BusinessROCKstar: Joel T. Johnson, President of P.I. Roofing & Best Small Business Owner in Arkansas

The U.S. Small Business Administration recently released the best small business owners in all 50 states, D.C. and three U.S. territories. The business owners were selected to highlight their companies' outstanding growth and innovation over the past year. "Small businesses are responsible for two-thirds of new jobs created in the U.S. and employ nearly half of the nations' workforce," so it's essential we give them credit where credit is due. 

Among the country's 54 best and brightest is Joel T. Johnson. Fourteen years ago, Johnson launched P.I. Roofing, a full-service roofing company based in North Little Rock, AR. By 2008, he expanded his business throughout Arkansas and into northeast Texas...that's when the financial recession hit. Soon after, the company pulled in the reigns and moved back to central Arkansas. P.I. Roofing is working hard to make its way back to pre-recession revenue levels - in fact, Johnson says they aim to hit the $5 million mark in sales this year.

The roofing industry may not be the "sexiest" industry out there...but, hey, we all need roofs over our heads! Johnson is not only a great example of capitalizing on what consumers need and starting a business that answers that need, but also how to take a financial hit and bounce back. The recession took a lot of small businesses down with it, but not P.I. Roofing.

"We have always been a service oriented company. I enjoy the compliments from our customers about how we fixed the leak that no one else could. I am proud of the team that works here because they want to make a difference and when we fix a nuisance leak or work on an entire facility it is a team effort, " Johnson says on his company's Yelp page.

We're always excited to see a small business owner succeed, especially following the financial crisis of 2008. Part of succeeding as a small business is a high standard of service, something Johnson takes very seriously. Part of P.I. Roofing's values is building long-term relationships with their customers and to meet their needs with the finest expertise and unrivaled attention to detail.

We look forward to following Johnson as his business successfully overcomes the financial crisis once and for all.

If you want to grow your roofing company, but lack the funds, a small business loan might be the answer. At Silver Rock Funding, our goal is to help small business owners reach their goals and sometimes a small business loan is all you need.

*This blog post is in no way sponsored or endorsed by, or affiliated with, Joel T. Johnson or P.I. Roofing.

BusinessROCKstar: CEO Marc Lore Takes on Amazon With E-Commerce Startup Jet

This week's Business ROCKstar is the definition of daring. Marc Lore, the co-founder of Diapers.com (which he sold to Amazon.com for a meager $550 million), is launching an innovative e-commerce website - Jet.com. Why is Lore so daring, especially when there's a new e-commerce website popping up at every turn? Well, Jet intends to compete directly with the king of e-commerce - Amazon. In fact, Jet has been dubbed the "Amazon-killer."

Jet is currently operating in beta, so it's only accessible by customers who signed up for the website months ago, but even those who are most excited about Jet are wondering how on earth it will compete with a giant like Amazon.

When asked how Lore plans to pit Jet against Amazon, the CEO explained Jet will be the perfect combination of Amazon and big box store Costco. For a $50 annual fee, Jet customers will receive big savings. While Amazon is free to everyone, its Prime membership (which scores you free two-day shipping, but doesn't guarantee you better deals overall) costs $99 per year, and a Costco membership costs $55 annually. Simply looking at those numbers, Jet is the better deal.

According to a GeekWire.com article, "Jet anticipates selling just about everything Amazon does - clothes, books, electronics, baby goods and athletic gear...Jet is [also] claiming to offer prices that are 10 to 15 percent lower than anywhere else online."

How will Jet turn a profit with such low prices? Lore claims Jet's profits will come solely from membership fees. Customers will save money using Jet due to the company's numerous and flexible shipping options, lower prices for items local to the customer and there will be fewer transaction fees when customers use their debit cards.

In an interview with BusinessWeek Lore said, "When we show you a product, it’s not because we are making money on it and not because we are closing out a line. It’s because we think it’s a good deal."

Jet will operate as a marketplace, similar to eBay, so it will have to partner with retailers - this means the e-commerce website will most likely not invest in its own warehouses which, in turn, means even more cost savings for the company.

As reported by GeekWire.com, "The 100-person company has already raised $80 million, and [Lore] plans to raise up to $600 million over the next five years, with a vast majority of it being spent on marketing."

It definitely takes guts to invest your time and money in a startup, no matter the industry, but especially when you have direct a competitor as huge as Amazon. But, with Jet's lower prices and speedy shipping options (and if e-commerce regulars are willing to try something new) Amazon could very well have a legitimate foe. Needless to say, we're excited to see how the e-commerce landscape changes once Jet officially launches.

E-commerce is a cutthroat industry, but also one of the most lucrative. However, as the saying goes, you have to spend money to make money. If you have a brilliant new e-commerce concept, but need some extra financing to get your idea up and running, a small business loan is a great option. Silver Rock Funding is passionate about the e-commerce industry and looks forward to helping cutting-edge entrepreneurs, like Marc Lore, access the funding they need to take on the Amazons of the world.

*This blog post is in no way sponsored or endorsed by, or affiliated with, Marc Lore or Jet.com.

And the Winner of "Grand For Your Brand" is...Takiyah J. Thomas!

We're excited to officially announce the winner of our "Grand For Your Brand" contest, Takiyah J. Thomas - owner of Ja De'van Fashion Designs & Alterations, LLC. The aspiring (and talented) fashion designer will receive $1,000 to help grow her brand.

"It has long been a dream of mine to own a boutique. I come from a long line of seamstresses and entrepreneurs, and I guess you can say owning my own business is 'meant to be.' For the past few years, I've been branding my business, building a customer base and investing in supplies," Thomas said. "I currently run my business from home and, after proper planning, intend to open a storefront. The support I've received throughout this contest from family, friends and clients has motivated me to expedite my planning."

Thomas plans to use the grand prize funds to purchase a second body form (mannequin), reorder garment labels and begin establishing business credit through a secure credit line.

"While $1,000 won't buy me my storefront, I am so grateful for what I'll be able to accomplish with the additional funds; it brings me one step closer to my ultimate goal. Thank you, Silver Rock Funding!" 

The "Grand For Your Brand" contest was a rewarding opportunity for Silver Rock Funding to reach out to small business owners/entrepreneurs and help increase awareness of their brands. Small businesses are essential to the health of the U.S. economy and everyone should do their part to support their development.

We'd also like to thank the finalists and everyone else who participated - it was fun reviewing all the unique business ventures and "getting to know" the ambitious business owners/entrepreneurs.

If you're a business owner/entrepreneur, or you know someone who is, Silver Rock Funding would love the opportunity to help you access the funds you need to reach your business goals.Whether you need a small business loan to purchase supplies, or your storefront needs a refresh, Silver Rock Funding is here to help! 

Business ROCKstar: Rising Star Chef Opens His 1st Restaurant in NOLA (& How to Avoid the Cardinal Sin of the Restaurant Industry)

Today marks the beginning of our new Business ROCKstar series. Each week, we’ll take a closer look at innovative entrepreneurs, successful business owners, and “ones to watch” across various industries – from restaurants to e-commerce start-ups. This week, we delve into the restaurant industry and address one of the biggest mistakes you can make as a restaurant owners.

Owning a restaurant is typically one of two things: an extremely challenging money pit, or an extremely challenging success story. Any way you slice it, opening and running a restaurant is no small feat. Turnover in the restaurant industry is high because there’s not much freedom for error. Restaurant owners must cope with ruthless competition, escalating food and labor costs, and the slowly recovering economy, which has more patrons choosing to eat at home. However, one of the biggest mistakes restaurant owners make – even those who own established restaurants – is forgetting to refresh their menu (and general ambiance) at least once every decade. Making this mistake can cause even the most time-honored restaurant to become obsolete.

Opening a restaurant requires someone who not only loves and understands delicious cuisine, but also has the required courage and fundamental business sense – someone like Chef Nick Lama. Lama – a fourth generation Sicilian and former chef du cuisine at beloved New Orleans restaurant, Gautreau’s – opened his first restaurant, Avo, at the end of May. The highly anticipated Uptown restaurant created a lot buzz before the doors even opened as he promised a modern spin on the classics – Sicilian cuisine meets Southern cuisine with dishes like Burrata and grilled peaches, and short rib lasagna (yum!).

Most interestingly, Avo replaced Martinique Bistro – a fine dining restaurant once considered a New Orleans “classic” by many. Unfortunately, Martinique reportedly committed the aforementioned mortal sin of the restaurant world – it remained stagnant throughout its 20-year tenure. Being a successful restaurant owner means keeping abreast of the latest trends which, right now, include authentic flavors, locally-sourced ingredients and an upscale/casual atmosphere. People want high-quality cuisine without the exorbitant prices and pretentious atmosphere of yore. Chef Lama seems to “get it” – his fledgling restaurant shows a lot of promise for success and we’re excited to follow his progress throughout Avo’s first year of business.

While the restaurant industry poses many unique challenges, owning any type of small business comes with its fair share of trying situations. Owning and growing your small business requires not only financial support, but also moral support from those around you. When it comes to the financial aspect of running a successful small business, sometimes a small business loan is a great solution to financial drawbacks. Silver Rock Funding has the interests of small businesses at heart and looks forward to helping small business owners access the funds they need.

*This blog post is in no way sponsored or endorsed by, or affiliated with, Chef Nick Lama or Avo.

I'm in a Small Business State of Mind

A solid business plan, motivated employees, a great product/service and, of course, adequate finances are all essential to a healthy small business and its growth. But, as a small business owner, it's also important to consider your frame of mind. We came across a great article on The Huffington Post about how to "nurture the small business state of mind." Determination is key, flexibility is essential and creativity is vital. Here are five habits to keep your mind at its best, so you can stay on the path toward a flourishing small business.

1. Don't simply set goals, set goals and follow through by outlining the steps to accomplish each one. 
2. Kick negativity to the curb and prepare yourself for "worst case scenarios" by coming up with a game plan before the going gets tough. Being proactive is a great way to stay positive.
3. Learn from your failures...and then move on. Don't dwell on the "what if's" and the "has been's" - everything is a learning experience and, as the saying goes, sometimes bad things happen for a reason.
4. Embrace the fact that you will never know everything. Owning a business, big or small, is a never-ending journey - you will learn something new every day, which is part of the beauty of being a business owner. 
5. Don't expect to accomplish everything overnight - pace yourself. Owning a successful business takes time.

For the full article, head over to Huff Po. In the meantime, if you need extra funds to take your business to the next level, it's worth considering a small business loan to help meet your goals. There are great services out there with the needs of small businesses in mind.

Making Your Business Idea a Reality

If you have a great business idea – whether it’s an innovative e-commerce website or a trendy barbershop concept – don’t let fear hold you back from making your idea a reality. At the risk of sounding cliché, pull yourself up by your bootstraps and make it happen. Below are our quick tips for finally bringing your business venture to life.

• First and foremost, research your market and competition in depth. You need to know if there’s already a similar business concept out there, and who your customer base will be and how best to reach them.
• Create a business model with immediate cash flow as the primary objective.
• Embrace social media to create instant buzz about your new business – Facebook and Twitter are must-haves. A simple initiative to get you started is offering a freebie or discount to your first 50 Twitter followers and/or Facebook fans.
• Handle your own public relations in the beginning, but be sure to research PR best practices before diving in - create a well though-out press kit and learn which media outlets reach your desired customer base.
• Start small with your website. If you’re not rolling in dough, there’s no need to waste money on an expensive custom website. It’s alright to allow your website to grow with your business.
• Be sure to count every single nickel you spend. Excel is a great place to start, but websites like Mint are also helpful at tracking expenses.
• Wear as many hats as possible. While you don’t want to burn the candle at both ends, it’s best try to handle as much as you can in the beginning. You want to generate reliable cash flow before you commit to writing several paychecks.
• And, most importantly, be relentless!

Creating and owning a business is hard work and there will inevitably be many speed bumps. But, if you put your nose to the grindstone, do your research, and employ your entrepreneurial skills, you will accomplish your goal. And, remember, if you need some extra cash flow to get your business idea up and running, there are awesome loans out there with the interests of small business owners at heart.