Her mom calls her a regular teenager.

But Jasmine Lawrence, 16, of Williamstown is the founder and owner of her own natural beauty products business.

Lawrence was 13 when she launched EDEN Body Works. Since then, the company has amassed nearly $1 million in sales of its own brand of shampoo and hair conditioner.

But that’s not all. Beginning next month, EDEN Body Works’ Peppermint and Tea Tree hair care collection will begin appearing on 280 Wal-Mart shelves nationwide.

A junior at Williamstown High School, Lawrence excels in math and science in the school’s engineering academy.

In 2004, she won a contest making it possible for her to attend a two-week summer business camp sponsored by the National Foundation for Teaching Entrepreneurship, an educational nonprofit group.

“I just thought it was something cool to do over the summer,” said Lawrence.

The experience changed her life.

“We teach kids how to run a small business,” said Steve Mariotti, 54, founder and president of NFTE, an organization that has helped 200,000 teenagers and young adults in the U.S. and in 13 countries become entrepreneurs.

But Lawrence is a cut above, according to Mariotti.

“The sky’s the limit for Jasmine,” he said. “I’ve waited 27 years to see a kid under 18 own a business that actually gets more than $25,000 in sales. What an inspiration for other kids to see that this is possible.”

Mariotti said Lawrence’s special success is due to several factors: an ability to get things done, national media exposure and a compelling story connected with her hair care products.

An accident with a chemical hair application left Lawrence nearly bald at the age of 11.

“I tried to put a ponytail in her hair, but the whole ponytail fell off,” remembers April Lawrence, the teen’s mom.

“Of course I cried,” said Lawrence, when asked to recall the incident which happened in a salon. “I was so scared and so shocked, it changed my personality completely. I became nervous and shy. I kept to myself and didn’t want people taking pictures of me.”

But Lawrence’s bad hair experience made her stronger, wiser — and now successful.

She began to read labels on hair care products.

“Some ingredients would have normal names like tea tree. And other ingredients had 20 letters,” said Lawrence.

Lawrence researched the properties of natural products such as jojoba, lavender, tea tree and rosemary. Steering clear of chemicals, she bought essential oils from natural products and made her own gentle shampoo and conditioner.

“It worked for her and it smelled good,” her mother said.

When Lawrence turned 13, her bald head was history.

That summer, she won the contest to attend NFTE’s summer business camp in New York City. Camp was fast-paced and business concepts were made easy for teenagers to understand.

Hooked on business, Lawrence decided to start her own company.

“I was so inspired and so compelled to really go for it,” she said.

But the sweet-smelling oils that she mixed in her kitchen didn’t click in her mind as a marketable product.

“Her first product was a headband with rhinestones on it. She called it “Sweat in Style,’ ” April Lawrence said with a laugh. “But then she thought about selling her hair care products. That was the aha moment for her.”

Click here to read more or here to visit EDEN Body Works, Jasmine’s store.

Starting your own small business is one of the most exciting, rewarding, and challenging endeavors you’ll undertake. And, it’s going to take some real foresight, research and dedication to keep the doors of your first business open. In fact, more than 50 percent of small businesses fail with in the first year of business, and 95 percent fail within the first five years, reports the Small Business Administration (SBA).

Several reasons contribute to the failure of a small business: lack of experience, mismanaging funds, poor location, or growing competition. But one of the biggest killers is starting a small business in a large industry without identifying if you have a necessary or essential product. We’re not saying that you shouldn’t open a small business, but you should be well aware of the risks if you do.

Conversely, there are some small businesses that are on the verge of booming due to an increase in demand: child care services; computer-related/Internet services; and home health care services.

Before you run off to start your own Internet-child-care hospice, take a look at four of the hardest small businesses to run (according to Forbes) as well as four of the most successful to date (according to Inc.com):

Four the Hard Way:

Transportation — This big category includes taxis, limos, ambulances, hearses and other vehicles for hire. All operators pay high insurance premiums, suffer during oil spikes and have tons of competition, but each mode has its own risks, too. Take taxis: In New York City, where the number of taxis has been fixed since 1937, the price of a taxi license is upwards of $400,000 — a stiff entry price to do battle, even in a $1.8 billion market. Then you have to find trustworthy drivers to pull in revenue — unless you enjoy grueling 10-plus-hour shifts.

Retail stores — It only takes one slow season to leave you swimming in inventory. And differentiating your shop among giants, such as Nordstrom, Gap or Urban Outfitters is not easy.

Restaurants — Purchasing the furniture and equipment, a liquor license, and passing the health code can run in the hundreds of thousands of dollars. Once you open your doors, get ready for your staff to walk out through them at a moment’s notice. Oh, yeah: Most food-service vendors like cash on delivery, so a slow week can make it hard to buy next week’s ingredients or alcohol.

Travel Agencies and Tour Operators — Travel is a do-it-yourself activity these days, with online travel search firms like Expedia and Priceline.com. To attract paying customers, agents and tour organizers now have to offer packages in more exotic locales, where Internet research is less effective. While it could be fun, that research takes a lot of time and money — as will all the marketing to convince customers that you’re a step up from their guidebooks, or that you can offer them better deals than they can find on their own.

Fantastic Four:

Internet Services — Starting your own web-related service may yield many results. Technology has become so essential in our daily lives that every home has at least one household computer and businesses are reliant on the Internet. Additionally, in the next three years the number of people who use the Internet is projected to grow to more than 2 billion, that is about one third of the world’s population, reports Inc.com.

Computer related services — As more people, world wide, begin to buy computers at a low cost, the need for computer-related services will grow too. If you have a background in information technology and can help people eliminate viruses, or fix a reoccurring computer problem, you could be the next “Geek on Call.”

Child Care Services — The child care/daycare industry has become one of the fastest growing businesses in the United States. What’s more, this industry makes $11 billion annually — and it’s projected to keep growing. This may be the ideal small business for stay-at-home moms who want to be entrepreneurs as well.

Home Health Care Services — A small home health care business can reach many people. Each year more than 7.6 million people need home health care service reports the National Association for Home Care. The aging American population and advancements in medical technologies have spurred the necessity for qualified home health care professionals. This is a great opportunity to build a business that can help people for years to come.

The small businesses world is a tough arena. But your dedication and hard work — coupled with the foresight to know what products people need — can keep you in business for a long time to come. For more information about small businesses or to search for a career, visit military.com’s Career center.

In a production environment, when the manager, the accountant and the top salesperson meet to discuss a special order, sparks sometimes fly, tempers explode, and both the customer and the company can suffer. You might think the writer is out to lunch when the suggestion of ignoring your overhead costs is considered possible, but please continue reading. Everyone knows that all costs must be recovered if a company is to succeed. However, if a customer requests special pricing for a particularly large order, the normal costing - pricing strategy would result in a substantially different price than what to customer is requesting. Let’s look at an example.

Widgets-Is-Us is well known in the industry, has a strong customer base, and production totals around 100,000 units per month. Per unit costs break down as follows:

Direct Material: $4.00

Inbound Freight: $0.75Total Direct Costs: $4.75

Indirect Costs:

Warehousing: $0.37

Insurance & Taxes: $0.28

Spoilage: $0.08

Utilities: $0.02

Billing: $0.01

Other Overhead Charges: $1.47Total Indirect Charges: $2.23

Corporate Overhead Charges: $2.28

Total Unit Cost: $9.26

Mega mart, a prime customer has approached the company with an offer to purchase 90,000 units, with delivery over the next six months, for their brand new Extraordinary Mega mart, opening in Houston. List price on this item is $37.00, with the lowest price for a 10,000 piece order set at $17.95, with the salesperson earning a 10% commission. Mega mart’s offer is $12.95 each with payment terms of 2%, net 10 days from verified pick up date. Mega Mart will use their own trucks to pick up each shipment as they are deadheading back to the distribution center. Now, would you accept the order?

Before you answer the question, you need a few more facts. First, the plant’s capacity is 100,000 units per month, but is operated at 80,000 units to avoid excessive wear and tear. Second, all pricing is based producing 80,000 units. Third, the salesperson, recognizing the potential coup for his or her career, is willing to accept a 6% commission on this order. Finally, sales over the previous 18 months have floated between 77,500 units to 82,500. Now, what is your decision?

If answered no, you are probably in the majority. However, you just lost a rather profitable order. First, since overhead charges are calculated based on normal monthly production runs, each additional unit produced costs you only $4.86, plus the sales commission of $0.777, plus the cash payment discount of $0.259 for a grand total of $5.896. Your net profit is $7.054 each, $105,810 per month or a grand total of $634,860. The key here is to identify those costs directly affected by the order. Direct materials will not change. Utilities, spoilage and billing will not change. All other costs are immaterial as they are covered by the standard production run. You may incur some additional repair and maintenance costs, but you could negotiate lower raw materials pricing. If a customer asks for a special order, with special pricing and terms, look at the whole picture, not just the numbers on the accountant’s ledger.

Hurricane hazards come in many forms: storm surge, high winds, tornadoes, and flooding. This means it is important for you to have a plan that includes all of these hazards. Hurricane season begins on June 1st and runs through the end of November. After a disaster, an estimated 40% of small businesses never re-open their doors. In deadly disasters, like Hurricane Katrina which hit the Gulf Coast in 2005, entire cities have been wiped out and small businesses are still in the process of recovery. As residents living on the coast, South Texas business owners need to be prepared to deal with hurricanes and learn how to protect your business beforehand.

The Small Business Development Center will present a seminar on preparing your business and your staff for hurricane season on Thursday, May 29th from 11:00 am to 1:00 pm. There is no cost to attend and lunch will be provided. Topics include how to develop an emergency action plan, how to form a planning team, and business continuity issues. Channel 6 Chief Meteorologist Dale Nelson will be giving a presentation as well as a victim of Hurricane Katrina who will share his experience.

After attending this seminar you will be able to create an emergency preparedness plan for your business. The goal is to give your business the tools needed to keep your business up and running in the event of a natural disaster. If you’re interested in attending the seminar please call (361) 698-1021 or (361) 698-2220.

Corpus Christi, TX - The U.S. Small Business Administration’s (SBA) Corpus Christi Branch Office (CCBO) with the assistance of a nominating committee made up of local community partners has named Robert V. Skinner, Bishop RV Center, LLC (Corpus Christi) as the 2008 Small Business Person of the Year. Simon H. Castillo, CCBO Branch Manager, states SBA will also acknowledge the hard work and dedication of individuals who help entrepreneurs on their path to success. These individuals support their community by assisting small business owners with development and growth. The individuals below are this year’s Champion award winners in the following categories:

• Veteran Small Business Champion of the Year (SBA Branch, District & Region VI): Joe V. Elizondo, Greenwood Door Company (Corpus Christi)
• Minority Small Business Champion of the Year: Joe Cisneros, III, President/CEO, Corpus Christi Hispanic Chamber of Commerce
• Home-Based Business Champion of the Year: Felix H. Ocanas, Jr., ECMS (Corpus Christi)
• Women in Business Champion of the Year: Barbara Baros, AFLAC Texas Central (Corpus Christi)

Three SBA participating lenders will also be recognized for their exceptional efforts in providing capital to small businesses in our area during FY 2007 via the SBA 7(a) & 504 loan programs. The lenders to be honored are Texas Certified Development Company (Austin, TX) - District 504 Lender of the Year, ValueBank Texas (Corpus Christi) - District 504 Third Party Lender of the Year, and 1st Community Bank (Corpus Christi) - Branch 7(a) Lender of the Year.

SBA’s valuable resource partners that provide counseling and training to local small businesses will also honor their top counselors. Elizabeth Soliz, a Certified Business Advisor with Del Mar College Small Business Development Center (SBDC), will be honored as SBDC Counselor of the Year; and Ben McDonald, SCORE Counselor; SCORE Chapter 221 (Corpus Christi) is this year’s SCORE Counselor of the Year.

Del Mar College Small Business Development Center will host the annual awards luncheon to celebrate Small Business Week 2008 on Wednesday, April 16, 2008 starting at 11:00 a.m. at the Corpus Christi Country Club, 6300 Everhart Road in Corpus Christi, TX. Seating is limited for the luncheon, so please contact Lisa Farr at 361-698-1021 or go to http://www.sbawards.com/ for reservations.

The local awards luncheon is a part of the National Small Business Week 2008. In celebration of America’s entrepreneurial spirit, the U.S. Small Business Administration will celebrate National Small Business Week 2008 on April 21st- 23rd in Washington, D.C., at the Mandarin Oriental Hotel, where more than 100 outstanding business owners from across the country will be recognized. In addition to the State Small Business Persons of the Year, men and women involved in disaster recovery, government procurement, small business champions as well as SBA partners in financial and entrepreneurial development will be honored.

The event is open to the public.

Show your support for Corpus Christi Small Business!
Tickets are available at $25 per person or $250 a table. Visit http://www.sbawards.com to reserve your seat.

Most small business owners have considered financing at some point in the life of their business. You may have considered expansion, buying new equipment, more inventories, purchasing real estate, or just looking for a new capital infusion.  But the confusion surrounding SBA loans may perplex or frustrate even the most astute entrepreneur. Conflicting information from your trusted advisors or the internet may not help to bring you closer to separating fact from fiction.

There are many myths surrounding SBA loans. Some of these myths are substantial and strong enough to discourage a small business owner from expanding, getting out from under onerous debt, or even staying in business. Understanding how an SBA loan works and how to successfully get one for your business is a matter of separating the facts from the myths. You may recognize yourself in some of the following misconceptions of SBA loans. You will finish this article more informed and in possession of the facts. The facts regarding SBA loans can help you to be a better, more successful small business owner.

The U.S. Small Business Administration (SBA) was created in 1953 as an independent agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation. The SBA recognizes that small business is critical to America’s economic recovery and strength, to building America’s future, and to helping the United States compete in today’s global marketplace. Although SBA has grown and evolved in the years since it was established in 1953, the bottom line mission remains the same. The SBA helps Americans start, build and grow businesses. Through an extensive network of field offices and partnerships with public and private organizations, SBA delivers its services to people throughout the United States, Puerto Rico, the U. S. Virgin Islands and Guam.

THE 7 MYTHS

Myth #1- All banks evaluate the risks of a SBA loan request with the same viewpoint.

Financial Fact- Although all banks are subject to the same SBA Guidelines, the rules are subject to different interpretations with respect to analyzing a particular loan request. Some banks may be willing to take greater risks. Some banks will take a more optimistic evaluation of the facts and your business’ future success. Therefore, choosing the best bank for your SBA loan needs can make the difference between loan approval and denial.

Myth #2- All banks offer the exact same types of financing for SBA loans.

Financial Fact- Loan pricing and structure can vary substantially at different banks. Interest rates on SBA loans are based on the prime rate plus a margin. Some banks are more competitive in price to be leaders in SBA lending. Some banks will carve-out a provision for accounts receivable and inventory financing from their loan agreement to permit additional third party commercial financing in addition to the SBA loan. For the same loan, some banks will require additional collateral guarantees, such as a lien on your house. Evaluating the adequacy of such additional collateral guarantees is also subject to interpretation.

Myth #3- It takes too long to get through the red tape of SBA loans.

Financial Fact- This may be true if the bank has to deal through the SBA bureaucracy. Many lenders have “delegated authority” to directly approve a SBA loan. They can provide a full written loan proposal within 48 hours, and some provide a loan commitment within a week of receiving a full loan package. Closing the loan depends on the specific requirements of each transaction, but takes no longer than closing a conventional commercial loan. If the loan requires an appraisal, this may add several weeks to the process.

Myth # 4- SBA loans are only for start-ups or small companies, and not for “big” companies.

Financial Fact- The SBA defines a qualifying small business as “one that is independently owned and operated and which is not dominant in its’ field of operation.” The SBA does not discriminate between start-ups or established businesses, and company size requirements are not the same across the board. The actual standard used in determining qualification is calculated by number of employees or average annual receipts and varies by industry. For example, in the manufacturing and mining industries, a business can have no more than 500 employees to qualify. Average receipts in most retail and service industries can total no more than $5.5 million. The SBA size regulations are located at sba.gov. Most lenders can tell you immediately if your business qualifies regarding income and number of employees.

Myth #5- SBA loans require a lot of collateral

Financial Fact- SBA lenders do consider collateral when reviewing a loan application, but they also look at several other factors. Your character, your creditworthiness with respect to you history of paying your debts, your management capabilities, and your equity contribution are just as important as having collateral. SBA lenders look at your business as a whole, and although they will not deny you loan solely due to lack of collateral, it can be a contributing factor if there are other weak spots in you application. Ultimately, your ability to repay the loan from your business’s cash flow is the most important consideration.

Myth #6- SBA loans are loans from the Federal Government.

Financial Fact - SBA loans come from commercial lenders who participate with the SBA in SBA lending. The Small Business Administration is an agency of the executive branch of the Federal Government. It establishes guidelines that lenders must follow when giving SBA loans and the SBA backs each loan with a guarantee that eliminates some of the risk to the lender. The actual funds for each loan will come directly from the financial institution. The SBA loans are backed, up to the amount of the guarantee, by the SBA.

Myth # 7- SBA loans are a loan of last resort.

Financial Fact- Lenders that offer SBA financing should be one of the first places a start-up or small business owner goes when seeking a business loan (unless you have a friend or relative willing to invest in your business). The express purpose of the SBA is to help Americans start, build, and grow businesses in order to promote a healthy economy. SBA loans are structured with longer terms, lower down payments, and can have lower rates than conventional commercial loans so small business owners have increased cash flow. Going to a lender for a SBA loan is especially valuable for business owners seeking loans who may not have collateral required with typical commercial loans. There is a reason the SBA is the largest single financial backer of U.S. businesses in the nation.

You need to assess your business’s current health and growth potential. Would it benefit your company if you refinanced old debt? Could you increase business with more equipment? Would a facelift bring in more customers? Would a combination of SBA financing with commercial financing for accounts receivable and inventory help you succeed?

It is critical to your business that you know not only when to seek financing, but how much you will need, and what is available. Many businesses suffer of even fail because their owners do not take out loans when they need to; or they fail because their owners do not borrow enough. Understanding your options will help you determine these things, which can in turn help your business flourish.

Conclusion: the Del Mar College Small Business Development Center can help you separate the myths from the financial facts. They can find the best SBA loans. They can evaluate the best overall financing structure for your particular situation with lower interest rates, longer payback times and lower upfront costs. They can help you understand the big picture and create new opportunities for your consideration.

What tools do you use to plan?  I use the calendar that is with my email software.  Del Mar uses Lotus Notes.  We used to use Microsoft Outlook.  I am not sure which one I like better. But we all need tools to help us plan. 

I like to use the feature that allows me to enter an event every year on the same day.  I have been happily married for twenty three years, and one of the reasons I can say “Happily Married” is I have never forgotten my anniversary, or my wife’s birthday.  We all have important dates that we need to remember; dates that are so important, that if we forget them we will be, well – up a creek, in the dog house, or even out to pasture!  These events are important to us.  We have every intention of remembering them and executing the prescribed duties associated with the date, but sometimes we forget!  Despite our best intentions.

As business owners, we have dates we need to remember – because there are important things we need to do on those dates!  Sales Tax checks are to be mailed by the 20^th of every month.  Withholding deposits made on or before the 15^th of every month.  Note payments, end of the fiscal year, W-2’s by the 31^st of January…and the list goes on and on.  As business owners who seek to sell goods and services to the government, there is another list of dates that are important.  Can you name them without reading ahead?

PTAC wants all government vendors to mark their calendar – electronic calendar on the computer, palm pilot or you desk pad calendar – all your relevant dates for contracting.  Here is a list to help you get started…the renewal date for your CCR Registration (Central Contractors Registration).  This must be renewed every year.  Your renewals for any certification you may have – State of Texas HUB, the Regional Transportation Authority MBE (Minority Business Enterprise), Federal SDB (Small Disadvantaged Business Certification).  Don’t forget your annual updates and reports if you are 8(a).  Put other relevant dates on your calendars such as pre bid meetings for opportunities you may want to consider bidding on; due dates for RFP’s or RFQ’s  (requests for proposals or quotes).  Enter the date when you learn from an agency the next time the contract you want to bid on will come up for bid.  This may be years from now – a very important date, and very easy to forget over time. Mark dates for conferences and training that can help you with your business as well.  You are starting to get it now, aren’t you?  You have probably thought of a couple since you started reading this, haven’t you?  Better mark’em down!

I would rather not have the feeling in the pit of my stomach when I realize I have forgotten something important.  That chill that comes over me.  Not good!  I must confess, I checked my Lotus calendar and saw that I had to write this blog article!  Thank you calendar!

Use your tools!  Your memory is too full of other important information to remember everything!  Put it in you calendar now, you’ll be glad you did!  And make sure you don’t forget you anniversary.