| Best Advice to Someone Starting Out: Determine fixed expenses so you can establish better goals.
Karen Duke was looking for answers. Her family's Richmond, VA, business, Victorian Fireplace Shop, had a steady stream of customers, but at the end of the year, the company's bottom line had very little to show for it. In addition, a decision to expand their business to include Internet orders had been more successful than they had anticipated, and they were struggling to handle the influx of new business.
Karen had been in the fireplace business for nearly 25 years, including more than 10 at the Victorian Fireplace Shop, but she felt like the business was not getting anywhere. "We had sold more than ever, but there was no money in the bank," Karen says. "It was very frustrating to be doing the same thing for so many years and not learn the secret to how to make it work."
Karen's daughter, who was a business student at a local university, heard about SCORE from a professor in one of her classes and thought they could help. Together, they outlined what help they thought they needed, then contacted the Richmond SCORE chapter for assistance. They met with counselors Steve Shapiro and Hugh Greene. Steve, an accountant, saw that the company would benefit from more rigorous bookkeeping. Hugh helped Karen break the business down, analyze individual aspects and understand how they fit together to improve the overall business.
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