Nina Chenault's West Bank Karate Club was doing well enough to justify the new building she and her husband were planning to construct. But she was seeking advice on communicating about the move and expanding services with current and future clients.
Chenault got free expert advice from the University of St. Thomas' Opus College of Business, courtesy of the faculty-written Outside Consultant column, which runs each Monday in the Business section of the Star Tribune.
This fall marks the 10th anniversary of the column, which made its debut in October 2003. To recognize that milestone, we're checking in with Chenault and two other entrepreneurs who were among the first to submit queries to the feature and who still are in business 10 years later — after the Great Recession, a credit crunch, a continuing slow recovery, the rise of online, mobile and social marketing and more than 500 Outside Consultant columns.
'Grow with us!'
The recommendations Chenault received in August 2004 included using a "Come grow with us!" message, one that Chenault said she continues to use in her advertising for the West Bank Karate Club. The club offers Shotokan karate, a noncontact, Japanese form of the martial art, in addition to yoga, Tai Chi, and aikido.
Other suggestions called for first emphasizing the continued strength of existing programs to current customers before announcing the arrival of the new studio, dubbed the Movement Arts Center, to neighbors in the Seward neighborhood of Minneapolis and then hosting a grand opening a few weeks after the move, which took place in March 2005.
"We did all of those things," said Chenault, who is looking to expand next year by adding new classes after the recession forced some cuts. "It was helpful in the sense that I had a sounding board to bounce my ideas off of. It was interesting because that was my intention, to have a professional say, 'Yes, this is definitely what you should do and in this order.' ''
Mark Engel, co-owner of Meribel Enterprises in Minneapolis and the third person to submit a question to the Outside Consultant, agreed that the feedback he received largely validated the plan that he and co-owner John Peterson had in mind for making strategic acquisitions. The consultant, Mike Ryan, director of the Small Business Development Center at St. Thomas, cautioned Engel against getting overleveraged. Ryan also mentioned cash, bank financing and seller financing, which Engel said had worked well in two deals.
"You always think there's something magical, like if you could just rub an Aladdin's lamp and all of a sudden something would appear that you didn't know existed before," Engel said. "But there really isn't. Basically, it's hard work and risk-taking. If you're willing to do those two, then the consultant is pretty well right."