Of the 65 attendees at the 3rd Annual Business Boot Camp in Miami Lakes, most had fewer than 10 employees, several had ideas for a startup and some came from out of town to learn practical tips from local entrepreneurs.
The Economic Development Committee presented the free Town Hall forum on Sept. 26.
“I want to hear about their journeys and learn from people who also started their own businesses,” said Ana Isabel Hevia, 26, owner of Forme Pilates.
They didn’t let her down. Chela’s Cocteleria owner Carlos Padilla described various funding sources.
“Banks will only lend you money when you don’t need it,” Padilla said. “When you have your best year, go ask for it. When you have your bad year, you have the money.”
Alex Crespi described building Lakes Orthodontics with his wife, Dr. Carmen Briceño Crespi.
“What makes you uniquely qualified to do what you do?” Crespi said. “What do you do better than your competition? If that’s not clear, it’s difficult to attract the right people to your business.”
Attorney Richard Alton advised hiring a CPA, lawyer and insurance agent at the start.
“People love to sue,” Alton said. “It’s the cost of doing business. The more successful you are, the bigger target you become.”
CPAs Carlos Andres and Rafael Schuck stressed the importance of learning to read financial statements and being vigilant about where dollars go.
“Stay away from credit card financing,” Andres said. And if clients ignore invoices? “Change to cash on delivery, so they pay on time.”
Schuck said he doesn’t release tax returns until his invoice is paid.
Alan Gonzalez founded Motor Breeze auto brokerage for those who hate the car buying experience.
“My favorite word is grit,” Gonzalez said. “Risk tolerance will determine your level of success. Stress tolerance too. … The magic that you’re looking for is in the work you are avoiding.”