The final Thursday of every month entrepreneurs applying for the YBA loan program share their business concepts with the selection panel, who determine if the applicants are ready for funding and a mentor.  It is an exciting time for YBA staff, because we have already established a relationship with these entrepreneurs while working with them on their applications.  The process functions as a very open, and educational tool for both parties.  When entrepreneurs engage YBA with the desire and determination required to start a business, it is received with enthusiasm and support with all available resources to get them to that next stage in their concept’s growth.  The relationship builds and we find ourselves playing the role of advocate for these entrepreneurs come that final Thursday of the month.  Facilitating successful implementation and growth that will create economic opportunities for these entrepreneurs and the communities they serve…this is our mission.

Bryan and Patrick, of Pac Brew Lab, presenting to YBA's selection panel

Last Thursday we had Bryan Hermannsson and Patrick Horn of Pacific Brewing Laboratory and Claire Hoyt of Big Dipper Baby Food meeting with the panel to present their ventures and their financial needs to facilitate the growth they are experiencing.  This was Bryan and Patrick’s first time applying for our loan/mentorship program on behalf of Pac Brew Lab.  The two young men came to us through our community partner the Opportunity Fund and found our loan program to be the perfect match to facilitate meeting the demand they are now experiencing for their kegs of beer, distributed to local bars in the Bay Area.  Bryan,  “the mad scientist” in charge of brewing, and Patrick, the more sales versed member of the team, have been making a name for themselves in SF since they began by hosting events out of their garage, providing evenings of  samplings, food pairings, and music.  Ask most anyone in the local food and drink scene and they’ll likely respond with, “Oh yeah, that crowd over on Clara and Fifth.”  Follow that underground feel with notoriety in publications such as SF Weekly, and it is no wonder Pac Brew Lab is experiencing increased demand.  “Open to the public every other Thursday, the brewery feels like a speakeasy run by a high school science teacher. If you’re excited by beakers and tubing, this may be your happy place ” (Molly McWilliams,  SF Weekly).  It is this science experiment feel that sets them apart from other brewers in the area.   With beers like Squid Ink (a dark IPA) and their Hibiscus Saison (it’s pink…honestly, pink), they are providing new experiences to beer connoisseurs willing to take on well crafted hybrids of not so traditional styles.  All of this, their story, now becoming a brand, is what they shared with us in their 8 minute presentation.  Backed with financial statements and business plans reviewed by our panel prior to the meeting, Bryan and Patrick were able to explain their projections, the needs to fulfill them, and the how they were to capitalize on the growth to ensure sustainability.  Oh, and the tastings of their Squid Ink didn’t hurt either.

Claire Hoyt of Big Dipper Baby Food attended the panel meeting Thursday presenting for her second loan.  Claire came to us through the Renaissance Center in May of 2011, and received her first loan in June.  Supporting the local organic market by only using fresh ingredients,  Big Dipper Baby Food finds itself in a unique position as the only product of its kind and quality available for health conscientious parents.  The 331 Cortland Ave, SF store showcases their menu items, with such available baby food options as kabocha squash, baby dahl, poached pear/roast banana/hint of mint, liver/apple/caremalized onion, butternut squash/chicken, beef marrow, stage 4 brown rice pudding, and kid’s meal options like baked pasta w/meatballs and real mac & cheese w/peas.  Items are also available in bulk and can be delivered to individual residence as well as day care providers throughout SF.  These items have been hard to keep on the shelves, creating the need to hire on employees to handle the growth.  With Claire’s financial updates, and projections for meeting future demand, she was able to clearly communicate the reasons for additional funding.

Both sets of entrepreneurs gave effective presentations, which were followed by 15 minutes of questions, answered with reason and supporting data.  The result was that Claire, Bryan and Patrick were approved for their loans, a decision reported directly to the applicants after 10 minutes of panel deliberation.  For those who apply and are not approved, the panel provides their constructive feedback on concerns and holes in the plan.  If there are some areas needing strengthening, they will be pointed out, and the applicant will be directed to resources that can assist them in preparing to re-apply.

YBA wants to congratulate Claire, Bryan and Patrick on taking this next step in the growth of their business.  We look forward to the success that is to follow.

This is a great San Francisco Chronicle article on the benefits of supporting “community food enterprises”, featuring one of our entrepreneurs, Dafna Kory with INNA Jam.

Click here to view full article

Non-financial support is a vital factor behind the success of today’s young entrepreneurs, a YBI survey of 1,000 entrepreneurs in 21 countries today reveals.

The Global Youth Entrepreneurship Survey 2011, launched on the opening day of Global Entrepreneurship Week, shows that although entrepreneurs need money to start up their business, it is the non-financial assistance, such as mento­ring and training, that ensures that their business is a success and that they are able to repay their loans.

click here for full article

The content for the blog post above was provided directly by Youth Business International, a Global Partner of GEW.

This week is Global Entrepreneurship Week.  Creative, solution driven entrepreneurs from all over the world come together this week to address current issues and collaborate for impact and change.  From Germany to the U.A.E., New Zealand to Peru, more than 120 countries are hosting over 35,000 events to embrace the spirit of this week and inspire change.  You can track these events and their outcomes through articles on the Global Entrepreneurship Week website.  Or, if you wish to get out and get involved, there are 686 events listed in the U.S., check the activity listings for an event close to you, and join in the spirit of the week.

Another wonderful report on how Big Dipper came into being. Click Here to read the article

A great article from the Economist which underscores the importance of youth enterprise creation and the impact of programs like YBA and the YBI network around the world.

To read the full article, click here .

YBA Entrepreneur Shiyuan Deng is finding sweet success with her newly launched company Double Dutch Sweets.  Shiyuan officially began selling her handmade chocolate bars in July of this year and is already building a loyal fan base where her confections are being sold here in the San Francisco Bay Area. In fact, demand has been so strong for her debut product that she has been fulfilling and delivering new orders each week since her opening.

Like many entrepreneurs starting out, Shiyuan struggled to find the financing and support she needed to grow her business.   But, after attending a funding workshop conducted by YBA, Shiyuan got the break she was looking for.  She explained, “I had already talked to a lot of organizations that I knew were going to be there (at the workshop) and I didn’t meet their requirements.  By this point I had given up on getting a loan.” After talking with a YBA representative, Shiyuan felt encouraged to apply to become a YBA Entrepreneur.  “I went to the website, I got an application, I applied, and my loan was funded in July!”, she enthused.

In addition to receiving funding, Shiyuan was matched with her YBA mentor Arthur Melendez.  “The mentor I have through YBA is excellent!  He is exactly what I needed at this point in the life of my business.” she shared.

Shiyuan took time out of her busy schedule to share how the support from YBA is making a difference in her business, what are her next steps, and the advice she would give to aspiring entrepreneurs.

YBA:  Congratulations on receiving your funding approval from YBA.

Shiyuan: Thank you!

YBA:  Can you describe your business?

Shiyuan:  Double Dutch Sweets is a start-up based in Oakland making confections.  The name of the business is taken from a childhood jump rope game I used to play growing up called “Double Dutch”.  What we do is sort of a contemporary take on classic candy products.  The one product we have right now in stores is called the Ramona Bar–it’s basically my take on a Snickers Bar.

YBA:  How do you plan to use the funding you’ve received to grow your business?

Shiyuan:  I bought a laser printer.  When you make chocolate–I don’t know if this is true for other industries–when you make chocolate everything has to look perfect.  If it doesn’t look perfect nobody will buy it and that’s just a fact of business.   And so, I’m planning on using the laser printer to print some of my own labels.  The rest of the money I am using to get some branding done, to work on the website, etc.

YBA:  YBA believes that mentors play a critical role in guiding the early growth of entrepreneurs and their businesses.  Do you agree, and if so what have been the benefits of the partnership you have with your YBA Mentor?

Shiyuan:  I totally agree with that!  The mentor I have through YBA, Arthur Melendez, is excellent.  He does professional coaching and grant writing.  He’s fantastic!  We talk about the bigger picture, we set goals, he helps me achieve my goals etc.  He’s just someone on my side I can talk to about my struggles and he helps me think of solutions and little productivity tips.  So, we don’t talk about the little details like, where am I going to find a new distributor for my chocolate.  We talk about the big picture stuff and I really needed that.

YBA:  What advice would you give to other aspiring entrepreneurs like yourself who would like to follow in your footsteps, but don’t know where to begin?

Shiyuan:  The first thing that I did before I had any idea about anything was I took a business planning class at YBA Community Partner -The Renaissance Center.  I highly encourage anybody else who thinks they want to start a business to take the class too.

YBA:  What’s next for Double Dutch Sweets?

Shiyuan: I am working on product number two.  It took me seven months of working every day to come up with this first product.  So, I hope the second product won’t take so long, but I’m still working on it.  I want to make sure that it tastes as good as the first.

Shiyuan’s handmade confections can be purchased at the following Bay Area locations:  The Candy Shop located in San Francisco’s Russian Hill neighborhood, Miette Bakery in Oakland’s Jack London Square district, The Atomic Garden an Eco Boutique located in the Rockridge neighborhood of Oakland and Rainbow Grocery in San Francisco’s Mission district.

 On July 7th 2011, footwear designer and YBA Entrepreneur Esther Flatto officially launched her shoe company Flip Slip (www.flipslip.com).  Esther has created a patent pending Mary Jane style shoe that folds in half, collapses, and completely reverses to convert into its own pouch. The flats are ideal for high-heel wearers wanting to preserve both their shoes and feet during heavy foot commutes throughout the day. Esther has been working hard towards this launch since receiving her YBA funding award and mentor earlier this year. 

She recently returned home from a production facility in China where she acquired the first batch of her newly mass produced Flip Slips, and has been busily preparing orders. With the help of her mentor Marilyn Pomeroy, she has also been ramping up marketing activities to promote her business. YBA checked in with Esther to discuss what it took to officially launch FlipSlip and the lessons learned along the way.

YBA:    Congratulations on the launch of the Flip Slip Shoe Company and its website.  How do you expect the launch of the website to affect your business?

Esther:  Thank you!  Well, the website is one of several strategies I’m using to grow my business.  Right now my shoes are only available online because of my great price point of $35.00.  If my shoes were offered in a retail store, I would have to mark-up the price or figure out a way to have them produced at a lower cost.  I am also tapping into my personal network, letting people know that my shoes are available for sale.   I find that when I sell my shoes face-to -face people are way more likely to buy.  I’m still trying to figure out other strategies for marketing too. I’m  just starting to learn about affiliate marketers and partnering with them to sell my shoes.

 YBA:  Has the funding and mentoring support you received from YBA been helpful in getting you to this point, and if so, how so?

Esther:   Getting the money was critical for getting the first order.  I am now in a position where I feel I can freely market. In terms of mentorship support, Marilyn has helped me with my launch letter, marketing materials, editing my written work etc.  She has been very hands-on.  I don’t need a mentor that I meet with once a month but someone who can be actively involved on a regular basis.  I needed someone who has time and she does.  We’ve been going to tradeshows, talking to stores and learning.  In a weird way she is like a second partner.  

YBA:  Any other news or lessons learned that you’d like to share with regard to launching Flip Slip?

Esther:  We officially made the transition from production to marketing and sales, which is more up my alley.  Production was a wonderful learning experience, but it was a challenge.  I have an amazing mentor, Mike Matteo, who had lots of experience in working with manufacturing in China.  He was critical in making sure I was going the right direction, asking the right questions and considering the appropriate options. Going to China allowed me to learn about what shoe production is all about.  There is a lot of risk, and it is extremely involved.  If you don’t get a good factory, you could lose all of your money.  In the future I want to be able to mentor others because this is a field that has changed so much over the years.  It is so much easier now. Costs have dropped and I was able to use Facebook and alibaba.com to grow my business.  I want to be able to share what I’ve learned freely with YBA entrepreneurs and others.  It is a part of my giving back.

At their annual gala in Washington DC on Monday, June 20, our board member Rob Massey received a 2011 Jefferson Award for Public Service.

When informing Rob of his selection, Mark Edmunds, Northern Pacific regional managing partner, Deloitte LLP, said “This award recognizes your outstanding service to Tax Aid, Youth Business America, and our regional pro bono efforts. By dedicating your time and energy to these causes, you are changing the lives of individuals and families and directly impacting nonprofits’ ability to serve. I applaud you for this leadership.”

Rob leads the tax portion of Deloitte’s pro-bono initiative in the Northern Pacific Region. In the past year, he has helped create more than 20 pro bono projects, including work to assist eleven regional nonprofits with tax projects. By helping the organizations understand and comply with increasingly burdensome tax reporting, he is freeing them to focus on achieving their missions.

He is also personally involved in two local organizations:

• Tax-Aid, which provides free income tax preparation and assistance to low income Bay Area families. In the 11 years that Rob has worked with the organization, he has expanded his role and dramatically increased the number of people that Tax-Aid reaches.
• Youth Business America Reflecting his great commitment to YBA, on June 10th, Rob led a team of Deloitte Tax Specialists and consultants on Deloitte Impact Day conducting a full day of workshops focused on critical skills for small businesses which was attended by more than 18 young entrepreneurs. Deloitte provides YBA with a number of Pro-Bono services which have greatly accelerated the development of our program

Rob’s volunteer efforts are driven by his belief that by sharing business knowledge across the nonprofit sector, we empower nonprofits to more effectively serve their clients and in turn, drive more meaningful social change. His enthusiasm has inspired many colleagues to apply their core competencies in service of local nonprofits.

YBA congratulates Rob for this well-deserved recognition!

Established in 1972 by Jacqueline Kennedy Onassis, Senator Robert Taft, Jr., and Sam Beard, the Jefferson Awards are a prestigious national recognition system that honors community and public service in America – the “Nobel Prize” for public service.

Youth Business America and the Arthur Guinness Fund were mentioned in Newsweek’s article about the upcoming Clinton Global Initiative America Conference in Chicago June 29-30.  Click here to read the article.