Collin Whittington is one of many local residents working with the Arkansas Small Business and Technology Development Center to transform their business dreams into reality.
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Small Businesses Can Have Big Ambitions
Although the director of The Arkansas Small Business and Technology Development in western Arkansas emphasizes that the center is not just for startups, he clearly has a soft spot for watching the process from idea to execution
Bill Sabo said his role is to be one part cheerleader and one part challenger.
鈥淭here are a lot of hurdles to opening a business, and you are going to hear a lot of nos,鈥� he said.
When people come in with a new idea, he ensures they have done 鈥� or will do 鈥� their homework.
He pushes them to identify their customer (spoiler: it鈥檚 not everyone), their geographic area (It鈥檚 not everywhere), and how much capital they would need to get started (It鈥檚 not a wide-eyed stare).
The best ideas are ones that answer a need in the community. Sabo shared two stories of would-be entrepreneurs trying to find their way.
Faith Myers, class of 2019, said after she lost a great deal of weight, she couldn鈥檛 a safe fitness center for people fighting obesity.
鈥淏ecause of that, I am working to open New Me Fitness,鈥� Myers said. 鈥淚t is designed for those who are on a weight-loss journey with or without the help of weight-loss surgery. I have begun to incorporate walk/run clinics to help with building my revenue to get the building I am considering for my gym.鈥�
鈥淚 feel like this gave me a second chance at life, and I want to share that with everyone who needs it,鈥� she said.
Collin Whittington likes to go camping in his car, and he was looking for something to make that easier, maybe more efficient, definitely more comfortable. When he looked for conversion kits, they were all $4,000-$5,000. Instead of that, he built his own platform for a fraction of the cost.
鈥淗is next step is grassroots,鈥� Sabo said. 鈥淗e needs to show it off and maybe start some buzz. Maybe he will go to cycling events, showing off his product and talking about it, getting responses that will help him on his next prototype. In the meantime, he has a line on a third party to manufacture the product.鈥�
When people come in with a new idea, Sabo works to ensure they have done 鈥� or will do鈥攖heir homework. He pushes them to identify their market (spoiler: it鈥檚 not everyone), their geographic area (it鈥檚 not everywhere), and how much capital they would need to get started (it鈥檚 not a deer in the headlights stare). The best ideas are ones that answer a need in the community.
Once people answer those questions and show they have skin in the game, they can start.
Along the way, staff at the ASBTDC encourage when spirits lag and offer a big dose of reality when clients have unrealistic ideas.
鈥淥nce I had a client who wanted to take a break and go on vacation. I told him, 鈥榊ou can have a business, or you can go on vacation, but you can鈥檛 do both.鈥欌�� Ultimately the client chose the business and later thanked Sabo, he said.
Sabo often has to tamp down expectations. 鈥淵ou should work to get your first location started before you think about opening more sites,鈥� he said.
When an idea begins to take shape, practical challenges arise. Creating a limited liability company (LLC) or another type of company requires mountains of paperwork.
鈥淚 probably walk 75 percent of people through this step,鈥� Sabo said. 鈥淚t鈥檚 not hard, but the website is confusing.鈥�
Sabo wants to make things easier for young entrepreneurs.
鈥淲hen you are young and energetic, you might have a dream. But you need money to follow your dream, so you take a job. Then you look up and realize 25 years have passed,鈥� he said.鈥� I鈥檇 like to see people go from academia to business in one step.鈥�
Sabo may be living his own dream.
鈥淚t鈥檚 heartening,鈥� he said. 鈥淧eople have dreams, and watching them fulfill their dreams 鈥� it鈥檚 satisfying.鈥�
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