Beer, Pita Chips, and Burritos?
Jim Koch (right), founder of The Boston Beer Company, can relate to the struggles of a small business owner. At yesterday's Brewing the American Dream U, he offered advice and expertise to over 150 local entrepreneurs.
Yesterday afternoon, the streets of Boston were damp and a bit dreary. But indoors, things were bright: teachers dispensed knowledge, students absorbed every word, and both listened and learned from each others’ experiences. But this scene’s setting wasn’t the halls of Harvard or MIT. Rather, it was the second-floor ballroom of the Park Plaza Hotel, where ACCION USA and The Boston Beer Company presented the inaugural Brewing the American Dream U: a free, half-day event for entrepreneurs in the food, beverage, and hospitality industries to receive expertise from leading local business owners.
Over 150 entrepreneurs attended. For four hours, they listened as fifteen experts shared advice and fielded questions on topics including “What I Learned on My Way to the Kitchen” and “Getting Your Product Ready for Retail.” The advice was timely, inspirational, and most importantly, honest.
Jim Koch, founder of The Boston Beer Company, discussed the salesman’s mentality (every time he walked into a bar, he had only a few seconds to determine why the people sitting at the counter should drink his beer and why the person behind the counter should sell it). Stacy Madison, founder of Stacy’s Pita Chips, explained the importance of targeted marketing strategies (it’s like a fire hose: you have to focus your efforts, not just spray aimlessly). And John Pepper, founder of Boloco, emphasized the necessity of resilience (he pitched his business to 39 investors before he heard the word “yes”).
The event was an important step in strengthening the Boston Beer Company-ACCION USA partnership – appropriately named Brewing the American Dream – which launched in 2008. In the past two years, the program has provided loans to small business owners in Massachusetts and, in doing so, saved or created 282 jobs.
The partnership not only involves loans but, more so, financial education and “speed coaching” events designed to empower entrepreneurs with the knowledge they need to build their businesses. Together, these programs support entrepreneurs and prepare them for the many challenges of business ownership. And judging by an e-mail we received from an event participant this morning, these efforts are working:
“I just wanted to let you know how awesome yesterday was. I was amazed at how eager and enthusiastic all the panel members, Sam Adams, and ACCION were to lend a hand to micro entrepreneurs. It was truly inspiring and empowering. As a member of the food industry, I have many friends and colleagues with big dreams of starting their own venture and I’m certain they are not aware of these incredible resources available to them. I am excited to spread the word, and to seriously consider pursuing my dream as well.”
Help “brew” this entrepreneur’s dream by donating here.
Tags: accion usa, boloco, Boston, entrepreneur, Financial Education, jim koch, Samuel Adams Brewing the American Dream, small business, stacy's pita chips
Destination: Karl’s Sausage
ACCION USA client Karl’s Sausage Kitchen & European Market is a destination for meat lovers throughout New England and beyond. On Tuesday night, it was a destination for ACCION USA staff, as some of us drove to Saugus, MA to participate in a ceremony celebrating the installation of their new business sign.
It was for the design and installation of this sign that Karl’s applied and was approved for an $18,000 loan from ACCION USA’s Samuel Adams Brewing the American Dream Fund, a partnership between ACCION USA and Samuel Adams designed to provide access to capital and mentorship for small business owners in the food, beverage and hospitality sectors. “The credit crunch and recession have really made it difficult for businesses of our type to secure a loan. We were lucky to hear about the program,” said Anita, one of the owners of Karl’s.
As we stood outside for the lighting of the new sign, a fresh and catchy look that fully maintains the Karl’s tradition, I glanced around me at the family, friends, distributors, and loyal customers that had gathered for an evening of German Sausages and celebration with the owners of Karl’s. I thought about how much the business is impacting the community, not just in the lives of their 6 employees (soon to be 7), but their neighbors, long-time customers and especially Doris, the first employee of Karl’s who has worked there since 1958. ‘It’s been my life’, said Doris when selling items at the cash register. I was tremendously proud that ACCION USA was a part of this celebration, and could be a partner in the new life and energy that Anita and her husband Bob are pouring into this landmark business.
Check out write-ups in boston.com’s business updates and the Lynn Daily. Congratulations Anita and Bob! ACCION USA is thrilled to be a part of your business journey.
Karl’s Sausage Kitchen, located at 142 Broadway (Route 1 North), is open Tuesday-Thursday from 9 a.m. to 6 p.m., Friday from 9 a.m. to 7 p.m. and Saturday from 9a.m. to 6p.m. Reach the business by phone at (781) 233-3099 or online at www.karlssausage.com.
We’re on CNN and Univision!
In the last 24 hours, segments featuring ACCION USA clients ran on two major television outlets, CNN and Univision. Our phone lines and website stand ready to take inquiries from underserved microentrepreneurs who are hearing about ACCION USA for the first time, thanks to this great national coverage!
Here are links to the online videos:
- Univision’s “Primer Impacto” covered Oscar and Elizabeth Amador, who used an ACCION USA microloan to build their Miami-based small business, On-time Delivery Service, Inc.
- CNN’s “American Morning” profiled ACCION USA client Lucy Valena, owner of Boston’s Voltage Coffee. Lucy is one of the first recipients of a loan through our program with the Boston Beer Co., Samuel Adams Brewing the American Dream.
Between today’s coverage, last month’s widespread reporting on ACCION USA’s new partnership with Kiva.org, and scores of newspaper stories about microentrepreneurs, we are clearly breaking new ground in the mainstream media’s awareness of U.S. microfinance. That can only be good news for microentrepreneurs across the country in need of a loan.