The Path from Entrepreneurial Dreams to Community Impact with April Nash

0:02Hi, and welcome to this week's episode of the Epic Entrepreneurs podcast where we are all about helping business owners just like you achieve success. So we don't do fancy smancy. We don't do flashing lights. We don't do a lot of things that a lot of podcasts will do. These are just real stories about real people and their entrepreneurial and business experiences. We go into their wins, their challenges, and their learnings. So we hope you enjoy it.

0:36hey there welcome to this week's episode of epic entrepreneurs and we've got a treat today i am with april nash from the western women's business center and uh so we're glad to have her on board we're going to talk all things entrepreneurs we're probably going to talk a little bit about uh how the what the how what the government can do to help you and uh take it from there so uh So, April, what is the Western Women's Business Center and how did you end up there? Well, hey, Bill. Nice to talk to you this afternoon. So the Western Women's Business Center is a program of the Carolina Small Business Development Fund.

1:15We do receive small business administration funding and we work with those programs. There's about 157 different women's business centers all across the nation. So no matter where you are, what your zip code is, there is a women's business center that serves the area. We are open. Women is in the name, but that's required by the Small Business Administration. We are open to all entrepreneurs. And I love working here. So one of my things that brings me great joy is that this position is actually a full circle moment for me. When I was in my early 20s, I received free assistance through the Small Business Center in Macon, Georgia.

2:03And that helped me to launch my very first business. So I'm a serial entrepreneur as well. And that really impacted the trajectory of my career and my life. And I've done I've had every risk management, risk mitigation, every license you can have was a FINRA registered investment advisor and did some advising for several years and also have done some entrepreneurial executive business planning and coaching. And so, you know, after you raise your kids and you get to move into this next stage of life, being able to give back with free resources that were given to me is just a really beautiful, full circle moment for me.

2:54And it's just a real pleasure to serve our community. Yeah, and I think, you know, one of the challenges is connecting people with the resources. So give us an idea of some of the resources that are available that people may or may not know about. Got it. Got it. So we are a nonprofit and all of our services come at no cost to our clients. Literally anybody that lives in our geographic territory is welcome to approach us. And we have our niche. So Western North Carolina is known for its entrepreneurial spirit and the number of small business startups and having a really wonderful thriving ecosystem.

3:41So where we fit into that is their business journey. So it can be early stages in time. Anyone from you have an idea and you're not sure if it's a business idea or if it's an actual opportunity. We can help you work through that all the way to really by the time you're ready to hire your first HR person. You've probably you've outgrown our programs. Our programs are really, really specifically focused towards those early stage entrepreneurs. Even if you've been around for 30 years and maybe you don't have a marketing strategy, we can still be of assistance. So we really, really focus on five main areas.

4:33So we do how to write a business plan. The financial portion of the business plan we place a specific emphasis on because that is such a steep hill to climb for most entrepreneurs. It's very, very specialized knowledge. So we can help with that. We also help with marketing strategies or how to reach new clients or expand your market share. And then we also help in business networking or creating your elevator pitch. And we also have access to capital. So we don't do any loans. We currently offer business coaching for those early, early stages in consulting. But our host organization does have access to capital and is able to get entrepreneurs.

5:36Yeah, awesome. That's a good summary. That's a lot of services for people. Cool. So let me ask you some questions. What do you think that, you know, what do you think's the challenge right now? What do you, what's the biggest challenge you see for entrepreneurs right now? So it's a multifold with the economic, with the physical natural disaster that we've had, we've had such a huge impact and it's region wide, right? So as a serial entrepreneur myself, so many businesses are people often think of like their local business owner is they've had this business. This business has been in their family for a generation or two.

6:31And that person is seen as economically advantaged or very successful. when sometimes the reality behind the scenes is that that business has been operating and it's an integral part of the community, but it's not all that profitable. And so business is not an easy thing to go into. And creating that profit can be, the margins can be so tight in the best of times that when you have a natural disaster, even successful businesses take a hit. And so between the loss of physical location, the tight real estate market that we are already in, and the personal setbacks that people have had, in addition to the business setbacks, It's just, I mean, we all know everyone that lives here just knows the number of challenges that we are experiencing.

7:42Yeah, I mean, I've heard some statistics that in a natural disaster like this, a lot of times, like up to 40 % of the businesses actually don't reopen. Yeah. That which is which is in a way sounds horrible, but, you know, but it might be OK. It's not it's not pleasant for the 40 that have to close. But if they were close or fighting or struggling anyway, it might have just been the thing that just said, hey, let's let's go ahead and let's go ahead. And they may maybe and maybe they end up going in now that they've learned some stuff. Maybe they go into another business and get started there. That's kind of, I know that's how, in my first business, it wasn't super successful.

8:28And, but I learned a lot. I learned so many things at that first one. Yeah, yeah. I learned so many things. Yeah, yeah. So what would be your advice for someone who maybe is, you know, maybe doesn't, hasn't had a business yet and is getting ready to pull the trigger? What should they do? Like, what are two or three things that they should keep in mind? Planning, planning, planning, planning, and understand the difference between a business idea. And I mentioned this a moment ago, a business idea and a business opportunity, because there are millions of great ideas out there, but not all of them are going to make a profit.

9:11And so the entire purpose of going into a business is to create that profit. And I'm such a huge fan of how small business ownership and opening your own business can be an economic driver for yourself, your family, your community. It's such a powerful vehicle. The caution is our businesses, and especially on the small business startup end, tend to be our passion projects. They are our brainchild, blood, sweat, and tears. And so, so many entrepreneurs, their business ends up owning them instead of they own their business. So before you put your life's energy into this business, make sure that you are going to get out of it what you need to be successful and thrive in your life.

10:12So do a business feasibility study, do a business plan and make sure that this amazing, powerful vehicle that you are assembling is actually getting you to where you want to be in life. Yeah. I mean, you've got to have the passion, but you also got to have the numbers. Yeah. So, yeah. Will the thing work? Will the thing work? I mean, in some, I mean, you know, let's face it, some of the passion projects do, but they work better with a plan. So, yeah, that's that's that's interesting. Let me get your thoughts on something. And so EPIC is an acronym. And so the E stands for education. What are your thoughts around education and entrepreneurial education in general?

11:03Oh, I love it. So because of the niche that we occupy in our entrepreneurial ecosystem, we really do work with people that have an idea or a skill set. And they have an amazing skill set. And let's say that skill set is pottery and they make beautiful pottery and they're nationally or internationally recognized. And there are pieces in museums and everyone loves their pottery. There's a difference between being amazing at your skill and then running a business and running a business is its own skill set. And so many of the people that we work with, it's a foreign concept. It's a new concept. And so really, truly, that is what we do.

11:58I say we help early entrepreneurs with knowledge, education, and skill building. That's what we do. And so that foundational, formative knowledge about business 101, what's an income and expense? How do I structure my business? That education piece I'm deeply passionate about because it can mean that it can be the distinction between success or failure. 100 percent. Yeah, 100 percent. So that's that's that's incredible. That's we believe that as well. So the P stands for planning, and we've already talked a little bit about planning, but what is your, anything else you'd like to add about planning?

12:43I think we've covered it. Yeah. Yeah, I think we've covered it. All right. What about, the I stands for inspiration. So what are your thoughts about inspiration and maybe finding inspiration or maybe even being an inspiration? okay so this may be controversial but it's a double-edged sword because that inspiration right it's it's a personal thing it lights you up from the inside outside it's that um we've all heard the saying do what you love and you'll never work a day in your life Right. So that's inspiration. And at some point we have to bring in, understand that that's a personal inspiration.

13:32And if you're going to create a business that's designed to create a profit, you need to check and see if that is something that is inspiring to others. if it's something that people are willing to pay for. And maybe this inspiration is, some inspirations are world peace and that's wonderful, but what's the business plan for world peace? And is it going to make a profit, right? Is this inspiration an inspiration or is it a business? And so there's that double-edged sword. Just because you are inspired doesn't mean it's going to make money. Yeah, I think that's right. And I also like I take a little bit of exception to that thing that you're never going to work a day in your life.

14:23I just I mean, that's the polite way to say it. Yeah, I just think, yeah, you got to work. I mean, it's it's and it's hard. It's hard being in business. You never work a day. And of course, you work every day of your life. If you're in business. I get what they're saying. They enjoy what they do, but that's different than the overall thing. All right. The C is commitment. So what are your thoughts on entrepreneurial commitment?

14:59Okay. So it's, it's, I love your, um, it's not an anagram acronym. I love your acronym because clearly you understand this is where the rubber meets the road. You can have all the education, you can do all the planning, you can be inspired. And it's almost like commitment, right? It's like you're choosing to start a business. Well, it's the same thing when you choose to have kids, right? This is a commitment. It doesn't just go away. And I keep that analogy because so many people don't realize how much work is involved in being a parent, if you don't already own a business and you're thinking about starting one, you truly do not understand how much work is involved and the commitment level required.

16:02And even when you're sick, when you're having a bad day, you have got to show up because your commitment, you have to be the most committed person. It's just a requirement. And your business and life will show you and remind you repeatedly about how much work it is. And if that, it cannot be a lark. It cannot be a passing fancy. That commitment has to be there, or the rest of it doesn't matter. Yeah, it's pretty, yeah, that's what I've found. You got to stick in there. I mean, I think when I first started my first business, we moved. We started a business and had a baby all at the same time. So I think that's the way most people do it, something like that, just to, because you just don't know what you don't know, so you just go do it.

17:05You do. And so it's something to it. Which actually, I don't usually bring this into it, but the B actually does. It stands for bring the energy. So we have the B epic is the full thing. So give us your thoughts on energy and energy management since we're going through the full acronym. Oh, so one of the things that I regularly go over with clients that come to us is

17:35take the time to educate and to plan so that you own the business that it doesn't own you. My first business, I truly worked 20 hours a day, seven days a week, and I didn't get sleep. And there were so many things that I did not do right in all of those lessons. And so when you bring the energy, you take that time as a gift to yourself to plan. And how am I going to make this work for the long haul, that commitment? Because if your business requires that level of energy, you're going to burn out. And so be realistic, bring the energy, but also bring the logic. Yeah, yeah, it's an interesting one.

18:31Let me ask you, this is a question I usually ask towards the end, but I know we want to have some time for some discussion about some other things. What do you wish someone had told you that they didn't before you went into business?

18:51Well, I was told several things that I absolutely ignored. So that's on me. That's normal. Yeah. Yeah. Yeah. Yeah, it's a normal entrepreneur. We're just not going to pay attention to that. Exactly. I can still do it. I'll be great. It'll be fine. Yeah. Yeah. I think it's that commitment level. I'm going to go back to that commitment. I truly did not understand the level of I was ready for the personal involvement. I was ready for the work. I'll work hard. I don't, I do, I've done that my whole life. That's not a problem. It's the, um, the way to take care of yourself because you're a finite resource.

19:43And so, um, I just thought my answer to everything was work harder. And at some point there's only so much grease in the elbow. And so you need to have a plan on how to make this sustainable long term. And if the only resource you're pulling on is your own effort and blood, sweat and tears, you're going to need to find other resources that you can pull on. And that is something that I wish somebody would have said and that I would have been in a space where I listened. because even if they said it, I'm not sure what it was. Yeah, that's part of growing up, right? I mean, it's just part of the deal.

20:33Yeah, I always say there's only so much you can do because there's just so much of you, so you have to become something different. So you can work on becoming something different, but working on doing more just because otherwise you're going to do it the same way and it's going to get the same result. So it's just not going to nothing. Nothing's really going to change. So I believe you had a few things that you wanted to discuss. So what are those? Let's let's jump into. I did. So I'm absolutely a longtime dork and PR listener. And macroeconomics has been one of my little pet hobbies for an obnoxiously long time.

21:15So I really become interested in what your thoughts are about the obviously Western North Carolina. It has traditionally relied really heavy on the tourism sector. And so as we're going through and rebuilding and there's still infrastructure that doesn't exist. What are your thoughts about either over-reliance on tourism or diversifying our industries or the health of the macro economy in the area? Yeah, I think we're okay in a lot of ways. Tell me why. Well, first of all, you know, people in Western North Carolina are pretty tough. And so, I mean, there's, yeah, it's going to take a while to rebuild all the infrastructure.

22:17But, you know, the basic, what I'd call the tourism infrastructure is basically there. I mean, the hotels are here with the restaurants are back open for the most part. I mean, there's certain areas of town that are not open. Okay, that's fine. But for the most part, I feel like, and I can't speak for outlying areas, but it feels like most of them are in the same sort of place we are. People, I mean, once we got water back, then people could get to work. So I feel like this fall is going to be critical. in that can we, you know, what kind of recovery will, I mean, I noticed that a lot of people, I mean, the stuff that we have that draws people in the first place is still here.

23:11We still have the outdoors. We still, yeah, I mean, some of the trails still need to be cleared, but we still have the, I mean, the mountains didn't go away. They're still there. The rivers are still there. And they're back to normal heights, not 20-some feet over. The things that drew people here in the first place are still here. So I think the draws are still here. The leaves are still going to change in the fall. That's coming. And assuming we don't have another catastrophic thousand-year disaster next year, that's going to draw. And I actually think people are going going to respond and want to come because I think they're going to want to help out.

23:56And one of the ways they can help out is by bringing their money and coming and checking out the region. And on the other side, like the breweries are for the most part still here. The restaurants are still here. I feel like that I'm just optimistic about the fact that I believe people will come back. And are there less of everything? Yeah. but I feel pretty good. Yeah, I mean, my thoughts are we're going to be fine. And you were saying that you thought maybe people would be incentivized to come this fall? I think people will want to come. I think, number one, they want to see what happened and what's changed, and number two, I think they'll – because people are just nosy.

24:43And the other thing is that – I mean, it's true. There were a whole bunch of people that just came in or would have come during the storm just to see what was going on. And a lot of them came to help. But that's, a lot of them came to help, but a lot of them just kind of wanted to see, holy cow, what happened up there? And then, so that's that. And then I do think they want to help. So I think they'll come and stay and, you know, where they can and stay in hotels or Airbnbs or wherever they can and go to our restaurants and go see the outdoors and, you know, check it out. I mean, you know, I know I was walking around.

25:19I live in Montreats. There's a lot of neighborhoods, you know, there's trails and stuff out here and some of them are cleared and there's still a lot of trees and whatnot down around. And, you know, it's just interesting to be out. So I think people will I think people will come. I think it'll be good. I mean, one of one of the things we're doing and I know we want you to, you know, your team to participate is I mean, we're looking at the Asheville Business Summit this this fall in September. And we want, you know, we want people to come from all over the country to check it out, to see what Asheville has to offer, to see the entrepreneurial spirit, to see the businesses and to learn and have a good time.

26:02And so, yeah, so it's I think I think that's I think you're going to see a lot of that.

26:13Yeah. Other thoughts? What are your thoughts?

26:19um i agree actually um i do think that um and and maybe part part of it is hope i'm not sure how much of it is based on um you know solid economic data but um you know just when you are in the community, knowing so many entrepreneurs, it's, you know, I feel their pain. I've owned businesses. I know the struggle. So one of the things that I'm hopeful for is that tourism will return. So, but another thing is the, you know, do we take this opportunity to potentially diversify what we're offering so that maybe we address a local need instead of strictly a tourism need, or maybe we're able to branch out to offerings online instead of just strictly brick and mortar.

27:24And so while it requires a lot of flexibility, I think it gives us the chance to take a look at our businesses and see, okay, what else can I do? What else makes sense? And take a look at our product offerings and see what works and what doesn't, and maybe sometimes trim and then sometimes add on new offerings. Yeah. And I do think, and there is money. I do believe that, for example, the foundation, and I can't remember the name of it, that was, I think that was when the hospital went private from being a public hospital, created a large foundation, a lot of money. And there's a whole fund that's dedicated to, and they're trying to figure out what to do with it.

28:18They have to invest it in medical kinds of companies. So there is an opportunity to, for example, just go ahead and lean more into, I mean, medical has always been big here too, because of the age of the population has been skewed to the older. And we have great health care here. So, yeah, so in other words, I believe that that could be an opportunity. So it's not like there isn't money to help bring people here. So from an economic development standpoint of view, that's the kind of things that I know they're already working on. and probably should be working on more to bring in entrepreneurial and high growth kinds of companies like in the medical field, for example.

29:11Absolutely. Yeah. And speaking of money available, I did want to, just because it's kind of breaking news, The WNC Strong Business Initiative grant just got another source of funding. So that is for businesses that are out there. They have just this month reopened the application process. And how much did they get? We broke up a little bit there. So how much did they get? Oh, sorry. $40 million. I know it was a chunk. Yeah. So there's money. There's money out there. If you're if you're if you're if you're in business and you're looking for it, you need a little bit of boost and you should apply for that.

30:03and there's a lot of ways to apply. How do people get a hold of you? I mean, if you're not the right person, you know everybody. So you can get them in the right place to get that money or to get the right person or to point them in somebody who can help. So how do people get a hold of you? Well, one of the things I love about our Asheville area is we pretty much, we collaborate so beautifully together and we all really believe in a no wrong door approach. So yes, definitely. Even if I don't have the resources, I am happy to connect you with all of my amazing counterparts across the region. So easiest way is our website.

30:52And that is WNC for Western North Carolina. so WNC and I'm just going to get this wrong right now and I do this all the time pardon me okay sorry so Western Women's Business Center just don't tell my boss yeah it's fine it'll be fine so we are the Western Women's Business Center so it's WWBC and then NC for North Carolina so WWBC www.wbcnc.org. That's easy enough. Yeah, that has contact. We have multiple programs with education that are free. There's links to request counseling, and that goes directly to my bookings. And we do business needs assessments and connect you to resources throughout the community.