I get success stories every month from all over the country and they are nice to read every once in a while.  (If any of my local clients would like to appear in one of these, we certainly have success stories to draw from - let me know!)  Anyway, have a look.  Jim Hunter - SBDC - 928-645-6687.  This one's from California.

BEFORE:

When a dingy bar in an old Art Deco building near her Echo Park home went up for rent, Elizabeth M. Fischbach took a chance. Envisioning a cozy, neighborhood establishment, she signed a lease to develop the space, which she named 1642, into an eclectic beer and wine bar. But what seemed like a straightforward startup ran into roadblocks when neighbors protested the bar, delaying its licensing.

BESTADVICE:

Fischbach had planned to open in summer 2009, but delays cut into her cash flow and in fall 2009, she came to the SBDC for help. "I had run out of money and resources," she recalls. SBDC Business Advisor Ellis Gordon Jr. helped her write a business plan and research financ­ing sources; Business Advisor Harold Hart-Nibbring helped her form an LLC and draft an operating agreement.

LESSONS LEARNED:

· Business planning helps. "I opened this business because it was something I loved," says Fischbach. "I didn't care about numbers or projections. So doing the business plan was really eye-opening - I'd never done something like that before." The plan gave Fischbach even more conviction that there was demand for the business she envisioned.

· Make it legal. When she went to the SBDC, Fischbach had a business partner. "Harold helped me draft the operating agreement stating clearly what is expected of each partner. I wish I had done that earlier," she says. Putting her expectations in writing helped Fischbach see objectively that she and her partner needed to part ways."

· Find people who believe in your business. "Both Ellis and Harold were really great and encouraging," Fischbach recalls. "I was up against huge obstacles; I had to come up with so much money. They were always there - and they never said 'I think you shouldn't do it.' "

AFTER:

Fischbach got a personal line of credit from her bank to cover startup costs. She also worked hard to reach out to the community and convince the naysayers that 1642 would be an asset to the neighborhood.

1642 opened for business in March 2010 and was profitable before year-end. Fischbach already has growth plans: She hopes to consolidate loans and take out another small loan for additional improvements like adding taps to serve more craft beers.

Originally tending bar on her own six nights a week, Fischbach now has three part-time employees and plans to add more. Staffing up will allow her to focus on growing the business - and for help, she'll return to the SBDC. "I want to take [SBDC] classes," says Fisch­bach, citing accounting, QuickBooks and marketing as areas she'll explore next.

For more information about home-based business deductions, Call Jim Hunter at the Small Business Development Center right here in Page.  928-645-6687.