eye on the whole operation.”

Stay positive and just keep going.

“I have worked very hard to grow my business and I have had some significant setbacks.  With every setback I can either choose to learn from it or become bitter and harbor frustrations.  I have worked hard to learn from them.  All of the setbacks were complex and difficult, especially because it was uncharted territory for me.  But I learned and I am still learning.  What is it they say, ‘two steps forward, one step back’? As long as you move forward, business complexity feels easier because you keep breaking it down, tackling it piece by piece.”

Claire Keane
Clairesquares

Claire Keane, owner of the artisan, handcrafted sweet treats company Clairesquares, says that her business skills did not match the complexity of her business when she started.  She had a steep learning curve.  But Claire gained the skills she needed by seeking out specific business knowledge and support and her daily experiences in business brought many lessons learned.

Claire’s key steps for developing core business skills:

Write a business plan.

Claire took the 14-week Business Planning Class at the Renaissance Entrepreneurship Center and wrote a business plan.  “To this day, I frequently remember key pointers from each class.”

Join an incubator.

Claire joined La Cocina’s Incubator Kitchen and received the help of that community and all their support services.

Attend lots of workshops.

Claire learned from others to increase her skills.  “Whenever there was a workshop relevant to my lack of skills, I made sure to attend it.  I was able to take tips from each training and apply it to my business immediately.”

Develop a support team.

Claire knew that she could not do it all alone.  “It was very helpful to have a business mentor, new business friends with similar start-up business pains and other friends and family to lean on for advice to get me through the learning curve.”

Keep at it, even through failure.

Ultimately it has been Claire’s tenacity and her perseverance that has made her business a success.  “No amount of workshops can prepare you for real world experience.  In the end, I learned from trying, failing, and trying again.”

Check out these additional tips on balancing business skills with business complexity.  What has worked for you and your business?

The post Business skills and lessons learned appeared first on Paul Terry & Associates.

There is a lot we can learn from other small business owners.

I recently shared six key considerations for matching business skills with the complexity of a business. Then I shared advice from Heidi Gibson of The American Grilled Cheese Kitchen.  Now, here is some advice from another successful small business owner…

Rachel Saunders
Blue Chair Fruit

Rachel Saunders would describe herself as a complete neophyte when she started Blue Chair Fruit.  But, “what I lacked in experience, I had in determination.  Also, I had several bosses who were terrible managers and their negative examples helped orient me towards how I did NOT want to be!”

As Rachel’s business grew she realized that she had to pay attention to her business structure.  Instead of thinking about her business just in terms of herself or the people who worked for her at the moment, she started to focus on key roles and how they functioned together to support the business.  “Once I was able to step back and look at the staffing structure of my business, I was able to manage in a way that made more sense.”

Learning how to stream-line the business’ operations in general was also an important learning for Rachel.  “Big corporations can afford to have extra staff or waste, but a small or micro business cannot!  Over time, I was able to streamline things dramatically.  A leaner business is a stronger business, as long as everything is getting done!”

At one point Blue Chair Fruit Company was selling at eight farmers’ markets a week.  This was great exposure but ultimately not the most profitable sales channel.  “I realized that selling more product through a wholesale distributor, despite the lower profit margin, was actually a much cleaner, easier way to do business.  Since we scaled down to our three best farmers’ markets, our bottom line has improved!”

Rachel’s advice for success:

Take a step back and ask yourself if everything you are doing in your business is really necessary.

Determine what is actually working and worth the effort.  Scaling up is not always the answer.  Sometimes your business should be scaled back to increase profitability.  Look at your staffing.  Be clear about when and where you need the help.  How can jobs be structured to maximize efficiency?

Keep track and analyze your data.

Understand what activities lead to better returns.  Don’t commit yourself to a sales channel where you aren’t making any money.  Exposure alone isn’t good enough!

For Rachel and many other small business owners, business growth isn’t just about getting bigger.  It’s about developing the right business model and scale for success.  What does business success mean to you?

Check out Heidi Gibson’s advice for small business owners and my six tips for matching business skills to business complexity.

The post Defining success appeared first on Paul Terry & Associates.

In that tradition, I asked some of my clients and past students to share their thoughts on a common growth challenge for small business owners: balancing business skills with the complexity of the business. I recently shared six key considerations on this topic. I was curious to hear from small business owners in the trenches.  How did their business skills match the complexity of their business when they first opened? How have they dealt with this tension throughout their business’ evolution? What advice would they want to share with others?

Here is one story…

Heidi Gibson and Nate Pollak
The American Grilled Cheese Kitchen

When Heidi and her partner Nate opened The American Grilled Cheese Kitchen they already had general business expertise, people management skills and financial management experience but they were new to the restaurant industry and lacked specific industry skills. Heidi and Nate’s approach was to be honest with themselves about their own abilities and get help. “We took a cold hard look at what we did and did not know how to do, and then we recruited advisers who could teach us, or hired staff who already had the skills we lacked.”

Heidi and Nate took a similar approach when opening their second location. They had never run a multi-unit operation before. They sought consulting from other multi-unit operators, and hired general managers for each store who had come from multi-unit backgrounds. “We tasked the managers in the stores with the responsibility of ensuring consistency across the stores, not just within their own. For us, hiring managers who brought experiences and skills to the table that we did not have ourselves was crucial.” With the added complexity of two locations, Heidi and Nate decided to outsource their bookkeeping, too. “We hired a bookkeeper who had deep experience with multi-unit restaurants, which brought more expertise to our operation and freed up our time to handle other issues.”

Just this month Heidi and Nate opened their third location and published a cookbook, Grilled Cheese Kitchen: Bread + Cheese + Everything in Between!

Heidi’s advice for other small business owners:

Be brutally honest about what you are good at and what you’re not.

For the things you are not good at, find a way to outsource them to someone who is good at them. This goes double for bookkeeping and accounting if you are in a high-volume, low-margin business.

Ask for help.

There are a lot of resources out there for growing business owners, including Renaissance, SBDC, ICA and most importantly, other business owners. People want to see you succeed and you’ll be surprised at how much they want to help.

Don’t skip financial forecasting.

Many small business owners underestimate their financial management needs and make mistakes with finances when starting or expanding a business. The worst-case scenario is running out of cash, and sometimes growing can really chew up cash. You’re in a much stronger position to secure financing before you run out of cash rather than waiting until you’re down to the wire. Take the time to forecast cash flow, accounting for your growth needs, and start investigating funding options early rather than late.

Check out these tips on balancing your business skills with your business’ complexity and stay tuned for more words of wisdom from small business owners!

The post Business advice from the field appeared first on Paul Terry & Associates.

This is a wonderful thing! It is important to recognize small businesses and their impact in our communities. Small business owners deserve our attention and our thanks because we all benefit from their passion, dedication, innovation and hard work.

I am thankful to all the small business owners that I teach and work with every day, and for the small businesses that improve life in my neighborhood. I am also thankful to the organizations and small business support professionals who make it possible for entrepreneurs to launch and to succeed.

Last month Renaissance Entrepreneurship Center gave awards to three remarkable women whom I had the pleasure to teach in Renaissance’s Business Planning Class. This video, which highlights their stories, illustrates why it is so important that we support the small businesses and small business owners around us.

Take a look, and be sure to thank the entrepreneurs in your life. They need and deserve our support and encouragement… not just this month but all year long!

Happy Thanksgiving.

The post Happy Entrepreneurship Month – Give Thanks! appeared first on Paul Terry & Associates.

This summer SF Chronicle included an interview with Andrea Kenner, owner of the Sebastopol boutique, Tamarind. Andrea took the first 14-week Business Planning Class offered at Renaissance Marin in the Fall of 2012. The article also plugged another Renaissance (SF) Business Planning Class graduate, Ali Golden, “Oakland’s It designer”.

Rusty Olson, Renaissance Business Planning Class graduate from Spring 2013, opened Rusty’s Southern in the Tenderloin this Spring and has received nice press from Inside Scoop SF and the San Francisco Chronicle about his delicious Carolina-style BBQ.

In August I opened the paper and saw the smiling face of Beth Vecchiarelli, BP Class graduate from Fall 2014 and owner of Preserved in Oakland. Beth teaches classes on traditional methods of food preservation and her store carries D.I.Y. supplies for everything from cheesemaking and fermenting to pickling and dehydrating.

Blake Joffe, BP Class grad from Winter 2011 and co-owner of Beauty’s Bagel Shop was mentioned in a New York Times article, “Why Is It So Hard to Get a Great Bagel in California?“. His co-owner and wife, Amy Remsen, was a featured guest on an early August episode of KQED’s Forum with Michael Krasney about the same topic. Also this year, Thrillist named Beauty’s Bagel one of the 12 most important restaurants in Oakland, and Blake and Amy were featured in the recipe section of the SF Chronicle.

This year PTA client and Renaissance graduate LauraLe Wunsch has been receiving some great press for her unique product business, Oxgut Hose Company, which creates beautiful hand-crafted products with recycled fire hose salvaged from US fire departments. The Culture Trip labeled LauraLe one of 10 contemporary designers in San Francisco you should know about, there was a nice article this month in Country Living Magazine, and the final issue of Anthology Magazine (issue 21, Fall 2015) includes a feature on the business.

The SF Chronicle Island Style Section in mid October include a nice feature on jeweler Luana Coonen, BP Class grad from Summer 2014, and the impact of nature in her jewelry.

The Dogwatch neighborhood in San Francisco has a new design destination – Industrious Life, co-founded by Renaissance BP Class grad from Winter 2012 – Patti Quill. Patti and her co-owner Patti Davidson opened the shop this year and were recently featured in the San Francisco Chronicle.

In October, PTA client The Good Life Grocery was honored with the San Francisco Examiner’s Reader’s Choice Award for the Best Grocery Stores!

And last but not least, we are thrilled that PTA client Bay Area Medical Academy, founded by Simonida Cvejic, was one of just 20 Mission Main Street Grant recipients for 2015, chosen from applicants around the country to receive a $100,000 award from Chase! Congratulations!

The post In the news appeared first on Paul Terry & Associates.

Financial sustainability is a must for any small business’ survival and long-term success. But socially and environmentally responsible business practices are also essential if we want our businesses and communities to thrive.

What does “sustainability” mean for a small business?

It could mean…
• Offering employees great working conditions, paying competitive wages, and/or providing educational options and opportunities for advancement.
• Creating and/or selling products produced in ways that minimize harm to the environment and preserve resources.
• Sourcing materials locally and supporting local industries.
• Operating transparently – sharing data and treating competitors as colleagues.
• Giving back to the local community – donating profits to a charitable purpose, mentoring other small business owners, etc.

Sustainability has certainly become a buzzword in business. Yet when implemented in real ways, it not only benefits the wider community but can have positive benefits for your business directly – attracting new customers and committed employees and increasing efficiency and profit.

We asked some of our clients and colleagues about their sustainability practices. They shared their advice for other small business owners who want to incorporating sustainable practices into their businesses.

Rachel Lewin of RxOrganics

Sustainability is central to Rachel Lewin’s business RxOrganics, which locally manufactures “green” kitchen and medical garments. Rachel’s sustainable business practices give her a competitive edge by distinguishing her products in the uniform/professional wear marketplace.

For Rachel, sustainability is not just a marketing tool. She is always thinking about the environmental impact of every decision, from her supply chain to her end products. Tracking and measuring those practices is also central to her operation.

“It is integral to maintaining our “green” certification status with the city and various accrediting agencies to have all of our efforts clearly documented. We are constantly checking our systems to make sure that we can confidently sell our values to our customers and end users, and seeking additional certifications related to sustainable and socially responsible business practices. We are currently seeking a Higg Index score for our manufacturing practice.”

Rachel’s advice to other business owners: Be sustainable from the start and track what you do!

“It is much easier to scale responsibly if you build your foundation sustainably. Keep it simple and clear and document all your steps and actions — even the little unglamorous ones, like changing your toilets and water faucets to low flow. It all adds up! Ultimately the customers appreciate a mindful organization over a cheap one. You’ll see!”

Melissa Joy Manning of Melissa Joy Manning Jewelry

When jeweler Melissa Joy Manning started her business, Melissa Joy Manning Jewelry, in 1997 she wanted to create jobs for other artists: “I distinctly remember being told that I could never operate a business in such a competitive market with on-shore labor. Thankfully, I followed my heart and built a business around a local community. Now “American Made” is a driving marketing force in our industry and we lead the fashion industry in responsible practice.”

Sustainable practices are central to both jewelry production and packaging at Melissa Joy Manning. They use only 100% recycled metal sourced from a “green” certified US refiner, their precious stones follow the Kimberly Process, and they are buying more of their stones directly from mine owners to have true clarity on their gem chain of custody. Additionally all MJM packaging is recycled, jewelry pouches are made in the US from certified responsible felt, and MJM carbon offsets every box shipped to neutralize their carbon footprint.

For Melissa, though, the most important sustainable business practices relate to the reason why she went into business in the first place. All Melissa Joy Manning jewelry is hand made in her own studios in New York and Berkeley by artists earning a living working wage, with full benefits, competitive bonuses and retirement packages.

Melissa’s advice to other business owners: Start small!

“Make little changes that can be easily incorporated into your business practices. You can then add or change your practices to increase your sustainability. It can be incredibly intimidating to try and change everything at once. Starting small, however, leads to greater, more successful cumulative change that can be grown as the business can afford it. In the long run being responsible is not only more efficient and sustainable, it is cheaper and leads to greater profit and stronger ties to your market.”

Gwen Kaplan of Ace Mailing

Gwen Kaplan, CEO and founder of Ace Mailing, has been focused on sustainability since founding her direct mail business almost 40 years ago. When she was president of the Small Business Commission in the late 1980’s she started the Green Ribbon Panel which provided small businesses with sustainable or “green” solutions and recognized San Francisco green businesses. (This panel ultimately became the San Francisco Department of the Environment.) Ace Mailing was the first company in the US to sell recycled paper retail in bulk cartons for copy machines. Since 2007, Ace Mailing has been carbon neutral through TIST and the Institute for Environmental Innovation.

Gwen’s advice to other business owners: Evolve!

“Ace Mailing is continually living, breathing and changing to meet the needs of our clients.”. Sustainability requires strategic evolution of your business. Focus on your target market and meet their needs to achieve long-term sustainability.

Ultimately, it is important to remember that…

There are many ways to create a sustainable and responsible business. The sustainable practices that you decide to employ will be unique to your type of business and your style of doing business.

Instituting new business practices may not be easy or quick to implement. Changing how you operate takes commitment, and often time and money to get new ways of operating established.

Creating a more sustainable business is a process. As Mark Dwight, founder of Rickshaw Bagworks in San Francisco says in this Inc Magazine article, “Sustainability is a journey, not a destination.”

The first step is to just take a step! As Melissa says, choose one small way to improve your practices. Implement that practice into your business and see the results. (This is what business action planning is all about.) You will learn from it and build on it!

How is YOUR business embracing sustainable practices?

The post Sustainability in Business appeared first on Paul Terry & Associates.

Established Entrepreneur of the Year Award

Wendy Lieu, owner of Socola Chocolatier, had already been operating her chocolate business part-time with her sister for many years when she took the Business Planning class in 2012. With the business skills and confidence she gained in the class, she  was ready to take the business to the next level.  In early 2014 Wendy and her sister Susan opened their retail shop on Folsom Street in San Francisco. They now employ five people and also have a thriving wholesale business!

Emerging Entrepreneur of the Year Award

Antoinette Sanchez, owner of Endless Summer Sweets, was a long-time Renaissance employee who worked with me to coordinate the Business Planning Class at Renaissance SoMA. She took all the Renaissance classes, received access to financing support from Gwendolyn Wright of The Wright Consultants, and studied with La Cocina. She left Renaissance two years ago to focus full-time on bringing funnel cakes and kettle corn to parties, events and street festivals all over the Bay. She will soon open her own store on Shattuck Avenue in Berkeley!

Angela Cain Memorial Award

A graduate of the Business Planning class and a long-time Renaissance business incubator tenant, Brigette Renee LeBlanc, owner of LeBlanc and Associates, LLC has used all her training, support and referrals to develop her own business providing full-service event consulting to Bay Area clients.

These three women were committed students, wrote great business plans and took what they learned and applied it to their businesses. We are so proud of them and what they have accomplished. Please join me in congratulating these amazing small business owners!

Join Renaissance at City View Metreon on Wednesday October 7 at 5:30pm to honor the Entrepreneurs of the Year and enjoy the Renaissance pop-up café, dessert bar and marketplace. Many  Business Planning Class graduates will be in attendance. Many graduates have generously donated their products and services to the auction, including Heidi Gibson of The American Grilled Cheese Kitchen, Seán Patrick of Calibur, Gail Lillian of Liba Falafel, Nick Hormuth of Pedal Inn Bike Tours and Provisions, and Steve Fox of Urban Putt. We invite you to attend the Gala, reconnect with business colleagues, and enjoy the program plus networking, food and music!

The post Entrepreneurs of the Year appeared first on Paul Terry & Associates.

According to a study by The Fidelity Charitable Fund and Ernst & Young, most business owners are also inspired to give back to their communities — 89% of entrepreneurs donate money, both personally and through their companies, to support charitable causes, while 70% donate their time.

Because small businesses are well connected to their communities and motivated to provide support, they are in a great position to do a lot of good!

Giving back doesn’t have to mean a large financial outlay or donating hours and hours of your time. By connecting how you give (and to whom) with your interests, skills, services or products, you can contribute in a meaningful way and have a large impact.

Your small business can also get a lot in return. The causes and organizations you support will differentiate your business from competitors and can, in turn, strengthen your ties to customers and clients. Giving back to your community can increase your visibility, increase customer or client loyalty and also increase employee morale.

Here are some ways that you can contribute – and some San Francisco Bay Area business owners who are doing just that!

• Mentor other small business owners. There is a strong possibility that your success is due in part to the people that helped you along the way. You, too, can help others be successful. Do you have business expertise that could be valuable to someone either inside or outside your industry? Heidi Gibson, owner of The American Grilled Cheese Kitchen has made mentorship a priority. She offers internships to new food entrepreneurs and volunteers her time to help small business entrepreneurs in Renaissance Entrepreneurship Center’s Business Planning Class with their business financials.

• Organize a volunteer day for your employees to boost morale and foster increased engagement and team-building. You don’t have to have employees to volunteer. My volunteer experience with fellow Potrero Dogpatch Merchants Association members at the San Francisco-Marin Food Bank was a fun bonding activity for our local merchants association.

• Share your knowledge/skills with local organizations. Create a partnership with a local organization that is in alliance with your business and offer your expertise. Avital Food Tours offers unique culinary adventures in the Mission District, the Haight Ashbury, North Beach and Union Square. Owner Avital Ungar volunteers with the Legacy Bars and Restaurants Project run by SF Heritage. She has helped train tour guides for SF Heritage’s Haas-Lilienthal House and organized a pop-up speakeasy to raise money for the Project.

• Create customer incentives. Commit to donating a certain percentage of each sale to an organization, offer discounts to customers who support particular causes, or create a contest to encourage customers to engage. Shivani Ganguly, owner of Bom Dia Market in San Francisco’s Noe Valley neighborhood supports the non-profit Kitchen Table Advisors. In February, she supported them by donating all proceeds from the sale of prepared foods on one day.

• Donate products. Donating products or giving away samples at events can be a great way to reach new customers and support a cause that you believe in. Claire Keene of Clairesquares frequently donates delicious products to support organizations doing good work. She recently donated her treats to a silent auction supporting Techbridge, an organization that inspires girls to discover a passion for technology, science and engineering.

• Donate to organizations in line with your values. Supporting organizations that you believe in shows your customers your business’ values. Keith Goldstein, founder of Everest Waterproofing and Restoration Inc. is committed to donating a minimum of 10% of pre-tax profits to charitable organizations, both local and international, He also sponsors Tibetan refugees for jobs, helping them create new lives for themselves and their families in the United States. Neal Gottlieb, founder of Three Twins Ice Cream launched an initiative called Ice Cream for Acres. Three Twins donates money to land preservation efforts every time they sell a cup or pint of ice cream.

• Join a non-profit board. Ken Stram, owner of 2Bridge Communications is a board member of the Golden Gate Business Association, the city’s LGBT chamber of commerce. “I’m a bit introverted,” he says, “so being a board member gets me out of the office and keeps me engaged with the LGBT small business community. The board experience is sharpening my leadership and collaboration skills, too. The experience is also good for business—it positions me as a leader and puts me in front of an important audience on a regular basis.”

The Volunteer Center helps to match Bay Area non-profits with individuals looking to give back and get involved at a deeper level. Check out their Board Match events.

There are many ways to make an impact. How do YOU give back? Who are the small businesses owners that you know who are making a difference?

The post Small Businesses Giving Back appeared first on Paul Terry & Associates.