small business finances
Company Name:
Gogo's Garlic DipWho:
Yiorgos Samios and Jennifer SamiosYear Founded:
2010What:
Garlic dipWhere:
Entrepreneur Space, Long Island City, Queens, NYOur basic challenge is we need money to support our love, our product.
Why did you decide to start Gogo's at this time?
I don't think either one of us sat around and said, well, maybe we should wait for this downturn to turn back up.
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If your next question is if you got money, what would you do with it, it would be to pay someone to do some marketing.
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Part of the reason I would love more people to do the marketing is so that we can spend a little more time adjusting the recipes and coming up with new flavors.
What's your advice to firms that are trying to sell their products through wholesalers?
Make it a partnership, and focus as much as you can on working with the businesses that see you as a partner, that are interested in what you have to offer.
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I'd love to have an office that's not a corner of our kitchen.
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Company Name:
BundleWho:
Allison O'NeillYear Founded:
2008What:
Infant and Toddler Clothing & AccessoriesWhere:
Soho, New York, NYOne of the things I found was that, of all of retail, children is kind of the most recession proof.
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I had great credit. I had basically four times the amount of a loan I was looking for, in my brokerage account, and they didn't care. They were just like, we're not taking any risks on start ups.
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Whatever you think cash flow wise you will need for your worst, worst scenerio, like the one you think is never going to happen, double it.
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Everyone who works here wears many hats...everyone who's here is a Sales Associate, and a Social Media Manager, and a Marketing Manager, and an Inventory Specialist.
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Luckily, I'm not looking for credit just yet. But, a year from now I likely will be. And, I hope conditions gets a little bit better, because I think it's still really hard for young businesses.
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There were landlords who are basically like we're just not interested in a startup of any type.
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Company Name:
The Shannon GroupWho:
Diane CostiganYear Founded:
1984What:
Legal Talent Development FirmWhere:
Flatiron District, New York, NYI think you really have to have a pretty healthy and constructive relationship with fear to be an entrepreneur or to start a company.
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We have actually seen almost a 300% increase in coaching, which...that's one of the things
we love.
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Just being here, at "In Good Company," there's so many other entrepreneurs and people who run businesses. And so, I definitely go to the programming here and that's been really helpful.
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One of our things is really to believe in "Abundance Theory," that it's not scarcity mentality out there, but there's enough work out there for everyone.
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I'm the daughter of an accountant, and so I tend to have a more conservative financial outlook.
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Because of what we do, we're a little bit recession-proof, and we're pretty grateful for that.
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Our goal for this year is to make the same money we made last year, and normalize, stablize and organize.
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