Coast River Business Journal
BUSINESS COMMENT
June 2021 • 13
Are you ready to grow your business?
By Jessica Newhall
Clatsop Community College
Small Business Development Center
Entrepreneurship is often born from a
brilliant spark of an idea by an individual
who can envision themselves as the master
of their own destiny. It is from this energy
that many of the world’s great innovations
have been born and fortunes shaped. Yet, as
the entrepreneur is at the core of the com-
pany from the start, often there is an expecta-
tion by the entrepreneur themselves that they
“have to do it all.”
No doubt, in the world of a startup when
resources are lean, it is key that the leader
of a small business go into the venture with
the understanding they will need to be adept
at overseeing all aspects of their business.
However, when a company is designed solely
around its leader, it will increasingly be chal-
lenged in its ability to grow beyond the capa-
bilities and capacity of that individual.
Instead, to truly grow a business, the
most successful entrepreneurs need to have
the ability to build a team that adds scale and
expertise.
Recently, participants of Clatsop Com-
munity College’s Small Business Manage-
ment program presented their fi nal presen-
tations. This nine-month intensive program
is designed to help owners of existing small
businesses gain the insight and knowledge to
take their companies to the next level.
The 2020-2021 cohort of companies
ranged in size and scope — from a solo-
preneur art gallery to a large heavy equip-
ment construction fi rm with upwards of 30
employees. Each had a successful, driven
and talented entrepreneur at its helm who, in
this fi nal challenge, delivered a presentation
that shared a clear picture of the business’s
vision, mission, direction and goals — as
well as provided insight into what chal-
lenges they overcame and their accomplish-
ments during the course.
Continued from Page 12
for a period of one year, at which time
they ordinarily will be renewed if the per-
formance has been satisfactory. A line of
credit allows you to manage your cash
fl ow by providing the fl exibility to borrow
and repay throughout the year. Lines of
credit should be for the purpose of fi nanc-
ing your current assets, accounts receiv-
able and inventory. A line of credit may or
may not be on a secured basis.
• Most government-assisted loans will
As the presentations unfolded
So, if you are ready to grow
monthly: Often it is hard for entrepre-
one by one, what emerged as a
your business, here are some
neurs to be objective about their company
and an outside perspective can help you
common theme was that the
steps they took that you can also
identify ways to get unstuck.
course materials and peer-to-
consider:
• Consider a business course: Find a
peer learning had led them to
•
Write your own job
comprehensive one designed for existing
gain a profound realization that
description: As the leader of
entrepreneurs where your business is the
“one cannot do it by oneself.”
the company, what are you
textbook, and you can learn from a cohort
The cohort members told stories
responsible for? This can be
of your peers.
of empowerment achieved by
a powerful way to help iden-
• Set business goals and review quar-
releasing control of fi nances to
tify what you need to own and
Jessica Newhall
terly and annually: If you do not have
a bookkeeper or hiring their fi rst
where you will gain from dele-
these, it is time to sit down with your
employee to take on some of the
gating or outsourcing.
fi nancial statements and start to develop
day-to-day work so that they could focus on
• Review your fi nancial statements:
them. Need help developing these? A
growing the company.
Profi tability is the primary goal of all
trusted advisor, such as those at the Small
In what is a must-read book for any entre-
business ventures. Without an eye on it,
Business Development Center can help.
preneur, “The E-Myth Revisited: Why Most
the likelihood is high that your business
In closing, some fi nal words from Michael
Small Businesses Don’t Work and What to
will not survive in the long run and you
Do About It,” author Michael E. Gerber said,
certainly will not be able to pay yourself. E. Gerber: “Simply put, your job is to pre-
“Most businesses are operated according to
• Outsource bookkeeping: If you fi nd pare yourself and your business for growth.”
what the owner wants as opposed to what the
yourself behind on your books or too Are you ready to grow? The next cohort of
business needs.”
burnt out from reconciling to look at your the Small Business Management program
This concept of changing the focus from
fi nancial reports, it might be time to out- will be convening this fall. Learn more by
the self to the company can be a diffi cult pro-
source that to a reputable professional so reaching out to sbdc@clatsopcc.edu.
Jessica Newhall is the associate direc-
cess for many entrepreneurs — not because
that you can focus on leading rather than
of ego but rather because of the very nature
doing. Take note, a bookkeeper is often tor and Small Business Management pro-
of how companies emerge from the power
diff erent than your CPA, whose primary gram manager for the Clatsop Community
and abilities of the individual from the start.
role is focused on taxes. Make sure you College Small Business Development Cen-
ter. She can be reached at jnewhall@clat-
He states, “If your business depends on you,
understand the diff erence!
you don’t own a business — you have a job.
• Find a trusted advisor to meet sopcc.edu.
And it’s the worst job in the world because
you’re working for a lunatic!” As an antidote
for this, he describes the mindset shift that
OUR PROVIDERS
occurs when the entrepreneur stops focusing
on the self and instead focuses on identify-
ARE READY TO MEET YOUR
ing what the company needs to do to grow
MEDICAL NEEDS!
and develops the systems and processes nec-
essary to support that growth. “The system
isn’t something you bring to the business.
It’s something you derive from the process
of building the business.”
The Small Business Management pre-
senters’ stories were prime examples of the
diffi culty of loosening expectations of them-
selves, giving up the grip of control and
Dr. Fabiano
Dr. Weaver
Dr. Dawson
Brianna Ayers, FNP
Tracy Ramos, PA-C
Internal Medicine
Family Medicine
Family Practice
General Surgery
Emergency Physician
making time in their busy day working in the
business to also work on it.
require your personal guarantee on the
debt as well as some level of equity in the
company.
There are many options to get “access to
capital” and it can be overwhelming at times.
Make an appointment at our Clatsop
Community College Small Business Devel-
opment Center to talk to one of our advisors
to help you get a clearer understanding of
your options. Call us at 503-338-2402, con-
tact us at oregonsbdc.org/clatsop or email
sbdc@clatsopcc.edu for information on how
to connect with us!
“To provide
compassionate
patient focused
care for our
community”
Steve Bellinger, PA-C
Family Practice
Kyle Shafer, PA-C
Family Medicine
William Chisholm
CRNA
Joseph Murray
CRNA
Ocean Beach Hospital 360-642-3181
Ocean Beach Medical Clinic 360-642-3747
Naselle Clinic 360-484-7161
Ocean Park Clinic 360-642-6387
www.oceanbeachhospital.com
Nikki Hartley-Jonason
ARNP, Family Practice
Lori Sharrow, NP-C
Family Practice
Dr. Laurie Belknap
Family Practice