In 2003, Mary Ann Olson purchased Cabinet Corner & Home Center. The Entrepreneur Fund partnered with her bank to provide acquisition funding. Later, during the recession, Olson kept the business solvent – her mantra is “I did not buy this business to fail” – but knew she needed a new approach if she wanted to do more than just survive.
How can a small business get the strategic perspective needed to thrive during and after a recession?
Olson enrolled in the Entrepreneur Fund’s success accelerator program, Be Strategic: Grow Your Business. “I figured it would help me get out of this scary mode of survival thinking. It was time to move forward.” The program not only provided a structured process to help entrepreneurs transition from an operational to a growth mindset, it also convened a supportive small group of fellow business owners. Olson credits the insights she gleaned from Be Strategic for her decisions to:
- Maintain a robust advertising presence throughout the recession
- Shift thinking from survival mode to growth mode
- Invest in strategic support, staff and infrastructure improvements
Cabinet Corner & Home Center is now enjoying a year of “tremendous growth.” With a new full-time salesperson, two new kitchen displays and a renovated storefront, the business is positioned for continued growth.
We are not just for startups. Our strategic support services and loans up to $250k enable businesses to streamline, expand and invest.